Global BFSI Security Growth Opportunities

Global BFSI Security Growth Opportunities

Increased Digitalization and Integration Drive Operational Efficiency

RELEASE DATE
26-Jul-2021
REGION
Global
Research Code: PBB3-01-00-00-00
SKU: AE01489-GL-MT_25640
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Description

The banking, financial services, and insurance (BFSI) security landscape is continuously evolving, presenting numerous challenges for the hundreds of solution providers that compete for attention in the multibillion-dollar market. Most BFSI organizations run their physical and digital security teams in silos, but momentum has increased for security convergence as threats become more multifaceted and security systems become increasingly digitized, connected, and actively integrated. A holistic view of security is becoming a strategic imperative.

The COVID-19 pandemic has significantly changed how people and businesses function, and its effect on the BFSI industry in the past year cannot be understated. The shift to working from home has made personal and corporate banking customers natural targets for attackers, with phishing emails, call center fraud, and infrastructure attacks becoming more common. Although these attacks are not new, the increase is alarming, prompting companies to explore new technologies.

This study examines opportunities for physical security (surveillance, command and control, communication equipment, and screening and detection), cybersecurity (firewalls, antivirus protection, active network detection solutions, and data analytics and storage), and converged security (access control and identity management, risk-averse security services, and managed services) through 2030. It takes a closer look at market drivers and restraints, forecasts revenue for the decade, and lists the top competitors in each of the three market segments. It includes an industry threat and vulnerability analysis, presents selected results from a 2020 Frost & Sullivan information technology decision maker survey, and considers the new technologies that are available or being developed for each market segment.

Author: Shaurya Singh

RESEARCH: INFOGRAPHIC

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Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Banking, Financial Services, and Insurance (BFSI) Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Market Overview

Market Segmentation

Key Competitors

Growth Metrics

Growth Drivers

Growth Restraints

Forecast Assumptions

Revenue Forecast

Revenue Forecast by Product

Revenue Forecast by Region

Revenue Forecast Analysis

Revenue Forecast Analysis by Region

Revenue Forecast Analysis by Region (continued)

Revenue Forecast Analysis by Segment

Competitive Environment

Market Share

Critical Success Factors

IT Decision Maker Survey for the BFSI Industry

IT Decision Maker Survey for the BFSI Industry (continued)

Threat Analysis—Cyber

Threat Analysis—Physical

Vulnerability Analysis

Security Improvement Recommendations

Growth Metrics

Key Findings

Revenue Forecast

Revenue Forecast by Region

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Growth Metrics

Key Findings

Revenue Forecast

Revenue Forecast by Region

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Growth Metrics

Key Findings

Revenue Forecast

Revenue Forecast by Region

IT Decision Maker Survey for the BFSI Industry

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Growth Opportunity 1—Transformation to Digital Banking

Growth Opportunity 1—Transformation to Digital Banking (continued)

Growth Opportunity 2—Seamless User Experience at Retail Locations

Growth Opportunity 2—Seamless User Experience at Retail Locations (continued)

Growth Opportunity 3—Advanced Data Analytics

Growth Opportunity 3—Advanced Data Analytics (continued)

Growth Opportunity 4—Securing Human-Cyber Touch Points

Growth Opportunity 4—Securing Human-Cyber Touch Points (continued)

Conclusions

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

The banking, financial services, and insurance (BFSI) security landscape is continuously evolving, presenting numerous challenges for the hundreds of solution providers that compete for attention in the multibillion-dollar market. Most BFSI organizations run their physical and digital security teams in silos, but momentum has increased for security convergence as threats become more multifaceted and security systems become increasingly digitized, connected, and actively integrated. A holistic view of security is becoming a strategic imperative. The COVID-19 pandemic has significantly changed how people and businesses function, and its effect on the BFSI industry in the past year cannot be understated. The shift to working from home has made personal and corporate banking customers natural targets for attackers, with phishing emails, call center fraud, and infrastructure attacks becoming more common. Although these attacks are not new, the increase is alarming, prompting companies to explore new technologies. This study examines opportunities for physical security (surveillance, command and control, communication equipment, and screening and detection), cybersecurity (firewalls, antivirus protection, active network detection solutions, and data analytics and storage), and converged security (access control and identity management, risk-averse security services, and managed services) through 2030. It takes a closer look at market drivers and restraints, forecasts revenue for the decade, and lists the top competitors in each of the three market segments. It includes an industry threat and vulnerability analysis, presents selected results from a 2020 Frost & Sullivan information technology decision maker survey, and considers the new technologies that are available or being developed for each market segment. Author: Shaurya Singh
More Information
No Index No
Podcast No
Author Shaurya Singh
Industries Aerospace, Defence and Security
WIP Number PBB3-01-00-00-00
Is Prebook No
GPS Codes 99D5-A1