Financial Services Cybersecurity Systems and Services Market - Industry analysis, Trends, Estimation & Forecast, 2016 - 2024

November 2017

 ERC 2033

Financial services cybersecurity systems and services can be referred as the state of being protected against the criminal and unauthorized use of financial electronic data, or the measures taken to achieve this security. The market is expected to exhibit healthy growth rates in upcoming years owing to various factors within IT and finance domain.

Market Determinants

Increasing digital financial transactions across the globe is one of the prime factors, responsible for growth of financial services cybersecurity systems and services market. As per Merchant Risk Council (MRC), the E-Commerce fraud rate encountered by top 10 countries including, the U.S., France, Canada and various others, was of 0.53%. Further, changing global privacy and cybersecurity legislation, increasing sophisticated ransomware and phishing attacks, and improving government’s financial scrutiny level would support the growth of market. For instance, Hong Kong Monetary Authority, launched its Cybersecurity Fortification Initiative in mid-2016. However, complex nature of financial cybersecurity might hinder the market growth in upcoming years.

Segment Analysis

Global financial services cybersecurity systems and services can be segmented on the basis of solutions & services, end user, and region. By Solution & services the market is classified as endpoint security, identity & access management, mobile enterprise management, mobile security, security information & event management, content security, data loss prevention, datacenter security, firewall, and other financial services cybersecurity systems and solutions. By end user the market is segmented into banking, insurance, credit unions, stock brokerage, stock exchange, investment funds, consumer financing, card and mobile payment service, government, and others. Geographically, the global financial services cybersecurity systems and services market is segmented as North America, Europe, Asia-Pacific, and Rest of the World. In the current scenario, U.S is the largest market for financial services cybersecurity systems and services as a result of increasing cyber frauds owing to lack of quality cybersecurity. For an instance, 95% out of the top 20 U.S. commercial banks (by revenue) have a network security grade of “C” or below. Further, nearly 1 out of 5 financial institutions use an email service provider with severe security vulnerabilities within U.S.
The financial services cybersecurity systems and services is in its early stage and has sufficient number of players. The market is driven by new technological innovation and effective service offering.
Top players of the market are Accenture PLC., Agiliance, Inc., AhnLab, Inc., Airbus SE, Akamai Technologies, Inc., Alert Logic, Inc., AlienVault, Inc., Avast Software S.R.O., Experian Information Solutions, Inc., IBM Corporation, and VMware, Inc.

Global Financial Services Cybersecurity Systems and Services Market Segmentation

By Solution & Service
• Endpoint Security
• Identity & Access Management
• Mobile Enterprise Management
• Mobile Security
• Security Information & Event Management
• Content Security
• Data Loss Prevention
• Datacenter Security
• Firewall
• Other Financial Services

By End User
• Banking, Insurance
• Credit Unions
• Stock Brokerage
• Stock Exchange
• Investment Funds
• Consumer Financing
• Card and Mobile Payment Service
• Government
• Other End User

By Geography
• North America
• Europe
• APAC
• Rest of the World

Key Market Players

• Accenture PLC.
• Agiliance, Inc.
• AhnLab, Inc.
• Airbus SE
• Akamai Technologies, Inc.
• Alert Logic, Inc.
• AlienVault, Inc.
• Avast Software S.R.O.
• Experian Information Solutions, Inc.
• IBM Corporation
• VMware, Inc.

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    What Information does this report contain?

    • What was the market size of the financial services cybersecurity systems and services market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the financial services cybersecurity systems and services market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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