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 governmentâs 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.
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