DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/6sfk3d/global_cyber) has announced the addition of the "Global Cyber Security Market in the BFSI sector 2015-2019" report to their offering.
The Global Cyber Security market in the BFSI sector to grow at a CAGR of 13.14% over the period 2014-2019.
Cyber threats are web-based threats such as data thefts and identity thefts. They disrupt IT systems in organizations and hack critical information using malware, spyware, or by phishing. Cyber security solutions help organizations in the BFSI sector to report, monitor, detect, and counter cyber threats while maintaining the confidentiality of information systems. In addition, they can be deployed as on-premises, cloud-based, or hybrid models. In the current scenario, increased internet penetration has given exponential rise to sophisticated attacks on IT business infrastructure.
Attackers are increasingly gaining access to sensitive information such as credit card details and other financial information. Organizations in the BFSI sector are adopting cyber security solutions to protect critical information or any kind of digitized information stored in a PC or in any digital memory device.
The demand for cloud-based security solutions is one key trend in the market. End-users prefer cloud-based security solutions because they are cost-effective and can be easily managed. The introduction of cost-effective cloud-based solutions encourages both large enterprises and SMEs in the BFSI sector to adopt other cyber security solutions.
According to the report, one of the major drivers in the market is the increased use of mobile devices. The increased use of mobile devices such as tablets and laptops has increased the complexity of identification issues. The increase in the integration of networks with employees' mobile devices has escalated the need for security solutions to prevent misuse of confidential data through fraudulent activities.
Further, the report states that the high cost of implementation of cyber security solution is one of the major challenges in the market. Implementing a complete traditional cyber security solution usually takes time. This increases the criticality of the implementation process because once the deployment of cyber security solutions starts, it becomes expensive to make any changes later.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
- BAE Systems
- Booz Allen Hamilton
Other Prominent Vendors
- 41st Parameter
- Check Point
- Crewe Fox
- Skybox Security
- Verint Systems
- WhiteHat Security
For more information visit http://www.researchandmarkets.com/research/6sfk3d/global_cyber