DUBLIN--(BUSINESS WIRE)--The "Global Security Services Market for BFSI Sector - Segmented by Type of Security, Services, Sub-Vertical, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The market for Security services for BFSI sector is expected to reach USD 62.69 billion in 2023 from USD 32.72 billion in 2017, registering a CAGR of 11.4%, during the forecast period 2018-2023.
Increase in BFSI services and rise in cyber data breaches are a few factors driving the growth of security services market for BFSI sector, whereas, high costs of the security solutions is inhibiting its growth.
The cyber data breaches in BFSI sector are immensely impacting the consumers' confidence, for instance, most of the cloud-based companies saw close to 46% dip in profit after a major data breach incident took place. Moreover, the global average cost of a data breach in 2017 was USD 3.6 million.
Retail banks attained scale either by merging or acquiring other banks. Digitalization has also hit retail banking as customers are looking forward towards digitalization. After getting digitized, banks saw tremendous increase in number of online customer subscriptions. Banks also found that the customers prefer to use mobile banking instead of visiting the bank branches.
- Booz Allen Hamilton
- Cisco Systems
- Computer Sciences Corporation
- EMC Corporation
- Symantec Corporation
- IBM Corporation
- McAfee Secuirty
- Trend Micro Incorporated
- Honeywell International
- Sophos Group
Key Topics Covered:
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Security Services Market for BFSI Sector Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Future Outlook of Security Services Market for BFSI Sector
For more information about this report visit https://www.researchandmarkets.com/research/n3rcc4/global_security?w=4