Banking, Financial Services And Insurance BFSI Security Market 2023 - CAGR Status, Major Players, Fo

Banking, Financial Services And Insurance BFSI Security Market Definition

The banking, financial services, and insurance (BFSI) security provides long-term visibility of finances with both cyber security and physical security of banking and financial institutions. Antivirus, access control, encryption, firewalls, video surveillance, identity and access management, risk and compliance management, fire detection, and intrusion detection are some of the most commonly used security services. The banking, financial services, and insurance (BFSI) security is used in securing financial data in financial institutions.

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Banking, Financial Services And Insurance BFSI Security Market Characteristics:

The global banking, financial services and insurance (BFSI) security market size grew from $53.23 billion in 2022 to $59.79 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The banking, financial services and insurance (BFSI) security market size is expected to grow to $90.93 billion in 2027 at a CAGR of 11.1%.

Global Banking, Financial Services

Insurance (BFSI) Security Market Size

Forecast To 2032

Key Market Drivers And Trends

Drivers Trends

The increasing prevalence of cyberattacks is expected to propel the growth of the banking, financial services, and insurance (BFSI) security market

Technological advancement is a key trend gaining popularity in the banking, financial services, and insurance (BFSI) security market.

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Major companies in the market include

International Business

Machines Corp

Key Market Players

Honeywell International Inc

Cisco Systems Inc

McAfee LLC

Booz Allen Hamilton Inc.

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