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Cybersecurity in Financial Services Market Massive Growth Expected During Forecast Period 2032

11-29-2023 06:46 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Report Ocean

Cybersecurity in Financial Services Market Massive Growth

Introducing the Most Recent Research Report [2023-2032] on the Cybersecurity in Financial Services Market: Size, Emerging Trends, Market Share, Remarkable Growth, Segmentation, Comprehensive Analysis, and Forward-Looking Projections for 2032. This report presents an in-depth examination of the critical drivers propelling global market sales. Within its 120 pages, the report delivers a comprehensive evaluation of the industry's current status, encompassing aspects such as market size, market share, anticipated trends, growth rate, distribution channels, and more.

The global cybersecurity in financial services market is expected to expand at a CAGR of 9.81%, leading to a global revenue of USD 42.66 Bn by 2023.

Request To Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/IND228

Cybersecurity involves a set of techniques that are designed to protect the integrity of networks, programs, and data, from unauthorized access, cyberattacks, and damages. Of late, cyberattacks in the financial services sector have increased manifold. Cyberattacks against financial services firms increased by over 70% in 2017, which reflects that the financial services sector is currently vulnerable to such attacks. In the future, adoption of effective cyber security techniques will become a necessity to reduce the risk of cyberattacks and illegal use of systems, networks and technologies.

Cyberattacks and data breaches in financial services firms are more common than in any other industry. In 2017, a data breach at Equifax created a turmoil in the global markets, since more than 143 Mn consumers were affected by that. Also, incidents like the WannaCry and Petya ransomware in 2017, which badly affected Russian and Ukrainian banks, further exposed the world to direct financial threats posed by cyberattacks. These incidents highlight the urgent need for stringent cybersecurity in financial firms.

Based on end user industries, the market is segmented into banking, insurance, stock brokerages, credit unions, investment funds, card and mobile payments, and governments. Among these segments, the card and mobile payments segment is expected to register a high growth rate through the forecast period of 2018-2023. Given that card and mobile payments are being adopted swiftly as a mode of cashless transactions, the risk of cyberattacks increases due to the critical nature of the financial data transmitted in each payment.

By solutions and services, the global cybersecurity in financial services market is categorised into mobile enterprise management, endpoint security, identity and access management (IAM), mobile security, security information and event management (SIEM), content security, data loss prevention (DLP), datacenter security, and firewall. The mobile enterprise management solution segment is expected to have the highest growth rate owing to its wide adoption in contactless payment systems within various industries.

By regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Asia-Pacific is projected to grow with the highest CAGR through the forecast period of 2018-2023.

Key growth factors

Incidents of data breaches are on the rise, thereby having an impact on the digitization of financial services like cashless payments via cards and mobiles. Hackers are finding this sector extremely vulnerable to prey upon. Thus, the threat of cyberattacks on the financial services sector is increasing and consultants are increasingly looking into ways to reduce such cyber risks. This is a major driver for the adoption of cybersecurity in the financial services sector.

In 2016, financial services customers suffered over 60% more cyberattacks than customers in any other sector. This increase in the number and scope of attacks on the financial sector is necessitating governmental actions and policies to curb it. Federal laws like National Cybersecurity Protection Advancement Act, Cybersecurity Information Sharing Act (CISA), etc. are helping accelerate the adoption of cybersecurity in the financial sector.

Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/IND228

Threats and key players

Although cybersecurity in financial services market is expected to have positive growth globally, lack of adequate funds may act as a hindrance to the growth of the market. Buyers are allocating exorbitant budgets to tackle cyberattacks but the nature of the crimes is evolving every passing day. Spending on new types of cybersecurity tools and services for companies is a major problem for the financial sector and may hinder the growth of the market.

The major cybersecurity providers operating in the financial services market are Experian Information Solutions Inc., IBM Corporation, Airbus SE, AlienVault, Inc., etc.

What's covered in the report?

1. Overview of the global cybersecurity in financial services market
2. Market drivers and challenges in the global cybersecurity in financial services market
3. Market trends in the global cybersecurity in financial services market
4. Historical, current and forecasted market size data for the end user segment (banking, insurance, stock brokerages, credit unions, investment funds, card and mobile payments and governments) – by revenue (USD Bn)
5. Historical, current and forecasted market size data for the solutions segment {mobile enterprise management, endpoint security, identity and access management (IAM), mobile security, security information and event management (SIEM), content security, data loss prevention (DLP), datacenter security and firewall}– by revenue (USD Bn)
6. Historical, current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, The Middle East and Africa) market size data for the global cybersecurity in financial services market – by revenue (USD Bn)
7. Historical, current and forecasted market size data for region-wise global cybersecurity in financial services market segments – by revenue (USD Bn)
8. Analysis of the competitive landscape and profiles of major companies operating in the market

Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/IND228

Why buy?

o Understand the demand for cybersecurity in financial services to determine the viability of operating in the market
o Identify the developed and emerging markets where cybersecurity services and solutions are provided
o Identify the challenge areas and address them
o Develop strategies based on the drivers, trends and highlights for each of the segments
o Evaluate the value chain to determine the workflow to get an idea of your current position
o Recognize the key competitors of this market and respond accordingly
o Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth
o Define the competitive positioning by comparing the products and services with the key players in the market

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

Request full Report Description, TOC, Table of Figure, Chart, etc. @ -https://reportocean.us/sample-request/report_id/IND228

The following are significant aspects of the industry that may be relevant:

Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry's potential.

Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.

Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.

Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.

Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.

Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.

Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.

Reasons to Buy This Report

(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.

(B) The report offers comprehensive analysis of Cybersecurity in Financial Services market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.

(C) The research includes segmentation of the Cybersecurity in Financial Services market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.

(D) Analysis of the Cybersecurity in Financial Services market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.

(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.

(F) The study helps evaluate Cybersecurity in Financial Services business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.

Request Full Report -https://reportocean.us/sample-request/report_id/IND228

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom-line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

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