Banking Cyber Security Market was valued at US$ 242.88 Bn. in 2022. The Global Banking Cyber Security Market size is estimated to grow at a CAGR of 12.5 % over the forecast period.Banking Cyber Security Market Overview:
The report explores the Banking Cyber Security market's segments (Deployment, Component, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Banking Cyber Security market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Banking Cyber Security market's contemporary competitive scenario.To know about the Research Methodology:-Request Free Sample Report
Banking Cyber Security Market Dynamics:
The objective of cyber security in banking is to safeguard the user’s assets. Cybercrimes have become very prevalent in the financial sector hackers have advanced technology improving their skills, making it very challenging for any banking sector to stop the threat are the major factors driving the growth of the market. The banking sector has been moving steadily toward digitization which will boost the market during the forecast period. The major challenges faced by the banking cyber security market is the huge growth of fraud and identity theft according to the latest financial crime report a 60% rise in fraud was reported in the banking sector in 2021 is 40% of banking, financial services, and insurances have been attacked at least once with the majority of mobile banking transactions happening on personal devices it will hamper the growth of the market during the forecast period. Banking Cyber Security Market Trends: The growing adoption of new technologies spurred on by digital transformations and widespread migrations to the public cloud for multiple applications will boost the market growth during the forecast period. The wave of technological advances and digital innovation has rapidly transformed the banking sector making financial services more efficient and easily accessible to everyone. From making purchases, payments, and withdrawals to crowdfunding, investing, and applying for loans, people can now avail banking services digitally, all from the comfort of their homes. The government data has the boom in digital transactions in India primarily led by UPI to climb close to 90%. The most significant factor has been the ongoing initiative of the Government of India through its flagship Digital India Programme with a vision to transform India into a digitally empowered society and knowledge economy. The sharp rise in value and volume of digital transactions accelerated the shift towards electronic payment. The pace of digitization of financial transactions in India continues to gather pace. It is estimated that noncash payment transactions, which today constitute 22% will overtake cash transactions by 2023. Cybersecurity expenditure is expected to exceed $1 trillion and the growth is making it difficult for researchers and IT analyst firms to accurately forecast the expenditure. Even pre-pandemic, branches were closing at a rate of 3 per day as millennials pushed this traditional industry into the digital era. 27% of millennials have never been to a physical bank. The expansion of digital banking means being aware of aid and ever-changing security and privacy concerns. COVID-19 Impact: The COVID-19 crisis has negatively impacted the economy and has forced banks and their customers to use digital tools and processes to compensate for branch, office, and call center closures. Criminal cyber activity, including fraud and phishing attacks, has increased as more employees work remotely. With growing numbers and new forms of financial crime driven y COVID-19, the number of cyberattacks rose by over 200%.Banking Cyber Security Market Segment Analysis:
Based on Deployment, the Market is segmented into Cloud and On-premises. The cloud segment holds the largest segment and is expected to grow at the largest CAGR of nearly 13.15% during the forecast period. The major factor driving the growth of the market is the cost-effectiveness and time-efficient of the segment. Based on the Component, the Market is segmented into Solution and Segment. The Solution segment holds the largest market share and is expected to remain the same during the forecast period. The increasing adoption of security among various industries such as IT and telecom, financial institution, and others is expected to drive the market growth during the forecast period.Regional Insights:
The North American region held the largest market share and will dominate the market during the forecast period because of the high focus on innovation in technology and R&D fuelling the growth of the market. The Asia Pacific region is expected to witness significant growth through the forecast period. Because of the rising adoption of web and mobile-based business applications will drive the growth of the market. The objective of the report is to present a comprehensive analysis of the global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers. The reports also help in understanding the Market dynamic and structure by analyzing the market segments and projecting the Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Market make the report investor’s guide.Banking Cyber Security Market Scope :Inquire before buying
Banking Cyber Security Market Base Year 2022 Forecast Period 2023-2029 Historical Data CAGR Market Size in 2022 Market Size in 2029 2018 to 2022 12.5% US$ 242.88 Bn US$ 553.95 Bn Segments Covered by Deployment Cloud On-premises by Component Segment Solution Regions Covered North America United States Canada Mexico Europe UK France Germany Italy Spain Sweden Austria Rest of Europe Asia Pacific China S Korea Japan India Australia Indonesia Malaysia Vietnam Taiwan Bangladesh Pakistan Rest of APAC Middle East and Africa South Africa GCC Egypt Nigeria Rest of ME&A South America Brazil Argentina Rest of South America Key Players:
1. Symantec Corporation 2. Intel Security 3. IBM Corporation 4. Hewlett Packard Enterprise 5. Rapid7, Inc. 6. Cisco Systems, Inc. 7. FireEye, Inc. 8. EMC RSA 9. Sophos Ltd. 10. Trend Micro, Inc 11. Palo Alto Network 12. Microsoft 13. Sophos 14. Splunk 15. Netsparker 16. CrowdStrike 17. Fortinet 18. KnowBe4 19. McAfee LLC 20. Honeywell International Inc. 21. Computer Science Corporation (CSC) Frequently Asked Questions: 1] What segments are covered in the Global Banking Cyber Security Market report? Ans. The segments covered in the Banking Cyber Security Market report are Component, deployment, and geography. 2] Which region is expected to hold the highest share in the Global Banking Cyber Security Market? Ans. The North American region is expected to hold the highest share in the Banking Cyber Security Market. 3] What is the market size of the Global Banking Cyber Security Market by 2029? Ans. The market size of the Banking Cyber Security Market by 2029 is expected to reach US$ 553.95 Bn. 4] What is the forecast period for the Global Banking Cyber Security Market? Ans. The forecast period for the Banking Cyber Security Market is 2023-2029. 5] What was the market size of the Global Banking Cyber Security Market in 2022? Ans. The market size of the Banking Cyber Security Market in 2022 was valued at US$ 242.88 Bn.
1. Banking Cyber Security Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Banking Cyber Security Market: Dynamics 2.1. Banking Cyber Security Market Trends by Region 2.1.1. North America Banking Cyber Security Market Trends 2.1.2. Europe Banking Cyber Security Market Trends 2.1.3. Asia Pacific Banking Cyber Security Market Trends 2.1.4. Middle East and Africa Banking Cyber Security Market Trends 2.1.5. South America Banking Cyber Security Market Trends 2.2. Banking Cyber Security Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Banking Cyber Security Market Drivers 2.2.1.2. North America Banking Cyber Security Market Restraints 2.2.1.3. North America Banking Cyber Security Market Opportunities 2.2.1.4. North America Banking Cyber Security Market Challenges 2.2.2. Europe 2.2.2.1. Europe Banking Cyber Security Market Drivers 2.2.2.2. Europe Banking Cyber Security Market Restraints 2.2.2.3. Europe Banking Cyber Security Market Opportunities 2.2.2.4. Europe Banking Cyber Security Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Banking Cyber Security Market Drivers 2.2.3.2. Asia Pacific Banking Cyber Security Market Restraints 2.2.3.3. Asia Pacific Banking Cyber Security Market Opportunities 2.2.3.4. Asia Pacific Banking Cyber Security Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Banking Cyber Security Market Drivers 2.2.4.2. Middle East and Africa Banking Cyber Security Market Restraints 2.2.4.3. Middle East and Africa Banking Cyber Security Market Opportunities 2.2.4.4. Middle East and Africa Banking Cyber Security Market Challenges 2.2.5. South America 2.2.5.1. South America Banking Cyber Security Market Drivers 2.2.5.2. South America Banking Cyber Security Market Restraints 2.2.5.3. South America Banking Cyber Security Market Opportunities 2.2.5.4. South America Banking Cyber Security Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Banking Cyber Security Industry 2.8. Analysis of Government Schemes and Initiatives For Banking Cyber Security Industry 2.9. Banking Cyber Security Market Trade Analysis 2.10. The Global Pandemic Impact on Banking Cyber Security Market 3. Banking Cyber Security Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 3.1.1. Cloud 3.1.2. On-premises 3.2. Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 3.2.1. Segment 3.2.2. Solution 3.3. Banking Cyber Security Market Size and Forecast, by Region (2022-2029) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Banking Cyber Security Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 4.1.1. Cloud 4.1.2. On-premises 4.2. North America Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 4.2.1. Segment 4.2.2. Solution 4.3. North America Banking Cyber Security Market Size and Forecast, by Country (2022-2029) 4.3.1. United States 4.3.1.1. United States Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 4.3.1.1.1. Cloud 4.3.1.1.2. On-premises 4.3.1.2. United States Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 4.3.1.2.1. Segment 4.3.1.2.2. Solution 4.3.2. Canada 4.3.2.1. Canada Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 4.3.2.1.1. Cloud 4.3.2.1.2. On-premises 4.3.2.2. Canada Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 4.3.2.2.1. Segment 4.3.2.2.2. Solution 4.3.3. Mexico 4.3.3.1. Mexico Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 4.3.3.1.1. Cloud 4.3.3.1.2. On-premises 4.3.3.2. Mexico Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 4.3.3.2.1. Segment 4.3.3.2.2. Solution 5. Europe Banking Cyber Security Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.2. Europe Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 5.3. Europe Banking Cyber Security Market Size and Forecast, by Country (2022-2029) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.3.1.2. United Kingdom Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 5.3.2. France 5.3.2.1. France Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.3.2.2. France Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 5.3.3. Germany 5.3.3.1. Germany Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.3.3.2. Germany Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 5.3.4. Italy 5.3.4.1. Italy Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.3.4.2. Italy Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 5.3.5. Spain 5.3.5.1. Spain Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.3.5.2. Spain Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 5.3.6. Sweden 5.3.6.1. Sweden Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.3.6.2. Sweden Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 5.3.7. Austria 5.3.7.1. Austria Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.3.7.2. Austria Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 5.3.8.2. Rest of Europe Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6. Asia Pacific Banking Cyber Security Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.2. Asia Pacific Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3. Asia Pacific Banking Cyber Security Market Size and Forecast, by Country (2022-2029) 6.3.1. China 6.3.1.1. China Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.1.2. China Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.2. S Korea 6.3.2.1. S Korea Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.2.2. S Korea Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.3. Japan 6.3.3.1. Japan Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.3.2. Japan Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.4. India 6.3.4.1. India Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.4.2. India Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.5. Australia 6.3.5.1. Australia Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.5.2. Australia Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.6. Indonesia 6.3.6.1. Indonesia Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.6.2. Indonesia Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.7. Malaysia 6.3.7.1. Malaysia Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.7.2. Malaysia Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.8. Vietnam 6.3.8.1. Vietnam Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.8.2. Vietnam Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.9. Taiwan 6.3.9.1. Taiwan Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.9.2. Taiwan Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 6.3.10.2. Rest of Asia Pacific Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 7. Middle East and Africa Banking Cyber Security Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 7.2. Middle East and Africa Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 7.3. Middle East and Africa Banking Cyber Security Market Size and Forecast, by Country (2022-2029) 7.3.1. South Africa 7.3.1.1. South Africa Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 7.3.1.2. South Africa Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 7.3.2. GCC 7.3.2.1. GCC Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 7.3.2.2. GCC Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 7.3.3. Nigeria 7.3.3.1. Nigeria Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 7.3.3.2. Nigeria Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 7.3.4.2. Rest of ME&A Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 8. South America Banking Cyber Security Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 8.2. South America Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 8.3. South America Banking Cyber Security Market Size and Forecast, by Country (2022-2029) 8.3.1. Brazil 8.3.1.1. Brazil Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 8.3.1.2. Brazil Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 8.3.2. Argentina 8.3.2.1. Argentina Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 8.3.2.2. Argentina Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Banking Cyber Security Market Size and Forecast, by Deployment (2022-2029) 8.3.3.2. Rest Of South America Banking Cyber Security Market Size and Forecast, by Component (2022-2029) 9. Global Banking Cyber Security Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Banking Cyber Security Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Symantec Corporation 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Intel Security 10.3. IBM Corporation 10.4. Hewlett Packard Enterprise 10.5. Rapid7, Inc. 10.6. Cisco Systems, Inc. 10.7. FireEye, Inc. 10.8. EMC RSA 10.9. Sophos Ltd. 10.10. Trend Micro, Inc 10.11. Palo Alto Network 10.12. Microsoft 10.13. Sophos 10.14. Splunk 10.15. Netsparker 10.16. CrowdStrike 10.17. Fortinet 10.18. KnowBe4 10.19. McAfee LLC 10.20. Honeywell International Inc. 10.21. Computer Science Corporation (CSC) 11. Key Findings 12. Industry Recommendations 13. Banking Cyber Security Market: Research Methodology 14. Terms and Glossary