Digital Security Control Market: Global Industry Analysis and Forecast (2023-2029)

Digital Security Control Market was valued at US$ 13.3 Bn. in 2022. Global Digital Security Control Market size is estimated to grow at a CAGR of 12.29 %.
Digital Security Control Market Overview:
Digital security control is the process, which is used to protect online identity, data, and other assets. The security control tools include web services, antivirus software, smartphone SIM cards, biometrics, and secured personal devices. The world has undergone tremendous digital transformation and outbreak of the pandemic has acerated its journey at rapid rate. In the digital era, threat landscapes have prioritized corporate and governmental networks assets as high priorities, which is expected to drive the digital security control demand. The rapid digitization in the industry and increased mobility have presented countless opportunities in the market.To know about the Research Methodology :- Request Free Sample Report

Security controls are parameters, which is implemented to protect various forms of data and infrastructure. Data privacy regulations are growing, which is making digital security control critical for businesses to shore up their data protection policies. The report has covered the market trends from 2017 to forecast the market through 2029. 2022 is considered a base year however 2022’s numbers are on the real output of the companies in the market. Special attention is given to 2022, the effect of lockdown on the demand and supply, and the impact of lockdown for the next two years on the market.
Digital Security Control Market Dynamics:
Businesses are adopting new-age technologies like Internet of Things (IoT), artificial intelligence, machine learning, blockchain, cloud computing to streamline their workflows. An adoption of new-age technologies are increasing the vulnerability and risk of cyber-attacks. Despite the positive technological boom has witnessed in the market, the concerns on privacy and security of business systems have also increased. With the vulnerable scenario of cyberspace consideration, many cybersecurity platforms are emerging to prevent, detect and respond to cyber threats.

The digital security control solutions are widely used in an array of application areas like healthcare, telecommunication, and finance. The technology advancement in the digital security control services and its cost reduction benefits are expected to increase the adoption of the digital control. An increase in adoption of Europay, Mastercard and Visa (EMV) method are boosting the growth of market. On the other hand, hacking is the one of the key challenges for the global market growth
Segment Analysis:
Smart card segment is expected to contribute 8.23% share in the global market. An adoption of Internet-of-Things (IoT) and developments in micro-embedded electronics are increasing demand for digital security control. The trend of digitalization of payment processes, consumer inclination toward cashless payments and fraud prevention capabilities and extended durability benefits are some of the factors behind the market growth. The Smart card offers benefits in the advanced authentication applications and provides two-factor authentication for authenticating users, which can offer much more secure. An introduction of multifunction cards are expected to emerge as the fastest-growing service because of its features like fast processing speed and enhancement in data security.

Finance and Banking: Drive the demand for Digital Security Control

With an increase in digitalization, the cybersecurity threats are growing at a rapid rate. The primary purpose of digital security control in digital banking is to protect the customer’s assets. More and more transactions activities are increasing by customers as they are going for cashless option. An increase in use of digital money like credit cards and debit cards for transactions are expected to increase the demand for digital security control. In the banking on financial sector, cyberattacks are increasing. With an increase in sophistication of cybercriminals, banks and financial institutions need benefits of information security against cybercrime.
Regional Insights:
Asia Pacific is projected to be leading region in the global market. The maximum share in the market is attributed to the demand of digital security system in telecommunication and internet security. An increase in transition from magnetic strip technology to EMV, security benefits obtained from biometric technology, and demand for information security are some of the prominent factors behind the market growth. In the region, many enterprises are adopting multi-factor authentication services, which is expected to offer key opportunities for security control service providers. The emerging economies like China, India, and Japan are expected to set potential opportunities for digital security control because of digitization in financial systems. The government agencies are also focusing on integration of smart chip-based system, which is expected to boost regional market growth.

The objective of the report is to present a comprehensive analysis of the global Digital Security Control 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, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Digital Security Control Market make the report investor’s guide.
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Global Digital Security Control Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 13.3 Bn.


Forecast Period 2023 to 2029 CAGR:
12.29%
Market Size in 2029:
US $ 29.9 Bn.


 Segments Covered:
by Hardware
Smart Card
Sim Card (Subscriber Identity Module)
Biometric Technologies
Security Tokens


by Service
Two-Factor Authentication
Three-Factor Authentication
Four-Factor Authentication


by Software
Anit-Phishing
Authentication
Network Surveillance
Security Management
Web Technologies


by Application
Mobile Security and Telecommunication
Finance and Banking
Healthcare
Commercial
Other Applications



Digital Security Control Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Digital Security Control Market Key Players are:
1. Gemalto NV
2. Fireeye, Inc.
3. Oberthur Technologies
4. Safenet, Inc.
5. RSA Security LLC
6. Vasco Data Security International, Inc.
7. 3M
8. NEC Corporation
9. Morpho S.A.S
10. HID Global
11. CardLogix Corporation
12. Watchdata Technologies
13. Bundesdruckerei GmbH
14. IntelCav
15. Secura Key
16. Alioth LLC

Frequently Asked Questions:

1] What segments are covered in the Digital Security Control Market report?
Ans. The segments covered in the Digital Security Control Market report are based on Hardware, Service, Software, and Application.

2] Which region is expected to hold the highest share in the Digital Security Control Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Digital Security Control Market.

3] What is the market size of the Digital Security Control Market by 2029?
Ans. The market size of the Digital Security Control Market by 2029 is US$ 29.9Bn.

4] What is the forecast period for the Digital Security Control Market?
Ans. The forecast period for the Digital Security Control Market is 2023-2029.

5] What was the market size of the Digital Security Control Market in 2022?
Ans. The market size of the Digital Security Control Market in 2022 was US$ 13.3 Bn.