[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Banking Cyber Security Market size & share revenue was valued at approximately USD 75.9 Billion in 2022 and is expected to reach USD 77.1 Billion in 2023 and is expected to reach around USD 285.4 Billion by 2032, at a CAGR of 15.2% between 2023 and 2032. The key market players listed in the report with their sales, revenues and strategies are Symantec Corporation, Intel Security, IBM Corporation, Hewlett Packard Enterprise, Rapid7 Inc., Cisco Systems Inc., FireEye Inc., EMC RSA, Sophos Ltd., Trend Micro Inc, Palo Alto Network, Microsoft, Sophos, Splunk, Netsparker, CrowdStrike, Fortinet, KnowBe4, McAfee LLC, Honeywell International Inc., Computer Science Corporation, and others.
Austin, TX, USA, Feb. 23, 2024 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Banking Cyber Security Market Size, Trends and Insights By Type (Cloud Security, Network Security, Web Security, End Point Security, Application Security, Others), By Organization Size (Small & Medium Enterprise, Large Enterprise), By Deployment Type (Cloud, Private Cloud, Data Center, Managed Services), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.
“According to the latest research study, the demand of global Banking Cyber Security Market size & share was valued at approximately USD 75.9 Billion in 2022 and is expected to reach USD 77.1 Billion in 2023 and is expected to reach a value of around USD 285.4 Billion by 2032, at a compound annual growth rate (CAGR) of about 15.2% during the forecast period 2023 to 2032.”
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Banking Cyber Security Market – Overview
Banking cybersecurity refers to the set of measures, practices, technologies, and strategies implemented by financial institutions to protect their digital assets, sensitive information, and electronic systems from cyber threats and unauthorized access.
It involves the deployment of advanced security protocols, encryption techniques, firewalls, and continuous monitoring to identify and mitigate potential risks such as phishing attacks, malware, and other cyber threats.
Current trends in the banking cybersecurity market include a heightened focus on Artificial Intelligence (AI) and Machine Learning (ML) for threat detection.
Additionally, there is a rising integration of biometric authentication methods, such as facial recognition and fingerprint scanning, to enhance identity verification. The industry is also witnessing a surge in regulatory technology (RegTech) solutions to streamline compliance processes.
Overall, the banking cybersecurity market trends reflect a dynamic landscape, adapting to technological advancements and the evolving nature of cyber threats.
By type, the network security segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
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The banking cybersecurity market is influenced by emerging trends in network security, increased use of artificial intelligence for threat detection, and the integration of secure access service edge (SASE) solutions. Additionally, the rise of remote work emphasizes the importance of secure remote access and endpoint protection.
By organization size, small & medium enterprise segments held the highest market share in 2022. SMEs increasingly rely on online transactions and digital platforms, making them attractive targets for cyber threats. The growing awareness of cybersecurity risks, coupled with regulatory pressures, drives SMEs to invest in robust cybersecurity solutions.
Additionally, the integration of cloud services and mobile banking in SME operations amplifies the need for comprehensive cybersecurity measures to safeguard sensitive financial data and ensure secure business transactions.
By deployment type, the managed services segment held the highest market share in 2022. Managed services trends driving the banking cybersecurity market include increased reliance on cloud-based security solutions, growing demand for threat intelligence services, and the outsourcing of security operations.
These trends enable financial institutions to enhance their cybersecurity posture efficiently, leveraging specialized expertise and advanced technologies to address evolving threats in the digital landscape.
In North America, the surge in remote banking, increased regulatory scrutiny, and the rising sophistication of cyber threats are key trends propelling the banking cybersecurity market. Financial institutions are compelled to invest in advanced security measures to protect sensitive data, ensure compliance, and mitigate evolving cyber risks.
In January 2024, Palo Alto Networks highlighted unsettling cybersecurity vulnerabilities within the banking sectors, traditionally perceived as strongholds against cyber threats. Surprisingly, only 21% of Chief Information Security Officers (CISOs) in these industries consistently assess recovery plans.
Despite stringent regulations, the sectors lag in cybersecurity resilience, a critical concern given their sensitive operations. A mere 11% of EMEA countries employ advanced cybersecurity controls, with reliance on conventional methods such as business continuity plans, which need a more robust approach to cybersecurity in these critical sectors.
(A free sample of the Banking Cyber Security report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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(Please note that the sample of the Banking Cyber Security report has been modified to include the COVID-19 impact study prior to delivery.)
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Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 77.1 Billion |
| Projected Market Size in 2032 | USD 285.4 Billion |
| Market Size in 2022 | USD 75.9 Billion |
| CAGR Growth Rate | 15.2% CAGR |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Key Segment | By Type, Organization Size, Deployment Type and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Custom Market Insights has comprehensively analyzed banking cyber security market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this banking cyber security industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
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Key questions answered in this report:
- What is the size of the Banking Cyber Security market and what is its expected growth rate?
- What are the primary driving factors that push the Banking Cyber Security market forward?
- What are the Banking Cyber Security Industry’s top companies?
- What are the different categories that the Banking Cyber Security Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Banking Cyber Security market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2023−2032
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Banking Cyber Security Market – Regional Insight
By region, banking cyber security market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global banking cyber security market in 2022 with a market share of 40% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
North America serves as a driving force in the banking cybersecurity market due to several key factors. The region is home to a significant concentration of financial institutions and possesses advanced technological infrastructure.
The constant evolution of cyber threats, combined with the region’s high awareness of cybersecurity risks, compels banks to invest substantially in sophisticated cybersecurity solutions. Moreover, the regulatory environment, such as compliance with frameworks like GDPR and the stringent requirements of financial standards, intensifies the demand for robust cybersecurity measures.
The prevalence of digital transformation in North American banks, including the widespread adoption of online and mobile banking, underscores the critical need for effective cybersecurity strategies. As a result, the combination of technological maturity, regulatory pressures, and the continuous evolution of cyber threats positions North America as a leading driver in shaping and advancing the banking cybersecurity market.
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Browse the full “Banking Cyber Security Market Size, Trends and Insights By Type (Cloud Security, Network Security, Web Security, End Point Security, Application Security, Others), By Organization Size (Small & Medium Enterprise, Large Enterprise), By Deployment Type (Cloud, Private Cloud, Data Center, Managed Services), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/banking-cyber-security-market/
List of the prominent players in the Banking Cyber Security Market:
- Symantec Corporation
- Intel Security
- IBM Corporation
- Hewlett Packard Enterprise
- Rapid7 Inc.
- Cisco Systems Inc.
- FireEye Inc.
- EMC RSA
- Sophos Ltd.
- Trend Micro Inc
- Palo Alto Network
- Microsoft
- Splunk
- Netsparker
- CrowdStrike
- Fortinet
- KnowBe4
- McAfee LLC
- Honeywell International Inc.
- Computer Science Corporation
- Others
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The Banking Cyber Security Market is segmented as follows:
By Type
- Cloud Security
- Network Security
- Web Security
- End Point Security
- Application Security
- Others
By Organization Size
- Small & Medium Enterprise
- Large Enterprise
By Deployment Type
- Cloud
- Private Cloud
- Data Center
- Managed Services
Click Here to Get a Free Sample Report of the Global Banking Cyber Security Market @ https://www.custommarketinsights.com/report/banking-cyber-security-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Banking Cyber Security Market Research/Analysis Report Contains Answers to the following Questions.
- What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Banking Cyber Security Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Banking Cyber Security Market? What Was the Capacity, Production Value, Cost and PROFIT of the Banking Cyber Security Market?
- What Is the Current Market Status of the Banking Cyber Security Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Banking Cyber Security Market by Considering Applications and Types?
- What Are Projections of the Global Banking Cyber Security Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Banking Cyber Security Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Banking Cyber Security Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Banking Cyber Security Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Banking Cyber Security Industry?
Click Here to Access a Free Sample Report of the Global Banking Cyber Security Market @ https://www.custommarketinsights.com/report/banking-cyber-security-market/
Reasons to Purchase Banking Cyber Security Market Report
- Banking Cyber Security Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Banking Cyber Security Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Banking Cyber Security Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Banking Cyber Security Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Banking Cyber Security market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Banking Cyber Security market analysis.
- The competitive environment of current and potential participants in the Banking Cyber Security market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Banking Cyber Security market should find this report useful. The research will be useful to all market participants in the Banking Cyber Security industry.
- Managers in the Banking Cyber Security sector are interested in publishing up-to-date and projected data about the worldwide Banking Cyber Security market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Banking Cyber Security products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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