Global Cyber Security market in the BFSI sector to grow at a CAGR of 13.14% over the period 2014-2019. Cyber threats are web-based threats such as data thefts and identity thefts. They disrupt IT systems in organizations and hack critical information using malware, spyware, or by phishing. Cyber security solutions help organizations in the BFSI sector to report, monitor, detect, and counter cyber threats while maintaining the confidentiality of information systems. In addition, they can be deployed as on-premises, cloud-based, or hybrid models. In the current scenario, increased internet penetration has given exponential rise to sophisticated attacks on IT business infrastructure. Attackers are increasingly gaining access to sensitive information such as credit card details and other financial information. Organizations in the BFSI sector are adopting cyber security solutions to protect critical information or any kind of digitized information stored in a PC or in any digital memory device.
The need for any business to stay connected 24/7 has encouraged employees to use their personal portable devices such as cellphones, tablets and laptops to gain access and store confidential information, thus increasing the need to protect data.
Many mobile devices are not secure, it can be easy for hackers to gain unauthorized access to mobile devices in corporate networks, which may lead to fraudulent activities with the misuse of business-critical data. Therefore, enterprises are increasingly adopting cyber security solutions to secure their networks and provide employees with secured access to confidential information.
This report covers the present scenario and the growth prospects of the Global Cyber Security market in the BFSI sector for the period 2015-2019. To calculate the market size, the report considers revenue generated from the installation of cyber security solutions in the BFSI sector.
Global Cyber Security Market in the BFSI Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, the MEA region, and North America; it also covers the landscape of the Global Cyber Security market in the BFSI sector and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
The latest report emphasizes the growing demand for cloud-based security solutions. These solutions provide significant advantages, which has increased their demand among organizations.
“Many companies opt for cloud-based IT security solutions that are cost-effective and compatible with payment card industry data security standard regulations and offer round-the-clock monitoring of systems,”.