Threat Intelligence in BFSI Market Thriving, Expected
Open PR – Allied Market Research
The threat intelligence market for the banking, financial services and insurance (BFSI) sector is thriving and expected to surpass $29.8 billion by 2031, growing at a CAGR of 21.5%
Key growth drivers include rise in security breaches/cybercrimes, increasing demand for professional and managed security services in BFSI, and evolution of next-gen security solutions
The solutions segment held the largest market share in 2021 but the services segment is projected to grow at the highest CAGR of 25.9% during 2022-2031
On-premises deployment led the market in 2021 but cloud deployment is expected to grow at the highest CAGR of 27.8% through 2031
Large enterprises accounted for over 75% market share in 2021 but SMEs are projected to grow at a higher 25.1% CAGR
Asia-Pacific is expected to be the fastest growing regional market with a 24.4% CAGR, though North America held the highest revenue share in 2021
COVID-19 boosted demand for AI cybersecurity and threat intelligence solutions for digital banking during the pandemic
Key players include IBM, Cisco, AT&T, DXC, McAfee, ThreatConnect, VMware, Fortinet, Trend Micro and Broadcom among others.
Link: https://www.openpr.com/news/3440417/threat-intelligence-in-bfsi-market-thriving-expected