Thursday 23 April 2015, Amsterdam
The report recognizes the following companies as the key players in the Global Cyber Security Market in the BFSI sector: BAE Systems plc, Booz Allen Hamilton Inc., Computer Sciences Corp. (CSC), Symantec Corp. and TrendMicro Inc.
Other Prominent Vendors in the market are: 41st Parameter, Check Point, Crewe Fox, FireEye, IBM, Skybox Security, ThreatMetrix, Verint Systems and WhiteHat Security.
The report said: “The demand for cloud-based security solutions is one key trend in the market. End-users prefer cloud-based security solutions because they are cost-effective and can be easily managed. The introduction of cost-effective cloud-based solutions encourages both large enterprises and SMEs in the BFSI sector to adopt other cyber security solutions.”
According to the report, one of the major drivers in the market is the increased use of mobile devices. The increased use of mobile devices such as tablets and laptops has increased the complexity of identification issues. The increase in the integration of networks with employees' mobile devices has escalated the need for security solutions to prevent misuse of confidential data through fraudulent activities.
Further, the report states that the high cost of implementation of cyber security solution is one of the major challenges in the market. Implementing a complete traditional cyber security solution usually takes time. This increases the criticality of the implementation process because once the deployment of cyber security solutions starts, it becomes expensive to make any changes later.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.