Cybersecurity For Critical Infrastructure In Financial Sector Market To Reach $17,465.33 Mn By 2032, At 38.6% CAGR

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Cybersecurity for Critical Infrastructure in financial Sector Market

Cybersecurity for Critical Infrastructure in Financial Sector market to Reach $725.4 Million by 2032, at 38.6% CAGR

NEW CASTLE, DELAWARE, UNITED STATES, May 21, 2024 /EINPresswire / -- According to a recent report published by Allied Market Research, titled, Global Cybersecurity for Critical Infrastructure in the Financial Sector Market by Component (Solution and Service), Deployment Mode (On-Premise and Cloud), and industry (Fintech, banking and Insurance): Global Opportunity Analysis and Industry Forecast, 2023–2032. According to the report, the global cybersecurity for critical infrastructure in the financial sector industry generated $9,012.96 million in 2022, and is anticipated to generate $17,465.33 million by 2032, witnessing a CAGR of 6.9% from 2023 to 2032.

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Prime determinants of growth

Growing complex cyber threats and increasing interconnectedness and interdependence are two main significant factors driving the growth of cybersecurity for critical infrastructure in the financial sector market. Technical debt caused by legacy systems to hamper the cybersecurity for critical infrastructure in the financial sector market growth. Moreover, lack of cybersecurity skills and professionals to provide significant opportunity for cybersecurity for critical infrastructure in the financial sector market growth.

The solution segment to maintain its leadership status throughout the forecast period

Based on component segment, the solution segment attained around three-fourths of the market-share and will continue to dominate the market for the forecast period. This is due to the large presence of cybersecurity solutions in the global market. However, from 2023 to 2032, the service is expected to grow at the fastest rate of 10.3%. This is due to the increasing third-party cybersecurity service providers across the globe.

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The on-premises segment to maintain its leadership status throughout the forecast period

Based on deployment mode, the on-premise segment held the highest market share in 2022, accounting for around three-fifths of the cybersecurity solution for critical infrastructure in the financial sector market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to the high amount of trust of companies over on-premise infrastructure as the companies have full control over their premises and they do not have to depend on a third party. However, from 2023 to 2032, the cloud segment is expected to grow at the fastest rate of 8.5%. This is due to the business becoming increasingly adaptable and digital to the cloud.

The fintech segment to maintain its leadership status throughout the forecast period

Based on industry, the fintech segment held the highest market share in 2022, accounting for around half of the cybersecurity solution for critical infrastructure in the financial sector market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to the growing development of digital payment applications and internet banking facilities all across the globe. However, from 2023 to 2032, the insurance segment is expected to grow at the fastest rate of 8.2%. This is due to the presence of large volume of customer sensitive data present in the insurance database.

The North America segment to maintain its leadership status throughout the forecast period

Based on region, North America region held the highest market share in 2022, accounting for more than one-third of the cybersecurity for critical infrastructure in the financial sector market revenue and is estimated to maintain its leadership status throughout the forecast period. This is due to the presence of large number of fintech companies in the region and large number of cyber-attacks occurring in the region. However, from 2023 to 2032, the Asia-Pacific segment is expected to grow at the fastest rate of 11.1%. This is due to increasing growth of financial technology start-ups in the region and investment of giant fintech companies in the region from across the globe.

Leading Market Players: -

Accenture
Broadcom Inc.
Zscaler
HCL Technologies
Rapid7
Wipro Inc.
Okta Inc.
Tata Consultancy Services
L&T Technology Services Limited
Infosys

The report provides a detailed analysis of these key players of the global cybersecurity for critical infrastructure in the financial sector market. These players have adopted different strategies such as new product launch, strategic alliance and other strategies to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cybersecurity for critical infrastructure in financial sector market analysis from 2022 to 2032 to identify the prevailing market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the cybersecurity for critical infrastructure in financial sector market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global cybersecurity for critical infrastructure in financial sector market trends, key players, market segments, application areas, and market growth strategies.

Cybersecurity for Critical Infrastructure in Financial Sector Market Report Highlights

By Deployment Mode

On-Premise
Cloud

By Industry

Fintech
Banking
Insurance

By Component

Solution
Service

By Region

North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Gcc Countries, South Africa, Rest of Middle East And Africa)
Key Market Players

Zscaler, Wipro Inc., HCL Technologies, Tata Consultancy Services (TCS), Rapid7, Okta Inc., L&T Technology Services Limited (LTTS), Infosys Limited, Broadcom Inc., Accenture

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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