Research and Markets forecasts that the banking, financial services and institutions (BFSI) security market currently valued at $21.53 billion will reach a market value of $37.35 billion by 2019 at a compound annual growth rate of 11.6 percent.
The firm said Monday that the BFSI security market is segmented into two widely adopted submarkets, the physical security systems and information security solutions.
Physical security covers access control, intrusion detection, video surveillance and physical security information management include information security includes data protection, authentication, risk management and compliance management.
The report details key factors driving growth, new opportunities for growth, and restraints in the marketplace. Also included are details and analysis of key players in the market, such as Booz Allen Hamilton, Cisco, CSC, EMC, Honeywell, IBM, McAfee, Sophos, Symantec, and Trend Micro