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Study: Cloud, Mobile Computing to Drive Financial Services Security Market Growth

Study: Cloud, Mobile Computing to Drive Financial Services Security Market Growth - top government contractors - best government contracting event

cyber security imageResearch and Markets has forecast the global market for cybersecurity offerings within the banking, financial services and insurance sector to yield a 13.14 percent compound annual growth rate through 2019.

The increasing use of cloud security and mobile platforms is projected to drive the BFSI cybersecurity market’s growth over the next four years, the research firm said Friday.

Vendors profiled in the report include BAE Systems, Booz Allen Hamilton, Computer Sciences Corp., FireEye, IBM and Symantec.

The report says BFSI companies use cybersecurity tools to safeguard critical enterprise information or data stored in computers or digital memory devices.

According to Research and Markets, the high cost of implementing a complete system against cyber threats will be among the key issues for industry during the forecast period.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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