Cybersecurity in Banking – Thematic Research
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Cybersecurity in Banking Report Overview
Cybersecurity in banking has become more important than ever as the rapid evolution of digital banking has resulted in customers finding it more convenient to manage their finances through online channels, exposing banks and financial institutions to increased levels of cyber threats. The impact of cyberattacks on financial institutions can be catastrophic, so innovation will be needed to counter the continuously evolving cyber threat landscape in the retail banking sector, which includes both channel shifts driven by the pandemic and fallout from the Ukraine-Russia conflict.
Banks are unleashing the power of digital technologies to predict and prevent cyberattacks before they happen. Cybersecurity technologies will help banks shore up their reputation as trusted and secure providers as they digitize amid increased openness.
The Cybersecurity in Banking – Thematic Intelligence research report provides a comprehensive overview on cyber risk and its current and future impact on the baking industry, its key challenges, and the leading adopters and specialist vendors for cybersecurity.
|Market Size (Year – 2020)||$7.9 billion|
|Value Chains||Hardware, Software, and Services|
|Leading banking companies||CaixaBank, Danske Bank, and Deutsche Bank among others|
|Specialist cybersecurity vendors||Akamai, Armis, and Checkmarx among others|
Cybersecurity in Banking – Industry Analysis
The global cybersecurity revenue in the retail banking sector was $7.9 billion in 2020. The market is expected to grow at a CAGR of more than 8% from 2020 to 2025. Cybersecurity technologies will help banks shore up their reputation as trusted and secure providers as they digitize amid increased openness.
Cybersecurity in banking market analysis also covers:
- Mergers and acquisitions
- Patent trends
- Company filing trends
- Hiring trends
- Social media trends
- Cybersecurity timeline
For more insights on how cybersecurity impacting the banking market, download a free report sample
Cybersecurity in Banking – Value Chain Analysis
GlobalData’s Cybersecurity in the banking industry is split into three segments: hardware, software, and services.
With chips now being used in mission-critical servers and safety-critical applications, protecting chips from cyberattacks is becoming more critical and more expensive. Systems vendors such as Apple and Amazon are increasingly designing their chips rather than buying commercially developed devices and intellectual property (IP) created by third-party developers.
The software element of the cybersecurity value chain comprises the following areas: identity management, network security, endpoint security, threat detection & response, cloud security, data security, email security, application security, unified threat management, and vulnerability management.
The services element of the cybersecurity value chain comprises the following areas: managed security services, post-breach response services, and risk & compliance services. Services are typically outsourced because of the complexity of addressing cybersecurity-related issues, such as staying on top of vulnerabilities, identifying & responding to threats, and meeting compliance requirements.
Cybersecurity Value Chains in Banking
For more insights on how cybersecurity is impacting the banking sector, download a free report sample
Leading Cybersecurity Adopters in Banking
Some of the leading banking companies currently deploying cybersecurity are
- Danske Bank
- Deutsche Bank
Specialist Cybersecurity Vendors in Banking
Some of the specialist cybersecurity vendors in the banking are
To know more about leading banking companies associated with the Cybersecurity theme, download a free report sample
Cybersecurity in Banking Sector Scorecard
GlobalData uses a scorecard approach to predict tomorrow’s leading companies within each sector. The sector scorecards help to determine which companies are best positioned for a future filled with disruptive threats. Each sector scorecard has three screens:
- The thematic screen shows who are the overall leaders in the 10 themes that matter most, based on the thematic engine.
- The valuation screen shows whether publicly listed players appear cheap or expensive relative to their peers, based on consensus forecasts from investment analysts.
- The risk screen shows who the riskiest players in each industry are, based on the assessment of four risk categories: operational risk, financial risk, industry risk, and country risk.
Gaming Sector Scorecard – Thematic Screen
To know more about sector scorecards of cybersecurity theme in the banking industry, download a free report sample
Reasons to Buy
- Understand cyber risk and its current and future impact on the industry.
- Understand how key challenges the banking sector is facing have accelerated the need for greater cybersecurity.
- Identify the leading adopters and specialist vendors for cybersecurity.
Cadence Design Systems
Check Point Software
IBM (Red Hat)
Palo Alto Networks
Tata Consultancy Services
Table of Contents
Cybersecurity Value Chain
The Impact of Cybersecurity on Banking
Our Thematic Research Methodology
Frequently asked questions
What was the global cybersecurity market size in 2020?
The global cybersecurity market size in the retail banking sector was $7.9 billion in 2020.
What is the global cybersecurity market growth rate?
The global cybersecurity market is expected to grow at a CAGR of more than 8% from 2020 to 2025.
What are the components of the value chain of cybersecurity in the banking?
GlobalData’s Cybersecurity in the banking industry is split into three segments: hardware, software, and services.
Which companies are the leading vendors of cybersecurity in the banking?
Some of the leading vendors that are deploying cybersecurity in the banking are CaixaBank, Danske Bank, and Deutsche Bank.
Which companies are leading specialists of cybersecurity in banking?
Some of the specialists in cybersecurity in banking are Akamai, Armis, and Checkmarx.
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