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Cybersecurity in Banking – Thematic Research

Pages: 61 Published: June 30, 2022 Report Code: GDRB-TR-S049

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.

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.

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

Cybersecurity in Banking 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.

Hardware

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.

Software

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.

Services

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

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

  • CaixaBank
  • Danske Bank
  • Deutsche Bank

Specialist Cybersecurity Vendors in Banking

Some of the specialist cybersecurity vendors in the banking are

  • Akamai
  • Armis
  • Checkmarx

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

Gaming Sector Scorecard – Thematic Screen

To know more about sector scorecards of cybersecurity theme in the banking industry, download a free report sample

Cybersecurity in Banking Market Overview

Report Pages 61
Regions Covered Global
Market Size (Year – 2020) $7.9 billion
CAGR (2020-2025) >8%
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

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.

Key Players

1Password
Accenture
Airbus (Stormshield)
Akamai
Alert Logic
Alibaba
Alphabet (Google)
Alphabet (Siemplify)
Amazon
AMD
Analog Devices
AnyVision
Appgate
Apple
Aqua Security
Arcon
Armis
AT&T
Atos
Attivo Networks
Aware
BAE Systems
Baidu
Barracuda
Barracuda Networks
BeyondTrust
BioEnable
Blackberry
BMC Helix
Broadcom
BT
Cadence Design Systems
CaixaBank
Capgemini
Cato
Check Point Software
Checkmarx
China Telecom
China Unicom
CipherCloud
Cisco
Clear Secure
Clearview
Cloudcheckr
Cloudera
Cloudflare
CloudPassage
CMITech
Code42
Cognitec
Cognizant
Contrast Security
CrowdStrike
CyberArk
Cyberbit
Cybereason
Cynet
D3 Security
Danske Bank
Darktrace
Dashlane
DBS Bank
Delinea
Dell Technologies
Deutsche Bank
Deutsche Telekom
Duo Security
DXC Technology
ekey
Equifax
Ermetic
Exabeam
Expanse
Extreme
EY
Eyelock
F5 Networks
FiVerity
Forcepoint
Forescout
ForgeRock
Fortinet
Foxpass
Fugue
Fujitsu
GitLab
Goldman Sachs
HCL Technologies
Helpsystems
Herjavec Group
HID Global
Hitachi
Horizon Robotics
HPE
HSBC
Huawei
IBM
IBM (Red Hat)
Idemia
iFlytek
Illumio
Ilumio
Impulse
Informatica
Infosys
ING Group
Innovatrics
Intel
Invicti
iProov
Iris ID
IriusRisk
Ironscales
iSignthis
Ivanti
Ivanti (MobileIron)
JPMorgan
Juniper Networks
Kairos
KnowBe4
KPMG
KT
Lacework
LastPass
Lockheed Martin
LogMeIn
LogMeOnce
Logrhythm
Lookout
Lumen Technologies
ManageEngine
Marvell
Megvii
Mentor Graphics
Micro Focus
Micron Semiconductor
Microsoft
Mimecast
MyBank
NCC
Netskope
Nokia
NordPass
Northrop Grumman
NTT Data
NXP Semiconductors
NXT-ID
Okta
Okta
Onapsis
One Identity
OneLogIn
OneSpan
OneTrust
Oracle
Orange
Orca Security
Palantir
Palo Alto Networks
Perimeter 81
Ping Identity
Portnox
Proofpoint
PwC
Qualys
Rapid7
Raytheon BBN
Raytheon Technologies
RedSeal
Renesas
Resolver
RSA
Ruckus
SAIC
SailPoint Technologies
Samsung Electronics
Santander
SecureAuth
SecureOne
Secureworks
Securonix
SenseTime
SentinelOne
Singtel (Trustwave)
Skybox Security
Skyhigh Security
Snyk
Softbank (Arm)
SonicWall
Sophos
Splunk
STMicroelectronics
Sumo Logic
Swimlane
Synopsys
Tanium
Tata Consultancy Services
Tech Mahindra
Tech5
Telstra
Tenable
Tessian
Thales
ThreatConnect
Threatmetrix
Threatmodeler
Tinkoff Bank
TitanHQ
Trellix
Trellix
Trend Micro
TrueFace.AI
Untangle
Veracode
Verizon
Versa
VMware
VMware
WatchGuard
WhiteHat Security
Wipro
Yubico
Zscaler

Table of Contents

Executive Summary

Cybersecurity Value Chain

Banking Challenges

The Impact of Cybersecurity on Banking

Case Studies

Data Analysis

Companies

Sector Scorecard

Glossary

Further Reading

Our Thematic Research Methodology

About GlobalData

Contact Us

Frequently Asked Questions

The global cybersecurity market size in the retail banking sector was $7.9 billion in 2020.

The global cybersecurity market is expected to grow at a CAGR of more than 8% from 2020 to 2025.

GlobalData’s Cybersecurity in the banking industry is split into three segments: hardware, software, and services.

Some of the leading vendors that are deploying cybersecurity in the banking are CaixaBank, Danske Bank, and Deutsche Bank.

Some of the specialists in cybersecurity in banking are Akamai, Armis, and Checkmarx.

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