Global Vulnerability Scanning in BFSI Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. Vulnerability Scanning also known as ‘Vuln Scan is an automated process of scanning and classification of security weaknesses in computers and networks to prevent vulnerability to cyber frauds. Application of vulnerability scanning in Banking and Financial services industry plays important role in protecting the sensitive financial and personal information of customers and employees. The increasing adoption of cloud-based services and growing vulnerabilities in BFSI sector as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to Statista – in 2021, the global cloud applications market was valued at USD 133.6 billion, and the market is projected to grow to USD 168.6 billion by 2025, representing a compound annual growth rate of 4.8 percent. Also, rising prevalence of Cyber-attacks and increasing use of personalized devices in financial services industry would create lucrative growth prospectus for the market over the forecast period. However, high deployment cost associated with Vulnerability Scanning solutions impedes the market growth throughout the forecast period of 2022-2029.
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The key regions considered for the Global Vulnerability Scanning in BFSI Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share due to factors such as presence of leading market players and growing expansion of BFSI sector. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising digitization in financial services sector and growing emergence of neo banks in the region.
Major market players included in this report are:
International Business Machine Corporation
Microsoft Corporation
Trend Micro Inc.
Dell Inc.
Cisco Systems Inc.
Check Point Software Technologies Ltd
Palo Alto Networks
Juniper Networks Inc.
Fortinet Inc.
AVG Technologies
Recent Developments in the Market:
In October 2020, Mastercard launched Cyber Secure, an AI-powered suite of tools that enable banks to assess cyber risk across their ecosystem and prevent potential breaches. In November 2021, AWS launched new vulnerability management solution named Amazon Inspector for organization to inspect vulnerabilities in single click.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component
Software
Hardware
By Vulnerability Type
Content Manager Vulnerability
IOT Vulnerability
API Vulnerability
Others
By Deployment
On-Premises
Cloud
By End-User
Banks
Insurance Companies
Securities
Other Financial Institutions
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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