Cyber Security in BFSI Market Size | Share Analysis: USD 195.06 Billion Revenue by 2029, 22.4% CAGR
Cyber Security in BFSI Market to Reach $195.06 Billion by 2029, Driven by Digital Transformation and Regulatory Landscape The global Cyber Security in BFSI (Banking, Financial Services, and Insurance) market is expected to reach USD 195.06 billion by 2029 , growing at a compound annual growth rate (CAGR) of 22.4% from 2023 to 2029, according to a new report. This growth is attributed to several factors, including: Digital Transformation: The BFSI sector has undergone a significant digital transformation, with increased online banking, mobile payments, and other digital services. This shift has created a larger attack surface for cybercriminals, driving the demand for robust cybersecurity solutions. Stricter Regulations: Governments and regulatory agencies worldwide are implementing stricter regulations to protect consumer data and financial institutions from cyberattacks. These regulations are mandating the adoption of advanced cybersecurity measures, further fu