Market Share of BFSI Security Industry
The BFSI Security Market is highly fragmented, with the presence of major players like Symantec Corporation, Sophos Group Plc., McAfee Inc., IBM Corporation, and Honeywell International Inc., among others. Players in the market are adopting strategies such as partnerships, mergers, innovations, investments, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In November 2022, McAfee, a global leader in online security, announced a partnership with Mastercard to provide online security software to cardholders. The collaboration will allow Mastercard Cardholders to purchase McAfee internet security software.
In October 2022, BPER Banca Group, one of Italy's largest banking groups, announced a four-year partnership with IBM Corporation to assist in accelerating the bank's development into a completely digital corporation. The four-year agreement will expand the bank's hybrid cloud strategy to modernize its technology infrastructure and applications by combining the security, scalability, and reliability of IBM Cloud for Financial Services with the resiliency of IBM z16 and Red Hat OpenShift, a leading Kubernetes platform, to help meet the compliance requirements of the heavily regulated industry.
In February 2022, Cisco and Rakuten signed a strategic agreement to accelerate the open RAN and Telco Cloud Market. The acquisition offers solutions that will allow mobile operators to compete more effectively in the cloud era.
BFSI Security Market Leaders
Symantec Corporation
Sophos Group Plc.
McAfee Inc.
IBM Corporation
Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
