Protecting varied Cyber thefts

The global cybersecurity in the financial services market is expected to expand at a CAGR of 9.81%, leading to a global revenue of USD 42.66 Bn by 2023.

Cybersecurity in finance services 2023

Cybersecurity involves a set of techniques that are designed to protect the integrity of networks, programs, and data, from unauthorized access, cyber attacks, and damages. Of late, cyber attacks in the financial services sector have increased manifold. Cyber attacks against financial services firms increased by over 70% in 2017, which reflects that the financial services sector is currently vulnerable to such attacks. In the future, adoption of effective cybersecurity techniques will become a necessity to reduce the risk of cyber attacks and illegal use of systems, networks, and technologies.

Based on end-user industries, the market is segmented into banking, insurance, stock brokerages, credit unions, investment funds, card and mobile payments, and governments. Among these segments, the card and mobile payments segment are expected to register a high growth rate through the forecast period of 2018-2023. Given that card and mobile payments are being adopted swiftly as a mode of cashless transactions, the risk of cyber attacks increases due to the critical nature of the financial data transmitted in each payment.

By solutions and services, the global cybersecurity in financial services market is categorized into mobile enterprise management, endpoint security, identity and access management (IAM), mobile security, security information and event management (SIEM), content security, data loss prevention (DLP), data center security, and firewall. The mobile enterprise management solution segment is expected to have the highest growth rate owing to its wide adoption in contactless payment systems within various industries.

By regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Asia-Pacific is projected to grow with the highest CAGR in the forecast period of 2018-2023.

Threats and key players

Although cybersecurity in the financial services market is expected to have positive growth globally, lack of adequate funds may act as a hindrance to the growth of the market. Buyers are allocating exorbitant budgets to tackle cyber attacks but the nature of the crimes is evolving every passing day. Spending on new types of cybersecurity tools and services for companies is a major problem for the financial sector and may hinder the growth of the market.

The major cybersecurity providers operating in the financial services market are Experian Information Solutions Inc., IBM Corporation, Accenture PLC., Airbus SE, AlienVault, Inc., etc.

Why buy?

  • Understand the demand for cybersecurity in financial services to determine the viability of operating in the market
  • Identify the developed and emerging markets where cybersecurity services and solutions are provided
  • Identify the challenge areas and address them
  • Develop strategies based on the drivers, trends, and highlights for each of the segments
  • Evaluate the value chain to determine the workflow to get an idea of your current position
  • Recognize the key competitors of this market and respond accordingly
  • Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth
  • Define the competitive positioning by comparing the products and services with the key players in the market

Browse Full Report: Global Cybersecurity in Financial Services Market and forecast 2023

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Aarkstore curates global market research reports from various industry verticals and serves businesses worldwide. As market research report resellers, we at Aarkstore, partner with established publishers for both; syndicated data and customized reports. The market research data supplied by us is up-to-date and reliable for current day industry analysis and future market forecasts equally.

Avail market research reports from us and gathers critical information about customer preferences, market requirements, key drivers and challenges for your business to align your strategies with them. The comprehensive overview of the market provided will allow you to make insight-driven decisions giving you an upper hand in the competitive landscape

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Indian Telecom Sector: A complete Breakdown

Telecom industry has long been associated with manageable profits in the Indian economy. The growth of growing competition has accustomed liability in several financial sectors. While some telecom biggies have outshone others, several did deliver below the level performance signaling a takeover and eventual bankruptcy.

india telecom sector

According to India Telecom Service Market Forecasts and Technology, Market Research Reports a rising growth has been seen in the telecom industry recently. The consolidations in the sector are unlikely to decline in the coming decade.

Reliance Jio Infocomm Ltd led by the business tycoon Mukesh Ambani is continuing to focus on a subscriber acquisition and retention process. This was quite noticeable at the beginning of the firms most aggressive price in the year 2017. Currently, it has been making a move to extend Jio Prime benefits for no such extended fee. Consequently, Jio’s market share widened 20 percent more than of the march end as reported by TRAI, Telecom Regulatory Authority of India.

Airtel, previously led the telecom market with a market share of around 26 percent, as stated by several Telecommunication Market Research Reports. The number of telephone subscribers in India for Bharti Airtel rose from 1,185.88 million for the month of November to a rising 1190.67 million for the month of December last year.

Not far behind, Bharat Sanchar Nigam Limited, commonly known as BSNL had also fixed its spot at top five operators of India with a market share of around 9.5 percent. The scenario of private telcos of BSNL has 90.45 percent of market share in India whereas state-owned telecoms held a share of 9.55 percent.

Vodafone and Idea had merged previously giving a neck to neck competition to Airtel. Consequently, recent market research reports have claimed that the merger between the two biggies has resulted in dethroning Airtel which was ruling the telecom market for two decades. The merger is approved by the government of India has been reported to be worth of $23Billion, with a market share of 35 percent and subscriber of 430 Million customers.

With wireless telecommunication not far behind the subsequent loop, players like Hathaway have emerged as giving a top competition to the existing biggies of Reliance, Airtel, and Idea.

In the wireless domain, Airtel has been reported to have around 25.57 percent of share with Vodafone and Idea following with 18.76 and 17.47 respectively. Reliance in terms of wireless communication is growing with 15.31 percent of share.

Hathaway has been reported to have around 0.75 million subscribers in the whole of India, which has been a major fundamental trade in attaining the required target.

The competition is not likely to go down soon, as major players listed above are dominating most part of India as well as the Asian subcontinent. Additionally, the status of Indian Telecom sector has been largely divided by these telecom biggies namely, Bharti-Airtel, Idea-Vodafone, BSNL-MTNL, and Reliance Jio. The current trend in this structure is further helping the companies grow according to their own proposed manner, stated by market research reports.

About Aarkstore Enterprise

Aarkstore curates global market research reports from various industry verticals and serves businesses worldwide. As market research report resellers, we at Aarkstore, partner with established publishers for both; syndicated data and customized reports. The market research data supplied by us is up-to-date and reliable for current day industry analysis and future market forecasts equally.

Avail market research reports from us and gathers critical information about customer preferences, market requirements, key drivers and challenges for your business to align your strategies with them. The comprehensive overview of the market provided will allow you to make insight-driven decisions giving you an upper hand in the competitive landscape

Apply for Customized Research Report – https://www.aarkstore.com/custom-research.php

For more inquiry contact our sales team at contact@aarkstore.com

Contact Details:

Aarkstore Enterprise

Phone: +91 998 729 5242

Our blog: https://www.aarkstore.com/blog/

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India Smartphone Market and Forecast 2020

India Smartphone Market Outlook, 2020 gives a comprehensive analysis of the smartphone industry in India as well as worldwide. The mobile phone market is constantly in a state of flux and has become highly competitive with major international players facing strong competition from the local players, thus creating difficulties for manufacturers to retain their market shares.

India Smartphone Market

A few years ago, feature phones ruled the roost and having internet connectivity on the phone was considered a luxury in India. But now times have changed and this is the era of the smartphone. Smartphones have become such an integral part of our daily lives that there is actually a term for those who live with the fear of being without their smartphones – Nomophobia. It is no big a news that India has had a flourishing market for digital devices in the past few years, as the country is already adorned with the presence of sizeable smartphone users. People who were earlier prone to using feature phones have now become a part of the smartphone culture. This has paved the way for handset makers to enter into the smartphone industry, who were previously manufacturing features phones only. Samsung, Micromax, Lenovo, and Motorola together have seized more than 40% of the market share out of the overall smartphone market in India. Samsung enjoyed its leadership in 2016 with its flagship smartphone Galaxy J models as this series packs a punch with locally developed Ultra Data Saving (UDS) mode, S bike mode, and Turbo Speed Technology. The huge popularity of these ‘Make for India’ features shows that localization is extremely important for technology to succeed. It also highlights the world-class innovation being done by Samsung India’s research & development (R&D) teams. Apart from this, many new smartphone brands were seen entering the Indian market to cut a share in one of the most lucrative market. A year ago, two major Chinese brands OPPO and Vivo entered the Indian smartphone market, making a life for the local manufacturers even more nightmarish by pushing these brands to compete even more fiercely than before.

One of the most important factors that have traditionally influenced the country’s market has been the value-for-money mindset of the Indian consumer. With consumers wanting the best quality of smartphones at the most pocket-friendly prices, manufacturing in India will help OEMs in cutting down their manufacturing costs; not only will India-based manufacturing unlock access to cheaper labor and raw materials, but also elude the need to pay a customs duty.

The surge of smartphones available through online platforms have also given many vendors the upper hand in the smartphone market, as manufacturers like Xiaomi pushed the sale of their smartphones through e-commerce giants like Flipkart, Amazon, Snapdeal etc. With a plethora of smartphone brands popping up each year in India, along with a glut of smartphone variants available for users to choose from, each and every smartphone is fighting a never-ending battle, vying for their share in the market pie.

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Category: Technology Market Research Reports

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