Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech PR

Banking BYOD Security Market to Reach $63,305.28 Million, Globally, by 2032 at 22.7% CAGR: Allied Market Research

Published

on

the-event-insurance-market-to-reach-$23-billion,-globally,-by-2032-at-12.7%%-cagr:-allied-market-research

The banking BYOD security market is driven by the adoption of containerization. Containerization involves isolating work-related applications and data within secure containers on employees’ personal devices. This trend ensures a higher level of security by separating corporate data from personal information and applications, reducing the risk of data breaches and unauthorized access.

PORTLAND, Ore., July 5, 2023 /PRNewswire/ — Allied Market Research published a report, titled,Banking BYOD security Market by Component (Solution and Service) Device Type (Laptop, Smartphone & Tablet), Security Type (Device Security, Email Security, Application Security, Mobile Content Security, Network Security, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global banking BYOD security industry generated $8,431.92 million in 2022, and is anticipated to generate $63,305.28 million by 2032, witnessing a CAGR of 22.7% from 2023 to 2032.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/10685

Prime Determinants of Growth

BYOD allows employees to work on their preferred devices, leading to higher productivity and efficiency due to familiarity and comfort. Adopting BYOD reduces hardware costs for banks as employees use their personal devices instead of dedicated devices provided by the organization strengthening the market growth. In addition, BYOD enables employees to work remotely or during non-traditional hours, improving work-life balance and increasing job satisfaction. Furthermore, employees use their own devices with personalized settings and applications, resulting in a more seamless and enjoyable user experience. Such factors enhance market growth. However, BYOD introduces potential security vulnerabilities, such as lost or stolen devices, unauthorized access, and malware threats, requiring robust security measures to mitigate risks. On the contrary, BYOD security solutions present opportunities to implement strong authentication methods like biometrics and multi-factor authentication, improving overall security. Moreover, the growing market for MDM solutions tailored for the banking industry provides centralized control and management of devices, applications, and security policies. Banks can offer specialized security services to customers, such as secure banking applications, encryption services, and secure VPN connections, to enhance their overall banking experience and build trust, which is expected to create lucrative opportunities for market growth.

Report Coverage & Details:

Report Coverage

Details

Forecast Period

2023–2032

Advertisement

Base Year

2022

Market Size in 2022

$8,431.92 million

Market Size in 2032

$63,305.28 million

CAGR

22.7 %

No. of Pages in Report

256

Advertisement

Segments covered

Component, Device Type, Security Type, and Region.

Drivers

Employee productivity and flexibility

Employee satisfaction and retention

Increase in mobile banking and customer expectations

Opportunities

High prevalence of advanced and innovative technologies

Restraints

Security concerns

Advertisement

Lack of employee education and awareness

 

COVID-19 Scenario

  • The impact of COVID-19 on the banking BYOD security market has been predominantly positive. The pandemic led to increased adoption of BYOD policies, allowing employees to use their personal devices for work-related tasks owing to the increased need for BYOD security solutions in order to reduce the risk involved.
  • In addition, the pandemic has accelerated the adoption of digital payment solutions. BYOD security enables banks to expand their digital payment offerings, such as mobile wallets and contactless payment options. By assuring the security of various payment solutions on personal devices, banks can capitalize on the growing demand for cashless transactions and provide simple payment options to their clients, Therefore, during the pandemic, some factors such as collaboration with fintech companies, and expansion of digital payment solutions accelerated the adoption of banking BYOD security market.

The solution segment to maintain its leadership status throughout the forecast period

Based on component, the solution segment held the highest market share in 2022, accounting for more than two-thirds of the global banking BYOD security market revenue and is estimated to maintain its leadership status throughout the forecast period, attributed to the fact that banking BYOD security solutions provide features such as device encryption, remote data wipe, and policy enforcement to protect against unauthorized access or data breaches. Moreover, by implementing robust BYOD security solutions, banks can provide employees with the flexibility to work from their preferred devices while ensuring data security, which enhances employee productivity and satisfaction. Therefore, such factors are expected to create market growth opportunities. However, the service segment is projected to manifest the highest CAGR of 24.9% from 2023 to 2032, which has created a demand for robust security services. Companies can capitalize on this trend by developing advanced security services, offering consulting services, providing mobile threat intelligence, and delivering compliance and regulatory services tailored for the banking sector.

The laptop segment to maintain its leadership status throughout the forecast period 

Based on device type, the laptop segment held the highest market share in 2022, accounting for more than two-thirds of the global banking BYOD security market revenue, this is because BYOD security solutions for laptops in the banking industry have become increasingly important in recent years. As more employees use their personal laptops for work-related tasks, it has become crucial for banks to implement robust security measures to protect sensitive financial data. However, the smartphone and tablet segment is projected to manifest the highest CAGR of 24.8% from 2022 to 2032, this is because these solutions aim to protect sensitive financial data and ensure secure access to banking services on personal devices. Mobile device management, mobile application management, and secure containerization are the key components of a banking BYOD security solution, as this software enables IT administrators to manage and secure mobile devices used in the banking environment.

The device security segment to maintain its leadership status throughout the forecast period 

Based on security type, the device security segment held the highest market share in 2022, accounting for around one-third of the global banking BYOD security market revenue, this is attributed to the growing threat landscape, because sophisticated hackers and malware, necessitates constant advancements in security technologies and practices. In addition, regulatory requirements and industry standards continue to shape device security by mandating specific safeguards and data protection measures. However, the mobile content security segment is projected to manifest the highest CAGR of 26.6% from 2022 to 2032. The increasing use of personal mobile devices in banking, along with the benefits of productivity, cost savings, and employee satisfaction, along with advancements in security technologies, are the major growth factors driving the adoption of BYOD security for mobile content security in the banking industry.    

Want to Access the Statistical Data & Graphs, and Key Players’ Strategies: https://www.alliedmarketresearch.com/banking-byod-security-market/purchase-options 

North America to maintain its dominance by 2032

Advertisement

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global banking BYOD security market revenue. This is because consumers in this region prefer mobile banking and banks are also developing user-friendly mobile applications that allow customers to perform a wide range of transactions conveniently. Furthermore, consumers in this region are using mobile banking services that offer features such as fund transfers, bill payments, mobile check deposits, and real-time account monitoring, which can witness serious cyber-attacks. Thus, the adoption of banking BYOD security in North America is growing at a faster rate, which is driving market growth in this region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 25.7% from 2023 to 2032 and is likely to dominate the market during the forecast period, this is because banks in this region are investing in digital platforms and mobile applications to provide convenient and accessible banking services to customers. Furthermore, banks in this region are adopting the practice of BYOD which in turn gives opportunities for the banking BYOD security to grow their market in this region, as the rate of hackers and cyber-attacks in countries such as India, Bangladesh and others is growing. Therefore, the adoption of banking BYOD security is projected to grow in this region.

Leading Market Players: –

  • Broadcom (Symantec)
  • BlackBerry Limited.
  • Cisco Systems, Inc.
  • Check Point Software Technologies Ltd
  • Fortinet, Inc.
  • IBM corporation
  • Palo Alto Networks, Inc
  • Sophos Ltd.
  • Trend Micro Incorporated.
  • VMware, Inc.

The report provides a detailed analysis of these key players in the global banking BYOD security market. These players have adopted different strategies such as partnership, expansion, and product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the banking BYOD security market forecast from 2023 to 2032 to identify the prevailing banking BYOD security market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the banking BYOD security market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global banking BYOD security market trends, key players, market segments, application areas, and market growth strategies.

Banking BYOD Security Market Report Highlights

By Component

  • Solution
  • Service

By Device Type

  • Laptop
  • Smartphone and Tablet

By Security Type

  • Others
  • Device Security
  • Email Security
  • Application Security
  • Mobile Content Security
  • Network Security

By Region

  • North America (U.S., Canada)
  • Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA (Latin America, Middle East, Africa)

Key Market Players

Palo Alto Networks, Inc., Trend Micro Incorporated., Fortinet, Inc., BlackBerry Limited, Broadcom (Symantec), Cisco Systems, Inc., Check Point Software Technologies Ltd., VMware, Inc., IBM Corporation, Sophos Ltd.

Procure Complete Report (303 Pages PDF with Insights, Charts, Tables, and Figures) @  https://bit.ly/43bS4zl

Trending Reports in BFSI Industry (Book Now with 10% Discount + COVID-19 Scenario):

Europe Open Banking Market by Financial Service (Banking & Capital Markets, Payments, Digital Currencies, and Value-added Services) and Distribution Channel (Bank Channel, App Market, Distributors and Aggregators): Opportunity Analysis and Industry Forecast, 2021-2030

Banking-as-a-Service Market By Component (Platform and Service), Type (API-based Bank-as-a-service and Cloud-based Bank-as-a-service), Enterprise Size (Large Enterprises and Small & Medium Enterprises), and End User (Banks, FinTech Corporations/NBFC, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

AI in Banking Market by Component (Solution and Service), Enterprise Size (Large Enterprise and SMEs), Applications (Risk Management Compliance & Security, Customer Service, Back Office/Operations, Financial Advisory and Others) and Technology (Machine Learning & Deep Learning, Natural Language Processing (NLP), Computer Vision and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Advertisement

Cybersecurity in Banking Market by Component (Solutions, Services), by Security Type (Network Security, Application Security, End Point Security, Cloud security, Others), by Deployment (On-Premise, Cloud) and by Enterprise Size (Large Enterprise, Small and Medium Enterprises): Global Opportunity Analysis and Industry Forecast, 2023-2032

Secured Payment Solution Market by Payment Method (Credit Card, Debit Card, E-Wallet, Others) and by Application (Hospitality, Healthcare, Retail, Telecom Utility, E-commerce, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: 
https://blog.alliedmarketresearch.com
Follow Us on | 
Facebook LinkedIn YouTube |

Logo: https://mma.prnewswire.com/media/636519/3950895/Allied_Market_Research_Logo.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/banking-byod-security-market-to-reach-63-305-28-million-globally-by-2032-at-22-7-cagr-allied-market-research-301870189.html

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech PR

DAMAC International Expands Presence in APAC with New Office in Hong Kong

Published

on

damac-international-expands-presence-in-apac-with-new-office-in-hong-kong

Strategic launch to cater to the growing demand for luxury real estate across Asia-Pacific

HONG KONG, Nov. 5, 2024 /PRNewswire/ — DAMAC International, a global leader in luxury real estate, has officially opened its new office in Hong Kong, marking its third office in the Asia-Pacific (APAC) region. This expansion is part of DAMAC’s broader vision to strengthen its presence in one of the world’s fastest-growing regions, renowned for its rapid investment growth. The Hong Kong office is a strategic gateway to the APAC market. It allows DAMAC to better serve its expanding clientele by offering direct access to its prestigious properties in Dubai and other international locations, such as London and Miami.

The Hong Kong office will provide investors across the region access to personalised services, offering exclusive insights into DAMAC’s luxury residential towers, branded residences, and lifestyle communities. As demand from the APAC region continues to rise, DAMAC is poised to offer high-end real estate investment opportunities that cater to the needs of discerning clients.

Talking about the opening, Abbas Sajwani, Board Member, DAMAC International, stated: “This is yet another milestone in our expansion into the APAC region. The new office will allow us to be closer to our clientele. It is a testament to our belief in the region’s potential and commitment to providing top-tier investment opportunities in luxury development.”

By establishing this new office, DAMAC continues positioning itself as a leading player in the global real estate market. It further strengthens its ability to connect with clients to provide unparalleled luxury investment opportunities for long-term value.

About DAMAC International

DAMAC International has been at the forefront of the Middle East’s luxury real estate market since 2002, delivering award-winning residential, commercial and leisure properties across the region and internationally, including in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the United States, as well as the United Kingdom.

Advertisement

Since then, the company has delivered more than 47,000 homes with over 40,000 more in diverse planning and development phases. Joining forces with some of the world’s most eminent fashion and lifestyle brands to create tremendous living experiences, such as with Versace, Roberto Cavalli, or de GRISOGONO. With a consistent vision and momentum, DAMAC is building the next generation of luxury living across the globe.

Live the Luxury.

Visit us at www.damacgroup.com 

Photo: https://mma.prnewswire.com/media/2548365/DAMAC_International_Hong_Kong.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/damac-international-expands-presence-in-apac-with-new-office-in-hong-kong-302295571.html

Continue Reading

Fintech PR

GTN and SBI Group collaborate to launch “SBI Saudi Arabia Equity Exchange Traded Fund (ETF)”

Published

on

gtn-and-sbi-group-collaborate-to-launch-“sbi-saudi-arabia-equity-exchange-traded-fund-(etf)”

The launch marks the first ETF dedicated to investing in the Saudi Arabian stock market listed on the Tokyo Stock Exchange.

DUBAI, UAE, Nov. 4, 2024 /PRNewswire/ — GTN and SBI Holdings announced on October 30 at FII 8th Edition 2024 in Riyadh the launch of the “SBI Saudi Arabia Equity Exchange Traded Fund (ETF)”- a groundbreaking ETF dedicated to investing in the Saudi Arabian stock market and listed on the Tokyo Stock Exchange. This fund marks a significant milestone as it represents the first ETF focusing exclusively on Saudi equities to be accessible to Japanese investors.

The collaboration between GTN and SBI Group stems from a Memorandum of Understanding (MOU) signed in May 2024 in Tokyo at the Saudi Japan Vision 2030 Event in the presence of H.E. Eng. Khalid bin Abdulaziz Al-Falih, the Minister of Investment.

Inspired by Vision 2030, the ETF is expected to reflect the performance of the Saudi market and attract Japanese investors due to Saudi Arabia’s significant economic transformation, sustainable growth, and advanced financial infrastructure. The ETF will be managed to achieve investment results linked to the “MSCI Saudi Arabia Index (yen equivalent basis)”. SBI Asset Management received the regulator’s approval, and the ETF was successfully listed on the Tokyo Stock Exchange on October 31, 2024. 

As per the MOU signed between the parties, SBI Asset Management will be responsible for creating, managing and promoting the ETF in Japan, while GTN will provide research, execution, clearing and settlement services to the ETF. 

SBI Group is a strategic investor of GTN and a key partner in GTN’s expansion plans in Asia.   

The Chairman of GTN and its mother company NTG, Mohammed Rashid Al Ballaa said: “We are excited about the collaboration between SBI Group and GTN to launch the first-ever Saudi-focused ETF in Japan. SBI Group has access to over 10 million customers and is ideally suited to promote an ETF linked to the Saudi market in Japan. This milestone was achieved thanks to Mr. Yoshitaka Kitao, the visionary leader and founder of SBI Group.” “The ongoing support of the Saudi Stock Exchange and the Ministry of Investment in Saudi Arabia were also essential success factors in reaching this milestone,” said Mr. Al Ballaa.      

At the FII conference in Riyadh, Mr. Yoshitaka Kitao said: “I am excited to be in the Kingdom and see the development that has taken place over the past few years. I am also excited to see the unfolding of the Vision 2030. I am confident that the Saudi Arabia ETF will provide Japanese investors the opportunity to participate and be part of the growth journey of Saudi Arabia.” 

About GTN

GTN is a fintech pioneer with decades of success, holding broker-dealer and capital markets services licenses in multiple jurisdictions through subsidiaries. We are committed to empowering brokers, banks, asset managers, and fintechs with scalable and innovative investment and trading solutions that enable access to a comprehensive network of global markets and multiple asset classes, making investment and trading accessible to all.

Advertisement

GTN brings together a diverse team of over 500 talented individuals spread across Brazil, Hong Kong, Saudi Arabia, Singapore, South Africa, Sri Lanka, the UAE, the UK, and the US, united by a shared passion and purpose: empowering clients and transforming the accessibility to investment and trading opportunities for all.

GTN is backed by strategic investors IFC, a member of the World Bank Group, and SBI Group, one of the largest financial services firms listed on the Tokyo Stock Exchange. To learn more, visit www.gtngroup.com or follow us on LinkedIn.

About SBI Group

Over 25 years of successful track record, SBI Group has become one of the largest FinTech companies in Japan. Listed on the Tokyo Stock Exchange, the SBI Group has over 19,000 employees and 685 group companies. SBI Group’s main businesses are financial services, asset management, investment business, Crypto-assets and Next Gen businesses such as biotechnology, healthcare and Web3.

SBI Group companies include SBI Securities, Japan’s number one online securities company, SBI Sumishin Net Bank, Japan’s largest internet bank in terms of deposit amount, and a variety of other financial companies.

Logo: https://mma.prnewswire.com/media/1904122/5005459/GTN_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/gtn-and-sbi-group-collaborate-to-launch-sbi-saudi-arabia-equity-exchange-traded-fund-etf-302295537.html

Continue Reading

Fintech PR

CBH Compagnie Bancaire Helvétique appoints Enid Yip as CEO of CBH Asia

Published

on

cbh-compagnie-bancaire-helvetique-appoints-enid-yip-as-ceo-of-cbh-asia

GENEVA, Nov. 4, 2024 /PRNewswire/ — Swiss private banking group CBH Compagnie Bancaire Helvétique announces the appointment of Enid Yip as the new CEO of its subsidiary CBH Asia. Mrs Yip will also lead the Asia Regional Committee. Based in Hong Kong, CBH Asia is a key part of the Group’s strategic commitment to expand its presence in the region.

Concurrently, Patrick Wong, who has overseen the Asia business since 2017, has been appointed Deputy Chief Executive Officer. Mr Wong will continue to manage Operations, Regulatory and Compliance, and IT, while Mrs Yip will focus on enhancing the firm’s client offering and driving business development in line with the Group’s long-term strategy for Asia. With its entrepreneurial approach and exclusive and bespoke investment offering, CBH Asia offers compelling advantages to clients and relationship managers in the region.

A seasoned executive, Mrs Yip brings over 25 years of experience in successfully growing wealth management institutions in Asia. Most recently she was with LGT. Prior to that, she was a Member of the Board at Bank J. Safra Sarasin, having previously served as their Chief Executive Officer, Asia, overseeing the bank’s expansion in the region. Earlier in her career, Mrs Yip held various senior positions in the private banking industry.

Simon Benhamou, CBH Bank Chief Executive Officer said: “We are delighted to welcome someone of Enid’s calibre to lead CBH Asia. Her extensive experience and strong leadership will be instrumental in furthering our growth in key Asian markets. Our people are our greatest asset and with Enid’s strong commitment to our core values of entrepreneurship and teamwork, we are confident that she will further strengthen CBH Asia’s success. We extend our best wishes to Enid on her appointment.”

Mrs Yip said: “I am delighted to be joining a Group that fosters an environment where we can achieve great results by pursuing excellence with creativity. I am determined to expand CBH’s footprint in the region, building on our established expertise and maintaining our long-term vision of adding value for both clients and stakeholders.”

About CBH | Compagnie Bancaire Helvétique

CBH Compagnie Bancaire Helvétique is a family-owned Swiss banking group founded in 1975. Headquartered in Geneva, the Group currently counts close to 309 professionals in 10 locations around the world. As of December 31st, 2023 client assets totaled CHF 14.3 billion and the Group’s Tier 1 ratio was 43%, placing it among the best capitalized banks in Switzerland compared to its peers.

Advertisement

CBH Group provides wealth management services to private and institutional clients, as well as several complementary business lines, including family office solutions, asset services & structuring, exclusive private markets expertise, and bespoke daily banking and card solutions.

Photo – https://mma.prnewswire.com/media/2548457/CBH_Enid_Yip.jpg
Logo – https://mma.prnewswire.com/media/2186498/5006282/CBH_Logo.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/cbh-compagnie-bancaire-helvetique-appoints-enid-yip-as-ceo-of-cbh-asia-302295620.html

Continue Reading

Trending