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

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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.

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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

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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

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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

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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

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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

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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.

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Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

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SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving IndiaSingapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of IndiaSingapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

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ROYAL CANADIAN MINT REPORTS PROFITS AND PERFORMANCE FOR Q3 2024

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OTTAWA, ON, Nov. 22, 2024 /PRNewswire/ — The Royal Canadian Mint (the “Mint”) announces its financial results for the third quarter of 2024 that provide insight into its activities, the markets influencing its businesses and its expectations for the next 12 months.

“As the markets continue to change, the Mint is proving its ability to seize on new opportunities thanks to its diversified structure and flexible business strategy” said Marie Lemay, President and CEO of the Royal Canadian Mint. 

The financial results should be read in conjunction with the Mint’s annual report available at www.mint.ca . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.

Financial and Operational Highlights

  • The financial results for the third quarter of 2024 were ahead of target and higher than 2023 levels. Higher gold market pricing and foreign circulation volumes combined with lower fixed costs were the main drivers for the quarter over quarter increase.  These increases were partially offset by lower than expected bullion volumes from the continued soft demand in the global bullion market. The Mint expects to meet its financial goals for 2024, as set out in its 2024-2028 Corporate Plan, the Mint’s Leadership team continues to actively monitor its status.
  • Consolidated revenue decreased to $252.7 million in 2024 (2023 – $360.6 million). 
    Revenue from the Precious Metals business decreased to $217.6 million in 2024
    (2023 – $328.4 million):
    • Gold bullion volumes decreased 38% quarter over quarter to 106.1 thousand ounces (2023 – 170.1 thousand ounces) while silver bullion volumes decreased 20% to 2.7 million ounces (2023 – 3.4 million ounces).
    • Gold and silver market prices increased quarter over quarter by 27% and 23%, respectively.
    • Sales of numismatic products decreased 12% quarter over quarter mainly due to the high demand in 2023 for the Queen Elizabeth II’s Reign products.
  • Revenue from the Circulation business increased to $35.1 million in 2024 
    (2023 – $32.2 million):
    • Revenue from the Foreign Circulation business increased 77% quarter over quarter, a reflection of higher volumes produced and shipped in 2024 as compared to 2023.
    • Revenue from Canadian coin circulation products and services decreased 12% quarter over quarter as fewer coins were required to replenish inventories, combined with lower program fees in accordance with the memorandum of understanding with the Department of Finance.
  • Overall, operating expenses decreased 27% quarter over quarter to $28.3 million (2023 – $36.0 million) mainly due to planned reductions in consulting and workforce expenses.

Consolidated results and financial performance 
(in millions) 

13 weeks ended

39 weeks ended

      Change

         Change

September
28, 2024

September
30, 2023

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$

%

September
28, 2024

September

 30, 2023

$

%

Revenue

$

252.7

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$ 360.6

(107.9)

(30)

$    861.2

$ 1,841.8

(980.6)

(53)

Profit (loss) for the

     period

$

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5.7

 

$   (5.8)

 

11.5

 

 

(198)

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$      24.1

 

$      15.0

 

9.1

 

61

Profit (loss) before
     income tax and
     other items 1

$

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1.4

$   (8.7)

10.1

 

(116)

$      12.3

$      23.4

(11.1)

(47)

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Profit (loss) before
     income tax and
     other items margin2

0.6 %

(2.4) %

1.4 %

1.3 %

(1) Profit (loss) before income tax and other items is a non-GAAP financial measure. A reconciliation from profit for the period to profit before income tax and other items is included on page 13 of the Mint’s 2024 Third Quarter Report.

(2) Profit (loss) before income tax and other items margin is a non-GAAP financial measure and its calculation is based on profit before income tax and other items.

 

As at

             September 28, 2024

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December 31, 2023

$ Change

% Change

Cash

$

58.4

$

59.8

(1.4)

(2)

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Inventories

$

71.5

$

68.8

2.7

4

Capital assets

$

174.2

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$

173.0

1.2

1

Total assets

$

376.8

$

380.4

(3.6)

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(1)

Working capital

$

99.2

$

97.8

1.4

1

As part of its enterprise risk management program, the Mint continues to actively monitor its global supply chain and logistics networks in support of its continued operations. Despite its best efforts, the Mint expects changes in the macro-economic environment and other external events around the globe to continue to impact its performance in 2024. The Mint continues to mitigate potential risks as they arise through its enterprise risk management process.

To read more of the Mint’s Third Quarter Report for 2024, please visit www.mint.ca.

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About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours.  As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services.  As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations. 

For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedInFacebook and Instagram

FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES

This Earnings Release contains non-GAAP financial measures that are clearly denoted where presented. Non-GAAP financial measures are not standardized under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other corporations reporting under IFRS.

This Earnings Release contains forward-looking statements that reflect management’s expectations regarding the Mint’s objectives, plans, strategies, future growth, results of operations, performance, and business prospects and opportunities.  Forward-looking statements are typically identified by words or phrases such as “plans”, “anticipates”, “expects”, “believes”, “estimates”, “intends”, and other similar expressions. These forward-looking statements are not facts, but only estimates regarding expected growth, results of operations, performance, business prospects and opportunities (assumptions). While management considers these assumptions to be reasonable based on available information, they may prove to be incorrect. These estimates of future results are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Mint expects. These risks, uncertainties and other factors include, but are not limited to, those risks and uncertainties set forth in the Risks to Performance section of the Management Discussion and Analysis in the Mint’s 2023 annual report, as well as in Note 9 – Financial Instruments and Financial Risk Management to the Mint’s Audited Consolidated Financial Statements for the year ended December 31, 2023. The forward-looking statements included in this Earnings Release are made only as of November 20, 2024 and the Mint does not undertake to publicly update these statements to reflect new information, future events or changes in circumstances or for any other reason after this date.

For more information, please contact: Alex Reeves, Senior Manager, Public Affairs, Tel: (613) 884-6370, [email protected] 

 

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OIVE and ViniPortugal celebrate closing of joint campaign that reached 100 million consumers

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MADRID and PORTO, Portugal, Nov. 22, 2024 /PRNewswire/ — For three years, A Shared Passion showed European consumers the quality and unparalleled versatility of Iberian wines. The program reached over 100 million consumers with advertising in airports, train stations, press trips, digital content, and other actions with opinion leaders.

The wine interprofessionals of Spain (OIVE) and Portugal (ViniPortugal) celebrated the closing of their ambitious joint campaign A Shared Passion with flagship events in Madrid and Porto. The closing event in Spain took place in Madrid’s iconic Calle Alcalá, while in Portugal, the World of Wine (WOW) in Porto was the perfect setting to present the achievements of the international collaboration. Both ceremonies were very well received by the press and the wine sector, highlighting the impact of the promotional actions that reached more than 79.2 million travelers in key transport infrastructures. 

The campaign included 22 study trips, taking 150 specialized journalists to explore the world of wine in both countries and generating publications that reached nearly 15 million European consumers.

On social media, the A Shared Passion profile on Instagram exceeded 15,000 followers, consolidating its presence in the digital sphere. In addition, exclusive activities such as workshops and VIP dinners contributed significantly to this initiative’s global impact. 

The final events were honored by the presence of opinion leaders, such as Masters of Wine Pedro Ballesteros and Dirceu Vianna Júnior, who moderated round tables with the presidents of OIVE, Fernando Ezquerro, and ViniPortugal, Frederico Falcão. The conference concluded with masterclasses that highlighted Spain and Portugal’s extraordinary oenological diversity, reinforcing the relevance of the sector in the economic, social, and environmental sustainability of both countries. 

With funding from the European Union, A Shared Passion highlighted not only the quality and authenticity of Iberian wines but also their strategic role in the sustainable development of numerous municipalities. This initiative underlines the passion with which Spanish and Portuguese wines are made, reflecting their rich traditions and commitment to the future.

For more information: www.asharedpassion.com

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