The North America Cybersecurity for Critical Infrastructure in Financial Sector Market would witness market growth of 5.9% CAGR during the forecast period (2024-2031).
The US market dominated the North America Cybersecurity for Critical Infrastructure in Financial Sector Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,823.8 Million by 2031. The Canada market is experiencing a CAGR of 6.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6.7% during (2024 - 2031).
The financial sector is one of the most critical and vital components of any economy, responsible for maintaining the flow of capital, managing investments, and securing assets. As digital transformations continue to reshape this sector, the increasing dependency on information technology (IT) and digital platforms exposes financial institutions to cybersecurity risks.
The applications of cybersecurity for critical infrastructure in the financial sector span a wide range of operations, each playing a key role in maintaining the integrity and security of financial systems. Critical infrastructure in this sector includes payment systems, customer data storage, online banking, trading systems, mobile applications, financial exchanges, and regulatory compliance mechanisms.
The surge in fraud losses in the USA and growing concerns over financial security in Canada are pivotal factors driving the demand for cybersecurity for critical infrastructure in the financial sector. In the USA, fraud losses reached an alarming $10 billion in 2023, marking a 14% increase from 2022, highlighting the increasing vulnerability of financial systems to cyber threats. In Canada, the rise in digital transactions, mobile banking, and e-commerce has similarly led to an increased risk of cyber threats targeting financial institutions. While Canada has not yet seen fraud losses on the scale of the USA, the financial sector is not immune to the growing challenges posed by cybercrime. Canada’s increasing reliance on digital banking and fintech platforms means that its financial systems are also at risk of fraud, data breaches, and other cyberattacks. Therefore, the rising fraud losses in the USA and the growing digital transformation of Canada’s financial sector are major drivers for the expansion of the market.
Free Valuable Insights: The Cybersecurity for Critical Infrastructure in Financial Sector Market is Predict to reach USD 14.68 Billion by 2031, at a CAGR of 6.5%
Based on Deployment Mode, the market is segmented into On-Premise, and Cloud. Based on Industry, the market is segmented into Fintech, Banking, and Insurance. Based on Component, the market is segmented into Solution, and Service. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Deployment Mode
By Industry
By Component
By Country
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