Online payment offers a fast and cheaper medium of carrying out online transaction and online transfer. The adoption of payment security software in financial services sector has gained traction. Banking sector is willing to explore opportunities which would make the banking transactions easier to process. Increased penetration of digital technology in the banking and other sectors has resulted in the development of easy to use online platforms and applications.
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This drives the need to carry out the online transactions in a secure manner. Payment security software offers a secure medium to carry out online transactions and can help eliminate the frauds due to errors and identity theft to a large extent. Hence, the payment security sector has made tremendous investments in exploring the technology along with the wide scale deployment of the security software and systems. This technology can benefit several by offering easy, safe and secure access and exchange of money over the Internet.
The demand for payment security software is expected to increase in the coming years owing to the investments in payment security software technologies, partnership between payment security software providers and financial organization, FinTech investments, and digitization across various industries globally. The payment security software market is compressive of a large number of private and public companies. The growth of payment security software startups was aided by huge venture capital investments during the period from 2013 to 2015. The market is expected to be hit by a huge wave of mergers and acquisitions in the coming years.
Global Payment Security Software Market: Segmentation
This research report provides an in-depth analysis of the global payment security software market based on solution, mode of payment, end-use, and geography. The global payment security software market is categorized based on solution into software and services. The software segment is further classified into firewalls, anti-virus/anti-malware, intrusion detection and prevention (IDS/IPS), data encryption, tokenization, multi-factor authentication, Security Information and Event Management, Data Loss Prevention, and Others.
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The payment security market has been segmented in mobile payment security software, Point-of-Sale (PoS) systems and security, and online payment security software on the basis of mode of payment. The end-use segment consists of BFSI, retail, healthcare, government, and others. The report analyzes each of these segments for the various geographies considered under the scope of the study.
Global Payment Security Software Market: Geographical Outlook
Based on geographical regions, the report segments the global payment security software market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America, which are analyzed in terms of revenue generation. The report provides country level revenue for payment security software. The U.S., Canada, Germany, Italy, France, the U.K., Japan, China India, Saudi Arabia, Africa, and Brazil are the countries covered in the report. North America is expected to lead the payment security software market during the forecast period. Asia Pacific region is expected to witness the second highest growth rate of payment security software during the forecast period. The Middle East and Africa and South America are in the early phases of adoption of the technology. The anticipated growth of banking sector in Africa is expected to support the market growth of payment security software during the forecast period.
The report also provides technology evolution and Porter’s Five Forces Analysis for the global payment security software market. The report includes analysis of the factors that drive and restrain the growth of the payment security software market. It discusses the prevailing market trends and prospective growth opportunities in the global payment security software market. It provides market estimates and forecasts for all the segments in terms of revenue. Also provided in the report is a competitive landscape and market share analysis of the major players in the payment security software market.
Global Payment Security Software Market: Competitive Analysis
Major business strategies adopted by key players, their SWOT analysis, and competition matrix has also been identified in the research report. The key market players profiled in this study include Symantec Corporation, Intel Corporation, Cisco Systems Inc., CA, Inc., Trend Micro, Gemalto, TNS Inc., HCL Technologies, VASCO Data Security International, Inc., and Thales e-Security.
The global payment security software market is segmented as below:
By Solution
- Software
- Firewalls
- Anti-virus/anti malware
- Intrusion detection and prevention (IDS/IPS)
- Data encryption
- Tokenization
- Multi-factor authentication
- Security Information and Event Management (SIEM)
- Data Loss Prevention (DLP)
- Others
- Services
- Mobile payment security software
- Point-of-Sale (PoS) systems and security
- Online payment security software
- Banking, Financial Services and Insurance
- Retail
- Healthcare
- Government
- Others
- North America
- The U.S.
- Canada
- Rest of North America
- Europe
- Germany
- Italy
- France
- The U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
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