Digital Security Control Market: Segmented: By Component (Hardware, Software and Services), By End user (Mobile Security and Telecommunication, Finance and Banking, Healthcare, Commercial and Other), And Region - Global Analysis of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
[ 170+ Pages Research Report ] Digital Security Control Market to surpass USD 49.6 billion by 2031 from USD 14.8 billion in 2021 at a CAGR of 12.9% in the coming years, i.e., 2021-31.
Digital security control is concerned with the protection & security of an individual's digital identity as well as various types of interaction that take place in the digital environment. Individual digital identity is protected by digital security, which is the network or Internet equivalents of an individual’s physical identity. Digital security refers to a set of techniques that are used to protect a subscriber's physical identity, assets, and technology in the online and mobile environment. The global growth of the internet security market is strongly dependent on the development of the Digital Security Control market. Sophisticated and advanced intruder detection and prevention, as well as elaborate encryption and continuous monitoring, are all features of today's digital security & control system.
Global Digital Security Control market is expected to project a notable CAGR of 12.9% in 2031.
The growing use of IoTs, embedded technologies, and associated digital age technologies like AI, Big Data, and Machine Learning is increasing the demand for business security and access management to ensure secure access to digital assets. The growing popularity of online transactions, as well as the move from magnetic strips to Europay, Mastercard, and Visa (EMV), has fueled the growth for real-time Digital Security Control platforms.
Hardware component segment to grow with the highest CAGR during 2021-31
Based on Components, Digital Security Control Market has been segmented into Hardware, Software, and Services. Hardware, Software, and Services are the three components that make up the Digital Security Control Market. Hardware Segment dominated the market in 2020 and is expected to continue to do in the forecast period. Smart Cards, Biometrics, Subscriber Identity Modules, Security Tokens, Graphic Annunciator Panels, Intrusion Alarm Systems, and others are all sub-categories of hardware. Due to increased demand for stronger security solutions in online transactions, smart cards are expected to account for the greatest market share. Because of the widespread and rapid adoption of biological traits to prevent counterfeiting, the Biometric Solution market is expected to grow.
Healthcare segment to grow with the highest CAGR during 2021-31
Global Digital Security Control market is classified on the basis of application into Mobile Security and Telecommunication, Finance and Banking, Healthcare, Commercial and Other. The Healthcare segment is predicted to grow rapidly over the forecast period, owing to increased cybercrime activity in recent years. The construction of fraudulent websites and phishing efforts to steal personal information are also expected to drive market expansion. Furthermore, the growing use of cloud apps, linked devices, digital solutions, and the usage of open-source information for awareness by health care providers, payers, & patients underscores a need for security solutions as well as minimizing the possibility of vulnerability.
Biometric systems are becoming more widely used to prevent forgery
Increasing adoption of biometric security using biological characteristics such as face recognition and fingerprint authentication to validate and verify users' identities to prevent cyber-crime such as identity theft and data breaches is expected to drive the market. The expansion of the market has been aided by rising demand for biometric authentication pattern recognition in the online baking and e-commerce sectors. The market for DSC is expected to grow significantly between the forecast period, thanks to advances in biometric authentication like the creation of gait recognition, cursor biometrics, and keystroke dynamics.
Increasing demand for speedy and secure digital transactions
The market is expected to be driven by the increasing convergence of the BFSI industry with digitalization to deliver dependable, secure, and seamless services to improve customer experience. To avoid security breaches & cyber-attacks, the banking sector stores a vast volume of secret and sensitive financial data that must be protected. Digital Security Control platform combines Cognitive Biometrics with ML & Risk Assessment to provide connected consumers with a secure and convenient digital banking experience. The market's expansion has been aided by increased demand for correlative authentication. The market has grown dramatically in response to growing security concerns among banks and consumers about data leakage or fraudulent data insertion.
Expensive and difficult-to-use tools
The strong reliance on data-driven technology, as well as the growing demand for very expensive and complex instruments, are expected to limit the Digital Security Control industry's full potential. Constraining factors in the increase of demands for new security control include growing security budget limits.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Digital Security Control market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The industry is dominated mostly in the North American region. The market in North America is being driven by rising demands for new digital security solutions in the telecommunication and Internet security industries. This region is likely to maintain its predominance in the market in the forecast period, owing to increased demand in the industrial, manufacturing, transportation, and mobile security sectors.
The Impact of Covid-19 in the digital Security market as Healthcare providers is using chat, phones, email, & telemedicine portal for remote counseling and diagnosis as Covid-19 tests the robustness of healthcare systems, around the world. Organizations are utilizing digital infrastructure to acquire critical protective materials for healthcare and hygiene professionals, as well as to guide how to provide services properly. Finally, digital channels provide stress-relieving leisure for families. They're also helping to secure our future by allowing students to learn virtually while schools are closed.
Global Digital Security Control is further segmented by region into:
Digital Security Control Segments:
|Market size value in 2021||USD 14.8 billion|
|Revenue forecast in 2031||USD 49.6 billion|
|Growth Rate||CAGR of 12.9% from 2021 to 2031|
|Base year for estimatio||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, Application and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
Key companies profiled
|Fireeye, Inc., Oberthur Technologies, Safenet, Inc., RSA Security LLC, Vasco Data Security International, Inc., 3M, NEC Corporation, Morpho S.A.S, HID Global (Actividentity, Inc.) and Other Prominent Player|
Digital Security Control Market size was estimated at USD 14.8 billion in 2021 and is expected to reach USD 49.6 billion 2031.
Key players are Fireeye, Inc., Oberthur Technologies, Safenet, Inc., RSA Security LLC, Vasco Data Security International, Inc., 3M, NEC Corporation, Morpho S.A.S, HID Global (Actividentity, Inc.) and Other Prominent Players
Hardware component segment is anticipated to hold Digital Security Control Market
Drivers: Biometric systems are becoming more widely used to prevent forgery and Increasing demand for speedy and secure digital transactions
Digital security control is concerned with the protection & security of an individual's digital identity as well as various types of interaction that take place in the digital environment. Individual digital identity is protected by digital security, which is the network or Internet equivalents of individual ’s physical identity. Digital security refers to a set of techniques that are used to protect a subscriber's physical identity, assets, and technology in the online and mobile environment.
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