Security Advisory Services Market 2019 Global Leaders Overview: Coalfire Systems, CybeRisk, eSentire, Security Compass, Novacoast, Rapid7 LLC, Intertek Group PLC

Market Research Future published a research report on “Security Advisory Services Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Synopsis

Globally, the security advisory services market is expected to grow from USD 5.24 billion to USD 11.79 billion by 2023 at the CAGR of 17.6% from 2018 to 2023. The growth can be attributed to the growing complexity of the IT infrastructure of enterprises, an increasing number of cyber attacks, and the need to adhere to various government regulations. The adoption of cloud computing, social media, IoT, mobile computing, and hyper-connectivity have provided numerous digital business the opportunity to enhance the efficiency of their businesses; however, this has also made them more vulnerable byexposing them to a larger cyber-attack surface. For enterprises, the implementation of robust security solutions has become an important area to consider.

A security advisory service enables enterprises to build a security strategy as per the business model and needs. It also provides support in implementing a robust security infrastructure for the enterprise to protect its digital assets from advanced cyber-attacks. Major services that are offered as part of security advisory services includes security risk management, threat & vulnerability management, and guidance in implementing the security operations center (SOC). Although, the service is gaining traction among enterprises of all scale, lack of awareness about various cyber threats and limited spending on cybersecurity areexpected to hinder the growth of the Security Advisory Services Market.

Security advisory services have a wide adoption across the globe, particularly in the BFSI industry vertical. The industry vertical has always been the most lucrative target for cybercriminals who aim at gaining huge monetary benefits quickly. In recent years, the manufacturing industry has also experienced a high frequency of cyber attacks, due to which, it is expected to show the fastest adoption of security advisory services in the next five years.

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Segmentation.

The global security advisory services market has also been segmented based on service, organization size, and industry vertical.

By service, the market has been segmented into risk & compliance management, security program development, incident management, penetration testing, vulnerability management, and chief information security officer (CISO) advisory and support. By services, the CISO advisory and support services is expected to hold the largest share while the penetration testing services segment is expected to grow at the highest CAGR during the forecast period.

By organization size, the market has been segmented into large enterprises and small & medium-sized enterprises (SMEs). Large enterprises are expected to contribute the larger share while the SMEs segment is expected to grow at the higher CAGR from 2018 to 2023.

Based on industry vertical, the market has been segmented into banking, financial services, and insurance (BFSI), government & public sector, healthcare, IT & telecom, manufacturing, energy & utilities, and others. The BFSI segment is expected to be the largest contributor whereas the manufacturing segment is expected to grow at the highest CAGR during the forecast period.

Key players

The prominent players in security advisory services market are Deloitte Touche Tohmatsu Limited (US), Ernst & Young Global Limited (UK), KPMG International Cooperative (Netherlands), PricewaterhouseCoopers Private Limited (UK), Coalfire Systems, Inc. (US), CybeRisk (US), Cisco Systems, Inc. (US), Tata Consultancy Services Limited (India), eSentire, Inc. (Canada), Security Compass (Canada), Novacoast, Inc. (US), Kudelski Security (Switzerland), DXC Technology Company (US), Rapid7 LLC (US), and Intertek Group PLC (UK).

Regional Analysis

A geographical analysis of the global security advisory services market is conducted for North America, Europe, Asia-Pacific, and the rest of the world.

The North American market has been segmented into the US, Canada, and Mexico. The regional market is expected to be the largest contributor to the security advisory services market during the forecast period. The high adoption of the services in the region can be attributed to the presence of many key service providers, fast adoption of new technologies, and the occurrence of the highest number of cyber attacks. The US is the dominating country in terms of market share while Canada is expected to grow at the highest CAGR during the forecast period, 2018–2023.

In terms of market share, Europe is expected to be the second largest region. The region has further been segmented into the UK, Germany, France, and the rest of Europe. The presence of leading service providers, wide adoption of advanced technologies, and stringent government regulations drive the security advisory services market in the region. In terms of market size, the UK is the leading country while France is expected to witness the highest CAGR during the forecast period.

The market in Asia-Pacific is expected to be the fastest-growing during the forecast period, 2018-2023. The regional market has been segmented into China, Japan, India, and the rest of Asia-Pacific. The countries in the region, such as China, India, Japan, Singapore, and South Korea are expected to show a fast adoption of security advisory services in the upcoming years.

Growing economies in the Middle East & Africa and South America are expected to show significant growth in terms of technology adoption, resulting in the high demand for security advisory services. These regions are expected to offer numerous opportunities to the service providers as the services are yet to be adopted in most of its countries.

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Intended Audience

Security Advisory Service Providers
Cybersecurity Solution Providers
Cybersecurity Service Providers
Managed Service Providers
System Integrators
Managed Security Service Providers
Enterprises
Distributors and Value-added Resellers (VARs)
Security Standards Making Bodies and Associations
IT Consultants

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This release was published on openPR.