Press release
Cybersecurity Consulting Market Growth Prospects, Competitive Analysis, Trend, Regulatory Landscape & Forecasts 2032
Cybersecurity Consulting Market
Industry Overview
This market has always shown above-average growth rates because to the constant influx of new cyber threats, and 2019's 11% growth was no exception. Additionally, this was a market that experienced tremendous growth at the height of the pandemic in 2020; according to our estimates, the growth rate doubled to 24%. The causes behind this are clear. A significant acceleration in the adoption of new cybersecurity software, processes, and protocols was caused by the widespread shift of business to remote work, the explosion of online shopping and home delivery, the requirement for some organizations to share data with partner organizations, and the need for others to significantly increase the level of protection they applied to personal data.
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Market Dynamics
The increased compliance requirements that are imposed on businesses by governments are another factor that contributes to the expansion of the cyber risk market. Companies in Europe were first provided with a data and privacy protection framework by the General Data Protection Regulation (GDPR). California's Consumer Privacy Act (CCPA) and Brazil's Lei General de Protecao de Dados (LGPD) became law in 2018 and 2020, respectively, and other nations soon followed suit. In the past, businesses have shown little concern for customers' privacy or the security of their data. Since people are more aware of their privacy, this situation has changed a lot. Organizations are becoming increasingly aware of the significance of cyber risk management as a result of privacy laws, compliance regulations, and widespread coverage and scrutiny following serious privacy scandals. Compliance with these regulatory frameworks contributes to an increase in demand for cyber risk consultants, particularly when organizations are subjected to increased pressure from individuals, the media, and regulatory authorities. The market for cybersecurity consultants will only expand significantly as more nations pass consumer privacy laws.
COVID Impact
As the COVID-19 pandemic has induced new financial pressures on organizations, the natural response of many firms was to cut the cybersecurity budget - a general trend in 2020. On the other hand, cyber threats have increased in frequency and sophistication during the pandemic. Malicious actors are capitalizing on the prevailing uncertainty and fear surrounding the outbreak to their advantage. When tainted by a devastating pandemic, the cybersecurity consulting market forecast is far from being a straightforward undertaking.
Cybersecurity professionals observed a 63 percent increase in cyber-attacks related to the COVID-19 pandemic, according to a survey released by the Information Systems Security Association (ISSA) and independent industry analyst firm Enterprise Strategy Group. The COVID-19 pandemic has provided a once-in-a-lifetime opportunity for hackers and online s. (ESG). ESG and ISSA performed an extensive poll in April 2020 as a point in time evaluation of the issues faced by the pandemic as the global impact of COVID-19 began to manifest itself in the middle of March.
Regional Trend
The 2020 growth rates are essentially consistent across regions. The percentage increased from 21% in Europe and the Middle East, where earlier investment in this area meant that clients were reasonably well-protected, to 26% in the relatively small and developing African market, where the shift to virtual working and living started from a weaker basis. On the other hand, the developed and well-prepared North American market, which reflects the size of the financial services sector in this region, also had high growth of 26%. Although the African market may be lagging behind, the goal it is pursuing is also moving.
Competitive Landscape
The report includes competitive landscape based on the extensive assessment of the product portfolio offering, geographic presence, and key strategic developments adopted by the leading market players in the industry over the past 5 years. The key players profiled in the Ready-To-Eat Popcorn Market research report are Deloitte, Booz Allen, Leidos Cyber, BAE Systems, Clearwater Compliance, Raytheon, Sera-Brynn, Lockheed Martin, RSA, PwC, SecureWorks, Proofpoint
By Product
· Cyber Strategy and Assessment
· Wargaming and Testing
· Others
By types
· Cyber Security Services
· Cyber Security Consulting
By Application
· Large Enterprises
· SMEs
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Key Points:
Define, describe and forecast Cybersecurity Consulting product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
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About US:
Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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