Security Advisory Services Market Research Report: By Service (Risk & Compliance Management, Security Program Development, Incident Management), Organization Size, and Industry Vertical (BFSI, Government, Healthcare) - Global Forecast till 2023
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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Market Highlights
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 key 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).
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Market SynopsisGlobally, 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.
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.
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.
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.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/7601Segmentation.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).
OverviewThe security advisory services market is anticipated to grow by US$11.79 billion by 2027 rapidly growing at a CAGR of 17.6%during the forecast period 2020 to 2027.
The global security advisory services market is driven by increasing number of cyberattacks and adoption of cloud computing.
These factors have helped shape the security advisory services market and are expected to boost the growth.
Companies in the security advisory services market could also face challenges such as stringent risk and compliance issues.
The global market for security advisory services is also covered based on organization size segment which is further split into small and medium sized enterprises, and large enterprises.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7601Factors like hyper-connectivity, emergence of IoT, and growing use of social media, support the security advisory services market growth.
The performance of the security advisory services market has also been studied for the past and current years.
OverviewThe security advisory services market size is anticipated to grow by US$11.79 billion by 2023 rapidly growing at a CAGR of 17.6% during the forecast period 2018 to 2023.
The global security advisory services market is driven by increasing number of cyberattacks and adoption of cloud computing.
These factors have helped shape the security advisory market and are expected to boost the growth.
Companies in the security advisory market could also face challenges such as stringent risk and compliance issues.
The global market for security advisory services is also covered based on organization size segment which is further split into small and medium sized enterprises, and large enterprises.Factors like hyper-connectivity, emergence of IoT, and growing use of social media, support the security advisory services market share.
The performance of the security advisory market has also been studied for the past and current years.
According to a research report "Security Advisory Services Market by Service Type (Penetration Testing, Vulnerability Management, Incident Response, Security Risk, Compliance Management, and CISCO Advisory and Support), Organization Size, Vertical, and Region - Global Forecast to 2024", published by MarketsandMarkets, the global security advisory services market size is expected to grow from USD 7.8 billion in 2019 to USD 18.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period.
Increasing in push from regulatory bodies to maintain security posture to safeguard the crucial data and increase in the frequency of cyber-attack and increased sophistication in attacking techniques are the major factors driving the growth of the security advisory services market.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=100127547The CISO advisory and support segment is estimated to dominate the security advisory services market with the larger market size during the forecast periodChief Information Security Officer-as-a-Service (CISOaaS) or vCISO is a service where enterprises can avail comprehensive leadership in terms of information security from the pool of highly qualified technical resources.
The CISOaaS helps in forming strategies, technology integrator, monitors the process that prevents the threat and advises the board members about the strategic roadmap of security.
CISOaaS engagement involves activities, such as scoping, assessment, gap analysis, implementation, evaluation, and continual maintenance.
With the emerging trend of connected devices, large enterprises not only have to protect the systems and endpoints that are interconnected to the enterprise network but also have to defend the applications running on these endpoints.The BFSI vertical is expected to grow at a rapid pace, during the forecast periodThe BFSI vertical is one of the significant users of cybersecurity solutions as banks have a directory of personal and financial data of individuals and organizations.
This vertical frequently introduces new and improved financial products and services to enhance business operations, making it attractive for fraudsters to target sensitive customer information.
