Cyber Security Consulting Services Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Enterprise Size (Small, Medium, Large), By Industry Vertical (BFSI, Aerospace And Defense, Retail, IT And Telecom, Healthcare, Energy And Utilities, Others), And By Geography - Forecasts From 2020 To 2025

Published:  Jun 2021 Report Code: KSI061613752 Pages: 120

The cyber security consulting services market was valued at US$2.658 billion in 2019. The consulting companies play the role of both defenders and attackers in the systems as well as software programs. The major factor bolstering the market growth throughout the forecast period includes the growth in cyberattacks and data breaches across various organizations that further leads to a loss of millions of dollar to the companies. This, in turn, further propels the requirements for the implementation of the right strategies regarding security management along with data assessments coupled with the setting up of necessary infrastructure and applications. Thus, these consulting services companies play a vital role in guiding the companies to define and implement the right strategy depending on the current situation of the business.

Furthermore, the rising digitization coupled with the rapid integration of technology across all the sectors has led to the rapid adoption of the Internet of Things (IoT) which has also amplified the number of connected devices within the organization as well as outside the organization. This, in turn, has propelled the risk of cyberattacks, thus considered to be a major factor supplementing the cyber security consulting services market growth in the next five years.

There is a high volume of companies working in the cyber security consulting services market, however, some have solidified their position as the leading providers in this industry. These players are involved in a plethora of investments, service expansions, R&D, partnerships, and acquisitions as a part of their growth strategies to further strengthen their position and provide better products to their customers worldwide, which is further expected to propel the growth of the market in the coming years. Also, growth in the funding received by various start-ups for the enhancements of services offered by them also shows the potential for the market to grow in the near future. For instance, recently in June 2020, Haven Cyber-Technologies Group, a UK-based company operating in the cyber security market announced that it received funding worth €5.7m from C5 Capital, the company aims to use these funds for enhancing its solutions, products, and consulting competencies. Also, in May 2020, HCL Technologies announced the expansion of its partnership that it signed with Broadcom Inc in the year 2018, HCL aimed to broaden its service offerings and include Symantec Enterprise Division (SED) consulting services, which was part of Broadcom’s enterprise security solutions. Furthermore, in June 2020, CI Security announced the growth and enhancements in its Critical Insight™ Channel Partner Program to cater to the growing expectations of the consumers due to the increased risk of cyber threats.

Growth in the number of cyberattacks is expected to drive the market growth

The key factor supplementing the cyber security consulting services market growth includes the growth in the number of cyberattacks, even in the developed economies of the world despite having world-class infrastructure. For instance, as per the data provided by AtlasVPN, the incidents related to cybersecurity in NASA recorded a growth of 366% from 2018 to 2019, reaching 1,469 by 2019 from just 315 in 2018. Also, in September 2018, in a cyberattack on the leading hotel chain, Starwood Hotels owned by the Marriot group, around personal information of more than 500 million people was compromised in which more than 327 million entries were related to the banking information of the hotel’s customers. Similarly, in February 2018, around US$6 million was stolen from the Russian Central Bank by some unknown hackers in a cyberattack.

The cyber security consulting services market has been segmented on the basis of enterprise size, industry vertical, and geography. By enterprise size, the segmentation of the market has been done into small, medium, and large. On the basis of industry vertical, the market has been classified into BFSI, aerospace and defense, retail, IT and Telecom, healthcare, energy and utilities, and others. Geographically, the segmentation has been done into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

SMEs to show a robust growth

By enterprise size, both small and medium segments are anticipated to witness healthy growth during the next five years. The major factor supplementing the growth of this segment includes the significant growth in the number of SMEs at the global level. This, coupled with the rapid adoption of cloud computing solutions is also considered to be a major factor that is expected to bolster the market growth over the next five years.

North America to hold a decent share

Geographically, the North American region is projected to hold a considerable market share throughout the forecast period primarily on account of the early technology adoption coupled with the availability of a well-established infrastructure. Moreover, the presence of key market players in the region is also a key factor supplementing the cyber security consulting services market growth in the North American region during the next five years.

Competitive Insights

Prominent key market players in the Cyber Security Consulting Services market include Capgemini, Cisco, IBM Corporation, and Optive Security among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings.

Major players in the Cyber Security Consulting Services market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.

Cyber Security Consulting Services Market Scope:

Report Metric Details
 Market size value in 2019  US$2.658 billion
 Growth Rate  CAGR of during the forecast period
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Billion
 Segments covered  Enterprise Size, Industry Vertical, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Capgemini, McAfee, LLC, Accenture, Deloitte, IBM Corporation, Cylance Inc.,   SecureWorks, Inc., FireEye, Inc., Optiv Security Inc., BAE Systems
 Customization scope  Free report customization with purchase

Segmentation

  • By Enterprise Size
    • Small
    • Medium
    • Large
  • By Industry Vertical
    • BFSI
    • Aerospace and Defense
    • Retail
    • IT and Telecom
    • Healthcare
    • Energy and Utilities
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • The Netherlands
      • Italy
      • Ireland
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the cyber security consulting services market?
A1. The cyber security consulting services market was valued at US$2.658 billion in 2019. 


Q2. Who are the major players in the cyber security consulting services market?
A2. Prominent key market players in the Cyber Security Consulting Services market include Capgemini, Cisco, IBM Corporation, and Optive Security among others.  


Q3. How is the global cyber security consulting services market segmented?
A3. The cyber security consulting services market has been segmented on the basis of enterprise size, industry vertical, and geography. 


Q4. What factors are anticipated to drive the cyber security consulting services market growth?
A4. The key factor supplementing the cyber security consulting services market growth includes the growth in the number of cyberattacks, even in the developed economies of the world despite having world-class infrastructure.  


Q5. Which region holds the largest market share in the cyber security consulting services market?
A5. Geographically, the North American region is projected to hold a considerable market share throughout the forecast period primarily on account of the early technology adoption coupled with the availability of a well-established infrastructure. 

1. Introduction
1.1. Market Definition
1.2. Market Segmentation
 
2. Research Methodology
2.1. Research Data
2.2. Assumptions
 
3. Executive Summary
3.1. Research Highlights
 
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
 
5. Cyber Security Consulting Services Market Analysis, By Enterprise Size 
5.1. Introduction
5.2. Small
5.3. Medium
5.4. Large
 
6. Cyber Security Consulting Services Market Analysis, By Industry Vertical
6.1. Introduction
6.2. BFSI
6.3. Aerospace and Defense
6.4. Retail
6.5. IT and Telecom
6.6. Healthcare
6.7. Energy and Utilities
6.8. Others
 
7. Cyber Security Consulting Services Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.2.1. North America Cyber Security Consulting Services Market, By Enterprise Size , 2019 to 2025
7.2.2. North America Cyber Security Consulting Services Market, By Industry Vertical, 2019 to 2025
7.2.3. North America Cyber Security Consulting Services Market, By Industry Vertical, 2019 to 2025
7.2.4. By Country
7.2.4.1. USA
7.2.4.2. Canada
7.2.4.3. Mexico
7.3. South America
7.3.1. South America Cyber Security Consulting Services Market, By Enterprise Size , 2019 to 2025
7.3.2. South America Cyber Security Consulting Services Market, By Industry Vertical, 2019 to 2025
7.3.3. By Country
7.3.3.1. Brazil
7.3.3.2. Argentina
7.3.3.3. Others
7.4. Europe
7.4.1. Europe Cyber Security Consulting Services Market, By Enterprise Size , 2019 to 2025
7.4.2. Europe Cyber Security Consulting Services Market, By Industry Vertical, 2019 to 2025
7.4.3. By Country
7.4.3.1. Germany
7.4.3.2. France
7.4.3.3. United Kingdom
7.4.3.4. Spain
7.4.3.5. Others
7.5. Middle East and Africa
7.5.1. Middle East and Africa Cyber Security Consulting Services Market, By Enterprise Size , 2019 to 2025
7.5.2. Middle East and Africa Cyber Security Consulting Services Market, By Industry Vertical, 2019 to 2025
7.5.3. By Country
7.5.3.1. Saudi Arabia
7.5.3.2. Israel
7.5.3.3. Others
7.6. Asia Pacific
7.6.1. Asia Pacific Cyber Security Consulting Services Market, By Enterprise Size , 2019 to 2025
7.6.2. Asia Pacific Cyber Security Consulting Services Market, By Industry Vertical, 2019 to 2025
7.6.3. By Country
7.6.3.1. China
7.6.3.2. Japan
7.6.3.3. South Korea
7.6.3.4. India
7.6.3.5. Others
 
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
 
9. Company Profiles
9.1. Capgemini
9.2. McAfee, LLC
9.3. Accenture
9.4. Deloitte
9.5. IBM Corporation
9.6. Cylance Inc.
9.7. SecureWorks, Inc.
9.8. FireEye, Inc.
9.9. Optiv Security Inc.
9.10. BAE Systems

Capgemini

McAfee, LLC

Accenture

Deloitte

IBM Corporation

Cylance Inc.

SecureWorks, Inc.

FireEye, Inc.

Optiv Security Inc.

BAE Systems

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