Global Security Advisory Services Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Penetration Testing, Vulnerability Management, Risk Management Strategy, Incident Response, Compliance Management, Security Program Development, Chief Information Security Officer Advisory And Support), By Enterprise Size (Small, Medium, Large), By End-User Industry (Communication And Technology, Government, Military And Defence, Manufacturing, Healthcare, BFSI, Others) And By Geography - Forecasts From 2020 To 2025

The global security advisory services size market is projected to grow at a CAGR of 21.33% to reach US$29.167 billion by 2025 from US$9.143 billion in 2019.

There is an increase in the adoption of information communication, and technology, data encryption, and cybersecurity solutions by different end-user industries. These industries include  BFSI, communication and technology, and automobile among others and they are doing this to achieve scalability, protect identities and transactions, reduce operational costs, decrease uptime and encrypt the sensitive data generated, and protection of the digital signatures in order to prevent data breaches is increasing the demand for effective encryption solutions. These factors are thereby leading to a surge in the demand for such solutions and bolstering the market growth over the forecast period.

Some of the examples of product launches and offerings are as follows:

• Novacoast, a company involved in the provision of various services under the segments including development, identity, access, security, and compliance also offers a variety of cybersecurity advisory services such as “Incident Response”, “DDOS Assessment”, and “Threat Hunting” among others. Their incident response solutions offer the clients persistent threat management, forensics, and containment solutions. The DDOS assessment is a solution that is being provided is for end-users such as hospitals, and public utility providers among others. These solutions aid the end-users to prevent the DDOS attack, which can result in the websites being shut down and different IT services disabled. In addition, Threat Hunting is a curated solution that facilitates the detection of threats by monitoring the data feeds, investigating suspicious behaviours, and activity analysis among other features.

• Kudelski Security, which is considered one of the leading companies globally and is involved in the provision of various solutions and services, also provides its end-users with advisory services. The advisory services portfolio includes, “Risk, Threat and Vulnerability Management, which is used to assess various cyber threats, for facilitating software assurance, advanced penetration testing, and for providing cloud security. “Incident Response and Cyber Resilience” is also offered under the portfolio and offers faster response times for various cyber threats, facilitates cyber threat hunting, and is able to provide top-quality incident response and on-demand threat retainers. In addition, they also provide other services under the segments “Cybersecurity Staffing” and “Strategy and Governance”.

• Tata Consultancy Services Limited, which is also among one of the leading companies globally dealing in the provision of a host of services to various end-users offers cybersecurity advisory, assessment, and architecture services. Some of the solutions include Identity and Access Management (offers IAM maturity assessment, IAM architecture, and product evaluation) Enterprise Vulnerability Management (offers vulnerability assessment, penetration testing, and ethical hacking), Digital Forensics and Fraud Management (offers a host of solutions including privacy impact assessment, supplier risk framework, and maturity assessment, etc.)

The communication and technology industry holds a considerable share over the forecast period owing to the fact that the user data is being generated in voluminous amounts, which is leading to an increasing and faster adoption of various ICT solutions. Moreover, the military and defence sector is estimated to increase its share over the forecast period owing to the fact that there are rising concerns regarding the security information and confidential information about various technology and assets of the country.

The communications and technology industry holds a considerable share over the forecast period. This is attributed to the increasing penetration of the internet and the rising availability of high-speed internet at affordable prices, thus leading to the generation of voluminous amounts of user data. Due to this, the user data is being put at risk, which is a direct consequence of increasing cybercrimes and cyber-attacks in recent years, which has led various service providers to adopt security advisory services. Moreover, the military and defence sector is estimated to increase its market share over the forecast period, as there is a lot of data such as defence technology, state secrets, and information that is at risk to spies and other ransomware agents. This not only has resulted in the deployment and adoption of other ICT solutions but security advisory solutions as well, and is contributing to the market share this segment holds

The North American region is estimated to hold a noteworthy market share growth over the forecast period owing to the rising instances of data theft, and the well-positioned Communication and Technology Industry. The Asia Pacific region is estimated to improve its market share over the forecast period due to rising adoption in the BFSI sector and the initiatives being taken by the government.

The North American region is estimated to hold a significant share over the forecast period owing to the fact that the incidences of cybercrimes and cyber-attacks are increasing and are leading to exploitation of the user data being generated due to the rising usage of the internet services. Moreover, the well-developed communication and telecommunication industry is also contributing to the market share of the region. In addition, the Asia Pacific region is estimated to hold a significant share over the forecast period owing to the fact that the government of countries such as India is taking extensive measures to adopt such solutions to minimize the number of phishing emails and financial frauds, which surging at a decent rate in the country.

Security Advisory Services Market Scope:

Segmentation:

• By Application
  • Penetration Testing
  • Vulnerability Management
  • Risk Management Strategy
  • Incident Response
  • Compliance Management
  • Security Program Development
  • Chief Information Security Officer Advisory and Support

•  By Enterprise Size
  • Small
  • Medium
  • Large

• By End-User Industry
  • Communication and Technology
  • Government
  • Military and Defence
  • Manufacturing
  • Healthcare
  • BFSI
  • Others

•  By Geography
  • North America
    • USA
    • Canada
    • Mexico
    • Others
  •  South America
    • Brazil
    • Argentina
    • Others
  •  Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  •  Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the global security advisory services market?
A2. Security Advisory Services Market was valued at US$9.143 billion in 2019.

Q2. What are the growth prospects for the security advisory services market?
A2. The global security advisory services market is projected to grow at a CAGR of 21.33% over the forecast period.

Q3. How is the global security advisory services market segmented?
A3. The security advisory services market has been segmented by application, enterprise size, end-user industry, and geography.

Q4. What will be the security advisory services market size by 2025?
A4. The security advisory services market is projected to reach a market size of US$29.167 billion by 2025.

Q5. Which region holds the largest market share in the security advisory services market?
A5. The North American region is estimated to hold a significant share over the forecast period owing to the fact that the incidences of cybercrimes and cyber-attacks are increasing and are leading to exploitation of the user data being generated due to the rising usage of internet services.