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.
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The CISO advisory and support segment is estimated to dominate the security advisory services market with the larger market size during the forecast period
Chief 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. It is one of the most cost-effective ways to maintain the information security system and manage risk at the same time. CISOaaS engagement involves activities, such as scoping, assessment, gap analysis, implementation, evaluation, and continual maintenance. Furthermore, CISOaaS caters to preventative maintenance tasks which help in keeping the enterprises’ security posture under constant check.
The large enterprise segment is expected to hold a larger market size, during the forecast period
Enterprises with an employee strength more than 1000 are considered as large enterprises. These large enterprises are early adopters of security measures, as they deploy many applications and hold massive amounts of customers’ confidential data. Moreover, large enterprises have increased budgets for security measures as compared to SMEs. As these enterprises are large and have different types of IT infrastructures, they face the difficult task of effectively managing the security for several applications across the enterprise. 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 period
The 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. Therefore, the systems and software applications in the banking and financial organizations need to be monitored continuously and require advisory to withstand the ever-changing threat landscape. Furthermore, the vertical is continuously adding new offerings, such as internet banking, mobile banking, wallet transactions, and Unified Payment Interface (UPI) to ease end user experience, further increasing the overall attack surface. The vertical faces various challenges related to stringent regulatory and security requirements and providing superior service to its customers.
North America to hold the largest market share during the forecast period
North America is one of the most affected regions in the world by cybersecurity breaches, and as a result, has the most significant number of security advisory services providers. As the world is moving toward interconnections and digitalization, protecting enterprise-critical infrastructures and sensitive data has become one of the significant challenges. Moreover, the growing adoption of cloud-based applications, technologies, and platforms has further increased the need for enhanced security solutions for these platforms. The customers’ personal information, companies’ personal information, and payment-related information are entirely being stored on these cloud-based applications and platforms, which is why these platforms and applications are acting as a lucrative source for fraudsters to steal confidential information. Moreover, North America is the early adopter of cybersecurity solutions and services across the globe. Furthermore, this region is the most advanced in terms of adopting security solutions, services, and infrastructure. Information security is identified as the most serious economic and national security challenge by the North American government.
The major microlearning vendors include Cisco (US), DXC Technologies (US), KPMG (UK), Deloitte (US), PwC (UK), TCS (India), EY (UK), Verizon (US), eSentire (Canada), Rapid7 (US), Dimension Data (South Africa), Kudelski Security (Switzerland), NTT Security (Japan), Sumeru (India), ePlus (US), Coalfire (US), Novacoast (US), Security Compass (Canada), Sage Data Security (US) and Avalon Cyber (US).
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Market ScopeThe global market for security advisory services attained a valuation of USD 5.24 billion in 2018 and is currently on track to reach a valuation of USD 11.79 billion by 2023, estimates Market Research Future (MRFR).
MRFR notes the possibilities of the market, achieving a robust growth rate of 17.6% from 2018 to 2023, which is the forecast period.Top Drivers and Key ChallengesSurge in cybersecurity risks has been identified as one of the chief reasons behind the strong market growth for security advisory services.
With increasing awareness, a number of enterprises are increasingly deploying services that can help them avoid vulnerabilities.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7601Various aspects of an enterprise can be optimized with the use of security advisory services.
Security advisory services help understand the main weaknesses in an organization, given the rising adoption rates of cloud computing solutions and the subsequent rise in cyber-attacks.High adoption of cloud services combined with the increase use of web and mobile based applications across business processes, mounting attacks on network infrastructures and the rising need to comply with regulatory standards could also benefit the Security Advisory Services Market in the following years.Regional AnalysisA 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 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 region has further been segmented into the UK, Germany, France, and the rest of Europe.
OverviewThe security advisory services market 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 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.Factors 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.
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 2023Regional AnalysisA 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 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 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.
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.
The latest research report on the Security Advisory Services Market has been formulated to offer a comprehensive assessment of the economic growth as well as the profitability of the Security Advisory Services Market in light of company performance for the forecast years from 2019 to 2026.Security Advisory Services Market study provides a meticulous assessment of the industry for the estimation period of 2019–2026.
Security Advisory Services Market report by Reports and Data evaluates the market size, growth rate, market share, application, and prospective trends.
The market research on Digitally Printed Wallpaper is concise, yet it encompasses all critical aspects, which are pivotal and relevant for a customer of the Digitally Printed Wallpaper industry.The research study, titled Security Advisory Services Market Research Report 2019,” assesses the historical performance and the current standing of the market for an exhaustive understanding, underlining the dynamics of the demand and supply of Security Advisory Services Market in 2018.The Security Advisory Services Market report profiles the key players of the sector to give a clear perspective of the competitive landscape of the Security Advisory Services Market Outlook.
It also offers market new product analysis, financial overview, executive strategies, and marketing trends.The following manufacturers are examined in this report by focusing on the sales, revenue, and market share for each company:- Cisco systems, DXC Technology Company, Ernst & Young, Column Information Security, Delloite, PwC, DeltaRisk, KPMG, Security Compass, TCS, CybeRisk, Novacoast, and Kudelski Security.The report consists of an in-depth analysis of substantial returns that are estimated to be accumulated at the end of the forecast period.
The report also inspects materials and markets, technological advancements, volatile industry structure, and capacities of the Security Advisory Services MarketOrganization Size Outlook (Revenue, USD Billion ; 2019-2026)Large enterprisesSmall and Medium-sized Enterprises (SMEs)Service Type Outlook (Revenue, USD Billion ; 2019-2026)CISO advisory and support servicesPenetration TestingVulnerability ManagementRisk Management StrategyIncident ResponseOthersApplication Outlook (Revenue, USD Billion ; 2019-2026)BFSIManufacturingIT and TelecommunicationEnergy and PowerOthersAccess Full Report Description, TOC, Figure, Chart, etc.
@ https://www.reportsanddata.com/report-detail/security-advisory-services-marketRegional Outlook (Revenue, USD Billion ; 2019-2026)North AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaThe analyzed data on the Security Advisory Services Market helps the reader establish a position within the industry while rivalling the giants.
