Overview and Scope
Information security consulting refers to the practice of providing expert advice and guidance on information technology security services to organizations. This security consultation helps clients establish and maintain robust security measures that safeguard their sensitive data, systems, and networks.
Sizing and Forecast
The information security consulting market size has grown rapidly in recent years. It will grow from $23.78 billion in 2023 to $26.18 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increased cyber threat landscape, increased data breaches, shift to remote work, increased awareness of cybersecurity importance, industry-specific threats.
The information security consulting market size is expected to see strong growth in the next few years. It will grow to $36.66 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to emerging technologies, growing use of cloud computing, digital transformation initiatives, increased remote work, demand for managed security services. Major trends in the forecast period include focus on data privacy and compliance, growing need for information security consulting firms, increased focus on cloud security, AI and machine learning in security, IoT security concerns, supply chain security, risk-based security strategies.
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Segmentation & Regional Insights
The information security consulting market covered in this report is segmented –
1) By Type: Security And Compliance, Firewall Management, Email And Cloud Security, Other Types
2) By Deployment Mode: On Premise, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By End user Vertical: Banking, Financial Services, and Insurance, Information Technology And Telecom, Aerospace And Defense, Government, Healthcare, Other End-User Verticals
North America was the largest region in the information security consulting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information security consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in cybersecurity risks is expected to propel the growth of the information security consulting market going forward. Cybersecurity risks refer to potential threats and vulnerabilities that may compromise the confidentiality, integrity, and availability of digital assets, data, and information systems. It arises because of remote work trends, a lack of security awareness, and emerging technologies. Information security consulting is used to approach managing cybersecurity risks by identifying vulnerabilities, implementing preventive measures, preparing for incidents, and ensuring ongoing compliance and awareness. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, cyber crime reports received were 76,000 in 2022, up from 13% from the previous year. Therefore, increasing cyber threats are driving the growth of the information security consulting market.
Key Industry Players
Major companies operating in the information security consulting market are Microsoft Corporation, Verizon Communications Inc., Accenture plc, International Business Machines Corporation (IBM), Cisco Systems Inc., Ernst & Young Global Limited, KPMG International Cooperative, Deloitte Touche Tohmatsu Limited, Hewlett Packard Enterprise Company, Tata Consultancy Services Limited, BAE Systems plc, NTT DATA Corporation, Capgemini SA, Cognizant Technology Solutions Corporation, DXC Technology Company, Atos SE, Wipro Limited, Booz Allen Hamilton Holding Corporation, Palo Alto Networks Inc., Symantec Corporation, Check Point Software Technologies Ltd., CrowdStrike Holdings Inc., SecureWorks Corp., Trustwave Holdings Inc., CyberArk Software Ltd.
The information security consulting market report table of contents includes:
1. Executive Summary
2. Information Security Consulting Market Characteristics
3. Information Security Consulting Market Trends And Strategies
4. Information Security Consulting Market - Macro Economic Scenario
5. Global Information Security Consulting Market Size and Growth
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32. Global Information Security Consulting Market Competitive Benchmarking
33. Global Information Security Consulting Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Information Security Consulting Market
35. Information Security Consulting Market Future Outlook and Potential Analysis
36. Appendix
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