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Security Advisory Services Market Size, Share & Trends Analysis Report By Vertical, By Enterprise Size (Large Enterprises, and Small & Medium Enterprises), By Service Type, By Regional Outlook and Forecast, 2023 - 2030

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    Report

  • 289 Pages
  • February 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5945726
Description Jump to:
The Global Security Advisory Services Market size is expected to reach $48.3 billion by 2030, rising at a market growth of 19.3% CAGR during the forecast period.

The IT & telecom segment often includes critical infrastructure that supports various industries and services. Thus, the IT & telecom segment acquired $2367.1 million revenue in 2022. Security advisory services offer specialized expertise to protect critical IT & telecommunications infrastructure, ensuring the reliability and continuity of essential services.



The major strategies followed by the market participants are Partnerships & Collaborations as the key developmental strategy to keep pace with the changing demands of end users. For instance, In February 2024, Deloitte Touche Tohmatsu Limited came into partnership with ParaFlare to providing advanced active cyber defense capabilities, safeguarding Australian businesses and organizations against escalating cyber threats. Additionally, In November 2023, DXC Technology Company came into partnership with ServiceNow to catalyze innovation for shared clientele by integrating ServiceNow's advanced analytics and improved AI functionalities from its ITSM Pro and process mining solutions into DXC Platform X.

Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the Cardinal Matrix; Cisco Systems Inc. is the forerunner in the Security Advisory Services Market. In January 2024 Cisco Systems Inc. came into collaboration with Kyndryl, an IT services company specializing in managing and modernizing enterprise IT infrastructure. Under this collaboration, both companies developed two novel security edge services, to assist clients in enhancing their security measures and taking proactive steps to address and manage cyber incidents. Companies such as Tata Consultancy Services Ltd., Rapid7, Inc., and KPMG International Limited are some of the key innovators in Security Advisory Services Market.



Market Growth Factors

Transportation systems, including air traffic control, railways, and maritime operations, are integral components of critical infrastructure. It focus on securing communication networks, navigation systems, and operational technologies to prevent disruptions and ensure the safe functioning of transportation systems. Hence, growing protection of critical infrastructure has been a pivotal factor in driving the growth of the market.

The ITA estimates that the Australian cybersecurity industry will reach US$5.8 billion by 2024, from a value of US$5 billion in 2022. Cyber threats manifest through various vectors, including ransomware, phishing attacks, malware, and supply chain vulnerabilities. Therefore, the market is expanding significantly due to the escalating cybersecurity threat landscape.

Market Restraining Factors

The perceived high costs associated with engaging security advisory services can act as a deterrent for some organizations. This perception may be based on the initial investment required for comprehensive advisory solutions, ongoing service fees, and the belief that cybersecurity is expensive. SMEs may be more sensitive to cost concerns. Thus, high-cost concerns can slow down the growth of the market.

By Vertical Analysis

On the basis of vertical, the market is divided into IT & Telecom, BFSI, healthcare, government & public sector, manufacturing, energy & utility, and others. In 2022, the BFSI segment dominated the market with 28% revenue share. It offers guidance on securing digital channels, implementing multi-factor authentication, and ensuring the secure transfer of sensitive financial information.

By Enterprise Size Analysis

Based on enterprise size, the market is classified into small & medium enterprises and large enterprises. The small & medium enterprises segment acquired 27% revenue share in the market in 2022. It offers guidance on securing cloud infrastructure, applications, and data, enabling SMEs to leverage the benefits of cloud computing while maintaining a secure digital environment.

By Service Type Analysis

By service type, the market is categorized into vulnerability management, incident response, security risk management, compliance management, CISO advisory & support and penetration testing. The vulnerability management segment acquired 25% revenue share in the market in 2022. Vulnerability management within security advisory services enables organizations to proactively identify weaknesses in their IT systems, networks, and applications.



By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating 38% revenue share. Advisory services focus on implementing measures to safeguard data privacy and confidentiality, helping organizations in North America build trust with their customers and stakeholders.

Recent Strategies Deployed in the Market

  • Feb-2024: Deloitte Touche Tohmatsu Limited came into partnership with ParaFlare, an advanced analytics platform designed to enhance decision-making and operational efficiency within the financial services industry. Under this partnership, Deloitte strengthens its dedication to providing advanced active cyber defense capabilities, safeguarding Australian businesses and organizations against escalating cyber threats.
  • Jan-2024: Cisco Systems Inc. came into collaboration with Kyndryl, an IT services company specializing in managing and modernizing enterprise IT infrastructure. Under this collaboration, both companies developed two novel security edge services, to assist clients in enhancing their security measures and taking proactive steps to address and manage cyber incidents.
  • Nov-2023: DXC Technology Company came into partnership with ServiceNow, a cloud computing company that offers a platform for enterprise IT service management. Through this partnership, both companies would be able to catalyze innovation for shared clientele by integrating ServiceNow's advanced analytics and improved AI functionalities from its ITSM Pro and process mining solutions into DXC Platform X.
  • Nov-2023: DXC Technology Company signed a partnership with AWS, a cloud computing platform offering a wide range of services including computing power, storage, and databases, used by businesses for scalability, flexibility, and cost-effectiveness. Through this partnership, DXC would be able to encourage their clients to hasten core enterprise system migration to the cloud, leveraging AWS's top generative AI, analytics, computing, database, machine learning, and storage tech for modernizing and scaling critical workloads.
  • Nov-2023: TATA Consultancy Services Ltd. Introduced The Cyber Insights Platform, a comprehensive cybersecurity solution designed to provide organizations with real-time threat intelligence and analytics for proactive threat detection and response. The Cyber Insights Platform utilizes TCS' proficiency in managed detection and response to assist clients in consolidating varied security data sets located across public and private clouds, on-premises environments, and third-party security providers into a central repository, driven by Amazon Security Lake.

List of Key Companies Profiled

  • Cisco Systems Inc.
  • DXC Technology Company
  • Deloitte Touche Tohmatsu Limited
  • The Sage Group plc
  • TATA Consultancy Services Ltd.
  • Rapid7, Inc.
  • Novacoast, Inc.
  • Kudelski Group (Kudelski Security)
  • eSentire Inc.
  • KPMG International Limited

Market Report Segmentation

By Vertical
  • BFSI
  • Government & Public Sector
  • Manufacturing
  • Healthcare
  • Energy & Utilities
  • IT & Telecom
  • Others
By Enterprise Size
  • Large Enterprises
  • Small & Medium Enterprises
By Service Type
  • CISO Advisory & Support
  • Vulnerability Management
  • Incident Response
  • Security Risk Management
  • Compliance Management
  • Penetration Testing
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Security Advisory Services Market, by Vertical
1.4.2 Global Security Advisory Services Market, by Enterprise Size
1.4.3 Global Security Advisory Services Market, by Service Type
1.4.4 Global Security Advisory Services Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Sceario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2023, Aug - 2024, Jan) Leading Players
4.4 Porter’s Five Forces Analysis
Chapter 5. Global Security Advisory Services Market by Vertical
5.1 Global BFSI Market by Region
5.2 Global Government & Public Sector Market by Region
5.3 Global Manufacturing Market by Region
5.4 Global Healthcare Market by Region
5.5 Global Energy & Utilities Market by Region
5.6 Global IT & Telecom Market by Region
5.7 Global Others Market by Region
Chapter 6. Global Security Advisory Services Market by Enterprise Size
6.1 Global Large Enterprises Market by Region
6.2 Global Small & Medium Enterprises Market by Region
Chapter 7. Global Security Advisory Services Market by Service Type
7.1 Global CISO Advisory & Support Market by Region
7.2 Global Vulnerability Management Market by Region
7.3 Global Incident Response Market by Region
7.4 Global Security Risk Management Market by Region
7.5 Global Compliance Management Market by Region
7.6 Global Penetration Testing Market by Region
Chapter 8. Global Security Advisory Services Market by Region
8.1 North America Security Advisory Services Market
8.1.1 North America Security Advisory Services Market by Vertical
8.1.1.1 North America BFSI Market by Country
8.1.1.2 North America Government & Public Sector Market by Country
8.1.1.3 North America Manufacturing Market by Country
8.1.1.4 North America Healthcare Market by Country
8.1.1.5 North America Energy & Utilities Market by Country
8.1.1.6 North America IT & Telecom Market by Country
8.1.1.7 North America Others Market by Country
8.1.2 North America Security Advisory Services Market by Enterprise Size
8.1.2.1 North America Large Enterprises Market by Country
8.1.2.2 North America Small & Medium Enterprises Market by Country
8.1.3 North America Security Advisory Services Market by Service Type
8.1.3.1 North America CISO Advisory & Support Market by Country
8.1.3.2 North America Vulnerability Management Market by Country
8.1.3.3 North America Incident Response Market by Country
8.1.3.4 North America Security Risk Management Market by Country
8.1.3.5 North America Compliance Management Market by Country
8.1.3.6 North America Penetration Testing Market by Country
8.1.4 North America Security Advisory Services Market by Country
8.1.4.1 US Security Advisory Services Market
8.1.4.1.1 US Security Advisory Services Market by Vertical
8.1.4.1.2 US Security Advisory Services Market by Enterprise Size
8.1.4.1.3 US Security Advisory Services Market by Service Type
8.1.4.2 Canada Security Advisory Services Market
8.1.4.2.1 Canada Security Advisory Services Market by Vertical
8.1.4.2.2 Canada Security Advisory Services Market by Enterprise Size
8.1.4.2.3 Canada Security Advisory Services Market by Service Type
8.1.4.3 Mexico Security Advisory Services Market
8.1.4.3.1 Mexico Security Advisory Services Market by Vertical
8.1.4.3.2 Mexico Security Advisory Services Market by Enterprise Size
8.1.4.3.3 Mexico Security Advisory Services Market by Service Type
8.1.4.4 Rest of North America Security Advisory Services Market
8.1.4.4.1 Rest of North America Security Advisory Services Market by Vertical
8.1.4.4.2 Rest of North America Security Advisory Services Market by Enterprise Size
8.1.4.4.3 Rest of North America Security Advisory Services Market by Service Type
8.2 Europe Security Advisory Services Market
8.2.1 Europe Security Advisory Services Market by Vertical
8.2.1.1 Europe BFSI Market by Country
8.2.1.2 Europe Government & Public Sector Market by Country
8.2.1.3 Europe Manufacturing Market by Country
8.2.1.4 Europe Healthcare Market by Country
8.2.1.5 Europe Energy & Utilities Market by Country
8.2.1.6 Europe IT & Telecom Market by Country
8.2.1.7 Europe Others Market by Country
8.2.2 Europe Security Advisory Services Market by Enterprise Size
8.2.2.1 Europe Large Enterprises Market by Country
8.2.2.2 Europe Small & Medium Enterprises Market by Country
8.2.3 Europe Security Advisory Services Market by Service Type
8.2.3.1 Europe CISO Advisory & Support Market by Country
8.2.3.2 Europe Vulnerability Management Market by Country
8.2.3.3 Europe Incident Response Market by Country
8.2.3.4 Europe Security Risk Management Market by Country
8.2.3.5 Europe Compliance Management Market by Country
8.2.3.6 Europe Penetration Testing Market by Country
8.2.4 Europe Security Advisory Services Market by Country
8.2.4.1 Germany Security Advisory Services Market
8.2.4.1.1 Germany Security Advisory Services Market by Vertical
8.2.4.1.2 Germany Security Advisory Services Market by Enterprise Size
8.2.4.1.3 Germany Security Advisory Services Market by Service Type
8.2.4.2 UK Security Advisory Services Market
8.2.4.2.1 UK Security Advisory Services Market by Vertical
8.2.4.2.2 UK Security Advisory Services Market by Enterprise Size
8.2.4.2.3 UK Security Advisory Services Market by Service Type
8.2.4.3 France Security Advisory Services Market
8.2.4.3.1 France Security Advisory Services Market by Vertical
8.2.4.3.2 France Security Advisory Services Market by Enterprise Size
8.2.4.3.3 France Security Advisory Services Market by Service Type
8.2.4.4 Russia Security Advisory Services Market
8.2.4.4.1 Russia Security Advisory Services Market by Vertical
8.2.4.4.2 Russia Security Advisory Services Market by Enterprise Size
8.2.4.4.3 Russia Security Advisory Services Market by Service Type
8.2.4.5 Spain Security Advisory Services Market
8.2.4.5.1 Spain Security Advisory Services Market by Vertical
8.2.4.5.2 Spain Security Advisory Services Market by Enterprise Size
8.2.4.5.3 Spain Security Advisory Services Market by Service Type
8.2.4.6 Italy Security Advisory Services Market
8.2.4.6.1 Italy Security Advisory Services Market by Vertical
8.2.4.6.2 Italy Security Advisory Services Market by Enterprise Size
8.2.4.6.3 Italy Security Advisory Services Market by Service Type
8.2.4.7 Rest of Europe Security Advisory Services Market
8.2.4.7.1 Rest of Europe Security Advisory Services Market by Vertical
8.2.4.7.2 Rest of Europe Security Advisory Services Market by Enterprise Size
8.2.4.7.3 Rest of Europe Security Advisory Services Market by Service Type
8.3 Asia Pacific Security Advisory Services Market
8.3.1 Asia Pacific Security Advisory Services Market by Vertical
8.3.1.1 Asia Pacific BFSI Market by Country
8.3.1.2 Asia Pacific Government & Public Sector Market by Country
8.3.1.3 Asia Pacific Manufacturing Market by Country
8.3.1.4 Asia Pacific Healthcare Market by Country
8.3.1.5 Asia Pacific Energy & Utilities Market by Country
8.3.1.6 Asia Pacific IT & Telecom Market by Country
8.3.1.7 Asia Pacific Others Market by Country
8.3.2 Asia Pacific Security Advisory Services Market by Enterprise Size
8.3.2.1 Asia Pacific Large Enterprises Market by Country
8.3.2.2 Asia Pacific Small & Medium Enterprises Market by Country
8.3.3 Asia Pacific Security Advisory Services Market by Service Type
8.3.3.1 Asia Pacific CISO Advisory & Support Market by Country
8.3.3.2 Asia Pacific Vulnerability Management Market by Country
8.3.3.3 Asia Pacific Incident Response Market by Country
8.3.3.4 Asia Pacific Security Risk Management Market by Country
8.3.3.5 Asia Pacific Compliance Management Market by Country
8.3.3.6 Asia Pacific Penetration Testing Market by Country
8.3.4 Asia Pacific Security Advisory Services Market by Country
8.3.4.1 China Security Advisory Services Market
8.3.4.1.1 China Security Advisory Services Market by Vertical
8.3.4.1.2 China Security Advisory Services Market by Enterprise Size
8.3.4.1.3 China Security Advisory Services Market by Service Type
8.3.4.2 Japan Security Advisory Services Market
8.3.4.2.1 Japan Security Advisory Services Market by Vertical
8.3.4.2.2 Japan Security Advisory Services Market by Enterprise Size
8.3.4.2.3 Japan Security Advisory Services Market by Service Type
8.3.4.3 India Security Advisory Services Market
8.3.4.3.1 India Security Advisory Services Market by Vertical
8.3.4.3.2 India Security Advisory Services Market by Enterprise Size
8.3.4.3.3 India Security Advisory Services Market by Service Type
8.3.4.4 South Korea Security Advisory Services Market
8.3.4.4.1 South Korea Security Advisory Services Market by Vertical
8.3.4.4.2 South Korea Security Advisory Services Market by Enterprise Size
8.3.4.4.3 South Korea Security Advisory Services Market by Service Type
8.3.4.5 Singapore Security Advisory Services Market
8.3.4.5.1 Singapore Security Advisory Services Market by Vertical
8.3.4.5.2 Singapore Security Advisory Services Market by Enterprise Size
8.3.4.5.3 Singapore Security Advisory Services Market by Service Type
8.3.4.6 Malaysia Security Advisory Services Market
8.3.4.6.1 Malaysia Security Advisory Services Market by Vertical
8.3.4.6.2 Malaysia Security Advisory Services Market by Enterprise Size
8.3.4.6.3 Malaysia Security Advisory Services Market by Service Type
8.3.4.7 Rest of Asia Pacific Security Advisory Services Market
8.3.4.7.1 Rest of Asia Pacific Security Advisory Services Market by Vertical
8.3.4.7.2 Rest of Asia Pacific Security Advisory Services Market by Enterprise Size
8.3.4.7.3 Rest of Asia Pacific Security Advisory Services Market by Service Type
8.4 LAMEA Security Advisory Services Market
8.4.1 LAMEA Security Advisory Services Market by Vertical
8.4.1.1 LAMEA BFSI Market by Country
8.4.1.2 LAMEA Government & Public Sector Market by Country
8.4.1.3 LAMEA Manufacturing Market by Country
8.4.1.4 LAMEA Healthcare Market by Country
8.4.1.5 LAMEA Energy & Utilities Market by Country
8.4.1.6 LAMEA IT & Telecom Market by Country
8.4.1.7 LAMEA Others Market by Country
8.4.2 LAMEA Security Advisory Services Market by Enterprise Size
8.4.2.1 LAMEA Large Enterprises Market by Country
8.4.2.2 LAMEA Small & Medium Enterprises Market by Country
8.4.3 LAMEA Security Advisory Services Market by Service Type
8.4.3.1 LAMEA CISO Advisory & Support Market by Country
8.4.3.2 LAMEA Vulnerability Management Market by Country
8.4.3.3 LAMEA Incident Response Market by Country
8.4.3.4 LAMEA Security Risk Management Market by Country
8.4.3.5 LAMEA Compliance Management Market by Country
8.4.3.6 LAMEA Penetration Testing Market by Country
8.4.4 LAMEA Security Advisory Services Market by Country
8.4.4.1 Brazil Security Advisory Services Market
8.4.4.1.1 Brazil Security Advisory Services Market by Vertical
8.4.4.1.2 Brazil Security Advisory Services Market by Enterprise Size
8.4.4.1.3 Brazil Security Advisory Services Market by Service Type
8.4.4.2 Argentina Security Advisory Services Market
8.4.4.2.1 Argentina Security Advisory Services Market by Vertical
8.4.4.2.2 Argentina Security Advisory Services Market by Enterprise Size
8.4.4.2.3 Argentina Security Advisory Services Market by Service Type
8.4.4.3 UAE Security Advisory Services Market
8.4.4.3.1 UAE Security Advisory Services Market by Vertical
8.4.4.3.2 UAE Security Advisory Services Market by Enterprise Size
8.4.4.3.3 UAE Security Advisory Services Market by Service Type
8.4.4.4 Saudi Arabia Security Advisory Services Market
8.4.4.4.1 Saudi Arabia Security Advisory Services Market by Vertical
8.4.4.4.2 Saudi Arabia Security Advisory Services Market by Enterprise Size
8.4.4.4.3 Saudi Arabia Security Advisory Services Market by Service Type
8.4.4.5 South Africa Security Advisory Services Market
8.4.4.5.1 South Africa Security Advisory Services Market by Vertical
8.4.4.5.2 South Africa Security Advisory Services Market by Enterprise Size
8.4.4.5.3 South Africa Security Advisory Services Market by Service Type
8.4.4.6 Nigeria Security Advisory Services Market
8.4.4.6.1 Nigeria Security Advisory Services Market by Vertical
8.4.4.6.2 Nigeria Security Advisory Services Market by Enterprise Size
8.4.4.6.3 Nigeria Security Advisory Services Market by Service Type
8.4.4.7 Rest of LAMEA Security Advisory Services Market
8.4.4.7.1 Rest of LAMEA Security Advisory Services Market by Vertical
8.4.4.7.2 Rest of LAMEA Security Advisory Services Market by Enterprise Size
8.4.4.7.3 Rest of LAMEA Security Advisory Services Market by Service Type
Chapter 9. Company Profiles
9.1 Cisco Systems, Inc.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.1.5.2 Acquisition and Mergers:
9.1.6 SWOT Analysis
9.2 DXC Technology Company
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Recent strategies and developments:
9.2.4.1 Partnerships, Collaborations, and Agreements:
9.2.5 SWOT Analysis
9.3 Deloitte Touche Tohmatsu Limited
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Recent strategies and developments:
9.3.3.1 Partnerships, Collaborations, and Agreements:
9.3.3.2 Acquisition and Mergers:
9.3.4 SWOT Analysis
9.4 The Sage Group plc
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 SWOT Analysis
9.5 Tata Consultancy Services Ltd.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.5.5 Recent strategies and developments:
9.5.5.1 Product Launches and Product Expansions:
9.5.6 SWOT Analysis
9.6 Rapid7, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Regional Analysis
9.6.4 Research & Development Expenses
9.6.5 Recent strategies and developments:
9.6.5.1 Product Launches and Product Expansions:
9.6.5.2 Acquisition and Mergers:
9.6.6 SWOT Analysis
9.7 Novacoast, Inc.
9.7.1 Company Overview
9.7.2 Recent strategies and developments:
9.7.2.1 Partnerships, Collaborations, and Agreements:
9.7.3 SWOT Analysis
9.8 Kudelski Group (Kudelski Security)
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Recent strategies and developments:
9.8.3.1 Product Launches and Product Expansions:
9.8.4 SWOT Analysis
9.9 eSentire Inc.
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Partnerships, Collaborations, and Agreements:
9.9.3 SWOT Analysis
9.10. KPMG International Limited
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental Analysis
9.10.4 Recent strategies and developments:
9.10.4.1 Acquisition and Mergers:
9.10.5 SWOT Analysis
Chapter 10. Winning Imperatives of Security Advisory Services Market

Companies Mentioned

  • Cisco Systems Inc.
  • DXC Technology Company
  • Deloitte Touche Tohmatsu Limited
  • The Sage Group plc
  • TATA Consultancy Services Ltd.
  • Rapid7, Inc.
  • Novacoast, Inc.
  • Kudelski Group (Kudelski Security)
  • eSentire Inc.
  • KPMG International Limited

Methodology

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