Security Advisory Services Market Research Report – Global Forecast till 2027

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 2027

ID: MRFR/ICT/6132-HCR | February, 2021 | Region : Global

Security Advisory Services Market Synopsis:
The security advisory services market is expected to grow from USD 5.24 billion to USD 11.79 billion by 2023 at the CAGR of 17.6% from 2018 to 2023. The growth can be attributed to the growing complexity of the IT infrastructure of enterprises, an increasing number of cyberattacks, and the need to adhere to various government regulations. The adoption of cloud computing, social media, IoT, mobile computing, and hyper-connectivity have provided numerous digital businesses the opportunity to enhance the efficiency of their businesses; however, this has also made them more vulnerable by exposing them to a larger cyber-attack surface. For enterprises, the implementation of robust security solutions has become an important area to consider.



A security advisory service enables enterprises to build a security strategy as per the business model and needs. It also provides support in implementing a robust security infrastructure for the enterprise to protect its digital assets from advanced cyber-attacks. Major services that are offered as part of security advisory services includes security risk management, threat & vulnerability management, and guidance in implementing the security operations center (SOC). Although the service is gaining traction among enterprises of all scale,  lack of awareness about various cyber threats and limited spending on cybersecurity is expected to hinder the growth of the security advisory services market.


Security advisory services have a wide adoption across the globe, particularly in the BFSI industry vertical. The industry vertical has always been the most lucrative target for cybercriminals who aim at gaining huge monetary benefits quickly. In recent years, the manufacturing industry has also experienced a high frequency of cyber-attacks,  due to which, it is expected to show the fastest adoption of security advisory services in the next five years.


Security Advisory Services Market Segmentation:
The global security advisory services market has been segmented  on the basis of service, organization size, industry vertical, and region/country.


  • By service, the market has been segmented into risk & compliance management, security program development, incident management, penetration testing, vulnerability management, and chief information security officer (CISO) advisory and support.

  • By organization size, the market has been segmented into large enterprises and small & medium-sized enterprises (SMEs).

  • Based on industry vertical, the market has been segmented into banking, financial services, and insurance (BFSI), government & public sector, healthcare, IT & telecom, manufacturing, energy & utilities, and others.

  • By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America has further been segmented into the US, Canada, and Mexico; Europe into the UK, Germany, France, and the rest of Europe; Asia-Pacific into China, India, Japan, and the rest of Asia-Pacific; and the rest of the world into the Middle East & Africa and South America.


Security Advisory Services Market Regional Analysis:
The global market for security advisory services is estimated to grow rapidly during the forecast period from 2018 to 2023. The geographical analysis of global security advisory services market is studied for North America, Europe, Asia-Pacific, and the rest of the world.


North America is anticipated to have the largest market share in the global security advisory services market. The US, Canada, and Mexico are the leading countries in the region. The growth is attributed to the fast adoption of new technologies, the occurrence of the highest number of cyber attacks, and the presence of several key service providers. Asia-Pacific is presumed to be the fastest growing market in the global security advisory services market over the forecast period. Increasing digitalization and growing financial sector are the key driving factors for the adoption of security advisory services in the region.


Security Advisory Services Market Competitive Analysis:
The security advisory services market has the presence of a large number of service providers that intensifies competition in the market. The major service providers are adopting the strategy of enhancing their service offerings to offer best in class services to their customers and maintain a leading position in the market. Partnerships, including  agreements and collaborations, is the second most adopted strategy by the major vendors during 2016—2019 Q1 as it enabled them to enhancetheir expertise and serve new customers.


Security Advisory Services Market Key Players:
The prominent players in security advisory services market are Deloitte Touche Tohmatsu Limited (US), Ernst & Young Global Limited (UK), KPMG International Cooperative (Netherlands), PricewaterhouseCoopers Private Limited (UK), Coalfire Systems, Inc. (US), CybeRisk (US), Cisco Systems, Inc. (US), Tata Consultancy Services Limited (India), eSentire, Inc. (Canada), Security Compass (Canada), Novacoast, Inc. (US), Kudelski Security (Switzerland), DXC Technology Company (US), Rapid7 LLC (US), and Intertek Group PLC (UK).


Intended Audience:



  • Security Advisory Service Providers

  • Cybersecurity Solution Providers

  • Cybersecurity Service Providers

  • Managed Service Providers

  • System Integrators

  • Managed Security Service Providers

  • Enterprises

  • Distributors and Value-added Resellers (VARs)

  • Security Standards Making Bodies and Associations

  • IT Consultants

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining Power of Suppliers

4.1.3 Bargaining Power of Buyers

4.1.4 Threat of Substitutes

4.1.4 Segment Rivalry

4.2 Value Chain/Supply Chain of the Global Security Advisory Services Market

5 Industry Overview of the Global Security Advisory Services Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact Analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact Analysis

7 Global Security Advisory Services Market, by Service

7.1 Introduction

7.2 Risk & Compliance Management

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast, by Region, 2020-2027

7.3 Security Program Development

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast, by Region, 2020-2027

7.4 Incident Management

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast, by Region, 2020-2027

7.5 Penetration Testing

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast, by Region, 2020-2027

7.6 Vulnerability Management

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast, by Region, 2020-2027

7.7 Chief Information Security Officer (CISO) Advisory and Support

7.7.1 Market Estimates & Forecast, 2020-2027

7.7.2 Market Estimates & Forecast, by Region, 2020-2027

8 Global Security Advisory Services Market, by Organization Size

8.1 Introduction

8.2 Small & Medium-Sized Enterprises

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast, by Region, 2020-2027

8.3 Large Enterprises

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast, by Region, 2020-2027

9 Global Security Advisory Services Market, by Industry Vertical

9.1 Introduction

9.2 BFSI

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast, by Region, 2020-2027

9.3 Government and Public Sector

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast, by Region, 2020-2027

9.4 Healthcare

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast, by Region, 2020-2027

9.5 IT and Telecom

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast, by Region, 2020-2027

9.6 Manufacturing

9.6.1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast, by Region, 2020-2027

9.7 Energy & Utilities

9.7.1 Market Estimates & Forecast, 2020-2027

9.7.2 Market Estimates & Forecast, by Region, 2020-2027

9.8 Others

9.8.1 Market Estimates & Forecast, 2020-2027

9.8.2 Market Estimates & Forecast, by Region, 2020-2027

10 Global Security Advisory Services Market, by Region

10.1 Introduction

10.2 North America

10.2.1 Market Estimates & Forecast, by Country, 2020-2027

10.2.2 Market Estimates & Forecast, by Service, 2020-2027

10.2.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.2.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.2.5 US

10.2.5.1 Market Estimates & Forecast, 2020-2027

10.2.5.2 Market Estimates & Forecast, by Service, 2020-2027

10.2.5.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.2.5.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.2.6 Canada

10.2.6.1 Market Estimates & Forecast, 2020-2027

10.2.6.2 Market Estimates & Forecast, by Service, 2020-2027

10.2.6.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.2.6.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.2.7 Mexico

10.2.7.1 Market Estimates & Forecast, 2020-2027

10.2.7.2 Market Estimates & Forecast, by Service, 2020-2027

10.2.7.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.2.7.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.3 Europe

10.3.1 Market Estimates & Forecast, by Country, 2020-2027

10.3.2 Market Estimates & Forecast, by Service, 2020-2027

10.3.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.3.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.3.5 Germany

10.3.5.1 Market Estimates & Forecast, 2020-2027

10.3.5.2 Market Estimates & Forecast, by Service, 2020-2027

10.3.5.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.3.5.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.3.6 UK

10.3.6.1 Market Estimates & Forecast, 2020-2027

10.3.6.2 Market Estimates & Forecast, by Service, 2020-2027

10.3.6.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.3.6.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.3.7 France

10.3.7.1 Market Estimates & Forecast, 2020-2027

10.3.7.2 Market Estimates & Forecast, by Service, 2020-2027

10.3.7.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.3.7.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.3.9 Rest of Europe

10.3.9.1 Market Estimates & Forecast, 2020-2027

10.3.9.2 Market Estimates & Forecast, by Service, 2020-2027

10.3.9.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.3.9.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.4 Asia-Pacific

10.4.1 Market Estimates & Forecast, by Country, 2020-2027

10.4.2 Market Estimates & Forecast, by Service, 2020-2027

10.4.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.4.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.4.5 China

10.4.5.1 Market Estimates & Forecast, 2020-2027

10.4.5.2 Market Estimates & Forecast, by Service, 2020-2027

10.4.5.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.4.5.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.4.6 India

10.4.6.1 Market Estimates & Forecast, 2020-2027

10.4.6.2 Market Estimates & Forecast, by Service, 2020-2027

10.4.6.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.4.6.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.4.7 Japan

10.4.7.1 Market Estimates & Forecast, 2020-2027

10.4.7.2 Market Estimates & Forecast, by Service, 2020-2027

10.4.7.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.4.7.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.4.8 Rest of Asia-Pacific

10.4.8.1 Market Estimates & Forecast, 2020-2027

10.4.8.2 Market Estimates & Forecast, by Service, 2020-2027

10.4.8.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.4.8.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.5 Rest of the World

10.5.1 Market Estimates & Forecast, by Subcontinent, 2020-2027

10.5.2 Market Estimates & Forecast, by Service, 2020-2027

10.5.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.5.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.5.5 Middle East & Africa

10.5.5.1 Market Estimates & Forecast, 2020-2027

10.5.5.2 Market Estimates & Forecast, by Service, 2020-2027

10.5.5.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.5.5.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

10.5.6 Latin America

10.5.6.1 Market Estimates & Forecast, 2020-2027

10.5.6.2 Market Estimates & Forecast, by Service, 2020-2027

10.5.6.3 Market Estimates & Forecast, by Organization Size, 2020-2027

10.5.6.4 Market Estimates & Forecast, by Industry Vertical, 2020-2027

11 Company Landscape

12 Company Profiles

12.1 Deloitte Touche Tohmatsu Limited

12.1.1 Company Overview

12.1.2 Product/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.2 Ernst & Young Global Limited

12.2.1 Company Overview

12.2.2 Product/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.3 KPMG International Cooperative

12.3.1 Company Overview

12.3.2 Product/Business Segment Overview

12.3.3 Financial Updates

12.3.4 Key Developments

12.4 PricewaterhouseCoopers Private Limited

12.4.1 Company Overview

12.4.2 Product/Business Segment Overview

12.4.3 Financial Updates

12.4.4 Key Developments

12.5 Coalfire Systems, Inc.

12.5.1 Company Overview

12.5.2 Product/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.6 CybeRisk

12.6.1 Company Overview

12.6.2 Product/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.7 Cisco Systems, Inc.

12.7.1 Company Overview

12.7.2 Product/Business Segment Overview

12.7.3 Financial Updates

12.7.4 Key Developments

12.8 Tata Consultancy Services Limited

12.8.1 Company Overview

12.8.2 Product/Business Segment Overview

12.8.3 Financial Updates

12.8.4 Key Developments

12.9 eSentire, Inc.

12.9.1 Company Overview

12.9.2 Product/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.10 Security Compass

12.10.1 Company Overview

12.10.2 Product/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

12.11 Novacoast, Inc.

12.11.1 Company Overview

12.11.2 Product/Business Segment Overview

12.11.3 Financial Updates

12.11.4 Key Developments

12.12 Kudelski Security

12.12.1 Company Overview

12.12.2 Product/Business Segment Overview

12.12.3 Financial Updates

12.12.4 Key Developments

12.13 DXC Technology Company

12.13.1 Company Overview

12.13.2 Product/Business Segment Overview

12.13.3 Financial Updates

12.13.4 Key Developments

12.14 Rapid7 LLC

12.14.1 Company Overview

12.14.2 Product/Business Segment Overview

12.14.3 Financial Updates

12.14.4 Key Developments

12.15 Intertek Group plc

12.15.1 Company Overview

12.15.2 Product/Business Segment Overview

12.15.3 Financial Updates

12.15.4 Key Developments

13 Conclusion

LIST OF TABLES

Table 1 Global Security Advisory Services Market, by Region, 2020-2027

Table 2 North America: Security Advisory Services Market, by Country, 2020-2027

Table 3 Europe: Security Advisory Services Market, by Country, 2020-2027

Table 4 Asia-Pacific: Security Advisory Services Market, by Country, 2020-2027

Table 5 Middle East & Africa: Security Advisory Services Market, by Country, 2020-2027

Table 6 Latin America: Security Advisory Services Market, by Country, 2020-2027

Table 7 Global Security Advisory Services Type Market, by Region, 2020-2027

Table 8 North America: Security Advisory Services Type Market, by Country, 2020-2027

Table 9 Europe: Security Advisory Services Type Market, by Country, 2020-2027

Table 10 Asia-Pacific: Security Advisory Services Type Market, by Country, 2020-2027

Table 11 Middle East & Africa: Security Advisory Services Type Market, by Country, 2020-2027

Table 12 Latin America: Security Advisory Services Type Market, by Country, 2020-2027

Table 13 Global Security Advisory Services Organization Size Market, by Region, 2020-2027

Table 14 North America: Security Advisory Services Organization Size Market, by Country, 2020-2027

Table 15 Europe: Security Advisory Services Organization Size Market, by Country, 2020-2027

Table 16 Asia-Pacific: Security Advisory Services Organization Size Market, by Country, 2020-2027

Table 17 Middle East & Africa: Security Advisory Services Organization Size Market, by Country, 2020-2027

Table 18 Latin America: Security Advisory Services Organization Size Market, by Country, 2020-2027

Table 19 Global Security Advisory Services Industry Vertical Market, by Region, 2020-2027

Table 20 North America: Security Advisory Services Industry Vertical Market, by Country, 2020-2027

Table 21 Europe: Security Advisory Services Industry Vertical Market, by Country, 2020-2027

Table 22 Asia-Pacific: Security Advisory Services Industry Vertical Market, by Country, 2020-2027

Table 23 Middle East & Africa: Security Advisory Services Industry Vertical Market, by Country, 2020-2027

Table 24 Latin America: Security Advisory Services Industry Vertical Market, by Country, 2020-2027

Table 25 Global Type Market, by Region, 2020-2027

Table26 Global Organization Size Market, by Region, 2020-2027

Table 27 Global Industry Vertical Market, by Region, 2020-2027

Table 28 North America: Security Advisory Services Market, by Country

Table 29 North America: Security Advisory Services Market, by Service

Table 30 North America: Security Advisory Services Market, by Organization Size

Table 31 North America: Security Advisory Services Market, by Industry Vertical

Table 32 Europe: Security Advisory Services Market, by Country

Table 33 Europe: Security Advisory Services Market, by Service

Table 34 Europe: Security Advisory Services Market, by Organization Size

Table 35 Europe: Security Advisory Services Market, by Industry Vertical

Table 36 Asia-Pacific: Security Advisory Services Market, by Country

Table 37 Asia-Pacific: Security Advisory Services Market, by Service

Table 38 Asia-Pacific: Security Advisory Services Market, by Organization Size

Table 39 Asia-Pacific: Security Advisory Services Market, by Industry Vertical

Table 40 Middle East & Africa: Security Advisory Services Market, by Country

Table 41 Middle East & Africa: Security Advisory Services Market, by Service

Table 42 Middle East & Africa: Security Advisory Services Market, by Organization Size

Table 43 Middle East & Africa: Security Advisory Services Market, by Industry Vertical

Table 44 Latin America: Security Advisory Services Market, by Country

Table 45 Latin America: Security Advisory Services Market, by Service

Table 46 Latin America: Security Advisory Services Market, by Organization Size

Table 47 Latin America: Security Advisory Services Market, by Industry Vertical

LIST OF FIGURES

FIGURE 1 Global Security Advisory Services Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of the Global Security Advisory Services Market

FIGURE 4 Value Chain of the Global Security Advisory Services Market

FIGURE 5 Share of the Global Security Advisory Services Market, by Country, 2020 (in %)

FIGURE 6 Global Security Advisory Services Market, 2020-2027

FIGURE 7 Sub-Segments of Type

FIGURE 8 Global Security Advisory Services Market Size, by Service, 2020

FIGURE 9 Share of the Global Security Advisory Services Market, by Service, 2020-2027

FIGURE 10 Global Security Advisory Services Market Size, by Organization Size, 2020

FIGURE 11 Share of Global Security Advisory Services Market, by Organization Size, 2020-2027

FIGURE 12 Global Security Advisory Services Market Size, by Industry Vertical, 2020-2027

FIGURE 13 Share of Global Security Advisory Services Market, by Industry Vertical, 2020-2027

Security Advisory Services Market