17.7% Global CAGR for Security Advisory Services Market to achieve US$ 37.86 Bn by 2027

DELOITTE TOUCHE TOHMATSU LIMITED, DXC TECHNOLOGY COMPANY, PRICEWATERHOUSECOOPERS INTERNATIONAL LIMITED, CISCO SYSTEMS, INC., TATA CONSULTANCY SERVICES LIMITED, AMONG OTHERS ARE SOME OF THE PROMINENT MARKET PLAYERS

The evolving technology landscape, the growing trend of process automation across industries, and the rising proliferation of connected devices among customers are some of the key factors that are driving enterprises to adopt advanced security solutions and services. The ongoing trend of digital transformation is making enterprises operating in critical sectors such as BFSI, government, and healthcare more prone to cyber-attacks. In the past decade, the frequency and complexity of cyber-attacks and data breaches have increased multifold. The size of the organization is no more a factor as with large enterprises, small and medium-sized enterprises are also being targeted by cybercriminals at a fast pace. Hence, the need to understand potential threats, identify vulnerabilities, and take remedial steps to prevent & counter-attacks is growing at a fast pace across industries. With constantly evolving security threats, the demand for efficient security advisory services is also growing. The security advisory service providers offer various IT and information security-related services such as penetration testing, security program management, vulnerability management, incident response, compliance management, CISO advisory and support, and security risk management. To understand the potential risks and to enhance the overall company’s security framework, the security advisory services are availed by various stakeholders such as chief executive officers, chief information security officers, chief risk officers, boards of directors, chief information officers, and others.

The major players operating in the global security advisory services market such as Deloitte, PwC, KPMG, and others are offering end to end service capabilities to their clients, which help them in preventing and countering any possible risks that they may face owing to the fast-changing technology landscape. The security advisory service providers help organizations in identifying potential vulnerabilities, safeguarding sensitive assets, and implementing measures to prevent any possible attacks.

The deployment of new technological solutions among industries across the world is anticipated to offer ample opportunities to the market players during the forecast period of 2019 to 2027. The players present in the security advisory services market are mainly concentrating on business contracts, partnerships, collaborations, and new service developments. Some of the important market initiatives and developments in the security advisory services market are mentioned below:

Year

News

Country

2020

Deloitte announced the acquisition of boutique cyber security consultancy SecurePath in Malaysia. This acquisition would help the company to accelerate its cyber risk services.

Europe

2019

eSentire, Inc. announced that it has become a member of the Tenable Assure Partner Program and strengthened its portfolio with Cyber Exposure solutions

North America

2019

DXC Technology inaugurated a next-gen security operation center in Malaysia. The company’s security operations center optimizes the security of firms by incorporating security solutions to avoid security threats and vulnerabilities.

North America

2018

In August 2018, Cisco Systems, Inc. acquired Duo Security, Inc., a US-based company. The company acquired Duo Security for US$ 2.35 Bn, which offers cloud-based tools to prevent security breaches on devices. This acquisition would enable Cisco to handle areas of concern for its customers, such as security.

North America

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