Security Advisory Services Market : Key Players, Applications, Outlook, SWOT Analysis And Forecasts 2022 to 2032

According to a recent market study by Future Market Insights (FMI), the global market for security advisory services is estimated to be worth US$ 13.2 billion in 2022 and US$ 41.4 billion by the year 2032. The market will expand at a CAGR of 12.1% between 2022 and 2032.

According to the report's findings, income from CISO Advisory and Support increased at a CAGR of 19% from 2015 to 2021. A security information programme that is intended to safeguard organisations' priceless information from both internal and external threats will be developed and implemented with the assistance of the CISO.

BFSI Vertical continues being growth axis for security advisory services revenue

Because they deal with so much sensitive information, BFSI sectors mostly employ security advice services. The fast global expansion of the BFSI industry has led to a rise in the use of security advice services in this industry vertical. From 2015 to 2021, the BFSI vertical's revenue expanded at a CAGR of 19.1%.

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Security Advisory Services Market: Competition Insights

Currently, security advisory services providers are developing new service offerings and expanding their existing service offerings with the addition of new tools and modules. The key companies operating in the security advisory services market include Cisco, DXC Technology, KPMG, Deloitte, PricewaterhouseCoopers (PwC), Tata Consultancy Services, Ernst Young, Verizon, Rapid7, Dimension Data, eSentire Inc., Kudelski Security, NTT Security, ePlus, Coalfire, Novacoast, Inc., Security Compass, Sage Data Security and Avalon Cyber.

The key recent developments of security advisory services developers are as follows:

In July 2022, Deloitte announced the expansion of its Managed Extended Detection and Response Platform (MXDR) by adding four new modules for dynamic opponent intelligence, mobile device security, threat hunting, and digital risk prevention. The platform also includes enhanced cybersecurity industry intelligence. The new MXDR expansion will help organizations to take defensive actions against cyber-attacks.
In June 2022, DXC Technologies announced new advisory service for Australian State Government agencies. The new service will help the government to maximize value and efficiency from Oracle technology and provide better techniques and advice across process and technology.
In June 2021, CISCO announced its CX Business Critical Services for Cloud in ‘Future Cloud event’. The CX Business Critical Services for Cloud provide advisory services and knowledge to design, implement, secure and maximize digital changes.
In January 2020, CISCO launched Cisco Cyber Vision an advanced threat detection powered by Cisco Talos. Cisco Cyber Vision can detect and deliver in-the-moment monitoring of cyber security risks to industrial processes and assets that have an impact on uptime, output and safety.
In November 2019, DXC Technology announced the acquisition of Virtual Clarity, a provider of IT-as-a-service transformation advisory services company. The acquisition will help DXC Technology’s ability to assess, manage and design transformations to cloud.
In June 2019, DXC Technology announced the opening of the DXC innovation Centre in London. The innovation centre will help company to develop and deliver high efficient solutions to the clients.
In April 2019, DXC Technology launched the operation of its Next Generation Security Operation centre in Malaysia to encounter cybersecurity threat in Asia. The new security operation centre helps to enhance the overall security of enterprises by joining the advanced security analytics throughout the information technology and operation technology to provide better visibility and enhanced response to possible cyber-attacks and threats.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Security Advisory Services Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Access Control and Authentication Market in terms of Service Type (Penetration Testing, Vulnerability Management, Security Risk Management, Incident Response, Compliance Management, Security Program Management, CISO Advisory and Support), by Organization Size (SMEs, Large Enterprises), by Vertical (BFSI, Government and Public Sector, IT and Telecom, Healthcare, Energy and Power, Manufacturing, Others), across five regions (North America, Asia Pacific, Europe, Middle East Africa and Latin America).

Key Segments Covered In Security Advisory Services Industry Survey

Security Advisory Services Market by Service Type: