According to the new research report published by The Insight Partners, titled “Security Advisory Services Market”, the global security advisory services market was valued US$ 8.85 Bn in 2018 and is expected to reach US$ 37.86 Bn by 2027 with a CAGR growth rate of 17.7% in the forecast period from 2019 to 2027.
In 2018, North America is estimated to account to hold the largest market share, growing at a CAGR of 16.5 % during the forecast period of 2019 to 2027.
Top Key Players
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.
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The North American security advisory services market consists of countries such as the US, Canada, and Mexico. The region has the world’s most advanced information technology industry. Thus, it focuses on investing in the software and services to maintain its position among the competitors across the globe. Owing to the rise in internet users, the influx of hackers also increased that commit cybercrime, such as phishing and cyber-warfare. Hence, these threats are encouraging various industries to adopt security advisory services in the region. The organizations in the region are investing heavily for the security of their networks. Also, they are providing training to their employees to manage the digital workplace safely. The major reason for huge investment in cybersecurity is the widespread cybercrime not only in IT, telecom, and BFSI but also among small, medium, and large enterprises. In December 2019, hackers from different provinces had stolen the login credentials of the government agencies in various regions, and North America was one of the victims of hacking.
Key findings of the study:
In 2018, the North America region accounted for the largest market share due to the increasing concerns regarding cybersecurity and the increasing number of cyber-attacks. The companies operating in the region are focusing on enhancing the security measures to reduce the risk of cyber-attacks, which is supporting the growth of security advisory services across the Region.
The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period owing to the increasing the IT sector and a growing number of cyber-attacks in the regions.
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