Global Security Advisory Services Market Size, Share, Opportunities, And Trends By Application (Penetration Testing, Vulnerability Management, Risk Management Strategy, Incident Response, Compliance Management, Security Program Development, Chief Information Security Officer Advisory And Support), By Enterprise Size (Small, Medium, Large), By End-User Industry (Communication And Technology, Government, Military And Defence, Manufacturing, Healthcare, BFSI, Others), And By Geography - Forecasts From 2024 To 2029

The global security advisory services market is evaluated at US$12.922 billion for the year 2022 and is projected to grow at a CAGR of 12.61% to reach a market size of US$29.687 billion by the year 2029.

Organisations need security advice services to assist them manage the complicated world of cybersecurity risks and attacks. These services comprise a variety of professional consultations from cybersecurity experts and companies, to evaluate and strengthen an organization's security posture. These consultants find weaknesses and possible dangers through in-depth risk assessments, offering insightful information about areas that need improvement. They also provide advice on adhering to industry standards and laws, making sure that businesses follow the law and industry best practices. To protect information assets, security advice services frequently entail the creation and use of specialized security strategies, rules, and procedures.

MARKET TRENDS:

There is an increase in the adoption of information communication, technology, data encryption, and cybersecurity solutions by different end-user industries. These industries include BFSI, communication and technology, and automobiles, among others, and these are done to achieve scalability, protect identities and transactions, reduce operational costs, decrease uptime, and encrypt the sensitive data generated. The protection of digital signatures to prevent data breaches is increasing the demand for effective encryption solutions. These factors are thereby leading to a surge in the demand for such solutions and bolstering the market growth over the forecast period.

MARKET DRIVERS:

• Escalating cyber threats are anticipated to propel the market.

The security consulting services market is significantly impacted by the rise in cyber risks, which raises the need for more specialized knowledge and strategic direction. The task of strengthening defenses against advanced threats such as ransomware and phishing is a problem that organizations must face due to their changing and sophisticated nature. Many organizations find that the complexity of these risks exceeds their capabilities, leading them to seek professional insights and advice from security consulting services. Security advisers are essential in identifying weaknesses, supplying threat intelligence, and creating strong cybersecurity plans that are customized to each client's unique requirements.

• Digital transformation initiatives might impact market growth.

Initiatives aimed at digital transformation have a significant effect on the market for security advisory services because they increase the attack surface and heighten the demand for professional cybersecurity advice. Organizations face new cybersecurity risks as their IT infrastructures become more complex due to the use of cloud computing, IoT, and other revolutionary technologies. The increased danger of data breaches and other security problems is brought on by the expanded attack surface, which gives cyber attackers more options. Security advisory services are essential in assisting organizations in identifying vulnerabilities, evaluating risks, and putting into practice strong cybersecurity plans that support their objectives for digital transformation in response to these difficulties.

The communications and technology industries is predicted to hold a considerable share over the forecast period.

This is attributed to the increasing penetration of the internet and the rising availability of high-speed internet at affordable prices, which leads to the generation of voluminous amounts of user data. Owing to this, user data is being put at risk, which is a direct consequence of increasing cybercrimes and cyber-attacks in recent years, which has led various service providers to adopt security advisory services. Moreover, the military and defense sector is estimated to increase its market share over the forecast period, as there is a lot of data such as defense technology, state secrets, and information that is at risk to spies and other ransomware agents. This not only resulted in the deployment and adoption of other ICT solutions but security advisory solutions as well, which is anticipated to contribute to the market share.

North America is anticipated to be the major regional market.

The North American region is estimated to hold a significant share over the forecast period since the incidences of cybercrimes and cyber-attacks are increasing and are leading to the exploitation of the user data being generated due to the rising usage of internet services. Moreover, the well-developed communication and telecommunication industries are also contributing to the market share of the region. In addition, the Asia Pacific region is estimated to hold a significant share over the forecast period because the governments of countries such as India are taking extensive measures to adopt such solutions to minimize the number of phishing emails and financial frauds which are surging at a decent rate in the country.

Product Offerings:

• Novacoast, a company involved in the provision of various services under the segments including development, identity, access, security, and compliance also offers a variety of cybersecurity advisory services such as “Incident Response”, “DDOS Assessment”, and “Threat Hunting” among others. Their incident response solutions offer the clients persistent threat management, forensics, and containment solutions. The DDOS assessment is a solution that is being provided for end-users such as hospitals, and public utility providers, among others. These solutions aid the end-users in preventing DDOS attacks, which can result in websites being shut down and different IT services being disabled.
• Tata Consultancy Services Limited, which is also one of the leading companies globally dealing in the provision of a host of services to various end-users, offers cybersecurity advisory, assessment, and architecture services. Some of the solutions include Identity and Access Management (offers IAM maturity assessment, IAM architecture, and product evaluation) Enterprise Vulnerability Management (offers vulnerability assessment, penetration testing, and ethical hacking), Digital Forensics, and Fraud Management (offers a host of solutions including privacy impact assessment, supplier risk framework, and maturity assessment, etc.).

Key Developments:

• In January 2024, to fix a vulnerability in Aria Automation, VMware published a security alert. This vulnerability might be used by a cyber threat actor to take over a compromised machine.
• In December 2023, OpenEoX is a global movement to standardize the sharing of End-of-Life (EOL) and End-of-Support (EOS) information among the software and hardware sectors. It was introduced by OASIS Open, the international standards and open source group.
• In November 2023, leading Microsoft solutions supplier Avanade announced that it became a member of the Security Copilot Design Advisory Council at Microsoft. Council members are collaborating in various ways with Microsoft product teams to influence Security Copilot product development.

Security Advisory Services Market Scope:

 

Report Metric	Details
Market Size Value in 2022	US$12.922 billion
Market Size Value in 2029	US$29.687 billion
Growth Rate	CAGR of 12.61% from 2022 to 2029
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2023
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Application Enterprise Size End-User Industry Geography
Companies Covered	PWC EY Deloitte KPMG Kudelski Security
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

Segmentation:

• By Application
  • Penetration Testing
  • Vulnerability Management
  • Risk Management Strategy
  • Incident Response
  • Compliance Management
  • Security Program Development
  • Chief Information Security Officer Advisory and Support
• By Enterprise Size
  • Small
  • Medium
  • Large
• By End-User Industry
  • Communication and Technology
  • Government
  • Military and Defence
  • Manufacturing
  • Healthcare
  • BFSI
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. GLOBAL SECURITY ADVISORY SERVICES MARKET, BY APPLICATION

5.1. Introduction

5.2. Penetration Testing

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Vulnerability Management

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Risk Management Strategy

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

5.5. Incident Response

5.5.1. Market Trends and Opportunities

5.5.2. Growth Prospects

5.5.3. Geographic Lucrativeness

5.6. Compliance Management

5.6.1. Market Trends and Opportunities

5.6.2. Growth Prospects

5.6.3. Geographic Lucrativeness

5.7. Security Program Development

5.7.1. Market Trends and Opportunities

5.7.2. Growth Prospects

5.7.3. Geographic Lucrativeness

5.8. Chief Information Security Officer Advisory and Support

5.8.1. Market Trends and Opportunities

5.8.2. Growth Prospects

5.8.3. Geographic Lucrativeness

6. GLOBAL SECURITY ADVISORY SERVICES MARKET, BY ENTERPRISE SIZE

6.1. Introduction

6.2. Small

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Medium

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Large

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

7. GLOBAL SECURITY ADVISORY SERVICES MARKET, BY END-USER INDUSTRY

7.1. Introduction

7.2. Communication and Technology

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. Government

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness

7.4. Military and Defence

7.4.1. Market Trends and Opportunities

7.4.2. Growth Prospects

7.4.3. Geographic Lucrativeness

7.5. Manufacturing

7.5.1. Market Trends and Opportunities

7.5.2. Growth Prospects

7.5.3. Geographic Lucrativeness

7.6. Healthcare

7.6.1. Market Trends and Opportunities

7.6.2. Growth Prospects

7.6.3. Geographic Lucrativeness

7.7. BFSI

7.7.1. Market Trends and Opportunities

7.7.2. Growth Prospects

7.7.3. Geographic Lucrativeness

7.8. Others

7.8.1. Market Trends and Opportunities

7.8.2. Growth Prospects

7.8.3. Geographic Lucrativeness

8. GLOBAL SECURITY ADVISORY SERVICES MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Application

8.2.2. By Enterprise Size

8.2.3. By End-User Industry

8.2.4. By Country

8.2.4.1. USA

8.2.4.1.1. Market Trends and Opportunities

8.2.4.1.2. Growth Prospects

8.2.4.2. Canada

8.2.4.2.1. Market Trends and Opportunities

8.2.4.2.2. Growth Prospects

8.2.4.3. Mexico

8.2.4.3.1. Market Trends and Opportunities

8.2.4.3.2. Growth Prospects

8.3. South America

8.3.1. By Application

8.3.2. By Enterprise Size

8.3.3. By End-User Industry

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.1.1. Market Trends and Opportunities

8.3.4.1.2. Growth Prospects

8.3.4.2. Argentina

8.3.4.2.1. Market Trends and Opportunities

8.3.4.2.2. Growth Prospects

8.3.4.3. Others

8.3.4.3.1. Market Trends and Opportunities

8.3.4.3.2. Growth Prospects

8.4. Europe

8.4.1. By Application

8.4.2. By Enterprise Size

8.4.3. By End-User Industry

8.4.4. By Country

8.4.4.1. United Kingdom

8.4.4.1.1. Market Trends and Opportunities

8.4.4.1.2. Growth Prospects

8.4.4.2. Germany

8.4.4.2.1. Market Trends and Opportunities

8.4.4.2.2. Growth Prospects

8.4.4.3. France

8.4.4.3.1. Market Trends and Opportunities

8.4.4.3.2. Growth Prospects

8.4.4.4. Spain

8.4.4.4.1. Market Trends and Opportunities

8.4.4.4.2. Growth Prospects

8.4.4.5. Others

8.4.4.5.1. Market Trends and Opportunities

8.4.4.5.2. Growth Prospects

8.5. Middle East and Africa

8.5.1. By Application

8.5.2. By Enterprise Size

8.5.3. By End-User Industry

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.1.1. Market Trends and Opportunities

8.5.4.1.2. Growth Prospects

8.5.4.2. UAE

8.5.4.2.1. Market Trends and Opportunities

8.5.4.2.2. Growth Prospects

8.5.4.3. Israel

8.5.4.3.1. Market Trends and Opportunities

8.5.4.3.2. Growth Prospects

8.5.4.4. Others

8.5.4.4.1. Market Trends and Opportunities

8.5.4.4.2. Growth Prospects

8.6. Asia Pacific

8.6.1. By Application

8.6.2. By Enterprise Size

8.6.3. By End-User Industry

8.6.4. By Country

8.6.4.1. China

8.6.4.1.1. Market Trends and Opportunities

8.6.4.1.2. Growth Prospects

8.6.4.2. Japan

8.6.4.2.1. Market Trends and Opportunities

8.6.4.2.2. Growth Prospects

8.6.4.3. India

8.6.4.3.1. Market Trends and Opportunities

8.6.4.3.2. Growth Prospects

8.6.4.4. South Korea

8.6.4.4.1. Market Trends and Opportunities

8.6.4.4.2. Growth Prospects

8.6.4.5. Taiwan

8.6.4.5.1. Market Trends and Opportunities

8.6.4.5.2. Growth Prospects

8.6.4.6. Thailand

8.6.4.6.1. Market Trends and Opportunities

8.6.4.6.2. Growth Prospects

8.6.4.7. Indonesia

8.6.4.7.1. Market Trends and Opportunities

8.6.4.7.2. Growth Prospects

8.6.4.8. Others

8.6.4.8.1. Market Trends and Opportunities

8.6.4.8.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. PWC

10.2. EY

10.3. Deloitte

10.4. KPMG

10.5. Kudelski Security

10.6. Coalfire (Apax Partners)

10.7. Delta Risk (Motorola Solutions)

10.8. Novacoast

10.9. TCS

PWC

EY

Deloitte

KPMG

Kudelski Security

Coalfire (Apax Partners)

Delta Risk (Motorola Solutions)

Novacoast

TCS