Information Security Consulting Industry Valued at $39.64 Billion by 2029 With CAGR of 8.4% | Size and Share Insights
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What Is the Forecast for the Information Security Consulting Market from 2024 to 2025?
Recent years have seen substantial growth in the size of the information security consulting market. It is projected to witness an upturn from $26.18 billion in 2024 to $28.75 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.8%. The growth noted in the historic period is primarily attributed to the escalating cyber threat landscape, a rise in data breaches, the transition to remote work, heightened awareness of the significance of cybersecurity, and threats particular to certain industries.
What Is the Projected Market Size of the Information Security Consulting Market?
Over the next several years, the information security consulting market is projected to experience robust growth. The market size is anticipated to reach $39.64 billion by 2029, expanding at a compound annual growth rate (CAGR) of 8.4%. This growth during the forecast period can be ascribed to the advent of novel technologies, rising utilization of cloud computing, the initiation of digital transformation, a surge in remote work, and an increased demand for managed security services. As we head into the forecast period, key trends such as a focus on data privacy and compliance, a growing demand for infosecurity consultancy firms, increased attention on cloud security, the implementation of AI and machine learning in security, IoT security issues, supply chain security, and risk-oriented security strategies will prevail.
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Who are the Major Competitors in the Information Security Consulting Market Outlook?
Major companies operating in the information security consulting market are Microsoft Corporation, Verizon Communications Inc., Accenture plc, International Business Machines Corporation (IBM), Cisco Systems Inc., Ernst & Young Global Limited, KPMG International Cooperative, Deloitte Touche Tohmatsu Limited, Hewlett Packard Enterprise Company, Tata Consultancy Services Limited, BAE Systems plc, NTT DATA Corporation, Capgemini SA, Cognizant Technology Solutions Corporation, DXC Technology Company, Atos SE, Wipro Limited, Booz Allen Hamilton Holding Corporation, Palo Alto Networks Inc., Symantec Corporation, Check Point Software Technologies Ltd., CrowdStrike Holdings Inc., SecureWorks Corp., Trustwave Holdings Inc., CyberArk Software Ltd.
What Is Fueling Growth in the Information Security Consulting Market?
The uptick in cybersecurity hazards is anticipated to fuel the expansion of the information security consulting market. These risks are related to possible threats and weaknesses that could jeopardize the confidentiality, integrity, and availability of digital assets, data, and IT systems. These arise from remote working patterns, a deficit in security consciousness, and the advent of new technologies. Information security consulting addresses these cybersecurity risks by pinpointing vulnerabilities, executing preventative methods, getting ready for potential incidents, and ensuring ongoing compliance and consciousness. For example, in November 2022, the Australian Cyber Security Centre, a cybersecurity firm based in Australia, received 76,000 cyber-crime reports, a 13% increase from the previous year. As a result, the escalating cyber threats are propelling the growth of the information security consulting market.
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Which Information Security Consulting Market Segments Are Growing the Fastest?
The information security consulting market covered in this report is segmented –
1) By Type: Security And Compliance, Firewall Management, Email And Cloud Security, Other Types
2) By Deployment Mode: On Premise, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By End User Vertical: Banking, Financial Services, And Insurance, Information Technology And Telecom, Aerospace And Defense, Government, Healthcare, Other End-User Verticals
Subsegments:
1) By Security And Compliance: Regulatory Compliance, Risk Management And Assessment, Vulnerability Management, Incident Response And Forensics, Penetration Testing
2) By Firewall Management: Firewall Configuration And Optimization, Firewall Monitoring And Alerts, Next-Generation Firewalls (NGFW), Cloud Firewall Services, Managed Firewall Services
3) By Email And Cloud Security: Email Encryption And Filtering, Email Authentication, Cloud Access Security Broker (CASB), Cloud Security Posture Management (CSPM), Cloud Data Loss Prevention (DLP)
4) By Other Types: Endpoint Security, Identity And Access Management (IAM), Network Security, Data Security And Encryption, Mobile Device Management (MDM), Managed Security Services (MSSP), Security Information And Event Management (SIEM)
Which Industry Trends Are Shaping the Future of the Information Security Consulting Market?
Leading entities within the information security consulting sector are intensifying their focus on crafting innovative advancements including strategic cybersecurity consulting. This approach aims to amplify their current cybersecurity services and deliver bespoke cyber strategies and solutions to their client base in the region. Strategic cybersecurity consulting entails the provision of expert cybersecurity consultants to aid organisations in structuring and administering their information security strategies. For instance, Wipro Limited, an IT firm based in India, inaugurated its strategic cybersecurity consulting offering, dubbed CyberTransform, in Europe in November 2022. These state-of-the-art consulting services will equip organizations with the tools to conceive digital risk and cybersecurity strategies. The primary goal of this initiative is to supply clients with a palpable blueprint for implementing cybersecurity protocols. Furthermore, this consultant offers expertise in several domains like configuration evaluations, security program formulation, tailored on-demand services, information security strategizing, privacy and security policy creation, and risk assessments. This is all part of their efforts to reinforce their cybersecurity stance and realise enduring resilience.
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Which Countries Are Leading the Information Security Consulting Market?
North America was the largest region in the information security consulting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information security consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the information security consulting market, and how is it changing globally?
2. Who are the major companies in the information security consulting market, and how are they performing?
3. What are the key opportunities and risks in the information security consulting market right now?
4. Which products or customer segments are growing the most in the information security consulting market?
5. What factors are helping or slowing down the growth of the information security consulting market?
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