Security Advisory Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Security Advisory Services Market
The security advisory services market size was valued at USD 12.02 billion in 2022, and the market is now projected to grow from USD 14.32 billion in 2023 to USD 50.80 billion by 2030, exhibiting a CAGR of 19.8% during the forecast period of 2023-2030.
The COVID-19 outbreak caused many corporations searching for to triumph over new operational and, therefore, economic demanding situations, the risks of cyber-attacks accelerated appreciably for the duration of the pandemic. Scammers took advantage of disorder with various phishing programs that offered information that came from recognizable trusted institutions such as some health-related organizations.
SECaaS is also receiving hobby because of the growing number of cloud projects to enhance performance and remodel employer in industries. This trend is of maximum use for SMEs as such companies largely lack enough technique for safety in the direction of extended threats of record, community, and packages. All these corporations can use the cloud offerings to gather method of proper security inside context that calls for a scalable solution against cyber threats. That is why SECaaS is gradually becoming popular around the world.
Generally, SMEs are essential to many economies producing up to 40% of the GDP of developing countries but are prone to cyber criminals’ attacks. This survey mentioned that 43% is suffered by means of small enterprise organizations and it charges an average of 200 million USD per incident. It shows that such attacks can yield severe financial losses and demonstrates the necessity for more recognition of the cyber threats and shielding for small and medium enterprises.
Comprehensive Analysis of Security Advisory Services Market
The security advisory services market growth is rising at an exponential rate due to its market segmentation. This market expansion rightfully provides a detailed local perspective of the market operating forces such as supply and demand forces that shape the industry. These segmentations are methodically segregated by service type analysis, by enterprise type analysis, and by industry analysis. By service type analysis include vulnerability management, incident response, security risk management, compliance management, and CISO advisory & support. By enterprise type analysis include SMEs and large enterprises. By industry analysis include BFSI, IT & telecom, healthcare, government, manufacturing, energy & utility, and others.
The North America region lead the security advisory services market share by benefitting a market size of USD 5.37 billion in 2022 due to increasing diversity, volume, and sophistication of cyber threats.
Top players in the market have their responsibility of information & communication technology industrial prospectus growth of the retailing industry and the markets. These players include Cisco, DXC Technologies, KPMG, PwC, EY, Deloitte, NTT Security, Sage Data Security, Verizon, TCS these market players provide a level-playing competitive landscape.
In November 2023, PwC U.K. entered a strategic partnership with Wiz to link PwC’s Cyber Risk and Advisory Services with Wiz’s CNAPP for its clients.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 19.8% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Service Type
Vulnerability Management
Incident Response
Security Risk Management
Compliance Management
CISO Advisory and Support
By Enterprise Type
SMEs
Large Enterprises
By Industry
IT & Telecom
BFSI
Healthcare
Government
Manufacturing
Energy & Utility
Others
By Region
North America (By Service Type, Enterprise Type, Industry, and Country)
U.S.
Canada
Mexico
South America (By Service Type, Enterprise Type, Industry, and Country)
Brazil
Argentina
Rest of South America
Europe (By Service Type, Enterprise Type, Industry, and Country)
U.K.
Germany
France
Italy
Spain
Russia
Benelux
Nordics
Rest of Europe
Middle East & Africa (By Service Type, Enterprise Type, Industry, and Country)
Turkey
Israel
GCC
North Africa
South Africa
Rest of the Middle East & Africa
Asia Pacific (By Service Type, Enterprise Type, Industry, and Country)
China
Japan
India
South Korea
ASEAN
Oceania
Rest of Asia Pacific
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