The North America Security Advisory Services Market would witness market growth of 18.6% CAGR during the forecast period (2023-2030).
Cyber threats' escalating frequency and sophistication constitute a primary driver behind adopting security advisory services. High-profile data breaches, ransomware attacks, and other forms of cybercrime have underscored the vulnerabilities present in digital ecosystems. Regardless of size, organizations across industries realize the need for proactive measures to safeguard their digital assets and sensitive information. Adopting security advisory services becomes a strategic imperative to effectively identify, mitigate, and manage potential security risks. Cybercriminals continually evolve their tactics, techniques, and procedures to bypass traditional security measures. The increasing sophistication of cyberattacks, including advanced persistent threats (APTs) and zero-day exploits, necessitates a proactive and adaptive approach to cybersecurity.
Security advisory services bring expertise in understanding and countering evolving threats, helping organizations stay ahead of cyber adversaries. Organizations often engage with a network of suppliers, vendors, and partners in an interconnected business ecosystem. While these third-party relationships enhance business operations, they also introduce potential security risks. The need for effective third-party risk management drives the adoption of security advisory services. These services assess the cybersecurity posture of third parties, identify vulnerabilities, and recommend measures to mitigate associated risks.
Mexico is undergoing digital transformation across industries. For example, as per International Trade Administration, a new payment system utilizing QR (Quick Response) codes was introduced by Banxico, SHCP, and CNBV in January 2019. The Digital Charge (Cobro Digital or CODI) system is part of the government's aim to boost financial inclusion and minimize reliance on cash. CODI creates new opportunities for cybercriminals, such as phishing attacks, malware targeting QR code readers, and data breaches within the CODI ecosystem in Mexico. This necessitates increased security measures and expertise to mitigate these risks, driving the demand for security advisory services in Mexico. It can assist organizations in Mexico in implementing effective cybersecurity measures to safeguard data, addressing the growing risks of data breaches and cyber threats. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Security Advisory Services Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $12,452.4 Million by 2030. The Canada market is experiencing a CAGR of 21.2% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 20.2% during (2023 - 2030).
Free Valuable Insights: The Security Advisory Services Market is Predict to reach USD 48.3 billion by 2030, at a CAGR of 19.3%
Based on Vertical, the market is segmented into BFSI, Government & Public Sector, Manufacturing, Healthcare, Energy & Utilities, IT & Telecom, and Others. Based on Enterprise Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises. Based on Service Type, the market is segmented into CISO Advisory & Support, Vulnerability Management, Incident Response, Security Risk Management, Compliance Management, and Penetration Testing. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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