The Global Security Advisory Services Market size is expected to reach $48.3 billion by 2030, rising at a market growth of 19.3% CAGR during the forecast period.
The IT & telecom segment often includes critical infrastructure that supports various industries and services. Thus, the IT & telecom segment acquired $2,367.1 million revenue in 2022. Security advisory services offer specialized expertise to protect critical IT & telecommunications infrastructure, ensuring the reliability and continuity of essential services.
The major strategies followed by the market participants are Partnerships & Collaborations as the key developmental strategy to keep pace with the changing demands of end users. For instance, In February 2024, Deloitte Touche Tohmatsu Limited came into partnership with ParaFlare to providing advanced active cyber defense capabilities, safeguarding Australian businesses and organizations against escalating cyber threats. Additionally, In November 2023, DXC Technology Company came into partnership with ServiceNow to catalyze innovation for shared clientele by integrating ServiceNow's advanced analytics and improved AI functionalities from its ITSM Pro and process mining solutions into DXC Platform X.
Based on the Analysis presented in the KBV Cardinal matrix; Cisco Systems Inc. is the forerunner in the Security Advisory Services Market. In January 2024 Cisco Systems Inc. came into collaboration with Kyndryl, an IT services company specializing in managing and modernizing enterprise IT infrastructure. Under this collaboration, both companies developed two novel security edge services, to assist clients in enhancing their security measures and taking proactive steps to address and manage cyber incidents. Companies such as Tata Consultancy Services Ltd., Rapid7, Inc., and KPMG International Limited are some of the key innovators in Security Advisory Services Market.
Transportation systems, including air traffic control, railways, and maritime operations, are integral components of critical infrastructure. It focus on securing communication networks, navigation systems, and operational technologies to prevent disruptions and ensure the safe functioning of transportation systems. Hence, growing protection of critical infrastructure has been a pivotal factor in driving the growth of the market.
The ITA estimates that the Australian cybersecurity industry will reach US$5.8 billion by 2024, from a value of US$5 billion in 2022. Cyber threats manifest through various vectors, including ransomware, phishing attacks, malware, and supply chain vulnerabilities. Therefore, the market is expanding significantly due to the escalating cybersecurity threat landscape.
The perceived high costs associated with engaging security advisory services can act as a deterrent for some organizations. This perception may be based on the initial investment required for comprehensive advisory solutions, ongoing service fees, and the belief that cybersecurity is expensive. SMEs may be more sensitive to cost concerns. Thus, high-cost concerns can slow down the growth of the market.
Drivers 
Restraints 
Opportunities 
Challenges On the basis of vertical, the market is divided into IT & Telecom, BFSI, healthcare, government & public sector, manufacturing, energy & utility, and others. In 2022, the BFSI segment dominated the market with 28% revenue share. It offers guidance on securing digital channels, implementing multi-factor authentication, and ensuring the secure transfer of sensitive financial information.
Based on enterprise size, the market is classified into small & medium enterprises and large enterprises. The small & medium enterprises segment acquired 27% revenue share in the market in 2022. It offers guidance on securing cloud infrastructure, applications, and data, enabling SMEs to leverage the benefits of cloud computing while maintaining a secure digital environment.
By service type, the market is categorized into vulnerability management, incident response, security risk management, compliance management, CISO advisory & support and penetration testing. The vulnerability management segment acquired 25% revenue share in the market in 2022. Vulnerability management within security advisory services enables organizations to proactively identify weaknesses in their IT systems, networks, and applications.
Free Valuable Insights: Global Security Advisory Services Market size to reach USD 48.3 billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating 38% revenue share. Advisory services focus on implementing measures to safeguard data privacy and confidentiality, helping organizations in North America build trust with their customers and stakeholders.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 11.9 Billion |
| Market size forecast in 2030 | USD 48.3 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 19.3% from 2023 to 2030 |
| Number of Pages | 289 |
| Number of Tables | 413 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Service Type, Enterprise Size, Vertical, Region |
| Country scope |
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| Companies Included | Cisco Systems Inc., DXC Technology Company, Deloitte Touche Tohmatsu Limited, The Sage Group plc, TATA Consultancy Services Ltd., Rapid7, Inc., Novacoast, Inc., Kudelski Group (Kudelski Security), eSentire Inc., KPMG International Limited |
By Vertical
By Enterprise Size
By Service Type
By Geography
This Market size is expected to reach $48.3 billion by 2030.
Increasing focus on data privacy and confidentiality are driving the Market in coming years, however, Adverse impact of high-cost concerns restraints the growth of the Market.
Cisco Systems Inc., DXC Technology Company, Deloitte Touche Tohmatsu Limited, The Sage Group plc, TATA Consultancy Services Ltd., Rapid7, Inc., Novacoast, Inc., Kudelski Group (Kudelski Security), eSentire Inc., KPMG International Limited
The expected CAGR of this Market is 19.3% from 2023 to 2030.
The Large Enterprises segment is leading the Market by Enterprise Size in 2022; there by, achieving a market value of $34.4 billion by 2030.
The Asia Pacific region dominated the Market, by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $12.9 Billion by 2030.
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