Exactitude Consultancy Press Release: Global security advisory services market

The security advisory services market raised demands due to increasing cybercrime activities and threats.

The increasing number of cyber-attacks, theft of private data, and other cybercrime activities has been identified as a primary motivator for the adoption of Security Advisory Services across various companies. In order to combat cyber-attacks, businesses are employing security advisory services to identify and determine whether or not a breach exists in their system. The expansion of private business data, as well as trends in mobile devices, has raised the need for security advisory services.

Explore198 market data Tables spread through nearly 144 Pages and in-depth analysis on “Global Security Advisory Services Market by Type (Penetration Testing, Security Program Management, Vulnerability Management, Incident Response, Compliance Management, CISO Advisory and Support, Security Risk Management), Enterprise Size (SMEs, Large Enterprises), Industry Vertical (IT and Telecom, Healthcare, Energy and Power, Manufacturing, BFSI, Government and Public Sector, Others),  and Region, Global Trends and Forecast From 2022 To 2029” with Table of Contents

In the enterprise size segment, small and medium-sized enterprises dominate the security advisory services market due to an increase in data breaches.

According to company size, the small and medium-sized companies sector leads market growth and is expected to maintain its position in the upcoming years. This segment’s market growth is mostly related to an increase in data breaches on these companies, as well as an increase in the sophistication level of cyber-attacks.

In the industry vertical segment, BFSI is dominating due to rising fraud cases and expanding technology penetration & digital channels.

Due to the rising fraud activities in this industry throughout the world, the BFSI sector industry is expected to be the fastest growing segment in the Security Advisory Services Market. Due to the expanding technology penetration and digital channels, such as internet banking and mobile banking, which are becoming popular consumer options for financial services, banks must utilize security advisory services. Ongoing advances in the BFSI industry to preserve individual banking and financial data are likely to drive considerable expansion in the need for security advisory services, thereby boosting market growth.

Cryptography and fileless malware, which do not behave like other malicious programs but instead abuse core processes to mask their actions, are among the most prevalent malware threats that the banking sector faces. Because of the frequency of assaults, it is vital to have proper security to limit the risks associated with a data breach or other cyber-attack, such as data loss, inoperability, lost business, and recovery cost and time.

The market growth is restricted due to Due to budgetary constraints as the security cost is till high.

The cost of technology for strong and sophisticated security is still costly, and many businesses see financial limits as a barrier to the expansion of the security advice sector. Small and medium-sized businesses are encountering financial issues in order to purchase security advice services in order to maintain security measures. The high cost associated with security advice services is limiting industry growth.

The growing opportunities of the market are due to new technologies advancement and SMEs shifting their focus to cloud-based will dominate the market.

Due to the deployment of Industry 4.0, the worldwide market has entered an era of Security as a Service platform. As SMEs shift their focus to cloud services, cloud-based data management systems and service providers are expected to experience significant prospects for innovation and adoption of enhanced security solutions, fuelling the Security Advisory Services Market growth in the upcoming years. Additionally, expanding IT infrastructure and technical improvement will lead to the creation of new viruses, which will lead to the development of new security advisory services to mitigate the impact of such spyware, driving market expansion.

Covid-19 impacted the market by leading to higher adoption of cloud-based services due to raising the cyber risk.

The Covid-19 pandemic has led to higher adoption of cloud-based services such as edge computing and virtualization. The majority of these risks have become more severe as a result of the opportunities created by the COVID-19 epidemic. The COVID-19 pandemic has raised the stakes, raising cyber risk in the HPH Sector in proportion to the increased speed of activity as people increasingly work from home. Both existing cybersecurity concerns and those brought on by COVID-19 have had a substantial impact on the HPH Sector. Because of the increased vulnerability to cyber danger, the rise in remote working necessitates a higher emphasis on cybersecurity.

Key market players covered by the security advisory services market analysis are Cisco, DXC Technologies, KPMG, Deloitte, PwC, TCS, EY, Version, eSentire, Rapid7, Dimension Data, Kudelski Security, NTT Security, Sumeru, ePlus, Coalfire, Novacoast, Security Compass, Sage Data Security and Avalon Cyber.

Key Market Segments: Security Advisory Services Market

Security Advisory Services Market By Type, 2020-2029, (Usd Billion) (Thousand Units)

• Penetration Testing
• Security Program Management
• Vulnerability Management
• Incident Response
• Compliance Management
• Ciso Advisory And Security
• Security Risk Management

Security Advisory Services Market By Enterprise Size, 2020-2029, (Usd Billion) (Thousand Units)

• Smes
• Large Enterprises

Security Advisory Services Market By Industry Vertical, 2020-2029, (Usd Billion) (Thousand Units)

• It And Telecom
• Healthcare
• Energy And Power
• Manufacturing
• Bfsi
• Government And Public

Security Advisory Services Market By Region, 2020-2029, (Usd Billion) (Thousand Units)

• North America
• Asia Pacific
• Europe
• South America
• Middle East And Africa

Important Countries In All Regions Are Covered

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