Security Advisory Services Market - Introduction
- Security advisory service providers offer advisory services to reduce risk, and implement strategies to provide security for the entire corporate operation
- Security advisory companies provide support services to their customers to address IT security issues related to various business processes
- Security advisory companies provide the advisory services along with security risk management, intelligent security operations, and infrastructure & endpoint security operations. Security advisory services suggest & implement operation strategies to enhance business security.
- Risk and compliance management advisory services cover cyber security and compliance security services required by businesses to protect enterprise data systems from cyber-attacks
- This end to end advisory service helps enterprises to build agile and rigorous data protection structures. Security advisory services are majorly used in IT and telecom, data center companies, and banking operations to provide security to their managed data post any business change or new strategy implementation
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Key Drivers of the Security Advisory Services Market
- Increasing demand for strong security regulations and compliance requirements with periodic audits is expected to drive the security advisory services market. Enterprises are increasingly demanding cloud solutions to enhance the performance of process execution. Technological advancement in enterprise networks require security advisory services to enable the enterprises to meet security standards and policies. Security advisory services also enable enterprises to provide end to end security in all types of business operations, which in turn is estimated to boost the market during the forecast period.
- Adoption of new technology and business strategies is anticipated to create business opportunity for security advisory service providers to maintain the security compliance in enterprises
High cost associated with security advisory services expected to hinder the market
- Companies are investing huge amounts on security solutions due to increasing number of cyber-attacks in the last few years. Small & medium size enterprises are unable to afford the security advisory services to maintain security standards. High cost associated with advisory services is one of the major retraining factors of the security advisory services market.
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North America to hold major share of the global security advisory services market
- North America is expected to hold prominent share of the security advisory services market due to increasing government regulations related to enterprise data security and growing investment in new technologies and network security in business processes majorly in IT sectors in the region
- Telecom, IT, and data service providing companies in North America are increasingly adopting security advisory services. Security advisory services are used to protect and improve the performance of enterprise network security and reduce cyber-attacks on enterprise database. This in turn is estimated to boost the demand for security advisory services during the forecast period.
- The security advisory services market in Asia Pacific is projected to expand at a prominent CAGR during the forecast period, due to increasing IT companies and data centers in the region. Additionally, companies are expanding their geographical presence to capture more market share in Asia Pacific.
Key players operating in the global security advisory services market
- DXC Technology Company
DXC Technology Company is a global security advisory firm with presence in 70 countries worldwide. The company offers security advisory services to more than 6,000 public and private sector clients. The company offers analytics, consulting, application services, business process services, and services in enterprise security. It offers the security advisory services to healthcare, banking & capital market, consumer & retail, automotive, IT, and telecommunication industries.
- Dimension Data Holdings plc.
Dimension Data Holdings plc. was founded in 1983 with headquarters in Johannesburg, South Africa. It is a leading company offering information communication technology solutions. The company offers consulting services, cloud services, managed services, support services, and technical services to different industries around the globe. Dimension Data Holdings plc. operates across 47 countries with manpower of over 28,000.
Other key players operating in the global security advisory services market include Cisco Systems, Inc., KPMG International, Deloitte Touche Tohmatsu Limited, Tata Consultancy Services Limited, and Rapid7, Inc.
Global Security Advisory Services Market: Research Scope
Global Security Advisory Services Market, by Service Type
- Vulnerability Management
- Security Risk
- Penetration Testing
- Compliance Management
- Others (CISCO Advisory and Support, Incident Response)
Global Security Advisory Services Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Security Advisory Services Market, by End-user
- IT & Telecom
- Military and Defense
- Energy and Power
- Others (Healthcare, Retail)
Global Security Advisory Services Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.