Information Security Consulting Services (Global Market)

2023: The volume of the global information security consulting market for the year grew by 8% to $18.32 billion

In 2023, costs in the global information security consulting services market reached $18.32 billion. For comparison, a year earlier, the corresponding expenses were estimated at $16.91 billion. Growth was recorded at 8%, as stated in the Market Research Future review, published in mid-December 2024.

The key driver of the industry in question is an increase in the intensity and complexity of cyber attacks. Companies around the world are forced to protect their IT infrastructure from ransomware, spyware, and other malware. Attackers use new tools to organize intrusions, including artificial intelligence tools. In addition, the number of incidents related to data leaks is increasing. At the same time, small and medium-sized enterprises often lack experience in the field of cybersecurity. All this forces companies to resort to information security consulting services to improve their protection.

The introduction of cloud technologies also has a stimulating impact on the market. As organizations move their operations to the cloud, they face new security challenges that require specific knowledge and skills. Often, to protect data stored and processed on such platforms, it is necessary to develop a personal strategy. In such a situation, information security consulting plays an important role in assessing potential risks, creating reliable security protocols and implementing the most effective protective tools. The growing dependence on cloud services is forcing organizations to increasingly resort to the help of third-party specialists.

Companies also need to comply with strict data privacy and security requirements. Otherwise, they risk facing hefty fines and legal consequences. Consulting firms help with these issues. As businesses recognize the possible financial losses and reputational risks associated with cyber threats, demand for advisory services continues to grow steadily.

The authors of the study identify four categories of information security consulting services: risk assessment, compliance, incident response and vulnerability management. In 2023, the costs in the first of these areas amounted to approximately $5 billion, in the second - $4.5 billion. Another $4 billion was brought by services related to incident response. Vulnerability management accounted for $4.82 billion. The key players in the industry in question are:

• McKinsey and Company;
• IBM;
• Cisco Systems;
• Verizon;
• PwC;
• Ernst & Young (EY);
• Capgemini;
• Trustwave;
• Booz Allen Hamilton;
• Deloitte;
• Hewlett Packard Enterprise;
• Accenture;
• Bain and Company;
• Northrop Grumman;
• KPMG.

The leader in terms of geography in 2023 was North America with an estimate of $7.35 billion: the dominance of the region is explained by the developed IT infrastructure, the active digital transformation of local organizations and the presence of many large companies. In second place is Europe with $4.5 billion, where awareness of data breaches is growing. The Asia-Pacific region closes the top three with spending at $4 billion. The contribution of South America amounted to $1.25 billion, the Middle East and Africa - $1.22 billion.

In 2024, expenses in the information security consulting segment are estimated at $19.84 billion. Market Research Future analysts believe that in the future, the CAGR will be 8.31%. As a result, by 2032, costs on a global scale could increase to $37.57 billion.^[1]

2016: Gartner Data

In 2016, the global market for consulting services in the field of information security (IS) grew by 8%, according to the analytical company Gartner. Experts also named the largest providers of such services.

According to Gartner estimates, in 2016, sales of consulting information security services on a global scale amounted to $17.8 billion against $16.5 billion in 2016. The top ten companies accounted for about 63.5% of revenues.

Gartner published the results of a study of the global market for consulting services in the field of information security

According to analysts, information security (information security) consulting services help companies evaluate, analyze and improve business efficiency, IT operations and technological strategy through the correct work of risk and cyber defense management.

The most on consulting information security services in 2016 earned Deloitte - $2.86 billion, which is 14% more than a year ago and corresponds to 16% in the total market volume. The company is actively expanding its business in the field, cyber security including through acquisitions. In 2016 , I-Analysis and Integrity-Paahi Solutions were purchased.

The second place in terms of income in the market under consideration was taken by EY, whose business showed an increase of 8.2% to $2.04 billion. To develop its information security business, the company hired former FireEye technical director Chad Holmes, and also launched the Advanced Cyber ​ ​ Defense Center in Dallas for $10 million.

The top three leaders in the consulting information security services market also included PwC with a turnover of $1.95 billion in 2016 (+ 17.8% compared to 2015). The top ten suppliers by revenue are as follows^[2]

1. Deloitte
2. EY
3. PwC

# KPMG # IBM # Accenture

1. Booz Allen Hamilton

# HPE

1. Optiv Security

# BAE Systems

Notes