The Market Includes a Large Number of Vendors Providing Information Security Consulting Services, for Instance, Ernst & Young (U.K.), IBM Corporation
Information security consulting is a professional service, through which security vendors leverage their high-value expertise, advisors, and consultants to provide security guidance to clients and mitigate existing, as well as, potential cyber threats in client’s organizations. The service ensures protection of the organization’s critical IT infrastructure and confidential information. The primary objective of deploying information security consulting services by organizations around the globe, is to get proactive security from advanced persistent threats, zero-day attacks, and other cyber threats. Companies require core competency in cyber security, security infrastructure, and visualization to settle on information-driven security decisions.
The market includes a large number of vendors providing information security consulting services, for instance, Ernst & Young (U.K.), IBM Corporation (U.S.), Accenture plc (Ireland), Atos SE (France), Deloitte (U.K.), KPMG (U.K.), PwC (U.K.), BAE Systems plc (U.K.), Hewlett Packard Enterprise (U.S.), and Wipro Limited (India). Players in this business sector have embraced different strategies to extend their worldwide presence and expand their market share. Partnerships & collaborations and new service launches were the key strategies adopted by industry players to accomplish development in the market. Apart from these agreements, mergers & acquisitions and business expansions were some of the other significant strategies embraced by the market players in the information security consulting market.
Ernst & Young (EY) is amongst the leading providers of consulting services to a variety of industry verticals across the globe. The organization has a noteworthy presence in a large number of countries and primarily serves the regions of North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. EY’s long-term strategy leans more towards organic growth, where it hopes to launch new security consulting services and expand its geographic presence. With the launch of analytics-based services named endpoint monitoring, network monitoring, threat intelligence, advanced SIEM, data analytics & visualization, incident response service management, and expansion in APAC by opening four Centers of Excellence (CoE), the company delivered an advanced services portfolio and expanded its boundaries.
IBM Corporation is another such prominent player in the market. The fundamental objective of IBM is to meet every industry client requirement and in addition, provide new advancements in information security consulting. The organization serves clients across different industries, for example, IT, healthcare, life sciences, government, telecom, automobile, manufacturing, Fast Moving Consumer Goods (FMCG), chemicals & petroleum, electronics, energy & power, media & entertainment, mining, retail, Banking, Financial Services & Insurance (BFSI), travel & transportation, and education. The company has its presence in North America, Europe, APAC, MEA, and Latin America. The organization follows both organic as well as inorganic growth strategies for expansion of its market share. For instance, in August 2016, the company launched a group of cyber security professionals and ethical hackers named IBM X-Force Red that helps clients proactively mitigate security risks. Moreover, in February 2016, the company formed a strategic threat prevention alliance with Checkpoint Software Technologies Ltd. and increased investments in consulting and managed security services.
The global information security consulting market is expected to grow from USD 16.12 billion in 2016 to USD 26.15 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.2% from 2016 to 2021.
Related Reports:
Information Security Consulting Market by Security Type (Network Security, Application Security, Database Security, and Endpoint Security), Organization Size (SMES and Large Enterprises), Vertical, and Region - Global Forecast to 2021
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