According to the research report titled ‘Security Advisory Services Market to 2027 - Global Analysis and Forecasts By Service Type; Enterprise Size; Industry Vertical’, available with Market Study Report, global security advisory services market was valued at USD 8.85 billion in 2018 and is anticipated to showcase a y-o-y growth rate of 17.7% during the study duration, subsequently accounting for USD 37.86 billion by the year 2027.
 

Lack of awareness regarding cybersecurity has left companies vulnerable to security threats, which in turn is a major factor fueling the demand for security advisory services across the globe. These services allow security operation center to provide actional feedback to operators, which further helps analysts to focus on vital elements during investigation.
 

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Increased pervasiveness and sophistication of cybercrimes have impelled the demand for efficient security advisory services in order to eliminate the security threats as well as the risks, which in turn is further aiding the market expansion. Focus towards maintaining important data is also stimulating the industry outlook.
 

As per service type, the market is classified into incident response, CISO advisory & support, compliance management, security risk management, security program management, vulnerability management, and penetration testing.
 

In terms of enterprise size, global security advisory services market is bifurcated into small & medium-sized enterprises, and large enterprises. Based on the type of industry the market is classified into manufacturing, energy & power, healthcare, IT & telecom, government & public sector, BFSI and others.
 

Regionally, North America currently accounts for the largest market share, primarily driven by high concentration of developed economies including Canada and the U.S. Rising penetration of automation and digital services have left companies susceptible to cyber-attacks as well as data-breaches. Growing occurrences of cybercrimes in BFSI, telecom and IT sector have resulted in high investments in cyber security solutions across NA.  Apart from this, rising adoption of technologies such as IoT (Internet of Things), AI (Artificial Intelligence), cloud computing, and predictive analysis are favoring the market outlook in North America.
 

On the other hand, Asia-Pacific security advisory services industry is also predicted to expand significantly during the forecast period. Increasing penetration of connected devices and rapid digitization of various services and processes are facilitating the business scenario in Asia-Pacific.
 

Also, security advisory services market in South America and Middle East & Africa is slated to record commendable growth in the ensuing years, owing to favorable regulatory scenario pertaining to use of advanced technologies.
 

Dimension Data, eSentire Inc., Tata Consultancy Services Ltd., Cisco Systems Inc., Verizon Communications Inc., DXC Technology Company, KMPG International Cooperative, PricewaterhouseCoopers LLP, Ernst & Young Global Ltd., and Deloitte Touche Tohmatsu Ltd. are the key participants in worldwide security advisory services market.