Cyber Security Consulting Market Report 2025 (Global Edition)

Market Dynamics of Cyber Security Consulting Market:

Key Drivers of Cyber Security Consulting Market

• Cyber Threats and cyberattacks are driving the cyber-Security consulting the market's rapid growth.

The growing threat landscape, which includes data breaches and ransomware assaults, is a major factor in the rise of cybersecurity consulting services. The Internet is becoming more and more popular across all industries as a result of digitization and technical improvements. The likelihood of cyberattacks rises with increased Internet usage. Cyberattacks are a major global threat that result in the loss of personal, corporate, and governmental data. Businesses are always under pressure to make sure their digital assets are safe from internet attacks, and cybersecurity threats are getting more complex. Consulting on cybersecurity is essential for protecting your company from possible dangers and lowering the likelihood of cyberattacks.Hence, These consulting services give companies the knowledge and resources they need to spot security flaws, create strong defences against online attacks, and keep their systems safe. Organisations can discover potential vulnerabilities and threats to their digital assets, such as sensitive information, financial data, and intellectual property, by conducting cybersecurity risk assessments, which is a crucial procedure. For Instance, The cybersecurity company Kaspersky issued a warning, stating that similar cyberthreats are likely to come India's way. The country saw over 200,000 ransomware attacks in 2023. Large ransomware gangs like Fonix and LockBit attacked companies in India and throughout the world in industries like manufacturing, retail, healthcare, agriculture, and media. (Source:https://www.businesstoday.in/technology/news/story/new-ransomware-attacks-still-keeping-indian-cyberspace-at-risk-kaspersky-424512-2024-04-05) Cybersecurity experts detect risks to a company's computer systems and networks, analyse security concerns, determine risk, and put remedies into place. In an IT environment that is evolving quickly, they create layers of protection and deal with a variety of issues while evaluating security systems. Ransomware, phishing, and hacking are examples of cybersecurity threats that have grown in sophistication along with technology. Attacks on servers known as total distributed denial of service (DDoS) cause disruptions to user access. Thus, it is essential to identify cyber threats and use strong cyber security consulting to guard against such breaches in order to implement a system with more robust security features.

• Increase in the need for security in BFSI Sector, drives the market for Cyber Security Consulting Market.

Following demonetization, digital payments have become more popular than ever before, underscoring the necessity of security policies and programmes for India's banking, financial services, and insurance (BFSI) industry. While financial institutions worldwide are concentrating on improving their programmes to prevent cyber threats, BFSI institutions continue to fail to recognise the significance and consequences of cyber security. BFSI companies are extremely concerned about regular cyberattacks such as password compromises, data theft, and security breaches. The development of new skilled cybercriminals and cybercrime use tactics to undermine the protective security measures implemented by BFSI organisations as a result of technological advancements. This indicates that the current cyber security strategies in place are insufficient to secure the gaps in the business, the market is expected to grow due to this. For Instance, Futurism Technologies is dedicated to assisting BFSI organisations in creating digital infrastructures that are safe, dependable, and compliant—in other words, systems that protect client data and uphold confidence. To assist BFSI organisations in identifying vulnerabilities, assessing risks, and ensuring compliance with industry rules, we offer thorough security evaluations and audits.Moreover, the consumer data should be encrypted as it can be changed, stolen, or misused. This method prevents illegal access to sensitive data. Along with this backing up regularly is a must for the protection of data so that it can be prevented from corruption or data loss.(Source:https://www.futurismtechnologies.com/cyber-security-industry/bfsi/) Hence, the need for cyber security consulting in the BFSI sector is very important and need of the hour, which drives the market.

Market Overview: Key Restraints of Cyber Security Consulting Market

• The infrastructure gap and high initial investment hamper the growth of the cyber security consulting market.

A major impediment to market expansion may be the high upfront costs associated with the creation and implementation of Cyber Security Consulting solutions, particularly for large-scale undertakings. For Instance, According to the survey, the most costly services might cost up to $250 per user per month, while the least expensive ones can cost as little as $64 per month. The number of employees you have and the amount of digital and physical assets you need to secure have a dynamic impact on pricing. More people, computers, and digital assets mean that businesses will be spending a lot more money every month. The most common method for determining MSSP rates is to employ a specific model, which is based on the number of devices, users, or other components. The number of digital and physical assets one needs to secure, as well as the size of your workforce, have a dynamic impact on pricing. (Source: https://cybersecop.com/managed-security-pricing/pricing#:~:text=The%20least%20expensive%20services%20can,assets%20you%20need%20to%20secure.) One potential obstacle to the integration of Cyber Security Consulting solutions into current energy systems is the requirement for large infrastructure investments, such as storage facilities and grid upgrades.

What was the Impact of COVID-19 on the Cyber Security Consulting Market?

The COVID-19 had presented obstacles for enterprises as they adjust to a work environment where telecommuting has turned into the new normal. Businesses were moving more quickly towards digital transformation, and cybersecurity is becoming a top priority. Ignoring cybersecurity threats could have serious consequences for operations, legality, reputation, and compliance. Technology has therefore taken on even more significance in both our personal and professional life. For Instance, In June 2020, Swissinfo.ch published data from the National Cyber Security Centre (NCSC) indicating that, in contrast to the average of 100–150, there were 350 recorded instances of cyberattacks (phishing, fake websites, direct attacks on businesses, etc.) in Switzerland in April. The rise in working from home and the coronavirus pandemic were considered to be important factors in this surge, as people who work from home do not benefit from the same level of built-in security or deterrent measures that come with a workplace (such as internet security). (Source:https://www.swissinfo.ch/eng/sci-tech/jump-in-cyber-attacks-during-covid-19-confinement/45818794)Hence, the consulting was increased in the period of COVID-19 as the cyber threats were increased and the awareness of security was risen. 
 

Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product positioning and will assist you to understand opportunities and threats around the globe.

The Global Cyber Security Consulting Market is witnessing significant growth in the near future.

In 2023, the Strategic Planning segment accounted for noticeable share of global Cyber Security Consulting Market and is projected to experience significant growth in the near future.

The BFSI segment is expected to expand at the significant CAGR retaining position throughout the forecast period.

Some of the key companies Deloitte, KPMG and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.

Frequently Asked Questions