IT Security Consulting in the US Industry Market Research Report Now Available from IBISWorld

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As more services are conducted online and as cloud computing becomes standard for a wide array of activities, demand for the IT Security Consulting industry grows. Because the internet is becoming an increasing presence for businesses, the government and consumers alike, the need to secure private information has been constant, ensuring steady and quick revenue growth for the industry even during the recession. High-profile security breaches and the ever-evolving nature of sophisticated viruses will lead to industry growth into the coming years. For these reasons, industry research firm IBISWorld has added a report on the IT Security Consulting industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

High-profile security breaches have drawn public attention to the industry

In the five years to 2012, IBISWorld estimates that revenue for the IT Security Consulting industry has increased at an annualized rate of 10.9% to $4.9 billion. “During that time,” says IBISWorld industry analyst Kevin Culbert, “industry operators have benefited from the increasing adoption of e-commerce, growth in mobile internet access and a variety high-profile data breaches.” Companies such as Sony, Zappos and LinkedIn have been victims of recent cyberattacks and have thrust IT security into the spotlight. This factor has contributed to industry growth over the past five years, including expected revenue growth of 9.8% in 2012.

Over the past five years, an increasing number of broadband connections, coupled with exponential growth in the number of mobile connections, has contributed to the rising demand for IT security. IT security consultants have benefited from these trends because they cause more data to be stored in cloud servers. Furthermore, the rise of cloud computing and software as a service (SaaS) have caused an increasing percentage of services to be conducted online. In 2012, IBISWorld estimates that 9.4% of services will be conducted online, up from 5.9% in 2007. “As more services are completed online, industry operators have benefited from a rising number of security breaches,” says Culbert. This has ultimately contributed to increasing demand, which has caused industry profit margins to rise in spite of a rising number of industry operators. IBISWorld estimates that the number of firms operating in the IT Security Consulting industry has increased rapidly in the five years to 2012.

Industry operators have also experienced growth as a result of high-profile data breaches. Companies face the constant danger of hacking from ever-evolving threats. As soon as a computer virus is discovered, it might already have numerous variations, each requiring a different security patch. Government agencies also face similar issues, albeit with potentially higher stakes. Indeed, the world has recently entered the era of cyberwarfare. The Stuxnet virus, which targeted Iranian nuclear facilities, is proof that IT security is becoming increasingly important for government agencies around the world. Public sector demand is expected to grow in the five years to 2017, contributing to healthy revenue growth during that time. For more information, visit IBISWorld’s IT Security Consulting in the US industry report page.

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IBISWorld industry Report Key Topics

This industry offers managed IT security services, such as firewall and intrusion prevention, security threat analysis, proactive security vulnerability and penetration testing and incident preparation and response, including IT forensics.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
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