Melbourne, Australia (PRWEB) August 18, 2014
Players in the IT Security Consulting industry in Australia have been thriving over the past five years, as information technology (IT) security has been an ongoing concern for all businesses. Over the past five years, Australian businesses' reliance on computing technology has increased, as new technologies have allowed them to increase productivity significantly. According to IBISWorld industry analyst Nick Flores, “the increasing accessibility of broadband internet means that businesses now engage in large levels of data transfer.” This has helped facilitate the rise of ‘big data', where many businesses have been able to gather large amounts of data, which may be sensitive. Furthermore, the introduction of smartphones has allowed much of this data to be accessed nearly anywhere.
These advancements have meant that new security concerns have arisen over the past five years, leading to increasing demand for IT security consultants. Larger IT companies have been capitalising on this demand by offering these services along with their other IT consulting services, acting as integrated IT service providers. “To provide a more specialised security offering, these players have also been acquiring smaller security firms,” says Flores. Industry revenue is expected to grow at an annualised 5.7% in the five years through 2014-15. Revenue is forecast to increase by 6.2% in 2014-15, to reach $2.7 billion.
The IT Security Consulting industry exhibits a low level of market share concentration. Major players include IBM A/NZ Holdings Pty Limited and Hewlett-Packard Australia Pty Ltd. Over the next five years, technological advancement is expected to continue, supporting ongoing demand for the industry's services. However, larger businesses are anticipated to increasingly move their IT operations in-house, as they attempt to cut costs and bolster their information security by reducing the data exposure to outside parties. Technology manufacturers and software publishers are also expected to keep security concerns as a high priority, leading to a reduction in the need for basic IT security services. However, cyber-attacks will become more sophisticated, leading to the increased possibility of major attacks on corporations' networks.
For more information, visit IBISWorld’s IT Security Consulting industry in Australia report page.
The industry offers managed IT security services. This includes firewall and intrusion prevention, security threat analysis and proactive security vulnerability and penetration testing. This also extends to incident preparation and response, including IT forensics.
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IBISWorld Industry Report Key Topics
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
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