IT Security Consulting in the US Industry Market Research Report from IBISWorld Has Been Updated

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As downstream markets, such as banking and financial services, insurance, health, telecommunications and government agencies, continue to fear high-profile, reputation-threatening breaches, industry revenue is expected to continue growing over the five years to 2019. For this reason, industry research firm IBISWorld has updated a report on the IT Security Consulting industry in its growing industry report collection.

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

The increasing use of mobile devices and cloud servers to store sensitive data and the subsequent rise in technologically sophisticated cyber criminals threatening to steal that data have accelerated growth in the IT Security Consulting industry. Benefitting from the increasing adoption of e-commerce, m-commerce, social networking and cloud computing and a variety of high-profile data breaches, industry revenue is expected to grow over the five years to 2014. Recently, companies such as Sony, Target and JPMorgan have stressed data security to their customers, further contributing to industry growth over the past five years.

Over the past five years, the increasing number of broadband connections and rapid growth in the number of mobile connections have contributed to the rising demand for IT security. According to IBISWorld Industry Analyst Sarah Kahn, “IT security consultants have benefited from these trends as they increase the amount of data stored in cloud servers that require protection.” Furthermore, the rise of cloud computing and software as a service (SaaS), a model of software deployment in which a provider licenses an application to customers for use as a service on demand, have caused an increasing percentage of services to be conducted online. As more services are being conducted online, industry operators are benefitting from a rising number of security breaches. Additionally, government agencies, a major market for industry services, have also shown their vulnerability to security breaches, as anticensorship organization WikiLeaks and former Booz Allen Hamilton consultant Edward Snowden have leaked classified information to the public.

“As downstream markets, such as banking and financial services, insurance, health, telecommunications and government agencies, continue to fear high-profile, reputation-threatening breaches, industry revenue is expected to continue growing over the five years to 2019,” says Kahn. Government agencies face security issues with potentially high stakes and are expected to increase their IT security investments over the next five years.

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 firewalls, intrusion prevention, security threat analysis, proactive security vulnerability and penetration testing and incident preparation and response, which includes 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
IBISWorld
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