Cracking the code: Recent high-profile cyberattacks have increased industry demand

Consumers and businesses have become increasingly reliant on computers over the past five years, as new technologies have increased productivity. The increasing accessibility of broadband internet over the past five years has also allowed businesses and consumers to transfer larger volumes of data. The rising popularity of cloud computing has changed how businesses access and use data, as data is now often stored in off-site cloud storage centres that can be accessed anywhere in the world. This trend has enabled the rise of big data, which is where businesses analyse large amounts of personal and proprietary data for trends and more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24
Market Share of Companies

Industry Threats & Opportunities

  • Rising concern about cybercrime has driven strong industry growth over the past five years
  • High-profile security breaches over the period have demonstrated the need for cybersecurity services
  • The NBN will encourage businesses to take up cloud computing facilities, boosting industry demand
  • Industry Report - Industry Key Buyers Chapter

    Concentration in the IT Security Consulting industry is low, with the industry's largest four companies expected to account for less than 40% of revenue in 2018-19. Large multinational IT consultancies do exist, often catering to significant market segments such as large corporations and government entities. However, the industry is highly fragmented due to the variety of services available and the ability of smaller consultancies to provide their services to smaller businesses without being threatened by larger players. The level of concentration has increased slightly over the past five years, as larger players attempt to bring more services under their umbrella by acquiring smaller, specialty firms...purchase to read more.

    Additional Insights for the IT Security Consulting Industry

    IBISWorld has determined the most important Key Success Factors for the IT Security Consulting are:

  • Ability to change and adapt operations rapidly in line with market demand
  • Highly trained workforce
  • Access to the latest available and most efficient technology and techniques
  • IBISWorld analysts also discuss how external factors such as Capital expenditure on computer software and Demand from computer system design services in the IT Security Consulting industry impact industry performance..

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    What's in this report

    What is the IT Security Consulting Industry?

    Industry operators provide managed IT security services, including firewall and intrusion prevention, security threat analysis and proactive security vulnerability and penetration testing. The industry also provides incident preparation and response, including IT forensics.

    Industry Products
  • Data security services
  • Threat assessment services
  • Managed security services
  • Other services
  • Industry Activities
  • IT security threat assessment
  • IT security management
  • IT security consulting
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Capital expenditure on computer software
  • Demand from computer system design services
  • Internet subscribers
  • Number of businesses

  • Current Performance
  • New platforms
  • Security concerns
  • Service providers
  • Chart: Revenue Growth

  • Industry Outlook
  • Heightened awareness
  • Cybercrime trends
  • New technology
  • Industry structure
  • Table: IT Security Consulting Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - IT Security Consulting Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Information Media and Telecommunications
  • Financial and Insurance Services
  • Professional, Scientific and Technical Services
  • Public Administration and Safety

  • Key Selling Industries
  • Computer and Software Retailing
  • Data Processing and Web Hosting Services
  • Internet Service Providers

  • Products & Services
  • Managed security services
  • Data security services
  • Threat assessment services
  • Other services
  • Chart: IT Security Consulting Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Service providers
  • Other markets
  • Government departments
  • Retailers and wholesalers
  • Utilities and infrastructure companies
  • Manufacturers
  • Chart: Major Market Segmentation for the IT Security Consulting Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs IT Security Consulting

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the IT Security Consulting Industry

  • Industry Globalization
    IBM A/NZ Holdings Pty Limited,
  • Table: IBM A/NZ Holdings Pty Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the IT Security Consulting Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the IT Security Consulting Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Cyber Espionage
  • The act of obtaining undisclosed information or data via electronic means without the permission of the owner.
  • Endpoint Security
  • A form of network protection that requires connected devices to be authenticated before access is granted.
  • Malware
  • Malicious software designed to exploit weaknesses in a computer system to either inflict harm or allow unauthorised access.
  • Ransomware
  • Malicious software designed to block access to a computer system until a specified sum is paid to the attacker.
  • Security-As-A-Service (Secaas)
  • An outsourcing model for IT security management, where service providers integrate their security services into a corporate infrastructure on a subscription basis
  • Trojan Horse
  • A self-replicating form of malicious software that is disguised as a legitimate form of computer data while secretly granting illegitimate third-party access.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s IT Security Consulting market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on IT Security Consulting:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The IT Security Consulting market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on IT Security Consulting, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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