IT Security Consulting in the US - Industry Market Research Report

Locked Down: Industry Demand May US Subdued Following the Easing of Pandemic-Related Restrictions

IT Security Consulting in the US

The increasing use of mobile devices and cloud servers to store sensitive data and the rise in technologically sophisticated cyber criminals threatening to steal that data have accelerated demand for online security. Benefiting from the increasing adoption of e-commerce, social networking and cloud computing, IT security consulting revenue has expanded at a CAGR of 3.7% to $16.9 billion over the past five years. Increased online usage amid the COVID-19 pandemic has fueled this growth. Additionally, industry demand will remain high throughout 2023, as the growing prevalence of high-profile cybersecurity attacks and the risks associated with potential data breaches will continue to propel the industry forward. Due to this, revenue will surge 3.6% in 2023 alone. Industry profit will also rise, as revenue growth has outpaced the cost of labor.

The IT Security Consulting 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.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.