According to Transparency Market Research (TMR) analysts, the cyber security consulting market would exceed US$ 28.22 billion by 2031. Businesses in the BFSI and healthcare sectors are realising the importance of a multi-layered approach for security of their IT architecture.
The TMR study on the cyber security consulting market noted that during the forecast period (2021-2031), the increased uptake of Identity Access Management (IAM) systems is projected to spur incremental opportunities for providers.
Businesses, particularly SMEs, the demand for information security consulting services is growing. The rising number of cybersecurity incidents year after year is a key pivot. Cyberattacks and data breaches increased dramatically in just a few months after the COVID-19 outbreak in 2020. According to TMR analysts researching the cyber security consulting market, an unmet demand for solutions for securing remote access has created a lucrative market.