Deloitte remains the largest player in security consulting services market

19 October 2018 Authored by Consulting.us

Big Four accounting and consulting firm Deloitte is the largest firm, by revenue, in the security consulting services market – according to a Gartner report from earlier this year. Deloitte has maintained the top spot for six consecutive years.

Cybersecurity is on the minds of businesses and governments across the world. While emerging technologies like Big Data and analytics and the Internet of Things (IoT) hold the promise of revolutionizing businesses, they also necessitate the collection of huge swaths of data – including personal customer information. Safeguarding this digital information becomes a key priority for firms wishing to avoid the financial and reputational damage associated with data breaches. In the wake of constant high-profile hacks, consumers aren’t particularly trusting of firms safeguarding their data.

Nonetheless, firms can’t very well turn their backs on digitalization to avoid cyber risks. According to a recent report, more digitally mature firms see stronger revenue growth than less digitalized counterparts. So if firms can’t avoid digitalization, they need to create the most robust cybersecurity they can. To do so, many businesses turn to security consultants for cyber strategy and implementation.

The biggest dog in the pack is Deloitte, according to findings from a Gartner study titled ‘Market Share: Security Consulting Services, Worldwide, 2017.’ Deloitte is the globally top ranked firm – based on revenue – among Security Consulting Services companies. The consultancy has achieved the top revenue-based ranking for the sixth consecutive year.

Deloitte remains the largest player in security consulting services market

Deloitte Cyber Risk Services has more than 3,500 cyber professionals in the US serving thousands of global clients across 20 industry sectors. The business helps clients align cybersec investments with business strategy, creating improved threat awareness and strengthened protections against cyber incidents.

"This recognition from Gartner validates our strategic and holistic approach to cyber risk, which we started several years ago when we recognized that this risk was much more than an IT issue," said Chuck Saia, CEO of Deloitte Risk and Financial Advisory. "Since then, we've been taking this message to our clients, listening to their unique concerns to determine an appropriate cyber posture, and introducing innovative solutions to manage this complex threat as well as other risks tied to cyber like reputation and culture."

Drawing on global and cross-industry capabilities, Deloitte provides deep insights into cybersecurity issues connected to emerging trends like digital transformation, automation, and connected products and environments (IoT). The consultancy offers end-to-end services in cyber strategy, defense and response, data risk management, application security, infrastructure security, and identity management.

"Organizations are really just beginning to understand how profound and pervasive managing cyber risk actually is to their vitality," commented Ed Powers, U.S. managing principal and cyber risk services leader for Deloitte. "We support our clients in navigating the cyber impacts to their enterprise and in developing a risk strategy for success from the boardroom or the factory floor."

Overall, the security consulting service market grew from an estimated $17.4 billion in 2016 to $19 billion in 2017 – a growth rate of 9.2%.

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