From: RegTech Analyst
New research estimated that the global security advisory services market is projected to grow from $9.14bn in 2019 to reach $29.16bn by 2025.
The research from ResearchAndMarkets.com estimates that the growth will continue at a compound annual growth rate of 21.33%.
The growth of the market is driven by growing adoption of information communication, technology, data encryption, and cybersecurity solutions by different end-user industries.
These industries include BFSI, communication and technology, automobile among others and they are doing this to achieve scalability, protect identities and transactions, reduce operational costs, decrease uptime and encrypt the sensitive data generated and protection of the digital signatures in order to prevent data breaches is increasing the demand for effective encryption solutions.
Moreover, the North American region is estimated to keep a huge share of the market over the next five years. This is due to rising tide of cybercrimes and cyber-attacks exploitation of the user data being generated due to the rising usage of internet services.
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