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[August 17, 2014]
IT Security Consulting in Australia Industry Market Research Report Now Available from IBISWorld
(PR Web Via Acquire Media NewsEdge) Melbourne, Australia (PRWEB) August 18, 2014 Players in the IT Security Consulting industry in Australia have been thriving over the past five years, as information technology (IT) security has been an ongoing concern for all businesses. Over the past five years, Australian businesses' reliance on computing technology has increased, as new technologies have allowed them to increase productivity significantly. According to IBISWorld industry analyst Nick Flores, "the increasing accessibility of broadband internet means that businesses now engage in large levels of data transfer." This has helped facilitate the rise of 'big data', where many businesses have been able to gather large amounts of data, which may be sensitive. Furthermore, the introduction of smartphones has allowed much of this data to be accessed nearly anywhere.
These advancements have meant that new security concerns have arisen over the past five years, leading to increasing demand for IT security consultants. Larger IT companies have been capitalising on this demand by offering these services along with their other IT consulting services, acting as integrated IT service providers. "To provide a more specialised security offering, these players have also been acquiring smaller security firms," says Flores. Industry revenue is expected to grow at an annualised 5.7% in the five years through 2014-15. Revenue is forecast to increase by 6.2% in 2014-15, to reach $2.7 billion.
The IT Security Consulting industry exhibits a low level of market share concentration. Major players include IBM A/NZ Holdings Pty Limited and Hewlett-Packard Australia Pty Ltd. Over the next five years, technological advancement is expected to continue, supporting ongoing demand for the industry's services. However, larger businesses are anticipated to increasingly move their IT operations in-house, as they attempt to cut costs and bolster their information security by reducing the data exposure to outside parties. Technology manufacturers and software publishers are also expected to keep security concerns as a high priority, leading to a reduction in the need for basic IT security services. However, cyber-attacks will become more sophisticated, leading to the increased possibility of major attacks on corporations' networks.
For more information, visit IBISWorld's IT Security Consulting industry in Australia report page.
The industry offers managed IT security services. This includes firewall and intrusion prevention, security threat analysis and proactive security vulnerability and penetration testing. This also extends to incident preparation and response, including IT forensics.
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IBISWorld Industry Report Key Topics Industry Performance Executive Summary Key External Drivers Current Performance Industry Outlook Industry Life Cycle Products & Markets Supply Chain Products & Services Major Markets International Trade Business Locations Competitive Landscape Market Share Concentration Key Success Factors Cost Structure Benchmarks Basis of Competition Barriers to Entry Industry Globalisation Major Companies Operating Conditions Capital Intensity Technology & Systems Revenue Volatility Regulation & Policy Industry Assistance Key Statistics Industry Data Annual Change Key Ratios About IBISWorld Inc.
Recognised as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit
or call (03) 9655 3886.
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