The global risk and cyber security consulting services market it expected to grow by 8% this year to pass £80bn in revenues for the first time.

This is amongst the findings of research carried out by Source Global Research, which also predicts that the continued strong growth in cyber security services will lead to a £24bn market in 2025.

The advent of GenAI and its profound implications for companies, both positive and negative, is creating high demand for cyber security services, it added, with growth in 2025 forecast to climb to 10%.

The overall picture for cyber security consultants remains positive, with nine in 10 companies surveyed expecting their use of cyber security consultants to increase in the next 12 to 18 months, with around a third expecting this increase to be significant. Four in 10 companies say that cyber security has become a more important topic to them due to a recent data breach or other cyber security issue, with a similar number saying that new regulations are forcing them to take a more serious approach.

Dane Albertelli, senior research analyst from Source Global Research, said: “Going into 2025, we forecast cyber security will grow by 10%, to once more see the strongest growth in this market. The sustained threat of cyber attacks shows no sign of abating and the fast pace of technological advancement means new threats are constantly emerging.”

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