Booz Allen Leads New Frost & Sullivan Security Report
Booz Allen Hamilton (NYSE: BAH) has been recognized by Frost & Sullivan as the leader in the Managed and Professional Security Services market in the Americas for the third consecutive year. Booz Allen holds a significant market share of 10.7% in a sector projected to grow from $10.88 billion in 2019 to $18.81 billion by 2024, with an annual growth rate of 11.6%. The firm's expertise in cybersecurity and its role as a trusted partner for federal and defense agencies contribute to its competitive edge in addressing escalating cyber threats.
- Booz Allen holds the largest market share in Managed and Professional Security Services at 10.7%.
- The security services market is projected to grow at an annual rate of 11.6%, reaching $18.81 billion by 2024.
- Recognition for three consecutive years emphasizes Booz Allen's strength in cybersecurity.
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Frost & Sullivan, a leading market research and strategy firm, ranked Booz Allen Hamilton (NYSE: BAH) as holding the largest single market share in Managed and Professional Security Services in the Americas in its annual report, Managed and Professional Security Services Market in the Americas, Forecast to 2024. Key contributors to Booz Allen’s ongoing leadership in a highly competitive market are its established role as a trusted partner to U.S. federal and defense agencies and its proven ability to deliver intelligence-grade cybersecurity tradecraft at scale to large enterprises. This is the third consecutive year Frost & Sullivan has recognized Booz Allen’s cybersecurity capabilities and leading market position.
According to Frost & Sullivan’s report, revenue in the Americas in the managed and professional security services market reached
“Organizations in both the public and private sector need a trusted partner to meet today’s evolving and persistent cyber threats,” said Brad Medairy, executive vice president and leader of the firm’s cyber and engineering practice. “Our comprehensive approach that combines advanced technologies, threat-hunting capabilities, and intelligence-grade tradecraft makes us uniquely equipped to help clients prepare for and mitigate even the most daunting cyber challenges.”
As one of the largest cybersecurity providers, Booz Allen's diverse client portfolio spans nearly every defense and federal agency, as well as Fortune 100 and Global 2000 companies across industries including financial services, health and life sciences, energy, transportation, and manufacturing.
“As we see daily in headlines from around the world, the cyber threats that companies face are becoming more frequent and having more disruptive consequences,” said Bill Phelps, executive vice president and leader of the firm’s Global Commercial business. “We have remained relentlessly focused delivering comprehensive cyber services and solutions to ensure business resiliency in the face of constantly evolving cyber threats.”
“The volume, sophistication, and diversity of cyber threats are an unrelenting problem for companies’ internal information security teams,” Frost & Sullivan wrote in the report. “Outsourcing to manage and secure IT environments has become a cost-effective option for those with outdated or otherwise inadequate cybersecurity practices.”
To learn more about Booz Allen’s cybersecurity expertise, visit: www.BoozAllen.com/Cyber
About Booz Allen
For more than 100 years, business, government, and military leaders have turned to Booz Allen Hamilton to solve their most complex problems. As a consulting firm with experts in analytics, digital, engineering and cyber, we help organizations transform. We are a key partner on some of the most innovative programs for governments worldwide and trusted by the most sensitive agencies. We work shoulder to shoulder with clients, using a mission-first approach to choose the right strategy and technology to help them realize their vision. With global headquarters in McLean, Virginia, our firm employs about 27,200 people globally, and had revenue of
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