MCLEAN, Va.--(BUSINESS WIRE)--Frost & Sullivan, a leading market research and strategy firm, has ranked Booz Allen Hamilton (NYSE: BAH) the North American market leader in Managed and Professional Security Services in its annual report, Global Managed & Professional Security Services Market, Forecast to 2023. Booz Allen’s established role as a trusted partner to federal and defense agencies and proven ability to deliver intelligence-grade cybersecurity tradecraft at scale to large enterprises are key contributors to its ongoing market leadership in a highly competitive market.
According to Frost & Sullivan’s report, the global managed and professional security services market grew a significant 18.3 percent from 2017 to 2018. Booz Allen has captured the largest portion of the total North America market—the largest market globally—at 11.4 percent market share and is the number one provider of cyber for defense agencies. Frost & Sullivan also ranked Booz Allen the leading provider of professional security services in 2018.
“With escalating cyber risks and a perpetual shortage of qualified talent, organizations are increasingly turning to trusted partners like Booz Allen to ensure cyber readiness, response and resiliency,” said Brad Medairy, a Booz Allen executive vice president and leader of the firm’s cyber and engineering practice. “Our ability to rapidly bring together the most qualified talent and intelligence-grade tradecraft is why our clients consistently turn to us to support the most consequential and most difficult cyber challenges—that’s why Booz Allen remains the largest provider of security services in North America.”
For more than five years, Booz Allen has supported the government-wide Continuous Diagnostics and Mitigation (CDM) program, helping 13 federal agencies address critical cyber capability gaps and fortify the security of networks, systems and data. Last year, the firm was awarded an additional $1.03 billion, six-year task order, the largest federal task order in Booz Allen’s history. In addition to its work with defense and federal agencies, the firm’s cyber-focused Commercial business continues to expand its support of Fortune 500 and Global 2000 companies across industries including financial services, health and life sciences, energy, transportation, and logistics.
“As part of Booz Allen’s comprehensive Vision 2020 strategy, we made a commitment to pivot from the traditional government market into the private sector,” said Bill Phelps, executive vice president and leader of the firm’s U.S. commercial cyber business. “The resulting growth of our Commercial Cyber business aptly demonstrates the value we are able to deliver when our government-derived cyber expertise is brought to bear for commercial clients.”
“Booz Allen is strongly positioned in the Defense and Federal government cyber markets and has effectively leveraged its skilled practitioners into the commercial sector,” said Danielle VanZandt, Industry Analyst for Security at Frost & Sullivan. “Booz Allen is well positioned to provide its clients the synergy of a joint professional security services (PSS) and managed security services (MSS) offering, given its focus on the managed detection and response (MDR), the fastest growing segment of MSS.”
This new ranking from Frost & Sullivan builds on recognition for Booz Allen’s cybersecurity expertise. IDC, a premier global provider of market intelligence and advisory services for the IT market, also recognized Booz Allen as a Leader with the largest market share in IDC Marketspace U.S. Incident Readiness, Response and Resiliency (September 2018) Vendor Assessment report.
In addition, ALM Consulting Intelligence recognized Booz Allen as a Leader in Cybersecurity Consulting in The ALM Vanguard, Cybersecurity Consulting Buyer Ratings Guide (October 2018).
Booz Allen is the first company in the world to hold all three of the U.S. Government’s elite cyber accreditations: the National Security Agency’s Cyber Incident Response Assistance (CIRA) and Vulnerability Assessment Service accreditations, and the General Services Administration’s Highly Adaptive Cybersecurity Services accreditation.
To learn more about Booz Allen’s cybersecurity expertise, visit: www.BoozAllen.com/Cyber.
About Booz Allen Hamilton
For more than 100 years, business, government, and military leaders have turned to Booz Allen Hamilton to solve their most complex problems. They trust us to bring together the right minds: those who devote themselves to the challenge at hand, who speak with relentless candor, and who act with courage and character. They expect original solutions where there are no roadmaps. They rely on us because they know that—together—we will find the answers and change the world.
We solve the most difficult management and technology problems through a combination of consulting, analytics, digital solutions, engineering, and cyber expertise. With global headquarters in McLean, Virginia, our firm employs more than 26,000 people globally, and had revenue of $6.70 billion for the 12 months ended March 31, 2019. To learn more, visit www.boozallen.com. (NYSE: BAH)
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