As headlines like “data breaches”, “loss of user information”, “hacking into company databases” become common, it looks like enterprises globally, have finally started to take aggressive cybersecurity measures to stop their names from popping into those headlines. At least thats what a recent report from research firm Canalys says.
The latest research from Canalys’ Cybersecurity Analysis service shows cybersecurity solutions for public cloud and “as a service” accelerated in Q1 2019. These deployment models collectively grew 46.0% year on year. These types of solutions accounted for 17.6% of total cybersecurity market value, up from 13.8% in the same period a year ago.
Virtual security appliances and agent solutions also grew strongly, up 18.2% on an annual basis. Traditional hardware and software deployments still dominate, representing almost 75% of the total. Both models continued to grow but at a slower rate of just over 8%. This highlights the ongoing transition in cybersecurity solutions as organizations loo k to protect more data assets and workloads based in the public cloud.
“Investment in cybersecurity shows no sign of slowing down as it remains a priority for all organizations. The security industry will be immune to the increasingly challenging macro-economic and political environment,” said Canalys Principal Analyst Matthew Ball. “Recent high-profile ransomware attacks have resulted in organizations paying large sums to regain access to critical IT systems and data. Strengthening security strategies across devices, infrastructure, perimeters and applications will continue to be critical. Increasing employee training and gaining more comprehensive cybersecurity insurance will also be important to counter these threats.”
In terms of vendors, there is a largely unchanged list. The top five cybersecurity market leaders in Q1 2019 were Cisco, Palo Alto Networks, Symantec, Check Point and Fortinet, which collectively accounted for 34.0% of the total spend. Cisco is gaining further ground in network security, while Palo Alto Networks and Fortinet continued to grow faster as all three took share. McAfee, Symantec and Trend Micro remained the market leaders in endpoint security, but competition is increasing, with Crowdstrike, Carbon Black and Cylance making most gains.
Symantec, with its user-friendly solutions, has continued its leadership in web and email security. In terms of the newer deployment models, Trend Micro stands out for simplifying its licensing to enable customers to buy across different types.
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