Report: Cloud Security The Bright Spot In Network Security Market Growth
Total network security revenues reached $9 billion for the last twelve months.
New Q3 data from Synergy Research Group shows that although the total network security market is growing at an annualized rate of just 3%, the data center security part of the market is growing by over 10% and the cloud security part is growing by over 20%. Within the total market the integrated security appliance segment is growing more rapidly than the purpose-built security appliance segment. Total network security revenues reached $9 billion for the last twelve months.
In Q3 the market leaders in network security were Cisco and Check Point, followed by Symantec, Huawei, Juniper, and Palo Alto Networks. In cloud security the leaders are again Cisco and Check Point, though both have a higher share in cloud security than they do for total network security. Cisco’s share of worldwide network security revenues in Q3 was 30%, while for cloud security its share was 39% — a figure which has been steadily increasing, thanks in part to its acquisition of Sourcefire.
“Historically security concerns have often been a significant barrier to the adoption of cloud, but the barriers have been weakened by the steady flow of more comprehensive and sophisticated security solutions from the leading vendors,” said Jeremy Duke, Synergy Research Group’s founder and chief analyst. “This change in attitudes has gone hand in glove with a big increase in spending on cloud security. Cisco’s strength in data center equipment, and especially its strength in service provider data center, has enabled it to strongly grow its share of cloud security revenues.”
This article was originally posted “Report: Cloud Security The Bright Spot In Network Security Market Growth” from Cloud Strategy Magazine.