Top 10 Network Security Solution Providers in the Cybersecurity Industry

The cybersecurity industry is becoming one of the fastest growing sectors globally. The emergence of online e-commerce platforms and new technologies, such as cloud security, Internet of Things, artificial intelligence, and other technologies, is driving the market. The key players have been focusing on development of internet security solutions that are based on AI platforms.

As per a report by Fortune Business Insights™, the market for cybersecurity reached USD 139.77 billion in 2021 and is set to reach USD 376.32 billion in 2029 with a CAGR of 13.4% during the forecast period. Increasing number of e-commerce channels have been putting their focus on adopting network security solutions, which is estimated to drive this market.

Fortune Business Insights™ Presents the Top 10 Cybersecurity Companies Operating in the Industry.

1. Cisco Systems

Cisco Systems, Inc. also goes by Cisco, is an American multinational corporation based in San Jose, California. It helps companies to monitor and connect devices. It secures and automates operations, computes, and manages data. The company specializes in various specific tech markets such as domain security, Internet of Things (IoT), energy management, and video conferencing. For driving innovation, the company applies advanced technologies such as advanced analytics and machine learning. The application of such new technologies is to improve and operate network functions.

In May 2021, Cisco Systems, Inc. bought Kenna Security, Inc. for decreasing the number of cyberattacks and reducing the time of detection. Companies make use of Kenna’s risk-based vulnerability management systems to detect, prioritize, and address cyber concerns by working cross-functionally.

2. IBM Corporation

Founded in 1911, IBM Corporation is an U.S.-based multinational technology corporation located in Armonk, New York. It operates in about 171 countries. The company manufactures and designs computer hardware, software, and facilitates consulting services in a wide range of fields from computers to nanotechnology. The company implements a risk management method, which is based on the Technology Cybersecurity Framework and the National Institute of Standards for identification and addressing security risks.

In March 2021, IBM Security announced the improvement of services to help companies to manage their cloud security standards, strategy, and controls in hybrid cloud configurations. It also includes cloud-native and third-party technology.

3. Proofpoint, Inc. 

Proofpoint, Inc. is an American security company located in Sunnyvale, California. The company takes a holistic approach to spread awareness and educate people about online safety. It offers Proofpoint Security Awareness Training to users for securing custom-made online web security to discover vulnerabilities and competencies.  

In August 2021, Thoma Bravo procured Proofpoint at USD 12.3 billion. In 2020, it exceeded USD 1 billion in revenue, becoming the first SaaS-based compliance and cybersecurity company to achieve this milestone.

4. Fortinet, Inc. 

Founded in 2000, Fortinet, Inc. was started 22 years ago. It was founded by brothers Micheal Xie and Ken Xie. The company sells and develops web security solutions such as antivirus software, physical firewalls, endpoint security components, and intrusion prevention systems.  

In July 2021, Fortinet, Inc. purchased application security innovator, Sken.ai, to boost DevSecOps. Sken.ai helps in the execution of Machine Learning (ML) to associate each vulnerability found in different types of scans and applications and assign it a security risk score. In January 2021, Fortinet, Inc. launched FortiXDR, a fully automated, AI-enabled XDR solution for online cyber threat detection.

5. Microsoft Corporation 

Microsoft Corporation, simply known as Microsoft, produces computer software, personal computers, consumer electronics, and other services. It is headquartered in Redmond Campus, Redmond, Washington, U.S.

In May 2022, the company launched three web security services for companies to offer extended support to improve the protection against ransomware and other online threats. The company also released a national campaign with the U.S. Community universities, which are expected to train and hire 250,000 individuals by 2025, accounting for half of the nation's employment scarcity.

6. Zscaler, Inc. 

Zscaler, Inc., founded and started in 2007 by Jay Chaudhry and K. Kailash, is a cloud security company. It offers platforms for businesses that transfer their data to the cloud with employees working remotely. The company secures, anticipates, and simplifies the understanding of doing business for the world's most well-known companies.

In June 2022, Zscaler, Inc. announced its enhanced AI/ML innovations, which are driven by the security cloud for digital experience monitoring and unparalleled user protection.

7. F5 Networks, Inc. 

F5 Networks, Inc. is an U.S.-based technology company that specializes in application security, online fraud prevention, multi-cloud management, application availability & performance, Application Delivery Networking (ADN), and access & authorization. The company is headquartered in Seattle, Washington in F5 Tower and additional 75 offices. It has many offices such as in New York, Washington, Boulder, Colorado, London, San Jose, and San Francisco.

In June 2022, F5 declared improvements to F5 Distributed Cloud Services to support customers safeguard and deliver the digital experiences that are important in daily lives in the ways we seek out entertainment, interact, and purchase goods & services.   

8. Broadcom, Inc.

Broadcom Inc. is a U.S.-based designer, manufacturer, and developer of semiconductor and infrastructure software products. The company offers data center, software, networking, and wireless storage. The company offers a wide range of product portfolio, integrated security solutions, industry-leading security & payment authentication solutions for mainframes, and Symantec's premier suite of integrated cybersecurity software.

In June 2021, the company released Adaptive Protection, a superior feature integrated with Symantec Endpoint Security. It uses progressive machine learning techniques, based on Symantec's years of practice in endpoint security, to offer extra automated security personalized to each customer's environment without compromising productivity.

9. Palo Alto Networks, Inc. 

Palo Alto Networks, Inc. is a U.S.-based Cybersecurity company, located in Santa Clara, California. The company offers trusted intelligence, visibility, automation, and flexibility that aid complex businesses advance safely.

In October 2021, Palo Alto Networks revealed its new multi-cloud office in India focused on serving local and regional customers. The new cloud location underscores the significance of India in the global strategy and the company’s commitment to the country.

10. Check Point Software Technologies

Check Point is an Israeli-American provider of software and combined hardware for network security, endpoint security, cloud security, mobile security, data security, and security management. In May 2022, Almac Group consolidated cybersecurity infrastructure with Check Point Software for advanced threat prevention.

Integration of Advanced Technologies to Propel Profit Margins for Industry in the Future

Integration of new technologies, such as cloud security, Internet of Things, artificial intelligence, and other technologies, is driving the market. Key players have been adopting such technologies that would help players in the detection of uncertain threats. IoT solutions have also been gaining popularity. Big Data and cloud technology are being used to support companies for learning and exploration of risks. Top cybersecurity companies, such as IBM Corporation and Cisco Systems have been focusing on advanced security solutions to boost their presence in the market.