• About
  • Subscribe
  • Contact
Friday, July 11, 2025
    Login
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
No Result
View All Result
Home Technology Security

Cybersecurity spending is driven by endpoint products

FutureCIO Editors by FutureCIO Editors
January 3, 2023
Photo by Atypeek Dgn: https://www.pexels.com/photo/modern-equipment-for-video-surveillance-on-wall-5966513/

Photo by Atypeek Dgn: https://www.pexels.com/photo/modern-equipment-for-video-surveillance-on-wall-5966513/

Palo Alto Networks was the number one vendor in the quarter, growing 24.9% year on year and increasing its market share to 8.4%, up from 7.8% in Q3 2021. Cisco was the second-largest cybersecurity vendor, with a growth of 16.7% and a flat market share of 6.9%. Fortinet placed third, achieving growth of 29.9% to reach a 6.7% market share, up from 6.0% a year ago. 

Endpoint security was the fastest-growing category, up 18.7% year on year at US$2.7 billion. Network security was the largest category, representing US$5.1 billion and growing 14.8%. 

The technology sector faces deteriorating economic conditions, increasing uncertainty and greater scrutiny of IT spending, factors that most vendors considered in their forecasts. Falls in new business, reductions in spending commitments and delays to subscription start dates were worse than expected, which will filter into future results. 

Matthew Ball

“Many cybersecurity vendors have shifted toward subscription-led business models, which also helped to shield them from the immediate impact of the economic slowdown,” said Matthew Ball, chief analyst at Canalys.

“The move to subscription-based platforms and increased focus on upselling existing accounts will sustain revenue growth for cybersecurity vendors over the next 12 months.” 

Matthew Ball

Worldwide cybersecurity market share Q3 2022

Note: Percentages may not add up to 100% due to rounding
Source: Canalys Cybersecurity Analysis, November 2022

Go-to-market opportunities

Channel sales accounted for 90.6% of the overall market, with the other 9.4% of sales done directly with customers. Channel sales grew by 15.9% year on year, outpacing direct sales. 

Channel partners remained optimistic about the opportunities in cybersecurity.

27% expected their cybersecurity revenue to grow by more than 20% in 2023, according to a Canalys poll of 393 respondents taken between 21 November 2022 and 9 December 2022. Another 27% anticipated growth of 11% to 20% next year. Only 10% of partners expected cybersecurity sales to decline.

Source: Canalys 2022

US$9.6 billion of sales came from North America, which remained by far the largest cybersecurity market, representing 53.8% of global spending. It was also the fastest-growing market at 17.1%. EMEA sales reached US$5.2 billion, APAC US$2.4 billion and Latin America US$0.6 billion.

Related:  Privacy is a business imperative in APAC
Tags: CanalysCiscoendpoint securityFortinetPalo Alto Networks
FutureCIO Editors

FutureCIO Editors

No Result
View All Result

Recent Posts

  • Study finds Singapore invests in AI but businesses struggle to scale
  • Qlik releases Trust Score for AI in Talend Cloud
  • New ABB circuit breaker aims to enhance AI data centres and advanced manufacturing resilience
  • Alibaba Cloud marks 10 years of operations in Singapore with new infrastructure investments
  • Digital Realty highlights advancements in sustainability goals in new report

Live Poll

Categories

  • Big Data, Analytics & Intelligence
  • Business Applications & Databases
  • Business-IT Alignment
  • Careers
  • Case Studies
  • CISO
  • CISO strategies
  • Cloud, Virtualization, Operating Environments and Middleware
  • Computer, Storage, Networks, Connectivity
  • Corporate Social Responsibility
  • Customer Experience / Engagement
  • Cyber risk management
  • Cyberattacks and data breaches
  • Cybersecurity careers
  • Cybersecurity operations
  • Education
  • Education
  • Finance
  • Finance & Insurance
  • FutureCISO
  • General
  • Governance, Risk and Compliance
  • Government and Public Services
  • Growth Strategies
  • Hospitality & Tourism
  • HR, education and Training
  • Industry Verticals
  • Infrastructure & Platforms
  • Insider threats
  • Latest Stories
  • Logistics & Transportation
  • Management Leadership
  • Manufacturing
  • Media and Telecommunications
  • News Stories
  • Operations
  • Opinion
  • Opinions
  • People
  • Process
  • Remote work
  • Retail & Wholesale
  • Sales & Marketing
  • Security
  • Tactics and Strategies
  • Technology
  • Utilities
  • Videos
  • Vulnerabilities and threats
  • White Papers
Show More

Strategic Insights for Chief Information Officers

FutureCIO is about enabling the CIO, his team, the leadership and the enterprise through shared expertise, know-how and experience - through a community of shared interests and goals. It is also about discovering unknown best practices that will help realize new business models.

Quick Links

  • Videos
  • Resources
  • Subscribe
  • Contact

Cxociety Media Brands

  • FutureIoT
  • FutureCFO
  • FutureCIO

Categories

Select Category
    • Privacy Policy
    • Terms of Use
    • Cookie Policy

    Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

    Login to your account below

    or

    Not a member yet? Register here

    Forgotten Password?

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Management Leadership
      • Growth Strategies
      • Finance
      • Operations
      • Sales and Marketing
      • Careers
    • Technology
      • Infrastructure and Platforms
      • Business Applications and Databases
      • Big Data, Analytics and Intelligence
      • Security
    • Industry Verticals
      • Finance and Insurance
      • Manufacturing
      • Logistics and Transportation
      • Retail and Wholesale
      • Hospitality and Tourism
      • Government and Public Services
      • Utilities
      • Media and Telecommunications
    • Resources
      • Whitepapers
      • PodChats
      • Videos
    • Events
    Login

    Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

    Subscribe