2023Q1 Global Network Security Market grew 12.5% year-on-year: Microsoft grew 32.3%

CTOnews.com, June 20, according to the latest report released by market research firm Canalys, the global cyber security market was $18.6 billion in the first quarter of 2023 (CTOnews.com Note: currently about 133.176 billion yuan), an increase of 12.5% year on year, surpassing other technology industries.

CTOnews.com quoted Canalys as saying that the revenue of the major security companies is as follows:

Palo Alto Networks grew by 23.6% in the first quarter, further consolidating its position and expanding its market share to 8.7%.

Fortinet's share also increased by 26.2% to 7.0%.

Cisco improved its performance through the acquisition and launch of new platforms, but grew by only 1.4% in the quarter due to problems such as a backlog of firewall orders.

CrowdStrike overtook Check Point and ranked fourth with a growth rate of 39.9%

Check Point grew 4.2% to rank fifth.

Okta grew by 26.4%.

Microsoft grew by 32.3%.

Identity security (+ 14.3%) and protecting mixed workers remain priorities, which drives SSE's investment in Web and email security (+ 16.0%).

North America was the largest cyber security market by region in the first quarter, reaching $9.7 billion (currently about 69.452 billion yuan). However, North American market growth slowed sharply from the previous quarter because of the collapse and banking uncertainty.

Spending is $5.8 billion in Europe and the Middle East (currently about 41.528 billion yuan), $2.5 billion in the Asia-Pacific region (currently about 17.9 billion yuan), and $660 million in Latin America (currently about 4.726 billion yuan).

Referenc

Cybersecurity outpaces wider tech market with 12.5% growth in challenging economy