Cybersecurity is an approach to protect computers, networks, programs, and data from advanced threats and vulnerabilities, cyber warfare, cyber terrorism, and cyber espionage. It involves a set of security technologies and solutions, tools, policies, security concepts, guidelines, risk management approaches, and professional and managed services, to protect networks, computers, programs, and data from cyberattacks, damages, or unauthorized access. The major areas covered in cybersecurity are endpoint security, network security, application security, cloud security, wireless security, and others (database security and web security). The constantly evolving nature of security threats is one of the biggest challenges in the cybersecurity software market. With proper cybersecurity solutions, an organization can prevent security breaches and help cut down business cost, thereby enhancing its information security infrastructure. The public and private organizations hold a large amount of sensitive data that is prone to cyber threats and needs to be secured. Further, the sophistication level in cyber-attacks is increasing and creating the demand for comprehensive cybersecurity solutions. The security vendors are developing advanced intelligence-based cybersecurity solutions to provide a proactive, holistic security to critical business applications.
The vendors are placed into four categories based on their performance in each criterion: “visionary leaders,” “innovators,” “emerging companies,” and “dynamic differentiators.” The top 25 vendors which have been evaluated include IBM, HPE, McAfee, Trend Micro, Symantec, Check Point Software Technologies, Cisco Systems, Palo Alto Networks, Juniper Networks, Fortinet, FireEye, Sophos, Rapid7, RSA Security, LogRhythm, Optiv Security, Webroot, CyberArk Software, Qualys, F-Secure, Trustwave Holdings, Proofpoint, Splunk, Kaspersky, and Imperva. The vendor evaluations are based on 2 broad categories: product portfolio and business strategies. Each category carries various criteria, based on which the vendors have been evaluated. The evaluation criteria considered under product portfolio include breadth of offering, feature/functionality, delivery, and support. The evaluation criteria considered under business strategies include reach (geographic presence), industry coverage, channel, viability, and inorganic growth.
Vendors who fall in this category generally receive high scores for most of the evaluation criteria. They have strong and established product portfolios and a very strong market presence. They provide mature and reputable mobile cybersecurity solutions. They also have strong business strategies. IBM, HPE, McAfee, Trend Micro, and Symantec are the vendors who fall into the visionary leader category.
Innovators in the MicroQuadrant are vendors who have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolios. However, they do not have very strong growth strategies for their overall business. Check Point Software Technologies, Sophos, Fortinet, FireEye, Palo Alto Networks, RSA Security, Rapid7, LogRhythm, and Optiv Security are the vendors who fall into the innovators category.
They are established vendors with very strong business strategies. However, they are low in the product portfolio. They generally focus on a specific type of technology related to the product. Qualys, Splunk, CyberArk Software, Trustwave Holdings, and Kaspersky are the vendors who fall into this category.
They are vendors with niche product offerings, who are starting to gain their position in the cybersecurity software market. They do not have very strong business strategies as compared to other established vendors. They might be new entrants in the market and require some more time before gaining significant market traction. Proofpoint, Imperva, Webroot, and F-Secure are the vendors who fall into this category.
The cybersecurity software market is lucrative for technology vendors. Cybersecurity technology is at the peak of its growth phase across industry verticals. The factors contributing to the high growth rate of cybersecurity software markets are the increasing instances of high intensity Distributed Denial of Services (DDoS) attacks, ransomware, malware, APT’s, cyberterrorism and growing government regulations. These factors are expected to shape the future of the global cybersecurity software market.
The instances of massive cyber attacks globally is gradually increasing. Cyber-terrorist attack endpoints, networks, data, and other IT infrastructure that lead to huge financial losses for individuals, enterprises, and governments. The primary motive behind cybercriminals includes political rivalry, financial gain, reputational harm, international rivalry, and radical religious group interest. Most cyber attacks are for financial gain. Ransomware such as WannaCry, Petya, NoPetya and BadRabbit are some of the significant ransomware which has affected enterprises and government organizations on a large scale.
Cyber threats not only hamper the productivity of businesses but also damage the critical IT infrastructure and sensitive data of organizations. Owing to the rapid rise in digital transactions globally across industry verticals there is an increase in the frequency of cybercrimes. The increase in enterprise data breaches or data leakage is fueling the market for cybersecurity products and services. According to Juniper Networks, the global cost of data breaches to enterprises is estimated to reach USD 8 trillion in the coming 5 years. Hence, safeguarding against cyber threats has become essential for the growth of enterprises. Nowadays, cyberattackers are using sophisticated techniques to launch ransomware attacks and aim to raise money through small ransoms comprising hundred dollars each. With the advancement of technologies automated and sophisticated cyber-attacks are accelerating. The increasing sophistication of attacks is triggering organizations across the globe to adopt cybersecurity solutions and services to combat with swarm cyber-attacks.
Cybersecurity Software Quadrant
Find the best Cybersecurity Software solution for your business, using ratings and reviews from buyers, analysts, vendors and industry experts
- Breadth and Depth of Product Offerings
- Security Type
- Products/Solutions Offered
- Identity and Access Management (IAM)
- Risk and Compliance Management
- Unified Threat Management (UTM)
- Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
- Security and Vulnerability Management
- Disaster Recovery
- Distributed Denial of Service Mitigation (DDoS)
- Add-on Product/Solutions
- Product Features and Functionality
- Professional Services
- Managed Services
- Professional Services
- Support and Maintenance
- Training and Education
- Risk & Threat Assessment
- End Users
- System Administrator
- Others, Please Specify
- Deployment Model
- Delivery Mode for Client Location
- Full Time Equivalent
- Subscription / Licensing
- Channel of Delivery
- Support and Services
- Level of Support
- Customer Redressal Mechanism/Program
- Pre Sales Support
- Software Requirement Specification (SRS)
- Product Demos
- Proof of Concept
- Dedicated Account Manager (DAM)
- Channel for Delivery of Support Services
- On-Site Support
- Remote Support