Cybersecurity technology spending grew 9.1 percent to $37 billion in 2018 driven by the creation of hybrid and complex environments, the latest Canalys report said.
Web and email security products grew 8.2 percent, followed by endpoint security, and vulnerability and security management solutions, both growing 7.3 percent.
Cisco grabbed cybersecurity market share of 9.9 percent in 2018 vs 9.4 percent in 2017.
Palo Alto Networks achieve market share of 6.9 percent in 2018 vs 5.9 percent in 2017.
Cybersecurity share of Check Point fell to 6.1 percent from 6.4 percent.
Symantec lost cybersecurity share to 6.1 percent from 7.5 percent.
Fortinet enhanced its share in the global cybersecurity market to 5.5 percent in 2018 as compared with 5.1 percent in 2017.
Growth rates within the different regions were similar, ranging from 7.0 percent in APAC to 10.5 percent in EMEA, with Latin America at 9.2 percent and North America 8.9 percent.
Network security products vendors Cisco, Palo Alto Networks and Fortinet achieved strong double-digit growth.
“The fast adoption of multiple cloud services by enterprises, which often keep on-premises infrastructure as well, has created hybrid environments, complex to define and protect. This is driving growth for network security products,” said Canalys Research Analyst Claudio Stahnke.
Check Point was in third place, growing 5 percent thanks to its cloud security offering, which was recently expanded in identity management and web security with the acquisitions of Dome9 and ForceNock respectively.
Symantec is expected to rebound this year after declining 12 percent in 2018.
Acquisitions in the cybersecurity space will continue in 2019 as the market remains highly fragmented and new threats force incumbents to further expand their platforms.