The cybersecurity market rose 9.7 percent to $10.4 billion in Q1 2020, according to Canalys.
The global cybersecurity market includes network security, endpoint security, web and email security, data security, and vulnerability and security analytics.
Cisco is the leading cybersecurity supplier with 9.1 percent share.
Palo Alto Networks has 7.8 percent market share in the cybersecurity market.
Fortinet increased its cybersecurity market share to 5.9 percent.
Check Point was the fourth largest cybersecurity vendor, accounting for 5.4 percent.
Symantec has 4.7 percent share in the cybersecurity business.
Growth in cybersecurity will be under pressure as IT budgets are reassessed to account for worsening economic conditions. This is despite the criticality of protecting organizations’ data assets, operations and employees from increasing threats and vulnerabilities.
Planned increases in cybersecurity spending over the next 12 months will be either reduced or halted completely, the report said.
“The shift to remote working from March resulted in strong demand for endpoint security to protect new company-deployed notebooks, as well as consumer-owned devices used as part of business continuity measures,” said Matthew Ball, Canalys Chief Analyst.
Endpoint security shipments increased 16.9 percent to represent 15.4 percent of the total cybersecurity market.
Network security grew 4.0 percent as the hardware appliance business for some vendors was affected by supply chain constraints.
Web and email security grew 13.8 percent year on year as organizations continued to expand their use of cloud-based services and software-as-a-service applications, including Office 365.”
Cybersecurity vendors responded quickly to the crisis, enabling organizations to secure new remote workers temporarily, and giving back visibility and control after many had bypassed policies to ensure continuity.
Cisco extended free licenses for its Umbrella, Duo Security and AnyConnect Secure Mobility Client products to both existing and new customers. Cisco also announced its $2.5 billion Business Resiliency Program to keep its pipeline healthy.
Palo Alto Networks launched its financial services arm to offer extended payment terms, in addition to free 90-day trials for its GlobalProtect offerings.
Juniper Networks provided free trials of its vSRX to customers to expand firewall capacity, as well as free trials of AppSec, IPS and SecIntel.
Bitdefender aimed its 12-month free access offer at healthcare organizations.
Kaspersky also made its Endpoint Security offerings and Hybrid Cloud Security available for free to the sector.
Trend Micro provided its Maximum Security product free for six months to workers having to use their own devices.
McAfee offered short-term three-month burst licenses for its endpoint, DLP, Unified Cloud Edge and CASB products.
“The vendors that were quick to support existing and new customers during lockdown will stand to gain the most once organizations reprioritize their cybersecurity strategies,” said Canalys Research Analyst Ketaki Borade.