Research firm IDC has released the main vendors in the global security appliance market for the second quarter of 2024.
Security appliance market Q2 2024 IDC reportPalo Alto Networks (22.4 percent share), Fortinet (19.2 percent), Cisco (13.2 percent), Check Point (7.9 percent), and Huawei (3.5 percent), are the main vendors in the global security appliance market, IDC said. Fortinet was the #1 supplier in the security appliance market in Q2 2023 with 21.2 percent share compared with 20.9 percent for Palo Alto Networks.
The global security appliance market revenue rose 0.5 percent in the second quarter of 2024 (2Q24), reaching $4.2 billion, according to the latest data. This marks a $20 million growth compared to the same period in 2023. However, security appliance shipments saw a decline, with a 4.3 percent drop, totaling 1 million units.
A notable trend in the industry is the integration of AI capabilities into network security products like firewalls and Unified Threat Management (UTM) systems. These advancements are expected to enhance device performance in protecting diverse environments from increasingly sophisticated cyber threats.
“Increased throughput and improved energy efficiency will ensure that security appliances remain vital to cybersecurity strategies,” said Carlo Davila, research manager at IDC’s Enterprise Trackers.
Regional market performance varied significantly. Canada and Japan led the growth with impressive year-over-year gains of 15.4 percent and 10.3 percent respectively. These gains helped offset declines in Latin America, where the market shrank by 10.7 percent, and in the Middle East & Africa, which saw a sharper drop of 17.6 percent.
Baburajan Kizhakedath
