Key 2H19 benchmark takeaways
Total benchmarked revenue
Double-digit growth among covered vendors was due to steady industry acquisitions and strong performance from many of the vendors, including IBM (NYSE: IBM), F5 Networks (Nasdaq: FFIV), CyberArk (Nasdaq: CYBR), Fortinet (Nasdaq: FTNT) and Splunk (Nasdaq: SPLK). TBR believes security demand continues to rapidly accelerate as companies execute digital transformation projects and cyber threats continue to increase. The COVID-19 pandemic is resulting in an increase in cyberattacks aimed at multiple verticals such as healthcare and financial services, as institutions are forced to operate online in a greater capacity than prior to the outbreak.
Application security and mobile security segments
Higher demand for email- and web-related security as well as application vulnerability scanning led to an increase in application security segment revenue. The mobile security segment is seeing high revenue growth as the number of mobile devices continues to rise and the need to provide endpoint detection to all mobile and IoT connected devices increases.
TBR’s Security Benchmark provides clients a deep dive into the enterprise security market, highlighting the financial performance of public and private, multiline, and pure play vendors within the industry.