Enterprise cybersecurity investments on the rise, says analyst

Pictured: Mauricio Sanchez, Research Director, Network Security, at Dell’Oro Group


Enterprise spending on network security technologies has fully recovered from a pandemic-driven downturn, according to findings from a major independent analyst source.


A recently published report from Dell’Oro Group indicates particularly healthy growth in sales of email security, firewall, security service edge (SSE), secure web gateway (SWG), web application firewall (WAF), and application delivery controller (ADC) products. Strong momentum in these and other security categories is expected through 2023.  However, said Dell’Oro, the pace of revenue growth in subsequent years, through to 2027, is forecast to be slightly weaker.


“We have been pleasantly surprised by the ongoing revenue rebound of the network security market that is expected to hit nearly 15% year-on-year growth in 2022, and is a testament to the high priority enterprises are placing on security,” said Mauricio Sanchez, Research Director, Network Security, and SASE & SD-WAN at Dell’Oro Group. “Nonetheless, we believe what goes up must come down. So while we don’t expect anything resembling a crash, we are forecasting spending to modulate downwards to historical norms starting in 2024 as enterprises digest what was already purchased and tighten budgets incrementally.”


Security solution vendors are preparing to meet rising demand with a new generation of products. Typical of this trend is malware prevention specialist Xcitium which has just announced an international expansion program. The company has signed deals with new distributors around the world as it positions for a share of the global cybersecurity market, forecast to grow by 11.3% in 2023 to more than $188 billion, according to Gartner.


“Global cybersecurity threats have grown exponentially since 2020 and service providers like Xcitium are expanding at a similar rate to keep our customers safe,” commented Ezra Correa, VP global markets at Xcitium. “No one can do that alone. The industry needs to work as an international ecosystem to meet the challenge. The growth of cybersecurity threats coincides with a period of global economic challenge. That means customers are having to fight back harder than ever while their security budgets are under pressure.”


Xcitium provides full-stack MDR/EDR/XDR services underpinned by patented Zero Dwell Containment technology that prevents malware from breaching systems without impeding business productivity. Xcitum’s technology isolates the 1-5% of new or unknown malware threats that other systems miss, stopping them before they have time or opportunity to do damage.

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