TechDogs-"Total Market Revenue For The Worldwide Security Appliance Market Grew 7.8% In Q2 2023 Led By Double-Digit Growth In EMEA, According To IDC Tracker"

Market Research

Total Market Revenue For The Worldwide Security Appliance Market Grew 7.8% In Q2 2023 Led By Double-Digit Growth In EMEA, According To IDC Tracker

By Business Wire

Business Wire
Overall Rating

NEEDHAM, Mass.--(BUSINESS WIRE)--#Firewall--According to the International Data Corporation (IDC) Worldwide Quarterly Security Appliance Tracker, total market revenue in the overall security appliance market grew 7.6% year over year in the second quarter of 2023 (2Q23) to more than $4.2 billion. This represents a $298 million increase compared to the same quarter in 2022. In the same period, security appliance shipments grew 22.0% year over year to 1.1 million units.

IDC completed an update to its Security Appliances taxonomy and applied these changes during the first quarter of 2023. This resized the market by removing revenues associated with software and services that don't qualify for reporting within the new hardware-focused market view. The 2Q23 Security Appliance Tracker release includes new figures, Vendor Revenue (new hardware revenue), and Renewals/Firmware update revenue, which were introduced during the previous cycle, 1Q23. IDC will use the figure "Total Market Revenue" to calculate market share going forward.

The performance of the combined Unified Threat Management (UTM) and Firewall markets drove the growth of the overall market in 2Q23 with revenue growth of 9.7% compared to 2Q22. The Intrusion Prevention Systems (IPS) market grew 2.3% year over year, while Content Management and Virtual Private Networks (VPN) both experienced single-digit year-over-year decline in the quarter.

"Supply chain constraints that have impacted the hardware-based markets continue to improve and IDC expects the Security Appliance market to maintain a healthy rate of growth in the years ahead as hardware-based security platforms remain a key component in a customer's cybersecurity investment strategy," said Carlo Dávila, research manager, Enterprise Trackers at IDC.

Regional Highlights

From a regional perspective, the Europe, Middle East and Africa (EMEA) region delivered a strong performance in the second quarter of 2023, growing revenues 11.8% compared with the same quarter in 2022. The Americas region grew 10.3% with healthy grow of 8.6% in the United States and very strong results in Canada and Latin America, both showing over 20% growth in the second quarter.

Top 5 Companies, Worldwide Security Appliance Total Market Revenue, Market Share and Growth, Second Quarter of 2023 (revenue in US$ millions)

Vendor

2Q23 Revenue

2Q23 Market Share

2Q22 Revenue

2Q22 Market Share

2Q23/2Q22 Growth

T1. Fortinet*

$897.64

21.3%

$745.92

19.1%

20.3%

T1. Palo Alto Networks*

$883.61

21.0%

$795.01

20.3%

11.1%

3. Cisco

$535.94

12.7%

$504.40

12.9%

6.3%

4. Check Point

$315.81

7.5%

$313.34

8.0%

0.8%

5. Huawei

$144.97

3.4%

$132.54

3.4%

9.4%

Rest of Market

$1,435.25

34.1%

$1,424.27

36.4%

0.8%

Total

$4,213.22

100.0%

$3,915.47

100.0%

7.6%

Source: IDC Worldwide Quarterly Security Appliance Tracker Q2 2023, September 7, 2023

* Note: IDC declares a statistical tie in the worldwide security appliances market when there is a difference of 1.0% or less in the share of revenues or shipments among two or more vendors.

A graphic illustrating the worldwide market share of the top 5 security appliance companies over the previous five quarters is available by viewing this press release on IDC.com.

IDC's Worldwide Quarterly Security Appliance Tracker provides the total market size and vendor share, along with a five-year forecast, for the following technology categories (content management, IDP, traditional firewall, unified threat management, and VPN) and products (messaging security, web security, IDS, IPS, traditional firewall, unified threat management and SSL VPN). Geographic coverage includes nine regions and 48 countries. Measurements for this tracker are in units, vendor revenue, and value.

About IDC Trackers

IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools.

Click here to learn about IDC's full suite of data products and how you can leverage them to grow your business.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

All product and company names may be trademarks or registered trademarks of their respective holders.


Contacts

Lidice Fernandez
lfernandez@idc.com
305-351-3057

Michael Shirer
press@idc.com
508-935-4200

First published on Fri, Sep 8, 2023

Enjoyed what you read? Great news – there’s a lot more to explore!

Dive into our content repository of the latest tech news, a diverse range of articles spanning introductory guides, product reviews, trends and more, along with engaging interviews, up-to-date AI blogs and hilarious tech memes!

Also explore our collection of branded insights via informative white papers, enlightening case studies, in-depth reports, educational videos and exciting events and webinars from leading global brands.

Head to the TechDogs homepage to Know Your World of technology today!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

IDC IDC Trackers Market Intelligence Tech Media Telecommunications

References:

Join The Discussion

  • Dark
  • Light