International. The cybersecurity industry continues to grow, surpassing the most popular applications or services. According to data analyzed by Atlas VPN, total cybersecurity revenue reached $10.4 billion during the first quarter of 2020. The number is double what TikTok, a hyper-popular entertainment app, generated.
Between January and March 2020, the online security market generated $10.4 billion in revenue, while TikTok earned 46% less, reaching $5.6 billion. At the same time, Uber earned revenue of $3.5 billion.
During the first quarter of 2020, network security was the most lucrative field: of revenue of $10.4 billion, network security solutions generated $3.7 billion, the Canalys report reveals.
Network security tools are designed to prevent various online threats, such as malicious actors accessing the device without permission and stealing your information. The most well-known network security tools are antivirus software solutions or VPN services.
Antivirus software services protect internet users from unwanted malware, while VPNs encrypt online traffic so that third parties can no longer track their actions online.
Meanwhile, the vulnerability management segment accounted for $2.3 billion in revenue in 2020, the first quarter. Vulnerability management tools help identify and report security flaws in systems and the software running on them. The web and email protection field also generated $2.3 billion in revenue.
During the first quarter of this year, the endpoint security sector accounted for $1.6 billion. Endpoint security tools are dedicated to the corporate network when accessed through remote devices. Endpoint security is often confused with antivirus software; however, the former covers the entire network, while the latter protects a single device.
Finally, the data security sector accounted for $500 million in revenue. Data security tools are typically used by individual customers, while network security solutions are designed for enterprise enterprises.
The network security sector got the most benefit because organizations aimed to protect their employees who work remotely.
Cybersecurity Providers
In the fourth quarter of 2017, Cisco accounted for 8.7% of the cybersecurity market share. The percentage increased to 9.6% in the fourth quarter of 2018 and jumped to 10% in the first quarter of 2019. During the first quarter of this year, Cisco accounted for 9.1% of cybersecurity revenue, according to Canalys.
Just behind Cisco is Palo Alto Networks, the second-largest cybersecurity company by revenue. In 2020, the first quarter, Palo Alto, a company that provides advanced firewalls and cloud-based solutions, accounted for 7.8% of market share, which is an all-time high since 2017, first quarter: over time, Palo Alto Networks accounted for 5.9% of revenue.
Fortinet ranks third on the list of cybersecurity providers. By offering various cybersecurity solutions, such as firewalls or antivirus software, the company accounted for 5.9% of market shares in 2020, Q1.
Meanwhile, Checkpoint, a provider of security software and hardware, accounted for 5.4% of market shares in 2020, Q1. By selling multiple cybersecurity-related products, Symantec accounted for 4.7% of revenue.
The last three leading online security companies for the first quarter of this year were IBM (4.31%), McAfee (4.01%) and Trend Micro (3.51%). IBM is a multinational technology company that sells computer hardware, while McAfee and Trend Micro are well-known antivirus software vendors.
Source: Atlas VPN
