Skip to main content

Worldwide Security Appliance Revenues Showed Little Year-Over-Year Growth in Q2 2024, but Grew 5% Compared to Q1 2024, According to IDC

According to the International Data Corporation (IDC) Worldwide Quarterly Security Appliance Tracker, total market revenue in the global security appliance market grew 0.5% year over year in the second quarter of 2024 (2Q24) to $4.2 billion, an increase of $20 million compared to the second quarter of 2023. Security appliance shipments reached 1 million units in 2Q24, a year-over-year decline of 4.3%.

IDC completed an update to its security appliances taxonomy and applied these changes during the first quarter of 2023, resizing the market by removing revenues associated with software or services that don't qualify for reporting in this hardware market view. IDC's Security Appliance Tracker now includes new figures for Vendor Revenue (new hardware revenue) and Renewals/Firmware update revenue, which are then combined to form the "Total Market Revenue" figure that IDC uses to calculate market share.

"The growing inclusion of AI capabilities on top of Network Security products like Firewall/UTM will improve the performance of such devices when protecting different environments from continuously evolving advanced threats. In addition, the increased throughput and improved energy efficiency will ensure that Security Appliances will continue to play a critical role in cybersecurity strategies," said Carlo Dávila, research manager, Enterprise Trackers at IDC.

Regional Highlights

From a geographic perspective, Canada and Japan were the most dynamic regions in the Security Appliances Market during the second quarter of 2024 with year-over-year growth of 15.4% and 10.3% respectively, offsetting the declines in Latin America (-10.7%) and Middle East & Africa (-17.6%).

Top 5 Companies, Worldwide Security Appliance Total Market Revenue, Market Share, and Growth, Second Quarter of 2024 (revenue in US$ millions)

Vendor

2Q24

Revenue

2Q24

Market

Share

2Q23

Revenue

2Q23

Market

Share

2Q24/2Q23

Growth

1. Palo Alto Networks

$952.4

22.4%

$883.6

20.9%

7.8%

2. Fortinet

$817.1

19.2%

$897.6

21.2%

-9.0%

3. Cisco

$560.3

13.2%

$535.9

12.7%

4.5%

4. Check Point

$334.1

7.9%

$315.8

7.5%

5.8%

5. Huawei

$146.7

3.5%

$145.0

3.4%

1.2%

Rest of Market

$1,435.4

33.8%

$1,448.2

34.3%

-0.9%

Total

$4,245.9

100.0%

$4,226.1

100.0%

0.5%

Source: IDC Worldwide Quarterly Security Appliance Tracker Q2 2024, September 5, 2024

In addition to the table above, 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.

According to the IDC Worldwide Quarterly Security Appliance Tracker, total market revenue in the global security appliance market grew 0.5% year over year in Q2 2024 to $4.2 billion.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.