At present, the cybersecurity market is growing at a very fast pace, witnessing so many cyber crimes escalating over the years. The global cybersecurity market was valued at $197.4 billion in 2021 and the technology progresses, the need to safeguard their networks, data, and users from online threats is growing simultaneously, prompting more businesses to invest in cybersecurity solutions.
As an outcome, numerous companies now provide new software or services which are geared toward this industry. With so many options, it might become challenging for businesses to decide which provider will offer cybersecurity offerings that meet their needs. We’ve compiled a list of the Top 6 cybersecurity solution providers to ensure your business is well protected.
Scantist is a cybersecurity company offering application security solutions to assist companies and organizations in safeguarding their web and mobile applications from cyber threats. It started from a security research lab in Nanyang Technological University in 2016. Built upon their extensive research base and deep scientific expertise, they have created an automated platform for you to manage your open-source usage. Up to 90% of codes used in applications are open source and imported by developers, which leaves the software supply chain unchecked and vulnerable to exploitation. Scantist empowers diversity and inclusion to build trustworthy relationships with our employees, partners, investors and customers.
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Noventiq is a cybersecurity and digital transformation solutions provider in over 50 countries. Noventiq’s services span the Aerospace & Defence, Banking, Capital Markets, Communications & Media, Health, and Oil & Gas industries. The company connects 150,000+ organisations from all sectors with 6,000+ best-in-class IT vendors, along with its own services and solutions, to allow, facilitate, and accelerate digital transformation for the businesses of its customers.
Fortinet (FTNT) was in the number two slot last year, and we see no need to change that this year. Despite sales clearing the $4 billion mark, analysts are projecting a 35% annual growth rate for the next five years. The network security vendor is another that doesn’t shy away from rigorous testing, landing the company on 16 of our top cybersecurity software and hardware lists. Fortinet is strongest in its core network security but boasts strength in other key security areas like SIEM and EDR.
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Unsurprisingly, Fortinet has turned its networking expertise into leadership positions in adjacent markets like SD-WAN. Customer satisfaction ratings are high in key areas like product capabilities, value, ease of use and support, which have given it inroads into small business markets as well. Analysts have also lauded the company, joining Palo Alto and others in frequent appearances in Gartner Magic Quadrants and Forrester Wave reports.
With revenue up roughly 200% since our last update, OneTrust has backed up its early promise as few startups can. With annual revenue estimated at $669 million, the $933 million that venture investors have sunk into OneTrust is beginning to look like a bargain, and its $5.3 billion “unicorn” valuation is reasonable. In the crazy market for cybersecurity startups, OneTrust is starting to resemble a blue-chip company. The 7-year-old privacy compliance technology startup has ridden data privacy laws like GDPR and CCPA to rapid growth and high rankings on our risk management, third-party risk management and hot cybersecurity startups lists.
Proofpoint cleared the $1 billion revenue mark before being taken private by Thomas Bravo in 2021. Proofpoint has made securing end users its focus. The Sunnyvale-based company’s SECaaS product portfolio made five of our top product lists, including CASB, data loss prevention (DLP), zero trust, threat intelligence and email gateways. The company provides email protection, network sandboxing, security awareness training, cloud protection and more. Its move into security awareness training via the 2018 acquisition of Wombat Security put the company in a good position to address the biggest security vulnerability of all: the mistakes made by a company’s end users.
Arete is transforming how businesses and governments manage cyber risk through proven incident response, tech-enabled managed services, and powerful data insights. Working on the front lines of thousands of ransomware attacks and some of the largest nation-state attacks, their team combines hundreds of investigative, technical, and cyber risk management practitioners with best-in-class data and software engineers. They bring a relentless passion for innovation and a commitment to stopping cybercrime. They bring that same passion for positively impacting the collective defence of businesses, governments, and infrastructure from cyber criminals and giving back to the communities they serve.