Network security appliance, software market revenue rises in H2
The network security appliance and software market revenue increased 6 percent year-on-year to $2.2 billion in the first half of 2016, IHS Markit said.
The market research firm pointed out that Fortinet and Palo Alto Networks continue to post solid growth, and vendors are experiencing minimal impact from macroeconomic issues like Brexit.
IHS Markit believes that security revenue will be less impacted than other areas of IT and telecommunications.
Vendors are reporting strength across their portfolios, as well and strong traction for integration of next-gen advanced threat protection (ATP) and virtualization/cloud applications.
Revenue for data center and carrier appliances and virtual security appliances was $2.4 billion in 2015, and by 2020 it is projected to increase 62 percent to $3.9 billion.
IHS Markit senior research director Jeff Wilson said purpose-built virtual appliances will post the highest growth between 2015 and 2020.