Palo Alto Networks was the Q1 vendor, growing 24.9%, expanding its market share to 8.4% from 7.8% in Q3 2021.
Cisco is the second largest cybersecurity vendor, maintaining 16.7% growth and 6.9% market share.
Fortinet ranked third with 29.9% growth, according to market research firm Canalys, with a market share of 6.7%, up from 6% a year ago.
Endpoint security was the fastest growing category, growing 18.7% year over year to $2.7 billion.
Network security was the largest category, worth $5.1 billion and growing 14.8%.
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Matthew Ball, Chief Analyst at Canalys said: “The move to subscription-based platforms and increased interest in upselling existing accounts will sustain revenue growth for cybersecurity his vendors over the next 12 months,” he said Ball. added.
According to the report, channel sales account for 90.6% of the total market, with the remaining 9.4% being direct sales with customers.
About $9.6 billion in revenue comes from North America, accounting for 53.8% of global spending.
According to the report, EMEA sales reached $5.2 billion, APAC $2.4 billion and Latin America $600 million.
