The global cybersecurity market reached 17.8 billion US dollars in Q3, a year-on-year increase of 15.9%

According to a report released by market research firm Canalys, the global cybersecurity market reached $17.8 billion in the third quarter of 2022, a year-on-year increase of 15.9%.

Among them, Palo Alto Networks was the largest vendor this quarter, with a year-on-year growth of 24.9%, and its market share increased from 7.8% in the third quarter of 2021 to 8.4%; Cisco is the second largest network security vendor, with an annual growth rate of 16.7% and a market share of 6.9%, unchanged from the third quarter of 2021; Fortinet’s market share has increased to 6.7% compared to 2021, ranking third.

 

Canalys also pointed out that endpoint security is the fastest-growing subcategory, with a year-on-year growth of 18.7%, reaching $2.7 billion. Network security is the largest subcategory in terms of volume, accounting for $5.1 billion and growing by 14.8%.

 

Canalys also pointed out that North America is currently the largest cybersecurity market, with expenditures reaching $9.6 billion, accounting for 53.8% of global total expenditures. Meanwhile, North America is also the fastest-growing market, reaching 17.1%. The cybersecurity expenditure in Europe, the Middle East, and Africa reached 5.2 billion US dollars, the Asia Pacific region was 2.4 billion US dollars, and Latin America was 600 million US dollars.