Palo Alto Networks was the primary vendor within the quarter, rising 24.9 per cent and rising its market share to eight.4 per cent, up from 7.8 per cent in Q3 2021.
Cisco was the second-largest cybersecurity vendor, with development of 16.7 per cent and a flat market share of 6.9 per cent.
Fortinet positioned third, attaining development of 29.9 per cent to succeed in a 6.7 per cent market share, up from 6 per cent a 12 months in the past, in line with market analysis agency Canalys.
Endpoint safety was the fastest-growing class, up 18.7 per cent 12 months on 12 months at $2.7 billion.
Network safety was the biggest class, representing $5.1 billion and rising 14.8 per cent.
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“Many cybersecurity vendors have shifted toward subscription-led business models, which also helped to shield them from the immediate impact of the economic slowdown,” stated Matthew Ball, Chief Analyst at Canalys.
“The move to subscription-based platforms and increased focus on upselling existing accounts will sustain revenue growth for cybersecurity vendors over the next 12 months,” Ball added.
Channel gross sales accounted for 90.6 per cent of the general market, with the opposite 9.4 per cent of gross sales executed instantly with prospects, stated the report.
Around $9.6 billion of gross sales got here from North America, representing 53.8 per cent of worldwide spending.
EMEA gross sales reached $5.2 billion, APAC $2.4 billion and Latin America $0.6 billion, the report stated.