Keep an Eye on these 20 Publicly Listed Cybersecurity Firms
The global cybersecurity market is on an upward trajectory, projected to reach a staggering $657 billion by 2030. This surge can be attributed to the increasing complexity of cyber attacks, the rise of remote workforces, and the expansion of online connections. In this dynamic landscape, publicly traded cybersecurity companies have gained significant popularity.
Three leading companies – Palo Alto Networks, CrowdStrike, and Fortinet – dominate the sector in terms of market capitalization, revenue, and product breadth.
Palo Alto Networks, based in Santa Clara, California, was founded in 2005 and is primarily known for its enterprise firewalls. The company's diversified portfolio includes cloud security (Prisma) and AI-driven threat detection (Cortex). In fiscal year 2023, Palo Alto generated nearly $6.9 billion in revenue, growing 25% year-over-year.
CrowdStrike, a newer company founded in 2011, is a cloud-native cybersecurity provider that has shown rapid growth with its endpoint security products. Based in Austin, Texas, CrowdStrike posted $2.24 billion in revenue in 2023, with a 54% year-over-year growth rate, one of the fastest expansion rates in the industry.
Fortinet, established in 2000 and headquartered in Sunnyvale, California, offers both software and hardware security solutions. It balances strong profitability with growth and has recently seen a stock price increase of over 70%.
Other notable publicly traded companies in the cybersecurity space include Check Point Software Technologies, Rapid7, NortonLifeLock, Splunk, Tenable, Varonis, SolarWinds, Cyren, Globalscape, CyberArk, Rubrik, A10 Networks, Secureworks, F5 Networks, and Absolute Software. These companies, while important players, have smaller scales or more specialized offerings compared to Palo Alto, CrowdStrike, and Fortinet.
Rubrik, based in Palo Alto, California, helps organizations restore work when their infrastructure is attacked, continuously monitor data risks, and uphold data integrity. CyberArk, based in Newton, Massachusetts, specializes in privileged access management for admin accounts and login credentials that oversee private networks used by many enterprise companies.
Splunk, based in San Francisco, California, focuses on security data analytics and SIEM solutions, while Tenable, based in Columbia, Maryland, offers a cloud-native data security platform for threat detection and response, data protection, and compliance measures.
The cybersecurity market continues to evolve, with these top companies leading the way in a global effort to combat increasing cyber threats.
Investing in technology companies, such as Palo Alto Networks, CrowdStrike, and Fortinet, that specialize in finance and cybersecurity is attracting significant attention due to their dominance in the industry. For instance, Palo Alto Networks generates a large portion of its revenue from cloud security and AI-driven threat detection, while CrowdStrike is renowned for its rapid growth in endpoint security products. These trends illustrate the expanding scope of technology and finance in the cybersecurity market.
