Alexandra Borgeaud
Research expert covering cybersecurity and tech in Latin America
Cybersecurity market leaders - statistics & facts
The history of the cybersecurity industry is a fascinating journey that mirrors the rapid evolution of technological innovations, from the birth of the first computer virus in the 1970s and of the modern internet in the 1980s, to the rise of sophisticated cyber threats in the era of the Internet of Things (IoT), 5G, and artificial intelligence (AI). This journey also saw the emergence of cyber warfare, the rise of major data breaches, and the blistering development of advanced cybersecurity technologies. In this context, some cybersecurity companies have distinguished themselves as global providers of a wide range of services and tools designed to protect individuals and organizations against cyber threats, thanks to their ability to adapt to a rapidly evolving technological and threat landscape.
The key global players are all based in the United States
The continuous development of external threats has brought with it the emergence of multibillion-dollar companies. Among the 10 leading cybersecurity firms in terms of market capitalization, nine were based in the United States. In 2024, California-based Palo Alto was the most valuable company in the cybersecurity sector, with a market capitalization exceeding 87 billion U.S. dollars and revenue amounting to just under seven billion U.S. dollars in 2023. Palo Alto Networks was founded in 2005 by Nir Zuk, a former engineer from Check Point and NetScreen Technologies, and was the principal developer of the first stateful inspection security system and the first intrusion prevention system. Also headquartered in California, Fortinet was founded in 2000 by the former president and CEO of NetScreen, Ken Xie, and has since become one of the leading providers of security solutions like firewalls, endpoint security, and intrusion detection systems, the success of which products has been reflected in strong revenue growth.Adapting to the age of cloud computing and AI
As companies increasingly migrate their workloads to the cloud, cyber threats have grown in both numbers and variety, making security solutions essential to ensuring business continuity. Companies like CrowdStrike, Cloudflare, and Zscaler were founded specifically to provide such solutions in the cloud era and protect digital assets stored on cloud computing platforms. The 2020s saw the emergence of AI-powered cybersecurity solutions, expected to improve threat detection and vulnerability management and accelerate incident response times. As technology continues to evolve, the cybersecurity industry will need to keep pace, with leading companies looking to provide their customers with innovative products and services as they seek to ensure their position in a highly competitive market.
