Austin, Texas, USA, March 4, 2025
Futurum Launches a New Report Covering Key Moves From Leading Cybersecurity Vendors
As the calendar year 2024 came to a close, the cybersecurity market continued to see significant innovation and growth from key cybersecurity vendors, according to new research from The Futurum Group.
Fernando Montenegro, VP & Cybersecurity Practice Lead at Futurum, said, “We see vendors quickly adapting their product capabilities and roadmaps around multiple use cases for AI, including ‘AI for security’ and ‘security for AI’. At the same time, the increasing availability of platform-centric offerings means customers must do more due diligence, picking vendors that align with their specific needs to ensure long-term growth and success.”
Key Report Findings
- All major cybersecurity vendors are pursuing an aggressive platform-centric approach, strongly centered around security operations. This includes multiple sources of telemetry such as endpoints, networks, identities, applications, cloud environments, and more, providing data to AI-enabled analytics engines to help prioritize and respond to incidents.
- Many vendors continue to acquire smaller technology vendors as ‘tuck-ins’ to their platform approach. They also continue to pursue visible partnerships with other key vendors to extend their reach. This approach capitalizes on the vendor’s existing market and brand presence and potentially provides a faster time-to-market for customer value.
- Essentially, all vendors have embraced AI within their portfolios, both in terms of offering capabilities to help customers secure AI usage within their organizations or using AI themselves for product improvements. Saying that one ‘does’ AI is no longer a differentiation but table stakes.
Market Leaders
Key players such as Microsoft, Palo Alto Networks, Cisco, Fortinet, and others continue to have significant market impact into 2025 as businesses increasingly seek integrated, platform-based offerings. Major trends include the widespread use of AI capabilities, deeper integration of cloud environments, and the need for security offerings to provide meaningful customer prioritization and guidance.
- Microsoft continues navigating its unique position as a technology provider across multiple IT areas, including security. The company is capitalizing on the growing importance of cybersecurity as a strategic item at the highest levels of most organizations.
- Palo Alto Networks has successfully expanded well beyond its initial focus on a network security portfolio into a much broader portfolio covering cloud security, application security, security operations, and more.
- Fortinet offers a vision of a security platform anchored on its decades-long commitment to custom hardware and a highly tuned operating system supporting various security functions. This has enabled the company to support additional functionality in a highly coherent manner, which suits the preferences of many customers.
- Cisco has a notable presence across networking technology and has been able to incorporate widespread interest in AI use cases across the portfolio, including cybersecurity.
- CrowdStrike has successfully translated an endpoint-centric business into a broader cloud-based platform that continues to expand its functionality across many areas of security. As with other vendors, AI and combining technology and services are used extensively to meet different user needs.
- Check Point is at a pivotal time. The transition between executives is likely to give the company new perspectives that it may capitalize on. Check Point has built a well-rounded security portfolio that touches on key areas of cybersecurity, but the company faces intense competition from larger vendors.
- Other vendors are also looking to address customer needs around supporting digital transformation, AI initiatives, and more with a set of offerings that center on security platforms, its own use of AI, and more, in a quest to provide better context and guidance for users.
Figure 1: Estimated vendor segmentation and revenue breakdown for the calendar year 2024.
In 2024 (calendar year), the enterprise cybersecurity market continued to generate significant revenue, with Microsoft, Palo Alto Networks, Fortinet, Cisco, and CrowdStrike leading the way. Microsoft is projected to earn over $21 billion, Palo Alto Networks approximately $8 billion, Fortinet near $6 billion, and Cisco’s security revenue was around $4.2 billion.
Read more in the report “State of the Market – Cybersecurity 1Q2025”.
About Futurum Intelligence for Market Leaders
Futurum Intelligence’s Cybersecurity IQ service provides actionable insight from analysts, reports, and interactive visualization datasets, helping leaders drive their organizations through transformation and business growth. Subscribers can log into the platform at https://app.futurumgroup.com/, and non-subscribers can find additional information on the Intelligence Platform at Futurum Intelligence and our Cybersecurity practice here.
Follow news and updates from Futurum on X and LinkedIn using #Futurum. Visit the Futurum Newsroom for more information and insights.
Other insights from The Futurum Group:
Futurum Research Cybersecurity – Subscribers*
Futurum Research 2025 Key Issues & Predictions
Cybersecurity 2025: AI-Powered Threats, Quantum Risks, and the Rise of Zero Trust
Author Information
Fernando Montenegro serves as the Vice President & Practice Lead for Cybersecurity at The Futurum Group. In this role, he leads the development and execution of the Cybersecurity research agenda, working closely with the team to drive the practice's growth. His research focuses on addressing critical topics in modern cybersecurity. These include the multifaceted role of AI in cybersecurity, strategies for managing an ever-expanding attack surface, and the evolution of cybersecurity architectures toward more platform-oriented solutions.
Before joining The Futurum Group, Fernando held senior industry analyst roles at Omdia, S&P Global, and 451 Research. His career also includes diverse roles in customer support, security, IT operations, professional services, and sales engineering. He has worked with pioneering Internet Service Providers, established security vendors, and startups across North and South America.
Fernando holds a Bachelor’s degree in Computer Science from Universidade Federal do Rio Grande do Sul in Brazil and various industry certifications. Although he is originally from Brazil, he has been based in Toronto, Canada, for many years.
