Amazon Web Services (AWS), IBM, and Cisco are set to benefit from an expected surge in enterprise cybersecurity prevention spending over the next five years, according to a new report from Juniper Research.
Those firms were cited as market leaders in the cybersecurity space by the research firm, which noted those positions highlighted the growing influence of cloud computing on the market.
“Cloud computing has been transformative for businesses, so it is no surprise that two of the biggest cloud computing vendors, AWS and IBM, also lead in the cybersecurity space,” research co-author Damla Sat explained. “For cloud vendors, effective cybersecurity is a basic requirement – by offering in-house cybersecurity solutions, AWS and IBM are capitalizing on their existing large user bases; acquiring businesses and capabilities as needed to enhance their product offerings.”
Oracle and Sophos slid one level lower than the big three, though still occupying the “established leaders” quadrant in the Juniper Research square. Micro Focus rode the border between that top level and a busy “leading challenges” grouping, which included a fistful of established players like Fortinet, Palo Alto Networks, and Splunk.
Enterprise Cybersecurity Spend to SurgeAs for the actual monetary reward, Juniper Research predicts enterprises will increase their overall spending by 26% over the next five years, growing from around $179 billion spent in 2022, to $226 billion spent in 2027.
The report predicts enterprises will spend around $179 billion this year, ratcheting up their budgets by 26% over the next half-decade. Juniper Research noted that the forecast increase is reflective of the increase maturity of the cybersecurity market, “which continues to evolve as new threats emerge.” It specifically cited growing awareness of vulnerabilities and emerging threats, including ransomware and distributed denial of service (DDoS) attacks as key spend drivers.