Network Security Market Flat Again at $3.6B as COVID-19 Slump Continues in the Second Quarter of 2020, According to Dell'Oro Group
REDWOOD CITY, Calif., Sept. 17, 2020 /PRNewswire/ -- According to a recently published report from Dell'Oro Group, the trusted source for market information about the telecommunications, networks, and data center IT industries, the effects of the COVID-19 pandemic continued to reverberate in the network security market. The pause in physical infrastructure projects persisted in 2Q20 as market revenue of $3.6 billion was flat year-on-year (Y/Y). The largest segment—firewalls—posted just a two percent Y/Y revenue increase. In contrast, the momentum to leverage cloud-based security to secure remote users and cloud applications continued in 2Q20 and drove Email Security to grow six percent Y/Y, and Secure Web Gateways to climb 14 percent Y/Y.
"The network security market was still in the grips of the pandemic in 2Q20," said Mauricio Sanchez, Research Director, Network Security and Data Center Appliances. "We foresee the current market dynamics to continue in 3Q20 and only begin shifting again late 2020 or early 2021, coinciding with effective therapies or vaccines for COVID-19. While we expect the overall market to shift back to stronger growth in 2021, we anticipate any recovery to be prolonged," continued Sanchez.
Aditional highlights from the 2Q20 Network Security & Data Center Appliance Quarterly Report:
About the Report
About Dell'Oro Group
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SOURCE Dell'Oro Group
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