Digitization of operations and growing adoption of cloud computing increased business’ exposure to large-scale data breaches. This has pushed businesses to increase their investments in cybersecurity solutions, helping the industry thrive. Moreover, rising government investments in cybersecurity because of potential cyberattacks from Russia due to escalating sanctions on the nation should benefit the cybersecurity industry. The global cybersecurity market is expected to grow at a 10.1% CAGR to $210 billion by 2028.
Fortinet, Inc. (FTNT) and Radware Ltd. (RDWR) are two prominent players in the cybersecurity space. FTNT provides broad, integrated, and automated cybersecurity solutions and offers security subscriptions, technical support, and professional and training services worldwide. It serves channel partners and customers in telecommunications, technology, financial services, education, retail, manufacturing, and healthcare. On the other hand, Israel-based RDWR provides cyber security and application delivery solutions for virtual, cloud, and software-defined data centers worldwide. It sells its products primarily to independent distributors, including value-added resellers, OEMs, and system integrators.
