Palo Alto Networks, Inc. (PANW) and Check Point Software Technologies Ltd. (CHKP) are two prominent players in the cybersecurity space. PANW in Santa Clara, Calif., offers a security platform that allows enterprises, service providers, and government entities to continuously secure all users, applications, data, networks, and devices with comprehensive visibility and context across all locations. It sells its products and services through its channel partners, directly to medium to large enterprises, service providers, and government entities operating in various industries. In comparison, San Carlos, Calif.-based CHKP develops, markets, and supports a range of software and hardware products and services for IT security worldwide. The company offers a portfolio of network security, data and endpoint security, and management solutions and sells them through distributors, system integrators, OEMs, and managed security service providers.
With rapid digitalization happening across industries since the onset of the COVID-19 pandemic, and growing cloud migration to facilitate hybrid working, the demand for cybersecurity solutions to protect sensitive information from cyberattacks and large-scale data breaches has increased. Rising investments by enterprises and governments to protect their data should drive the cybersecurity industry’s growth.
