Fortinet Grows to Fourth Largest Network Security Company According to Leading Market Research Firm
SUNNYVALE, CA -- (Marketwire) -- 07/25/12 -- Fortinet® (NASDAQ: FTNT) -- a world leader in high-performance network security -- today announced that new IDC research indicates that Fortinet (FTNT) grew to the 4th largest vendor in 2011. According to IDC's Worldwide Network Security 2012-2016 Forecast and 2011 Vendor Shares (doc #235631, June 2012) report, Fortinet also increased its UTM-leading market share to 16.8 percent in 2011.
IDC's market forecast and share report looks at vendor performance in 2011 and uses its proprietary model to forecast market growth in UTM, firewall, VPN and intrusion detection and prevention through 2016. Data in the report shows:
- Fortinet is now the 4th largest network security provider worldwide with a 5.1% market share
- Fortinet's overall UTM market share grew to 16.8%
- The network security market as a whole grew by 6.1% in 2011 to $7.4 billion
- The UTM market segment had the highest network security submarket growth rate in 2011 at 17.4%, growing to $2.2 billion
- IDC expects the UTM submarket to surpass the firewall submarket in 2012, making UTM the largest of the network security submarkets
- IDC forecasts the network security market to reach $10.1 billion by 2016
"Fortinet is growing and gaining market share due to our strong technology advantage, continued innovation, and consistent security vision," said Ken Xie, founder, president and CEO of Fortinet. "Through our broad technology portfolio, we offer industry-leading performance and can address a wide variety of customer needs, whether that be for a firewall, UTM, next-generation firewall or any other combination of network and gateway security features in a single appliance."
According to IDC, the network security solutions are defined as a combination of hardware, software and networking technologies whose primary function is to protect corporate networks and network-embedded resources from disruption caused by external threats. In this market, IDC includes firewall, unified threat management, intrusion detection and prevention and virtual private network products.
Looking forward, IDC cites application awareness and control, the "bring your own device" trend and greater integration of advance malware detection as key network security market drivers. Fortinet has already developed technologies within its product line to address these trends. Fortinet also leverages its FortiGuard labs -- a forward-looking threat research organization -- to spot emerging malware and threats and to create new protections quickly against these. This intelligence, combined with technical innovation, allows Fortinet to consistently deliver products that help its customers stay ahead of the threat landscape.
Fortinet's FortiGate® appliances are consolidating security functionality across wired and wireless architectures in enterprises, managed security service providers (MSSPs) and telecommunications carriers for higher performance and a lower total cost of ownership. Custom FortiASIC-accelerated security technology greatly improves the performance of each appliance's integrated UTM features, including antivirus, firewall, VPN, intrusion prevention, as well as many other security and networking functions, such as Web filtering, anti-spam, WAN optimization and data leakage prevention (DLP). FortiGate systems help provide security protection through updates by Fortinet's FortiGuard® Network, to help guard against the most damaging threats, such as viruses, worms, advanced intrusions and other unwanted network traffic -- around the clock and around the world. FortiGate appliances are integrated with a broad security ecosystem product offering, including messaging, Web application firewall, database security, management and analysis systems and end-point security solutions. FortiGate appliances also contain a wireless controller so that wired and wireless infrastructures are simply implemented and more secure with one security platform. The entire security environment can be easily managed and reported through enterprise scale FortiManager and ForiAnalyzer for a single pane of glass policy and visualization.
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About Fortinet (www.fortinet.com)
Fortinet is a worldwide provider of network security appliances and the market leader in unified threat management (UTM). Our products and subscription services provide broad, integrated and high-performance protection against dynamic security threats while simplifying the IT security infrastructure. Our customers include enterprises, service providers and government entities worldwide, including the majority of the 2011 Fortune Global 100. Fortinet's flagship FortiGate product delivers ASIC-accelerated performance and integrates multiple layers of security designed to help protect against application and network threats. Fortinet's broad product line goes beyond UTM to help secure the extended enterprise -- from endpoints, to the perimeter and the core, including databases and applications. Fortinet is headquartered in Sunnyvale, Calif., with offices around the world.
Copyright © 2012 Fortinet, Inc. All rights reserved. The symbols ® and " denote respectively federally registered trademarks and unregistered trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, FortiGate, FortiGuard, FortiManager, FortiMail, FortiClient, FortiCare, FortiAnalyzer, FortiReporter, FortiOS, FortiASIC, FortiWiFi, FortiSwitch, FortiVoIP, FortiBIOS, FortiLog, FortiResponse, FortiCarrier, FortiScan, FortiAP, FortiDB and FortiWeb. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties, such as IDC and other awarding third parties mentioned, and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, binding specification or other binding commitment by Fortinet, and performance and other specification information herein may be unique to certain environments. This news release may contain forward-looking statements that involve uncertainties and assumptions. Changes of circumstances, product release delays, or other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Fortinet assumes no obligation to update any forward-looking statements and expressly disclaims any obligation to update these forward-looking statements.
Media Contacts: Rick Popko Fortinet, Inc. 408-486-8853 email@example.com