Cyber Security top 50 companies: Explosive growth as threats grow exponentially

To say that the cyber-security sector is growing is an understatement of the century.

Threats are ballooning with the convergence of IT, IoT and OT as digitisation drives the move to connect everything to the internet. Over 6.4 billion fake emails are sent every day by nation-state cyber-attack groups, criminal cyber-attack groups and hackers worldwide, says EY’s 2018-2019 Global Information Security Survey. Over two billion private identities are stolen and US$ 3.5 billion (£2.7 billion) in cyber-damages are incurred daily.

Yet the global annual spend on software, hardware and related cyber-security professional services has only risen to US$100 billion (£75 billion), reports the Gartner Group. The change is reflected in the corporate world, where more and more cyber-security companies are listing, major brands are being acquired and new startups are being launched by the day.

SC Media UK ranks the top 50 pure-play, listed cyber-security companies while acknowledging that many of the sector’s product and services providers are primarily in other sectors, such as telecoms and defence contractors that have significant cyber divisions, plus there are also significant privately owned players.

Many global majors, such as McAfee, did not make it to SC's list simply because they are not listed. Companies such as IBM, Microsoft and Cisco have robust cyber-security divisions that are much larger than many of the companies listed here, but they did not make the cut because their core business is not cyber-security. Curiously, BlackBerry managed to sneak in because security is now the dominant part of its business portfolio.

Those in the industry and those who have seen our list in 2018 might find some curious additions and omissions this year.

Mergers, acquisitions and IPOs are rampant in the sector, and that is reflected in the new list as well. Symantec, last year’s leading name, was left out because the company turned private after being acquired by Broadcom this year. Several new entrants, such as Tufin, had their IPO in 2019.

The companies are ranked according to their total market capitalisation in US dollars as on 8 December 2019. There are companies such as Corero, which is based in the US but listed in London. Their market capitalisation has been converted from their listed currencies to US dollars. For others, such as F-Secure of Finland, the revenue details are listed in their national currencies.

We have used the data provided by Yahoo! Finance to compile this year’s list.

1. Splunk

Core business: Security analytics, ransomware prevention
Corporate Headquarters: San Francisco, California, USA
Market Cap (8 December 2019): US$23.33 billion
Total revenue 
January 2019: US$1,803,010K
January 2018: US$1,270,788K 
Growth: 41.88 percent

2. VeriSign

Core business: Internet security solutions
Corporate Headquarters: Reston, Virginia, USA
Market Cap (8 December 2019): US$22.34 billion
Total revenue:
December 2018: US$1,214,969K
December 2017: US$1,165,095K
Growth: 4.28 percent

3. Palo Alto Networks

Core business: Cyber-security software, services
Corporate Headquarters: Santa Clara, California
Market Cap (8 December 2019): US$22.12 billion
Total revenue
March 2019: US$2,899,600K
March 2018: US$2,273,600K
Growth: 27.53 percent

4. Secom Co

Core business: Security systems
Corporate Headquarters: Tokyo, Japan
Market Cap (8 December 2019): JPY2.1 trillion (US$ 19.3 billion)
Total revenue
March 2019: JPY 1,013,823,000K
March 2018: JPY 970,624,000K
Growth: 4.45 percent

5. Fortinet

Core business: Enterprise security solutions
Corporate Headquarters: Sunnyvale, California, USA
Market Cap (8 December 2019): US$18 billion
Total revenue
December 2018: US$1,801,200K
December 2017: US$1,494,930K
Growth: 20.49 percent

6. Check Point

Core business: Firewall, encryption
Corporate Headquarters: San Carlos, California, USA
Market Cap (8 December 2019): US$17.63 billion
December 2018: US$1,916,475K
December 2017: US$1,854,658K
Growth: 3.33 percent

7. Okta

Core business: Enterprise identity management
Corporate Headquarters: San Francisco, California, USA
Market Cap (8 December 2019): US$14.52 billion
Total revenue
January 2019: US$399,254K
January 2018: US$259,990K
Growth: 53.56 percent

8. Crowdstrike

Core business: Endpoint security
Corporate Headquarters: Sunnyvale, California, USA
Market Cap (8 December 2019): US$10.77 billion
Total revenue
January 2019: US$249,824K
January 2018: US$118,752K
Growth: 110.37 percent

9. DXC Technology

Core business: Cyber-security services & solutions
Corporate Headquarters: Tysons, Virginia, USA
Market Cap (8 December 2019): US$9.5 billion
Total revenue
March 2019: US$20,753,000K
March 2018: US$21,733,000K
Growth: -4.5 percent

10. F5 Networks

Core business: Application delivery networking security
Corporate Headquarters: Seattle, Washington, USA
Market Cap (8 December 2019): US$8.38 billion
Total revenue
October 2018: US$2,161,407K
October 2017: US$2,090,041K
Growth: 3.41 percent

11. Juniper Networks

Core business: Threat intelligence & network security
Corporate Headquarters: Sunnyvale, California, USA
Market Cap (8 December 2019): US$8.01 billion
Total revenue
December 2018: US$4,647,500K
December 2017: US$5,027,200K
Growth: -7.55 percent

12. Trend Micro

Core business: Network security
Corporate Headquarters: Tokyo, Japan
Market Cap (8 December 2019): JPY797.07 billion (US$7.34 billion)
Total revenue
December 2018: US$160,410,000K
December 2017: US$148,811,000K
Growth: 7.9 percent

13. Proofpoint

Core business: Email security
Corporate Headquarters: Sunnyvale, California, USA
Market Cap (8 December 2019): US$6.5 billion
Total revenue
December 2018: US$716,994K
December 2017: US$515,289K
Growth: 39.14 percent

14. Zscaler

Core business: Security-as-a-service solutions
Corporate Headquarters: San Jose, California, USA
Market Cap (8 December 2019): US$6.08 billion
Total revenue
August 2019: US$302,836K
August 2018: US$190,174K
Growth: 59.24 percent

15. Avast

Core business: Cyber-attack protection
Corporate Headquarters: Prague, Czech Republic
Market Cap (8 December 2019): CZK132 billion (US$5.72 billion)
Total revenue
December 2018: CZK808,300K
December 2017: CZK652,900K
Growth: 23.8 percent

16. CyberArk

Core business: Privileged access security
Corporate Headquarters: Newton, Massachusetts, USA
Market Cap (8 December 2019): US$4.5 billion
Total revenue
December 2018: US$343,199K
December 2017: US$261,701K
Growth: 31.14 percentGrowth: 31.14 percent

17. BlackBerry

Core business: Secure end-to-end mobility
Corporate Headquarters: Waterloo, Ontario, Canada
Market Cap (8 December 2019): US$3.96 billion
Total revenue
February 2019: US$904,000K
February 2018: US$932,000K
Growth: -3 percent

18. FireEye

Core business: Cyber-security software, services
Corporate Headquarters: Milpitas, California, USA
Market Cap (8 December 2019): US$3.55 billion
Total revenue
December 2018: US$830,950K
December 2017: US$751,086K
Growth: 10.6 percent

19. Verint

Core business: Cyber-intelligence
Corporate Headquarters: Melville, New York, USA
Market Cap (8 December 2019): US$3.46 billion
Total revenue
January 2019: US$1,229,747K
January 2018: US$1,135,229K
Growth: 8.33 percent

20. Qualys

Core business: Cloud security & compliance
Corporate Headquarters: Redwood City, California, USA
Market Cap (8 December 2019): US$3.3 billion
Total revenue
December 2018: US$278,889K
December 2017: US$230,828K
Growth: 20.82 percent

21. Sophos Group

Core business: IT security and data protection
Corporate Headquarters: Abingdon, UK
Market Cap (8 December 2019): US$2.75 billion
Total revenue
March 2019: US$710,600K
March 2018: US$640,700K
Growth: 10.9 percent

22. Mimecast

Core business: Email security
Corporate Headquarters: London, UK
Market Cap (8 December 2019): US$2.7 billion
Total revenue
March 2019: US$340,377K
March 2018: US$261,897K
Growth: 29.97 percent

23. Rapid7

Core business: SecOps cloud security
Corporate Headquarters: Boston, Massachusetts, USA
Market Cap (8 December 2019): US$2.6 billion
Total revenue
December 2018: US$244,091K
December 2017: US$200,940K
Growth: 21.47 percent

24. Tenable

Core business: Cyber-exposure platform
Corporate Headquarters: Columbia, Maryland USA
Market Cap (8 December 2019): US$2.46 billion
Total revenue
December 2018: US$267,360K
December 2017: US$187,727K
Growth: 42.42 percent

25. Varonis Systems

Core business: Data analytics and security
Corporate Headquarters: New York, USA
Market Cap (8 December 2019): US$2.33 billion
Total revenue
December 2018: US$270,288K
December 2017: US$217,364K
Growth: 24.35 percent

26. Sailpoint

Core business: Enterprise identity governance
Corporate Headquarters: Austin, Texas, USA
Market Cap (8 December 2019): US$2.15 billion
Total revenue
December 2018: US$248,920K
December 2017: US$186,056K
Growth: 33.79 percent

27. GB Group

Core business: Identity verification
Corporate Headquarters: Chester, UK
Market Cap (8 December 2019): £1.42 billion (US$1.86 billion)
Total revenue
March 2019: US$188,369K
March 2018: US$157,125K
Growth: 19.88 percent

28. Netscout

Core business: Business assurance services
Corporate Headquarters: Westford, Massachusetts, USA
Market Cap (8 December 2019): US$1.83 billion
Total revenue
March 2019: US$909,918K
March 2018: US$986,787K
Growth: -7.79 percent

29. Ping Identity

Core business: Intelligent identity platform
Corporate Headquarters: Denver, Colorado, USA
Market Cap (8 December 2019): US$1.6 billion
Total revenue
December 2018: US$201,562K
December 2017: US$172,539K
Growth: 16.82 percent

30. ForeScout

Core business: Network security & access control
Corporate Headquarters: Campbell, California, USA
Market Cap (8 December 2019): US$1.59 billion
Total revenue
December 2018: US$ 297,651K
December 2017: US$220,871K
Growth: 34.76 percent

31. Radware

Core business: Application security & delivery
Corporate Headquarters: Tel Aviv, Israel
Market Cap (8 December 2019): US$1.1 billion
Total revenue
December 2018: US$234,404K
December 2017: US$211,369K
Growth: 10.9 percent

32. NCC Group

Core business: Information assurance services
Corporate Headquarters: Manchester, UK
Market Cap (8 December 2019): £0.56 billion (US$0.732 billion)
Total revenue
May 2019: US$329,221K
May 2018: US$306,279K
Growth: 7.5 percent

33. OneSpan

Core business: Authentication & e-signature solutions
Corporate Headquarters: Chicago, Illinois, USA
Market Cap (8 December 2019): US$0.689 billion
Total revenue
December 2018: US$212,280K
December 2017: US$193291K
Growth: 9.8 percent

34. F-Secure

Core business: Internet security for all devices
Corporate Headquarters: Helsinki, Finland
Market Cap (8 December 2019): EUR0.536 billion (US$0.594 billion)
Total revenue
December 2018: US$211,393K
December 2017: US$188,081K
Growth: 12.39 percent

35. Tufin

Core business: Network security policy orchestration
Corporate Headquarters: Boston, Massachusetts, USA
Market Cap (8 December 2019): US$0.582 billion
Total revenue
December 2018: US$84,981K
December 2017: US$64,540K
Growth: 31.67 percent 

36. Fingerprint Cards

Core business: Fingerprint biometrics
Corporate Headquarters: Gothenburg, Sweden
Market Cap (8 December 2019): SEK4.9 billion (US$0.519 billion)
Total revenue
December 2018: SEK1,535,100K
December 2017: SEK2,966,000K
Growth: -48.24 percent

37. MobileIron

Core business: Enterprise mobility management
Corporate Headquarters: Mountain View, California, USA
Market Cap (8 December 2019): US$0.504 billion
Total revenue
December 2018: US$193,192K
December 2017: US$176,491K
Growth: 9.46 percent

38. A10 Networks

Core business: DDoS cyber-attack protection
Corporate Headquarters: San Jose, California, USA
Market Cap (8 December 2019): US$0.489 billion
Total revenue
December 2018: US$232,223K
December 2017: US$235,429K
Growth: -1.36 percent

39. AhnLab

Core business: Internet security solutions
Corporate Headquarters: Gyeonggi-do, South Korea
Market Cap (8 December 2019): KRW0526 billion (US$0.440 billion)
Total revenue
December 2018: KRW156,550M
December 2017: KRW147,620M
Growth: 6.05 percent

40. Zix Corporation

Core business: Email encryption & data protection
Corporate Headquarters: Dallas, Texas, USA
Market Cap (8 December 2019): US$0.357 billion
Total revenue
December 2018: US$70,478K
December 2017: US$65,663K
Growth: 7.33 percent

41. Mitek

Core business: Digital identity verification
Corporate Headquarters: California, USA
Market Cap (8 December 2019): US$0.269 billion
Total revenue
December 2018: US$63,559K
December 2017: US$45,390K
Growth: 40.02 percent

42. Absolute

Core business: Endpoint visibility & control
Corporate Headquarters: Vancouver, Canada
Market Cap (8 December 2019): CAD0.355 billion (US$0.268 billion)
Total revenue
June 2018: US$98,909K
June 2017: US$93,622K
Growth: 5.64 percent

43. Globalscape

Core business: Secure file transfer
Corporate Headquarters: San Antonio, Texas, USA
Market Cap (8 December 2019): US$0.186 billion
Total revenue
December 2018: US$34,416K
December 2017: US$33,891K
Growth: 1.55 percent

44. CYREN

Core business: Web, email & mobile security
Corporate Headquarters: McLean, Virginia, USA
Market Cap (8 December 2019): US$0.079 billion
Total revenue
June 2018: US$35,900K
June 2017: US$30,799K
Growth: 16.56 percent

45. Precise Biometrics AB

Core business: Mobile identity authentication
Corporate Headquarters: Lund, Sweden
Market Cap (8 December 2019): SEK0.579 billion (US$0.061 billion)
Total revenue
December 2018: SEK67,645K
December 2017: SEK61,039K
Growth: 10.82 percent

46. Finjan Holdings

Core business: Cyber-security IP licensing
Corporate Headquarters: East Palo Alto, California, USA
Market Cap (8 December 2019): US$0.053 billion)
Total revenue
December 2018: US$82,300K
December 2017: US$50,484K
Growth: 63.02 percent

47. Clavister

Core business: Network security
Corporate Headquarters: Ornskoldsvik, Sweden
Market Cap (8 December 2019): SEK 0.412 million (US$0.043 billion)
Total revenue
December 2018: SEK111,772K
December 2017: SEK99,584K
Growth: 12.23 percent

48. CynergisTek

Core business: Healthcare cyber-security
Corporate Headquarters: Mission Viejo California
Market Cap (8 December 2019): US$0.032 billion
Total revenue
December 2018: US$71,106K
December 2017: US$71,639K
Growth: -0.744 percent

49. aurionPro

Core business: Enterprise security
Corporate Headquarters: Navi Mumbai, India
Market Cap (8 December 2019): INR1.4 billion (US$0.019 billion)
Total revenue
March 2019: INR5,221,508K
March 2018: INR4,184,557K
Growth: 24.58 percent

50. Corero

Core business: DDoS defencse & security solutions
Corporate Headquarters: Hudson, Massachusetts, USA
Market Cap (8 December 2019): GBP0.014 billion (US$0.018 billion)
Total revenue
December 2018: US$9,951K
December 2017: US$8,531K
Growth: 16.64 percent

source scmagazineuk

Industry: Cyber Security