Arctic Wolf Fastest Growing Vendor by Revenue in 2023 According to Gartner® Market Share: Security Services, Worldwide, 2023 Research
June 04 2024 - 9:00AM
Arctic Wolf®, a leader in security operations, today announced that
in the recently published Gartner® report: “Market Share: Security
Services, Worldwide, 2023”[1], Arctic Wolf has the highest revenue
growth rate of the 46 vendors included. In the report, Gartner also
notes that “The worldwide security services spending grew by 13.6%
to $65.6 billion in 2023 from $57.7 billion in 2022. Security
professional services is the largest security services market with
a 36.9% share in 2023. Managed security services (MSS) emerged as
the fastest-growing security services market with a 17.4% growth.
Managed detection and response (MDR), a subsegment of MSS, grew at
22.6% to $6.1 billion in 2023 from $5.0 billion in 2022.”
The Arctic Wolf Security Operations Platform is the premier
customer choice for organizations globally looking to rapidly
advance critical security operations outcomes, all delivered with
the ease and simplicity of a single unified technology solution.
Leveraging one of the fastest growing open-XDR platforms at scale,
Arctic Wolf has become the security operations platform of record
for organizations worldwide looking to consolidate and reduce the
number of point products they operate within their business.
With its unique Concierge Delivery Model and Security Journey
solutions that drive a distinct advantage for its customers, we
believe Arctic Wolf is not only supporting organizations in staying
resilient in the face of a sophisticated threat landscape, but also
in improving insurability and incident readiness to decisively
reduce cyber risk.
“As threat actors continue to become more advanced, and the
global cybersecurity skills shortage persists, organizations of all
sizes continue to turn to trusted third-parties to help them better
operationalize their cybersecurity investments,” said Nick
Schneider, president and chief executive officer, Arctic Wolf.
“Arctic Wolf is the first vendor to bring to market a technology
platform uniquely spanning the full security operations framework
and we feel our market-leading growth rate demonstrated in this
Gartner report is a direct testament to how well we address the
security needs of our customers. The Arctic Wolf Platform is now
the cybersecurity center of gravity for more than 5,200
organizations globally and we remain committed to delivering
innovative market solutions with speed, efficacy, and a focus on
value.”
As we continually advance the network effects of our platform,
Arctic Wolf now ingests, parses, enriches, and analyzes more than
5.2 trillion security events per week. With its open-XDR
architecture and advanced AI-algorithms, the Arctic Wolf Platform
integrates hundreds of security data sources to power a portfolio
of security operations solutions that include Managed Detection and
Response, Managed Risk, Managed Security Awareness, and Incident
Response.
We believe that with the highest growth rate in the global
security services market, Arctic Wolf continues to entrench itself
not only as a leading cybersecurity platform, but also as a
transformative technology company. In the last 12 months, Arctic
Wolf has been named to the CNBC Disruptor 50 for a third
consecutive year, the Forbes Cloud 100 for a second consecutive
year, and to the inaugural edition of the Fortune Cyber 60.
Additionally, the company was named a Leader in the 2024 IDC
MarketScape for Worldwide Managed Detection and Response Services.
We were also recognized as a Customers’ Choice for the North
America region in the Gartner Peer Insights™ Voice of the Customer
for Managed Detection and Response and received the highest
overall rating and the highest Willingness to Recommend
scores in the January 2024 Gartner Peer Insights™ Voice of the
Customer for Vulnerability Assessment.
Additional Resources:
- Join the conversation with Arctic
Wolf on Facebook, Twitter, LinkedIn, and YouTube
- Visit arcticwolf.com to learn more
about our security operations solutions
- If you’re ready to get started,
request a demo, get a quote, or conduct a Security Operations
Maturity Assessment
- Want to join Arctic Wolf’s Partner
Program? Apply today
1Gartner, “Market Share: Security Services, Worldwide, 2023”,
Shailendra Upadhyay, Rahul Yadav, Akshita Joshi, Matt Milone,
Travis Lee, May 22, 2024.
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About Arctic Wolf:Arctic Wolf® is a global
leader in security operations, enabling customers to manage their
cyber risk in the face of modern cyber-attacks via a premier
cloud-native security operations platform. The Arctic Wolf Security
Operations Cloud ingests and analyzes more than 5.2 trillion
security events a week to help enable cyber defense at an
unprecedented capacity and scale, empowering customers of virtually
any size across a wide range of industries to feel confident in
their security posture, readiness, and long-term resilience. By
delivering automated threat protection, response, and remediation
capabilities, Arctic Wolf delivers world-class security operations
with the push of a button so customers can defend their greatest
assets at the speed of data.
Press Contact:Reagan
McAfeeReagan.mcafee@arcticwolf.com916-996-4969
© 2024 Arctic Wolf Networks, Inc., All Rights Reserved. Arctic
Wolf, Arctic Wolf Platform, Arctic Wolf Security Operations Cloud,
Arctic Wolf Managed Detection and Response, Arctic Wolf Managed
Risk, Arctic Wolf Managed Security Awareness, Arctic Wolf Incident
Response, and Arctic Wolf Concierge Security Team are either
trademarks or registered trademarks of Arctic Wolf Networks, Inc.
or Arctic Wolf Networks Canada, Inc. and any subsidiaries in
Canada, the United States, and/or other countries.