Fortinet Market Research Report

Company Overview

Name: Fortinet
Mission of the Company: Securing people, devices, and data everywhere through a wide portfolio of cybersecurity solutions.
Founded: More than 20 years ago in Sunnyvale, California.
Founders: Ken Xie and Michael Xie
Key People: Ken Xie (Founder, Chairman, and CEO), Michael Xie (Founder, President, and CTO)
Headquarters: Sunnyvale, California, USA
Number of Employees: No information is available
Revenue of the Company: Q2 2024 Billings: $1.54 billion (as of June 30, 2024)
What is the Company Known For: Fortinet is renowned for its broad portfolio of over 50 enterprise-grade cybersecurity products and its commitment to secure networking and innovation.

Products

1. FortiGate Next-Generation Firewall (NGFW)

• Description: Provides industry-leading enterprise security for any edge. Built on FortiOS and SPUs, it offers comprehensive threat protection with exceptional performance.

• Key Features: AI-powered security services, SD-WAN integration, and zero-trust network access (ZTNA).

2. FortiAnalyzer

• Description: Delivers centralized logging, analytics, and automation for the Security Fabric.

• Key Features: Unified threat intelligence, real-time detection, advanced compliance reporting.

3. FortiClient

• Description: A lightweight agent that integrates with the Fortinet Security Fabric to deliver endpoint protection and secure access.

• Key Features: Endpoint visibility, automated response, secure remote access.

4. FortiWeb

• Description: Web application firewall that protects web applications and APIs against known and unknown vulnerabilities.

• Key Features: Bot mitigation, API protection, advanced threat analytics.

5. FortiSOAR

• Description: Security orchestration, automation, and response (SOAR) platform, centralized incident management.

• Key Features: Integration with multi-vendor solutions, AI-driven operations, playbook creation.

6. FortiDDoS

• Description: Provides advanced DDoS protection for enterprise data centers.

• Key Features: Real-time DDoS protection, hybrid mitigation architecture.

7. FortiExtender

• Description: Provides secure wireless WAN for any branch deployment and supports 5G/LTE connectivity.

• Key Features: High availability, SD-WAN integration, and flexible management.

Recent Developments

• Recognition and Awards:

• Fortinet was placed highest in Ability to Execute in the 2024 Gartner® Magic Quadrant™ for SD-WAN.

• It was noted as a Leader in the 2024 GigaOm Market Radar for Application and API Security.

• FortiSOAR was recognized by KuppingerCole for leadership across product innovation and market presence.

• Product Launches and Updates:

• Launched the FortiGate 200G Series and FortiAnalyzer 7.6, which include significant improvements in throughput and threat detection capabilities enabled by AI.

• Introduction of FortiAI, a generative AI assistant integrated into FortiAnalyzer, FortiSIEM, and FortiSOAR to guide threat investigation and optimize security operations.

• Release of improved FortiClient with better remote access, ZTNA, and centralized management capabilities.

• Partnerships:

• Fortinet announced as the official cybersecurity partner of Juventus Football Club to enhance network and security resilience.

• Acquisitions:

• Acquired Lacework to bolster its cloud-native application protection capabilities.

• Acquired Next DLP to enhance enterprise data security within its unified SASE solution.

Fortinet continues to lead with robust solutions across various sectors, strengthening its footprint in global cybersecurity through strategic innovation and partnerships while adapting to the rapidly evolving threat landscape.