Palo Alto Networks which is known to offer network security solutions has come up with a forecast that cloud and 5G services will boost network security business in upcoming years.
James Yu, the country manager of Palo Alto Taiwan revealed the details when announcing the revenues of the company which touched USD $711 million for its fiscal second quarter of the year, registering an 8% CAGR growth.
As the cloud computing trend is fueling the need for highly secure networks, companies offering network solutions will see a huge business opportunity in adopting 5G technology.
Palo Alto is said to tap this business opportunity by offering innovative solutions which will help it in standing tall among its competitors like Cisco, Huawei and Check Point.
According to industry observers, the company is currently standing third in the gateway security market and is said to have reached the position within a span of just 3 years.
Yu says that one of the major players who will drive the market will be the government and IT sectors along with those companies which are into protecting the critical infrastructures such as gasoline, water, and power.
On a final note, applications which can harness the benefits of 5G will probably be in great demand in coming years. And Palo Alto wants to focus on this business aspect to reap in the financial benefits.
Note- Palo Alto Networks which is listed 8th in the list of Forbes Digital 100 operates with a mission of “protecting lives in the digital age by thwarting successful cyber attacks”.