Nearly $20 billion of cybersecurity applications were sold globally through channel partners in the fourth quarter of 2024, Canalys analyst Steven Kiernan reported in an update on LinkedIn.
Canalys estimates that spending on cybersecurity technology through the channel increased 10.5% to $19.8 billion in Q3 2024.
The channel represented 91.6% of total end-customer spend, with two-tier partners (via distributors) accounting for 66.7% of total spend.
The top 12 vendors for the channel accounted for 53.5% of total spend.
The top five vendors were:
1. Palo Alto Networks
2. Fortinet
3. Cisco
4. Microsoft
5. CrowdStrike