Cybercrime is a growing concern, and it is estimated that the annual cost of combating cybercrime will reach US$10.5 trillion by 2025. Cybersecurity companies are working to address this challenge.
As investor interest in this potentially lucrative sector grows, Investment News Network (INN) ranks the 10 largest cybersecurity companies by market cap from eSecurity Planet's list of top cybersecurity companies to watch.
The list released by eSecurity Planet includes 20 cybersecurity companies that are privately owned and publicly traded across a range of exchanges. The company used criteria such as user ratings, product features and benefits, analyst reports, independent security testing, and use cases to evaluate companies in the cybersecurity sector.
The largest cybersecurity companies by market cap shown below are all listed on the Nasdaq and the New York Stock Exchange. Inventory data was current as of market close on January 9, 2025.
1. Microsoft (NASDAQ:MSFT)
Market capitalization: 3.16 trillion US dollars
Share price: 424.56 US dollars
The largest cybersecurity company by market capitalization is Microsoft. The tech giant is a major player in the cloud security market, which includes Cloud Native Application Protection Platform (CNAPP) products and services. In fact, Microsoft is the largest provider of CNAPP solutions, according to KeyBanc Capital.
Prominent cybersecurity firm Security Risk Advisors recently became a member of the Microsoft Intelligent Security Association.
2. Broadcom (NASDAQ:AVGO)
Market capitalization: 3.16 trillion US dollars
Share price: 424.56 US dollars
Global technology company Broadcom has built a wide range of embedded and mainstream security solutions, as well as payment authentication software.
The company expanded its offerings with Symantec Enterprise Cloud in November 2019 by acquiring Symantec's enterprise software division, which has since changed its name to Gen Digital (NASDAQ:GEN). Broadcom's Symantec offerings include Secure Access Service Edge and Zero Trust security.
3. Cisco Systems (NASDAQ:CSCO)
Market value: 235.78 billion US dollars
Stock price: $59.20
For several years, Cisco Systems has increasingly invested in enhancing its cybersecurity services. Today, the company offers a range of products for cloud security, endpoint security, and security analytics. To address the cybersecurity skills shortage, Cisco offers certification programs for IT professionals.
In response to growing security risks in AI-powered applications, Cisco in September 2024 acquired Robust Intelligence, a company that specializes in protecting AI systems from vulnerabilities and attacks.
4. IBM (NYSE:IBM)
Market value: 206.36 billion US dollars
Share price: 223.18 US dollars
IBM Security offers customers an advanced, integrated suite of enterprise security products and services. IBM X-Force helps businesses and organizations integrate security solutions into their daily functions and provides assistance with risk assessment, incident detection, and threat response. The company is harnessing the power of artificial intelligence to combat cybersecurity threats.
In May 2024, IBM announced new X-Force Red testing services focused on identifying and mitigating vulnerabilities in generative AI applications and models. Like Cisco, IBM also offers cybersecurity certification programs.
5. Palo Alto Networks (NASDAQ:PANW)
Market value: 113.41 billion US dollars
Share price: 172.83 US dollars
Palo Alto Networks describes itself as the “global leader in cybersecurity.” The company's security portfolio includes advanced firewalls and cloud-based offerings that protect more than 80,000 organizations across their clouds, networks and mobile devices.
An example of a recently launched offering is Prisma Cloud, which integrates AI across different security domains, including network security, cloud security and security operations. In October 2024, Palo Alto expanded its offerings into the industrial sector.
6. CrowdStrike Holdings (NASDAQ:CRWD)
Market value: 88.36 billion US dollars
Share price: 358.72 US dollars
CrowdStrike Holdings is a software-as-a-service solutions provider. This team of cybersecurity professionals uses advanced endpoint detection and response applications and technologies in our machine learning-powered antivirus protection offerings to ensure breaches are stopped before they happen.
This is another major cybersecurity company that is integrating and adding AI to its security information and event management (SIEM) offerings.
Its new AI-powered functionality for the Falcon Next-Gen SIEM platform was first released in May 2024, including Charlotte AI integration. Then, in July, CrowdStrike announced its Falcon Complete Next-Gen MDR service, which includes data from its SIEM platform and AI capabilities.
7. Fortinet (NASDAQ:FTNT)
Market value: 73.61 billion US dollars
Share price: 96.04 US dollars
Fortinet provides comprehensive cybersecurity infrastructure products and services, such as firewalls, antivirus tools, intrusion prevention, and endpoint security. The company's cybersecurity platform can address critical security challenges and can protect data across digital infrastructure systems, whether in network, application, multi-cloud or edge environments. Fortinet's customer base includes major sports teams, including the Vancouver Canucks NHL hockey team and the Pittsburgh Steelers NFL football team.
8. Z-Skiller (NASDAQ:ZS)
Market value: 28.74 billion US dollars
Share price: 187.78 US dollars
Zscaler's Zero Trust Exchange cloud security platform can be used to secure user-to-application, application-to-application, and device-to-device communications across any network. The company also offers cloud migration services. Zscaler is known for setting the standard in the security service edge space, and claims Zero Trust Exchange is the most widely used security service platform in the world.
In December 2024, the company expanded its partnership with IT services and consulting company Cognizant (NASDAQ:CTSH) where the pair work together to help organizations combat cyber threats by providing an advanced zero-trust, AI-powered cloud security platform.
9. Check Point Software (NASDAQ:CHKP)
Market value: 20.15 billion US dollars
Share price: 183.19 US dollars
Check Point is part of the Unified Threat Management industry, offering a wide range of products to protect users on mobile devices, networks and the cloud. It also provides users with various security management services to prevent future cyber attacks and data breaches.
Check Point acquired Avanan, an email security and cloud collaboration company, in 2021. At the end of 2024, technology research and consulting firm Gartner recognized Check Point as a leader in the 2024 Gartner Magic Quadrant for Email Security Platforms.
10. Okta (NASDAQ:OKTA)
Market value: 14.64 billion US dollars
Share price: 85.46 US dollars
Okta is an identity and access management company that provides cloud software solutions for managing and securing user authentication, as well as building identity controls into applications, website services, and devices. The company invests in artificial intelligence technologies to monitor customer signals and proactively identify potential risks.
Gartner has recognized Okta as a Leader in the 2024 Gartner Magic Quadrant for Access Management for the eighth year in a row.
Cybersecurity FAQs
Is cybersecurity a growing industry?
Cybersecurity is a growing industry – according to Statista, it is expected to reach a compound annual growth rate of 7.58 percent between 2025 and 2029, which will allow it to reach a market value of US$271.9 billion. The largest segment of the cybersecurity market is security services, while cloud security is expected to see the fastest growth.
What are the current trends in cybersecurity?
Today's top trends in cybersecurity include improvements in preventing and mitigating attacks against cloud services, growth in IoT devices, the integration of artificial intelligence and machine learning, multi-factor identification, and the growing threat of deepfakes. Cybersecurity companies that address these current market issues may have an advantage in attracting investors' attention.
Which cybersecurity stocks pay dividends?
Very few cybersecurity stocks pay dividends; However, Cisco Systems and Juniper Networks ( NYSE:JNPR ) are both companies that pay dividends to their shareholders. Both pay a quarterly dividend, with Cisco having an annual dividend yield of 2.7 percent, while Juniper Networks comes in at 2.29 percent. The average annual dividend yield for companies in the technology sector overall is 3.2 percent.
This is an updated version of an article first published by Investment News Network in 2016.
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Securities Disclosure: I, Melissa Pestelli, have no direct investment interest in any company mentioned in this article.
