Boston, MA 06/10/2014 (wallstreetpr) – Networking and other communications product maker Cisco Systems, Inc. (NASDAQ:CSCO) has extended its lead in global security appliance market by generating 11.7 more revenue during the first quarter of the current year. The overall industry has witnessed an uptick of 8% driven by Latin America and Asia/Pacific.
Network Security Share
Cisco Systems, Inc. (NASDAQ:CSCO) generated revenue of $371 million in the first quarter, up 11.7% from $332 million in the year-ago quarter, while its market share advanced to 17.5% from 16.9% in the same period last year, according to a data disclosed by International Data Corporation.
Checkpoint Systems, Inc. (NYSE:CKP) followed the leader with revenue of $272 million, 7.7% higher than $252 million in the previous year quarter. However, its share slackened by ten basis points to 12.8% from 12.9% during the period under review.
The biggest gainers in terms of both revenues, as well as share, are Fortinet Inc. (NASDAQ:FTNT) and Palo Alto Networks Inc (NYSE:PANW). While Fortinet’s revenues increased 23.7% to 150 million from $121 million, its share rose by 90 basis points to 7.1% from 6.2%. Similarly, Palo Alto Networks’ revenue surged 66.1% to $141 million from $85 million and its share jumped to 6.7% from 4.3% in the preceding year quarter.
Juniper Networks, Inc. (NYSE:JNPR) has witnessed a slender 1.2% rise in revenue to $127 million from $125 million, whereas its market share dipped to 6.0% from 6.4%. Others, comprising smaller companies, recorded only 1.1% growth in revenues to $1.06 billion from $1.05 billion, while its market share dropped to 49.9% from 53.3% in the year-ago quarter.
Total Industry Growth
The global security appliance market generated revenues of $2.1 billion during the first quarter representing an uptick of 8.0%. In terms of shipments too, it has recorded 2.4% growth. IDC stated that it was the 18th straight quarter of positive uptick since the fourth quarter of 2009.
The global upside was driven by 20% uptick from Latin America and 13.6% growth in Asia/Pacific, barring Japan. North America recorded 12.1% growth during the same period.
