Fortinet Shifts Focus to High-Growth Markets, Emphasizing Innovation in Cybersecurity

Fortinet has declared a strategic shift in its business focus to prioritize high-growth markets, with a keen eye on innovation. The company will reorganize its research & development (R&D) and go-to-market (GTM) strategy, centering around three key markets: Secure Networking, Universal SASE, and Security Operations. This move underscores Fortinet’s commitment to delivering value to its customers and fostering a culture of continuous innovation.

Ken Xie, Founder, Chairman of the Board, and CEO at Fortinet, emphasized the significance of this evolution in the company’s strategy. He stated, “Throughout our over 20-year history, Fortinet’s commitment to continual evolution has enabled us to remain at the forefront of innovation that supports our customers in safeguarding their infrastructure and data.”

Strategic Markets and Anticipated Growth:

• Secure Networking Market: This market, encompassing network firewalls, secure switches, access points, and 5G gateways, is expected to grow at nearly 9 percent annually to $86 billion in 2027. Fortinet, a leader in both firewall revenues and units shipped, aims to capitalize on this essential market.
• Universal SASE Market: Predicted to grow nearly 20 percent annually to $36 billion by 2027, this market includes technologies like SD-WAN, SWG, CASB, DLP, ZTNA, SASE, and others. Fortinet stands out as the only company with a SASE solution that can perform all functions in the cloud or in an appliance.
• Security Operations Market: Anticipated to grow just over 14 percent annually to $78 billion by 2027, Fortinet’s SecOps platform is highlighted as the most comprehensive and integrated in the industry, providing a range of cybersecurity technologies.

Fortinet’s Unique Position and Commitment to Innovation:

Fortinet is strategically positioned to deliver integrated solutions in these markets, supported by AI-driven technologies, unified management, and a vast ecosystem. The company will continue to provide OT-aware security capabilities, recognizing the distinctive nature of operational technology (OT) systems.

Fortinet aims to foster innovation through a culture that encourages and rewards creative thinking. The company already boasts an impressive 949 U.S. industry patents, a testament to its commitment to staying at the forefront of cybersecurity innovation.

Major Product Launches and Enhancements in 2023:

The strategic shift has already led to significant product launches and enhancements:

• Secure Networking: Fortinet made advancements in network security and connectivity, introducing the Security Processor 5 (SP5) ASIC for higher-performance appliances. Newer switches were announced for intelligent, scalable connectivity.
• Universal SASE: Innovations across SD-WAN and SSE were introduced to ensure secure access for hybrid workforces. Fortinet expanded its network reach to over 100 global locations through partnerships and investments, reinforcing its commitment to Zero Trust security.
• Security Operations: Enhancements were introduced across the security operations portfolio, with new AI and machine learning capabilities and additional real-time response features.

These strategic shifts in R&D and GTM investments demonstrate Fortinet’s commitment to remaining a leader in the ever-evolving landscape of cybersecurity.