Research
Sector Report

Q3 2021: the evolving cybersecurity landscape

  • Public Equity
  • TMT
  • North America

Cybersecurity has climbed the corporate agenda of late, particularly with home working now the norm rather than the exception, the proliferation of endpoints and cloud adoption in full swing. We looked at numerous companies in different corners of the market in Q3 2021 to understand their competitive positioning and gain insights into this vast industry.

CrowdStrike, a leader in cloud-based endpoint solutions, has expanded dramatically over the past few years, and is a name that has “finally bubbled to the top”, an executive at Solid Border, which partners with vendors to provide clients with cybersecurity solutions, told us. The company has been busy on the M&A front while investing heavily in R&D and its “growth has just really started to explode YoY”. Notable CrowdStrike competitors in terms of endpoint security include SentinelOne, which went public in June 2021, as well as Carbon Black, Cisco, Eset and Bitdefender. While we heard that Palo Alto could at some point give CrowdStrike a run for its money, it was noted that, for now, “CrowdStrike is two or three years ahead” in terms of modules, which, in many cases, “no one else has yet”.

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