In a strategic move set to redefine its position in the global cybersecurity market, Fortinet has announced a focused shift in its business model to intensify its presence in three key areas: Secure Networking, Universal Secure Access Service Edge (SASE), and Security Operations. This decision, effective immediately, pivots Fortinet’s research and development (R&D) and go-to-market (GTM) strategies towards these burgeoning segments.

Ken Xie, the visionary Founder, Chairman, and CEO of Fortinet, reflected on the company’s over two decades of leadership in the cybersecurity sector. He underscored Fortinet’s enduring principles of integrating networking and security into a cohesive platform, a concept that continues to resonate in today’s cybersecurity landscape. The company’s decision to pivot towards Secure Networking, Universal SASE, and Security Operations would be a testament to its agile approach and foresight in addressing evolving market demands.

The Secure Networking market, projected to expand to $86 billion by 2027, is a significant area of focus for Fortinet. This sector, encompassing network firewalls, secure switches, and 5G gateways, has been a stronghold for Fortinet, particularly with its growing firewall business and the associated revenue from AI-powered FortiGuard Security Services. Fortinet’s leadership in this domain, both in terms of revenue and units shipped, would make it a critical component of its strategic orientation.

The Universal SASE market, anticipated to grow nearly 20% annually to reach $36 billion by 2027, represents another strategic domain for Fortinet. This segment includes a range of cloud-native networking and security technologies pivotal for implementing zero-trust strategies. Fortinet’s unique positioning in this market stems from its capability to offer SASE solutions that function both in the cloud and as an appliance, unified under a common operating system and management console. This distinct offering recently earned Fortinet a place in the 2023 Gartner Magic Quadrant for Single-Vendor SASE.

In the Security Operations market, expected to grow to $78 billion by 2027, Fortinet’s SecOps platform would stand out as one of the most comprehensive and integrated solutions in the industry. It encompasses a wide array of technologies including EDR, SIEM, SOAR, and NDR. These technologies are integral in helping organizations manage and make sense of their distributed operations.

Over 949 U.S. Industry Patents

Fortinet’s strategic refocusing is not just limited to market segments but also includes a deep investment in operational technology (OT) systems. Differing significantly from traditional IT systems, OT requires specialized security capabilities. Fortinet’s emphasis on delivering OT-aware security solutions across all three strategic areas demonstrates its commitment to reducing risks and securing diverse OT environments effectively.

The company’s innovative drive is evident in its impressive patent portfolio is now boasting over 949 U.S. industry patents. This innovative spirit is mirrored in Fortinet’s recent product launches and enhancements in 2023, which have made significant strides in network security, SD-WAN, and security operations.

Within Secure Networking, Fortinet has introduced the Security Processor 5 (SP5) ASIC and new FortiGate appliances, enhancing networking and security convergence. This advancement would align with Fortinet’s commitment to sustainability, offering power-efficient solutions with minimal environmental impact.

With regard to Universal SASE, Fortinet has expanded its network reach globally through strategic partnerships and its own SASE locations. This expansion is geared towards ensuring secure access for hybrid workforces and simplifying network operations for its clients. Enhancements in Zero Trust Network Access (ZTNA), Data Loss Prevention (DLP), and inline Cloud Access Security Broker (CASB) further solidify Fortinet’s commitment to facilitating a Zero Trust security posture.

The enhancements in Security Operations in 2023 would include tighter integration and improved automation capabilities in detection and response. This progress is complemented by an expanded set of FortiGuard expert services, including Security Operations Center (SOC)-as-a-Service, to augment the skills and efficiency of security professionals.

Fortinet’s reorientation in R&D is matched by a strategic shift in its GTM investments, centered around Secure Networking, Universal SASE, and Security Operations. The cybersecurity solutions vendor is organizing its sales around these strategic areas, backed by training and marketing support, to enhance market penetration and customer engagement.