Cybercrime is a growing concern, and it’s estimated that the annual cost of fighting cyber crime will reach US$10.5 trillion by 2025. Cybersecurity companies are working to address the challenge.
The list from eSecurity Planet features 20 privately held and publicly traded cybersecurity companies across a range of stock exchanges. The firm employed criteria such as user reviews, product features and benefits, analyst reports, independent security tests 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 NYSE. Stock data was current as of market close on January 9, 2025.
1. Microsoft (NASDAQ:MSFT)
Market cap: US$3.16 trillion
Share price: US$424.56
The largest cybersecurity company by market cap 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 CNAPP solution provider, 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 cap: US$3.16 trillion
Share price: US$424.56
Global technology firm Broadcom has built a large portfolio of embedded and mainframe security solutions, as well as payment authentication software.
The company broadened its offerings with the Symantec Enterprise Cloud in November 2019 with the acquisition of the enterprise software division of Symantec, which has since changed its name to Gen Digital (NASDAQ:GEN). Broadcom’s Symantec offerings include secure access service edge technologies and zero-trust security.
3. Cisco Systems (NASDAQ:CSCO)
Market cap: US$235.78 billion
Share price: US$59.20
For a number of years now, Cisco Systems has increasingly invested in boosting its cybersecurity services. Today, the company offers an array 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 rising security risks in AI-powered applications, Cisco acquired Robust Intelligence, a company specializing in protecting AI systems from vulnerabilities and attacks, in September 2024.
4. IBM (NYSE:IBM)
Market cap: US$206.36 billion
Share price: US$223.18
IBM’s security division offers customers an advanced and integrated portfolio of enterprise security products and services. IBM X-Force helps businesses and organizations integrate security solutions into their everyday functions and provides help with risk assessment, incident detection and threat response. The company is harnessing the power of AI to combat cybersecurity threats.
In May 2024, IBM announced new X-Force Red testing services that focus 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 cap: US$113.41 billion
Share price: US$172.83
Palo Alto Networks bills itself as “the global cybersecurity leader.” 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 its more recently launched offerings include Prisma Cloud, which integrates AI across various security domains, including network security, cloud security and security operations. In October 2024, Palo Alto expanded its offerings to the industrial sector.
6. CrowdStrike Holdings (NASDAQ:CRWD)
Market cap: US$88.36 billion
Share price: US$358.72
CrowdStrike Holdings is a software-as-a-service solutions provider. This team of cybersecurity professionals uses advanced endpoint detection and response applications and techniques in its machine-learning-powered antivirus protection offerings to ensure breaches are stopped before they occur.
This is another major cybersecurity company that is incorporating AI, adding it to its security information and event management (SIEM) offerings.
Its new AI-powered functions for its Falcon Next-Gen SIEM platform were first released in May 2024, including the integration of its Charlotte AI. Then, in July, CrowdStrike announced its Falcon Complete Next-Gen MDR service, which incorporates data from its SIEM platform and AI capabilities.
7. Fortinet (NASDAQ:FTNT)
Market cap: US$73.61 billion
Share price: US$96.04
Fortinet provides end-to-end 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 networked, application, multi-cloud or edge environments. Fortinet’s client base includes major sports teams, including the Vancouver Canucks NHL hockey team and the Pittsburgh Steelers NFL football team.
8. Zscaler (NASDAQ:ZS)
Market cap: US$28.74 billion
Share price: US$187.78
Cloud security company Zscaler’s Zero Trust Exchange platform can be used to secure user-to-app, app-to-app and machine-to-machine communications over any network. The company also offers cloud migrating services. Zscaler is known for setting the standard in the field of security service edge, and it claims the Zero Trust Exchange is the world’s most-used security service edge platform.
In December 2024, the company expanded its partnership with IT services and consulting company Cognizant (NASDAQ:CTSH) as the pair work together to help enterprises address cyber threats by providing an advanced, AI-enabled zero trust cloud security platform.
9. Check Point Software (NASDAQ:CHKP)
Market cap: US$20.15 billion
Share price: US$183.19
Check Point Software is part of the unified threat management sector, and it offers a wide variety of products to protect users on mobile, 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, a cloud email and collaboration security company, in 2021. At the end of 2024, technological 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 cap: US$14.64 billion
Share price: US$85.46
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 is investing in AI technologies to monitor customer signals and proactively identify potential risks.
Gartner recognized Okta as a Leader in the 2024 Gartner Magic Quadrant for Access Management for the eighth consecutive year.
FAQs for cybersecurity
Is cybersecurity a growing industry?
Cybersecurity is a growing industry — according to Statista, it has a projected CAGR 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 within the cybersecurity market is security services, while cloud security is forecast to experience 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 internet of things devices, the integration of artificial intelligence and machine learning, multi-factor identification and the increasing threat of deepfakes. Cybersecurity companies addressing these current issues in the market may have an advantage in attracting investor attention.
Which cybersecurity stocks pay dividends?
Very few cybersecurity stocks pay dividends; however, Cisco Systems and Juniper Networks (NYSE:JNPR) are two companies that offer dividend payments to their shareholders. Both pay quarterly dividends, with Cisco sporting 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 overall technology sector is 3.2 percent.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.