Fortinet’s cybersecurity is now used in thousands of stores

Cybersecurity solutions developer Fortinet Inc. (FTNT) announced a partnership with a large retail chain. Another success of Fortinet’s SD-WAN network protection technologies indicates the company’s potential in the data protection market. Software-defined distributed SD-WAN networks are becoming more widespread, as they allow you to efficiently organize the distribution of traffic and other IT resources of an enterprise with many branches. 

The Canadian retailer of household goods, Home Hardware, has chosen Fortinet Secure SD-WAN solutions to protect data on a network of approximately 1,100 retail outlets. A single solution will replace several tools from different manufacturers. Thus, Home Hardware will receive a data protection system with centralized management and increased security when working with cloud services, connecting mobile and remote workers. 

The rapid development of SD-WAN networks is becoming a key growth factor for Fortinet. Many organizations choose software-defined networks as the easiest and fastest way to modernize their IT infrastructure in digital transformation. According to the forecasts of MarketsandMarkets Research, the SD-WAN solutions market will grow at an average annual rate of more than 34%. It will increase from $1.9 billion in 2020 to $8.4 billion by 2025. 

There are only a few significant vendors in the SD-WAN cybersecurity segment, and Fortinet has the opportunity to take a considerable share of the promising market. In October last year, the company managed to conclude a partnership agreement with Verizon Business, which added Secure SD-WAN to its package of services for the secure connection of employees working under a hybrid scheme. 

In the third quarter of 2021, Fortinet’s revenue in the IT products segment increased by 50.6% to $337.1 million. In addition, the introduction of new tools may accelerate due to the expansion of the following updates.