CrowdStrike Emerges as a Leader in Cybersecurity Channel Sales Growth According to Independent Channel Analyst Firm Canalys

Rhea-AI Summary

CrowdStrike (Nasdaq: CRWD) named growth leader in cybersecurity channel sales, with 39.1% year-on-year growth rate, according to Canalys report

Positive

• CrowdStrike's impressive 39.1% year-on-year growth rate in channel sales solidifies its position as a leader in the cybersecurity market, potentially attracting investor interest and driving stock performance.

Negative

• None.

Report also identifies CrowdStrike as the channel leader in endpoint market share

AUSTIN, Texas--(BUSINESS WIRE)-- CrowdStrike (Nasdaq: CRWD) has been named a growth leader among cybersecurity companies selling through the channel, according to a report released by Canalys, an independent analyst firm. CrowdStrike surpassed the 12 cybersecurity vendors identified in the report, with a year-on-year percentage growth rate of 39.1 for overall channel sales.

“Cybersecurity makes up about $80 billion today in software and hardware. Partners earn $2 in services for every $1 of software and hardware that is sold in cybersecurity today. Out of every category and sub-category, channel services are growing faster over the next 4-5 years. CrowdStrike is outgrowing the overall cybersecurity market,” said Jay McBain, Chief Analyst at Canalys. “It has established itself as one of the fastest growing cybersecurity companies in the channel over the last 5-6 years.”

According to Canalys, channel sales account for 91.5 percent of all cybersecurity technology spending with resellers, system integrators and MSSP partners comprising 92 percent of the endpoint security channel market.

The research also recognizes CrowdStrike as the worldwide leader in endpoint security sales, with an 18.5 percent market share in Q2 2023. Canalys attributes CrowdStrike’s ability to deliver growth at significant scale to its channel-led business model, with recent highlights including CrowdStrike’s new Accelerate Partner Program, Falcon Complete for Service Providers, CrowdStrike MarketPlace, and its CrowdCredit reward program.

CrowdStrike has also recently been honored with CRN’s Partner of the Year and AWS’s 2023 ISV Partner of the Year awards.

“CrowdStrike puts partners in the driver’s seat to help businesses of all sizes stop breaches. Our AI-native platform, mission-driven team, and industry-leading partner program is tuned to deliver long term customer success,” said Daniel Bernard, chief business officer at CrowdStrike. “As the world faced macro challenges, we doubled down on our partners, investing in their futures with entertaining education, value selling tools, and disruptive go-to-market programs. Canalys’ research illustrates the return on our investments and the efficacy of our partner-first strategy. I couldn’t be more proud of our partners - and the growth they’re experiencing – by leading with CrowdStrike as cybersecurity’s platform consolidator of choice.”

About CrowdStrike

CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data. Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value.

CrowdStrike: We stop breaches.

Learn more: https://www.crowdstrike.com/
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© 2023 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108029764/en/

Kevin Benacci

CrowdStrike Corporate Communications

press@crowdstrike.com

Source: CrowdStrike

What is the name of the company mentioned in the press release?

The company mentioned in the press release is CrowdStrike, with the ticker symbol Nasdaq: CRWD.

What was CrowdStrike's year-on-year percentage growth rate in overall channel sales?

CrowdStrike's year-on-year percentage growth rate in overall channel sales was 39.1%.

Who released the report mentioned in the press release?

The report was released by Canalys, an independent analyst firm.

How many cybersecurity vendors were identified in the report?

The report identified 12 cybersecurity vendors.

What does the report identify CrowdStrike as in the endpoint market share?

The report identifies CrowdStrike as the channel leader in endpoint market share.