Practice's Compounded Annual Growth Rate (CAGR) of 35% Greatly Exceeds Projected 11% Industry Average for 2012-2017 Periods
SAN FRANCISCO, CA--(Marketwired - Mar 1, 2016) - RSA CONFERENCE USA 2016 - Technology solution providers are capitalizing on the rapidly expanding cyber security needs of today's leading enterprises. Surges in demand for mobile and cloud security solutions are driving enhanced practices. Responding to these trends, Westcon-Comstor recruited and nurtured the industry's leading security vendors, developed innovative partner programs and cultivated best practices that help position partners as trusted security experts.
The strategy worked. Sales of the value-added distributor's U.S. Westcon Security Practice surpassed $1 billion last year and its five-year growth exceeded 400%. The practice's compounded annual growth rate (CAGR) of 35% greatly exceeds projected 11% industry average for 2012-2017 periods. [Tweet This] In 2015, leading vendors including Imperva, ForeScout and FireMon, among others, were added to the practice, giving solution providers access to rapidly emerging technologies that typically deliver higher profit potential -- and services opportunities.
"The superb accomplishment of our U.S. Westcon Security business is complemented by our equally strong Comstor Security business," said WestconGroup CEO Dolph Westerbos. "These teams showed tremendous performance over prolonged periods and positioned the channel for greater success by tackling security challenges of today and tomorrow. The channel needs help with technical expertise and solution design to navigate an increasingly dynamic security market -- and Westcon-Comstor's deep enterprise security experience and value-added solutions make the difference."
By 2020, the cyber security market is forecasted to reach US$170 billion with a 9.8% CAGR, according to a report from Markets and Markets. The study also projects the cloud security market to be US$8.7 billion by 2019.
"Our Security Solutions teams have done a remarkable job building the right balance of products, programs and services to help solution providers effectively address this fast-growing market," said Lynn Smurthwaite-Murphy, Westcon-Comstor executive vice president, North America. "We're proud of the deep partnerships we've built with leading enterprise security vendors. Together we achieved an amazing milestone and we're building on this outstanding momentum."
Westcon Security Solutions connects specialty vendors to resellers focused on leading security solutions. The practice helps drive success globally by offering high-value expertise and innovation for solution providers and vendors through business enablement, demand generation and thought leadership.
This specialized focus provides a more targeted, dependable service offering that acts as an extension of solution providers' businesses, offering essential tools and programs, education, business planning, proof-of-concept, technical enablement and marketing support.
Through Westcon Academy, partners gain access to a broad range of educational resources focused on security and other practice areas. These partners are also supported with financial and business-management services ranging from selling and lead-management to pre-sales technical consultation and logistics.
Westcon-Comstor (WestconGroup Inc.) is a value-added technology distributor of category-leading solutions in Security, Collaboration, Networking and Data Center. The company is transforming the technology supply chain through its capabilities in Cloud, Global Deployment and Services. Westcon-Comstor combines expert technical and market knowledge with industry-leading partner enablement programs. Westcon-Comstor delivers results together through its deep partner relationships. The company goes to market under the Westcon and Comstor brands.
Westcon-Comstor's portfolio of market-leading security vendors includes: AlienVault, Arbor Networks, Blue Coat, Check Point, Cisco, F5, FireEye, FireMon, Fortinet, HP Enterprise Security, Juniper, Palo Alto and Pulse Secure, among others.