Cybersecurity market generated 2x bigger revenue than TikTok in 2020, Q1

Data analyzed by the Atlas VPN research team revealed that the total cybersecurity revenue hit 10.4 billion US dollars during the first quarter of 2020. The number is twice as big as what TikTok, a hyper-popular entertainment application, generated.  

Between January and March of 2020, the online security market generated 10.4 billion dollars in revenue, while TikTok made 46% less, hitting 5.6 billion USD. At the same time, Uber, a ride-hailing taxi application, made 3.5 billion USD in revenue. 

During the first quarter of 2020, network security was the most lucrative field: out of 10.4 billion dollars revenue, network security solutions generated 3.7 bn USD.

Therefore, the cybersecurity market generated a bigger amount of money than TikTok and Uber combined. In total, online security accounted for 10.4 billion dollars, while TikTok and Uber made 9.1 billion dollars. 

Rachel Welsh, the COO of Atlas VPN, shares her thoughts on why cybersecurity surpassed the revenue of two hyper-successful companies combined: 

“Although TikTok skyrocketed during the pandemic, cybersecurity managed to generate more revenue than TikTok and Uber together. It is likely because cybersecurity offers services not only for individuals but for enterprises, too. Companies were making sure to protect their businesses with various online security solutions.” 

In 2020, Q1, Cisco, a high-technology solutions provider, was the leading cybersecurity vendor, accounting for 9.1% of the market share. With 7.8% of market share, Palo Alto Networks company was the second leading vendor, followed by Fortinet, which accounted for 5.9% of the cybersecurity revenue

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