Key Takeaways:
- Stellar Growth: Gigamon announces over 100 percent growth in cloud revenue year-over-year, marking its 38th consecutive profitable quarter.
- Market Leadership: With 67 percent market share, Gigamon dominates the deep observability market, which is forecasted to reach $2B by 2027.
- Innovative Solutions: Introduction of Precryption™ technology and other cutting-edge solutions reinforce Gigamon’s commitment to securing hybrid cloud infrastructures.
A Remarkable Achievement in Cloud Computing
In a striking display of business acumen and technological prowess, Gigamon, a leader in deep observability, has announced a monumental achievement in its cloud business segment for 2023. The company has not only achieved over 100 percent growth in cloud revenue year-over-year but also marked its 38th consecutive profitable quarter. This remarkable growth reflects the increasing global demand for Gigamon’s Deep Observability Pipeline, propelling its recurring revenue to over 70 percent of the total revenue.
Dominating the Deep Observability Market
As Gigamon celebrates its 20th anniversary, its leadership in the deep observability market is more pronounced than ever. According to a report by 650 Group, Gigamon has expanded its leadership position with a commanding 67 percent market share in the first half of 2023. This significant market presence aligns with the predicted expansion of the global deep observability market, forecasted to reach $2 billion by 2027.
Navigating Hybrid Cloud Security Challenges
In the contemporary digital landscape, hybrid cloud infrastructure has become a cornerstone for organizations striving to maintain a competitive edge. However, this shift has introduced complex security challenges. The Gigamon 2023 Hybrid Cloud Security survey, involving 1,000 IT and security leaders, revealed alarming insights. With 90 percent of respondents suffering a data breach in the past 18 months and 70 percent lacking awareness of encrypted traffic blind spots, the need for advanced security solutions is evident.
Deep Observability as a Game-Changer
Alan Weckel, founder and technology analyst of 650 Research, emphasized the significance of deep observability in addressing these challenges. “Deep observability is a game-changer for operations teams, tangibly reducing that complexity,” Weckel stated. He noted Gigamon’s unique position to capitalize on this market growth, highlighting their innovative capabilities like Precryption™ technology and Application Metadata Intelligence.
Securing Hybrid Cloud Infrastructure
Shane Buckley, President and CEO of Gigamon, underscored the escalating threat landscape and the increasing attack surface in cybersecurity. “No organization – large or small – is immune to cybersecurity breaches,” Buckley said. He pointed out that despite economic challenges, hybrid cloud security remains a top priority, with Gigamon’s deep observability pipeline being a cost-effective solution for securing hybrid cloud infrastructure.
2023 Milestones: A Testament to Innovation and Growth
Gigamon’s momentum in 2023 is marked by several key milestones:
- The launch of Gigamon Precryption™ Technology, offering unprecedented visibility into encrypted traffic.
- Significant growth across various sectors, especially in the U.S. public sector, with a customer satisfaction rating of 4.8.
- Expansion of its ecosystem and channel growth, including partnerships with TD SYNNEX and integrations with AWS and Microsoft Security Copilot Partner Private Preview.
- Recognition by Frost & Sullivan as the 2023 Global Company of the Year and accolades in several Fortune and TSIA lists.
The Path Forward: Expanding Horizons
Gigamon’s achievements in 2023 set the stage for continued innovation and growth. The company’s deep observability pipeline is not just a technological advancement; it’s a strategic tool that empowers organizations to secure and manage their hybrid cloud infrastructure more effectively. With its innovative solutions and strong market presence, Gigamon is poised to lead the charge in the evolving world of cybersecurity and cloud technology.
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