FireEye’s new offerings in network security
Earlier in this series, we discussed how FireEye (FEYE) is losing market share to its peers. It’s this increasing competition that prompted the cybersecurity company to launch two new offerings: MVX Smart Grid and Cloud MVX in fiscal 3Q16.
According to FireEye, “Cloud MVX provides a FireEye public cloud deployment of the MVX engine, allowing organizations to shift threat detection to the cloud, making the most intelligent security available anywhere, at any time, on a subscription basis.”
As a private cloud offering, MVX Smart Grid employs MVX Engine and Smart Nodes to examine Internet traffic to detect and terminate external threats. Mandia noted during a November 9, 2016, interview with Benzinga that these offerings provide the “best of breed detection at a price point for folks that might be more cost conscious.”
Apart from Cloud MVX and MVX Smart Grid, its other offerings include NX (Network Security), AX (Malware Analysis), HX (Endpoint Security), EX (Email Security), FX (File Content Security), and Endpoint Forensics. All these offerings are integrated to a threat intelligence and analytics platform.
Expected 2X growth in APT global revenues
FireEye, Forcepoint, Blue Coat (now owned by Symantec), Intel Security (INTC), Symantec (SYMC), and BAE Systems were featured among the top players in the APT (advanced persistent threat) space, according to research by the Radicati Group.
According to the Radicati Group’s research, the global revenue for APT protection offerings could grow from $2.6 billion in 2016 to ~$7.3 billion by 2020, as the above chart shows. The increase in cyber attacks, the proliferation of IoT (Internet of Things), and the increasing requirement to deploy advanced security solutions should drive growth in the APT space.
While FireEye has lost its leadership position in the APT space, if APT global revenues double, it would greatly benefit the company.