Energy companies continue to invest in security solutions: security appliance revenue expanded by 7.6% in the second quarter of 2023 and reached more than $4.2 billion, according to International Data Corp. (IDC). The Unified Threat Management (UTM) and Firewall markets drove the growth with revenue increasing by 9.7%. Intrusion Prevention Systems (IPS) rose 2.3% year over year. However, Content Management and Virtual Private Networks (VPN) both experienced single-digit year-over-year declines.
