For the fiscal year ending Dec. 31, 2009, 21 percent of Panda Security's total corporate revenues were attributed to its cloud security division, which features the Panda Cloud Protection product line, compared to 7 percent in 2008. The company predicts total corporate revenues from its cloud security services will grow to 30 percent by year-end 2010, reaching 50 percent in five years. Worldwide revenue growth in 2009 for Panda Cloud Protection, which remains the company's fastest growing product line, reached 122 percent over 2008, with strong growth across all of the company's primary territories. These include Latin America (302 percent), Southern Europe Middle East and Africa (313 percent), Asia Pacific (119 percent), Northern and Central Europe (122 percent) and the United States (100 percent).
"As a market leader in cloud security, Panda Security is well-positioned to meet the growing demand for SaaS solutions among SMBs and their service providers," said Juan Santana, CEO of Panda Security. "The strong revenues in our cloud security services products demonstrate not only Panda's ability to retain its first-mover advantage, having introduced our cloud capabilities five years ago, but validates analyst predictions for the emerging cloud security marketplace."
Gartner forecasts that cloud-based services will more than triple in many security segments by 2013. Says Gartner:
"Security applications delivered as cloud-based services will have a dramatic impact on the industry. Enterprises that use cloud-based security controls and to address the new security challenges that cloud-based computing will bring are most likely to prosper."
Panda Security has a long history of industry "firsts" in the cloud security market, including:
-- 2005: The first to launch a fully hosted managed desktop security solution, WebAdmin. Competing solutions offered by McAfee were introduced in late 2006, with several major vendors not launching similar products until 2008 and 2009; -- 2007: The first to incorporate cloud computing into its protection model with Collective Intelligence technology, which automatically analyzes and classifies 99 percent of all new malware in real-time. Today, 100 percent of Panda's corporate and consumer products utilize Collective Intelligence; -- 2009: The first to introduce a free cloud antivirus service, Panda Cloud Antivirus, which received critical acclaim for its incredibly lightweight and effective protection. Panda Cloud Antivirus currently holds the title of Editors' Choice for free antivirus with PCMag.com; -- 2009: The first to introduce a cloud security service that maximizes margins and revenue potential for the channel, Panda Cloud Protection. Cloud Protection provides a fully hosted security service for SMBs and their solution providers, and removes the cost and management overhead of hardware, personnel and other resources dedicated to antivirus protection.
"The channel has undeniably been one of the main growth catalysts for Panda's cloud services in the U.S.," said Rick Carlson, president of Panda Security USA. "Panda Cloud Protection was specially designed with the channel in mind, and our partners recognize the incredible revenue potential and ability to scale their service offerings that this solution brings their organizations."
Further validating its position as the Cloud Security Company, Panda Security has received numerous accolades worldwide for its visionary use of cloud computing. These include being named one of the "20 Coolest Cloud Security Vendors" by CRN Magazine, finalist for ITEurope in the Security-as-a-Service category, Best Security Software at the PC World Latin America Awards, and finalist for the Financial Times Boldness in Business Awards.
About Panda Security
Founded in 1990, Panda Security is the world's leading provider of cloud-based security solutions with products available in more than 23 languages and millions of users located in 195 countries around the world. Panda Security was the first IT security company to harness the power of cloud computing with its Collective Intelligence technology. This innovative security model can automatically analyze and classify thousands of new malware samples per day, guaranteeing corporate customers and home users the most effective protection against Internet threats with minimum impact on PC performance. Panda Security has 56 offices throughout the globe with US headquarters in California and European headquarters in Spain.
Panda Security collaborates with Special Olympics, WWF and Invest for Children as part of its Corporate Social Responsibility policy.
Source: Panda Security