Interest in cross-cloud enterprise security drives growth for Palo Alto Networks

Interest in cross-cloud enterprise security drives growth for Palo Alto Networks

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Palo Alto Networks Inc. has an opportunity to build a layer above the clouds, a supercloud, that provides a common experience for developers and security operations teams.

One indication that the company is pursuing this strategy can be seen in its recent agreement with Google Cloud to provide hybrid users with secure access to applications. This is in addition to a partnership with Amazon Web Services Inc. announced earlier this year, and Prisma Cloud, Palo Alto Networks’ own cloud-native application protection platform.

“The opportunity is to build the security supercloud,” said Dave Vellante (pictured, left), industry analyst for theCUBE. “That means to have a common security platform across all clouds. Irrespective of whether you are running on Amazon, whether you are running on-prem, Google or Azure, the security policies and edits and the way you secure your enterprise look the same.”

Vellante spoke with theCUBE industry analyst Lisa Martin (pictured, right) at Ignite ’22 in the opening keynote analysis segment during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed how Palo Alto Networks can capitalize on evolving trends in enterprise security. (* Disclosure below.)

Tool consolidation

Palo Alto Networks’ supercloud opportunity may be accelerated by signs that enterprise customers are growing weary of security tool sprawl. Data recently provided to SiliconANGLE by Enterprise Technology Research showed that consolidation of redundant vendors is the number one cost optimization strategy for customers today.

“Customers have 20, 30, sometimes 40 different tool sets,” Vellante noted. “It’s a shiny, new toy strategy, that’s how we’ve gotten to this point.”

Palo Alto Networks is on a path to double its revenue from approximately $3.5 billion three years ago to $7 billion in fiscal year 2023, according to an analysis by SiliconANGLE. TheCUBE’s interviews with company executives and partners will shed additional light on how the firm is driving new growth.

“There’s lots of momentum in this cloud security company,” Martin said. “We’re going to understand how this organization is helping customers ultimately achieve their SecOps transformation, their digital transformation, and move the needle forward to become secure data companies.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of Ignite ’22:

(* Disclosure: TheCUBE is a paid media partner for Ignite ’22. Neither Palo Alto Networks Inc., the sponsor for theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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