CrowdStrike is a leading provider of aggregated security intelligence and next-generation endpoint protection. The company’s technology, services, and intelligence-gathering approach help companies and organizations worldwide stop sophisticated cyber-attacks.
CrowdStrike controls 9.2% of the Corporate Endpoint Security market, an industry with a total market share of $8.2 billion as of 2020. A 2022 IDC report ranked CrowdStrike 1st in the Modern Endpoint Security Market with a 14.1% market share. The company’s success is due to its cutting-edge technology, vast experience in the cybersecurity field, and strong partnerships with other leading security providers.
While CrowdStrike is a market leader, the company does face competition from other top cybersecurity providers. This CrowdStrike competitors analysis looks at its leading competitors and how they stack up against CrowdStrike in terms of technology, services, financials, and market share.
Bottom Line Up Front
Competing in the endpoint security market is no mean feat. CrowdStrike has managed to stay ahead of the curve by investing in cutting-edge technology and building strong partnerships. However, the company’s competitors aren’t to be underestimated, as they also offer compelling solutions and have the financial backing to invest in research and development.
List of CrowdStrike Competitors
The following are the leading CrowdStrike competitors:
CrowdStrike Business Strategy
CrowdStrike runs a subscription-based business model through its Falcon platform. This model gives customers the flexibility to choose the features and services they need and only pay for what they use. The company provides immediate visibility and protection across an organization’s entire environment through its technology, including endpoints, devices, users, applications, and networks.
CrowdStrike’s focus on innovation and technology is a crucial driver of its success. For instance, its Falcon XDR module synthesizes multi-domain client data across endpoints, devices, users, applications, and networks. This module provides security teams with a unified view of an organization’s security posture.
CrowdStrike’s go-to-market strategy revolves around its partner ecosystem. The company has built strong relationships with leading security providers, such as Cisco, Microsoft, and Amazon Web Services (AWS). These partnerships help CrowdStrike reach new customers and markets.
CrowdStrike also invests heavily in marketing and sales. The company spent $616,546 on sales and marketing in 2021 from $266,595 in 2020. Spending more on marketing and sales allows CrowdStrike to generate awareness of its brand and products, which is essential for driving new customer acquisition.
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CrowdStrike SWOT Analysis
Below is a detailed SWOT analysis of CrowdStrike:
- Strong Financials: A company’s financial health is a crucial indicator of its overall strength and viability. CrowdStrike financials point to a company in an excellent position to continue its growth trajectory. The company’s revenue grew 66% from 2021 to 2022, reaching $1.45 billion. As of January 31, 2021, its cash and cash equivalents were $2 billion, meaning it has plenty of cash to invest in its business and drive growth.
- Innovative Technology: CrowdStrike’s technology is considered best-in-class, giving it a competitive advantage. The company’s Falcon platform uses artificial intelligence (AI) and machine learning (ML) to detect and respond to threats in real-time. CrowdStrike also focuses on innovation, regularly introducing new features and capabilities to its Falcon platform. This commitment to innovation guarantees that its technology remains at the forefront of the cybersecurity industry.
- Robust Partner Ecosystem: CrowdStrike has built a strong partner ecosystem, which is essential for its go-to-market strategy. The company has partnerships with leading security providers, such as Cisco, Microsoft, and Amazon Web Services (AWS). Through the Falcon Fund, CrowdStrike also invests in other cybersecurity companies. These partnerships help CrowdStrike reach new customers and markets.
- Brand Recognition: CrowdStrike’s brand is well-recognized in the cybersecurity industry. The company has won numerous awards, including the best cybersecurity solution in the AWS Global Public Sector Partner Award in 2021. It also ranked first in 2020’s IDC’s market share report on Modern Endpoint Security Solutions. This brand recognition gives CrowdStrike a competitive advantage in winning new customers.
- High level of competition: CrowdStrike operates in a highly competitive industry. It has no moat to competition, meaning that any company with the necessary resources can enter the market and compete. To stand out in the crowd, CrowdStrike must continue innovating and differentiating its technology by focusing on AI and ML.
- Lack of profitability: CrowdStrike hasn’t been profitable for a long time. For instance, throughout its 2021 fiscal year, it had $119 million in losses from operations. In 2020 it had $77 million in losses, and in 2019 it had $186 million in losses. The company will need to focus on becoming more efficient and reducing its costs to become profitable.
- Growing market: The global cybersecurity market is growing at a rapid pace and is expected to reach $211.70 billion by 2026, up from $1446.36 billion in 2022. This figure represents a compound annual growth rate (CAGR) of 9.68%. CrowdStrike is well-positioned to take advantage of this growth opportunity as it invests in its technology and expands its sales and marketing efforts.
- Entering new markets: CrowdStrike has an opportunity to enter new markets and geographies. Although data protection laws, telecommunication regulations, and information security vary from country to country, the company has the necessary resources to comply with these regulations. Through negotiations and partnerships, CrowdStrike can enter new markets and continue its growth.
- Cybersecurity threats: A decrease in cyber-attacks could lead to a decline in demand for its products and services. In addition, as new threats emerge, CrowdStrike must continually update its technology to stay ahead of the curve.
- Recession and global economic conditions: A recession or general economic downturn could decrease demand for CrowdStrike’s products and services as companies look to cut costs. Economic weakness combined with constrained spending could also lead to increased competition as companies look to enter the market with lower-priced products.
- Changes in government regulations: CrowdStrike operates in a highly regulated industry. Changes in government regulations, such as data privacy laws, could hurt the company’s business. In addition, any changes in the way the government procures cybersecurity products and services could also impact CrowdStrike’s business.
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CrowdStrike Competitor Analysis
CrowdStrike competes in an industry with many large and well-funded companies. Small and early-stage companies also compete in this market. The competitive landscape for endpoint security is rapidly changing, with new entrants and products appearing frequently.
Below is a detailed analysis of how it fares against some of its main competitors.
1. McAfee Corporation
McAfee Corp. is an American computer software company with a focus on cybersecurity. The company develops digital security tools for personal computers and mobile devices. Founded in 1987, the company has its headquarters in San Jose, California. It employs more than 6,900 people and has a global presence in over 170 countries.
McAfee competes with CrowdStrike in several areas, including endpoint security, network security, and cloud security. The company’s main products include McAfee Total Protection, McAfee LiveSafe, McAfee Gamer Security, and McAfee Safe Family, among other products. It controls 9.1% of the corporate endpoint security market if the 2020 research by IDC is anything to go by.
The company trades on the NASDAQ stock exchange under the ticker symbol “MCFE” and has a market capitalization of $4.88 billion as of June 2022. For the period ending December 25, 2021, McAfee reported revenue of $1.92 billion, representing a 23% increase from the previous year. By comparison, McAfee has more revenue and is likely more profitable than CrowdStrike.
McAfee’s competitive advantage comes from its long history in the cybersecurity industry, strong financial position, and global reach. Its partnership with leading PC and mobile device manufacturers ensures it reaches a large customer base and lowers the costs associated with marketing and distribution.
2. Cisco Systems, Inc.
Cisco Systems, Inc. is an American computer networking company focusing on router and switch manufacturing. The company also provides other products and services related to network security, cloud computing, and data center management. Founded in 1984, the company has its headquarters in San Jose, California. It employs over 79,000 people and has a global presence in over 170 countries.
Cisco competes with CrowdStrike in network security, endpoint security, and cloud edge security. It provides advanced malware protection (AMP) for its network security products. Unlike CrowdStrike, it also offers Next-Generation Intrusion Prevention System (NGIPS), a key differentiator. Cisco AMP for Endpoints.
In 2019, Cisco AMP for Endpoints won the Approved Business Product Award by AV-Comparatives. Its recognition as a top product is likely to grow in the coming years as more enterprises adopt it to protect their endpoint devices.
The company has a market capitalization of $187.29 billion as of June 2022 and trades on the NASDAQ stock exchange under the ticker symbol “CSCO”. In 2021, Cisco reported a $49.8 billion revenue increase from $49.3. Cisco’s main competitive advantage is its wide range of products and services, global reach, and strong financial position. Although, CrowdStrike is a strong competitor in endpoint security, Cisco’s other offerings and reaches give it a competitive edge.
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3. NortonLifeLock Inc.
NortonLifeLock Inc., formerly known as Symantec Corporation, is an American software company focusing on cybersecurity. The company provides security solutions for businesses and consumers. Founded in 1982, the company has its headquarters in Tempe, Arizona, and employs over 3600 people.
NortonLifeLock competes with CrowdStrike in endpoint security, network security, and cloud security. The company’s main products include Norton antivirus, Norton internet security, and Norton 360. It also offers other products such as Norton mobile security and Norton family premier.
NortonLifeLock offers its products under the Symantec and Norton brands. However, its endpoint security products come under Broadcom, a company that specializes in semiconductor and infrastructure software. In 2019, Gartner named Symantec, a leader in the endpoint security market.
The company trades on the NASDAQ stock exchange under the ticker symbol “NLOK” and has a market capitalization of $14.13 billion as of June 2022. Its 2021 revenues were $2.551 billion, a 2.5% increase from 2020. NortonLifeLock stands out because of its substantial brand equity, global reach, and innovative products. However, CrowdStrike is a stronger competitor in the endpoint security market.
4. VMware, Inc.
VMware, Inc. is an American software company specializing in virtualization and cloud computing software. Founded in 1998, the company has its headquarters in Palo Alto, California, employing over 37000 people. The company boasts achievements such as being the first company to virtualize the x86 architecture and the first to succeed with desktop virtualization commercially.
VMware competes with CrowdStrike in endpoint security, network security, and cloud security. The anticipated $61 billion acquisition by Broadcom will give it a stronger foothold in the enterprise security market as Broadcom is a leading supplier of semiconductor and infrastructure software. Broadcom will then operate under the name VMware.
Currently, the company has a market capitalization of $54.53 billion and trades on the New York Stock Exchange under the ticker symbol “VMW”. In 2021, it had revenues of $11.76 billion, an 8.84% increase from 2020. VMware’s main competitive advantages include its strong product portfolio, global reach, and market position. CrowdStrike is a strong competitor, especially in endpoint security, but VMware’s other offerings give it a competitive edge.
SentinelOne is an American cybersecurity company specializing in Autonomous AI Endpoint Protection and Prevention. It uses machine learning and artificial intelligence to protect endpoint devices from various threats. Founded in 2013, the company has its headquarters in Mountain View, California, and employs about 1000 people.
The company competes with CrowdStrike in endpoint security and network security. Its main products include SentinelOne Endpoint Protection Platform (EPP) for VDI and DLP, SentinelOne EPP virtual appliance, and SentinelOne EPP Deep Visibility Module. The company differentiates itself from its competitors by its autonomous artificial intelligence technology.
It trades publicly on the New York Stock Exchange under the ticker symbol “S” and has a market capitalization of $6.865 billion as of June 2022. In 2021, it had revenues of $204.8 million, a 120% increase from $93.1 million in 2020.
SentinelOne’s main competitive advantages include its autonomous artificial intelligence technology and focus on endpoint security. Through its focus and innovative products, SentinelOne has emerged as a strong competitor to CrowdStrike. Despite its small size, it’s made significant acquisitions like the $155 million acquisition of big data company Scalyr in 2021.
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How CrowdStrike Stands Out Against Its Competitors
CrowdStrike has a cloud-native platform that provides comprehensive security capabilities, including endpoint protection, detection, response, network protection, and threat intelligence. This platform allows customers to implement security at scale quickly and easily.
CrowdStrike’s Falcon platform is constantly updated with the latest threat intelligence, which allows it to provide real-time protection against the latest threats. Moreover, CrowdStrike’s managed services offering provides 24/7 monitoring and response from a team of expert security analysts. This service helps customers prevent, detect, and respond to threats quickly and effectively.
The company’s branding strategy encompasses its “CrowdStrike Services” and “Falcon Platform” as the two core product offerings. Its focus on these two offerings has helped it establish a strong brand identity in the cybersecurity industry.
CrowdStrike has made several key acquisitions in recent years to further its growth. In 2017, it acquired Payload Security, specializing in malware analysis. In 2020, it acquired Preempt Security, specializing in identity-based security. 2021 saw the acquisition of Humio and SecureCircle. These acquisitions have helped CrowdStrike expand its product offerings and capabilities, solidifying its position as a leading cybersecurity provider.
CrowdStrike Competitor Analysis (FAQs)
Question: Is SentinelOne better than CrowdStrike?
Answer: SentinelOne is a strong competitor to CrowdStrike, especially in endpoint security. It features better MITRE Enguinity ratings in some categories, including CWE-200, CWE-319, and CWE-798. However, CrowdStrike has a more comprehensive feature set, and its Falcon platform integrates with a wider variety of third-party tools.
Question: Why’s CrowdStrike better than its competitors?
Answer: CrowdStrike has several advantages over its competitors. Its cloud-native Falcon platform is more scalable and easier to deploy than on-premises solutions. It also offers better detection and response capabilities, thanks to its behavioral analytics and machine learning technology. Additionally, Crowd Strike’s partnership with Amazon Web Services (AWS) gives it an edge in cloud security.
Question: What is the most unique aspect of CrowdStrike?
Answer: CrowdStrike’s next-generation AV technology is what sets it apart from the competition. It also features EDR, a must-have for any modern security solution. Finally, its focus on the cloud makes it a better choice for organizations moving away from on-premises solutions.
Question: Which is better CrowdStrike or Carbon Black?
Answer: Both CrowdStrike and Carbon Black are leaders in the endpoint security space. The platforms score well in independent tests, and both offer a comprehensive set of features. However, CrowdStrike scores better in MITRE Enguinity ratings, while Carbon Black has better security effectiveness scores from AV-Comparatives.
CrowdStrike competes for market share in an increasingly competitive market for endpoint security solutions. Its cloud-native Falcon platform is a key differentiator, as it is more scalable and easier to deploy than on-premises solutions. Additionally, its focus on the cloud makes it a better choice for organizations moving away from on-premises solutions.
Some of its top competitors include SentinelOne, Carbon Black, Palo Alto Networks (Traps), Symantec (Endpoint Protection), McAfee (Endpoint Security), and Microsoft (Windows Defender). While each of these vendors has its strengths and weaknesses, CrowdStrike is a clear leader in overall functionality and capabilities.
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