Cohesity, a leader in AI-powered data security and management, announced that according to IDC’s Semiannual Software Tracker, Data Replication and Protection Software, Cohesity had the fastest growing worldwide year-over-year revenue growth among the Data Replication and Protection Software market’s top 10 largest competitors in the first half of calendar 2023. According to IDC data, Cohesity had the highest year-over-year revenue growth amongst the top 10 competitors in the market in 2022 and the first half of 2023.
Cohesity has a unique position in a market with sustainable, high growth potential, as security, cloud, and AI have become mission-critical imperatives in nearly every board room and organization. Industries worldwide must secure and manage data in a world of increasing cyberattacks, including ransomware. At the same time, business leaders require faster and deeper insights into data that helps them make better decisions.
Cohesity’s industry-leading growth shows that enterprise customers continue to select Cohesity over its competitors to replace legacy and point solutions. Today, six of the Fortune top ten and 42 of the Fortune 100 have adopted Cohesity solutions.
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“Cohesity’s continued revenue growth shows that customers see not only Cohesity’s strong capabilities in core data protection but also how the company has pivoted quickly and effectively into cyber resilience,” said Phil Goodwin, research vice president, Infrastructure Systems, Platforms and Technologies Group, IDC. “Cohesity’s product portfolio is designed to assist customers in cyber preparedness, including vulnerability scanning, early detection, incident response, and forensic analysis for orchestrated recovery. It also has AI-based anomaly detection that analyzes backup data to compute the odds of an anomaly and identify novel or emergent threats.”
“Cohesity’s business continues to be strong. The most influential industry analysts have validated our industry-leading growth. We are growing in the enterprise and are significantly expanding our data security and Generative AI technologies while steadfastly advancing the number and depth of our strategic partnerships,” said Sanjay Poonen, CEO and president of Cohesity. “All our key metrics indicate we are building a category leader. We are taking share in our market with top-line growth while also aiming to become cash flow positive within our current fiscal year.”
SOURCE: BusinessWire
