Deep observability company Gigamon has announced significant cloud business momentum in 2022. Powered by strong global customer demand for the Gigamon Deep Observability Pipeline, the company’s cloud business annual recurring revenue (ARR) grew over 100% year-over-year (YoY).
Driven by the company’s subscription-based model, recurring revenue is now driving over 60 percent of total revenue.
Gigamon has also seen a 94 percent YoY increase in cumulative cloud data volume under management, which now sits at over 2 million terabytes per day, which demonstrates the company’s ability to scale and meet the cloud visibility needs of the largest, most data-in-motion intensive organisations.
Hybrid and multi-cloud infrastructure is critical to success for modern enterprises; however, these complex networks inadvertently create security and performance blind spots that can leave organisations exposed to security threats and attacks.
Over 52 million cyber-attacks took place in the second half of 2022 alone, and tools that can share data between disparate systems have been proven to help security teams better detect incidents across hybrid and multi-cloud environments. This has increased the demand for deep observability tools that enable organisations to identify previously unseen network threats.
As the deep observability market continues to expand and is forecast to reach $2B by 2026, Gigamon has emerged as the market leader with 68 percent market share in the first half of 2022.
“The challenges of securing hybrid cloud environments continue to evolve as threat actors develop new tactics to exploit vulnerabilities created at the intersection of an expanding digital economy, an increasingly mobile workforce, and network complexity,” said Alan Weckel, founder and technology analyst of 650 Group.
“It is no longer sufficient to rely solely on exterior protection, organisations must operate under the assumption that their network has been breached with undetected threat actors lurking within their network.
“Gigamon has established themselves as a market leader in the high growth deep observability market with solutions that harness actionable network-level intelligence to eliminate these security blind spots.”
Shane Buckley, president and CEO of Gigamon, said: “Each of our customers’ hybrid cloud infrastructures is unique; however, the challenges of efficiently managing network complexity while securing valuable data from an evolving array of threat actors are universal.”
“Facing economic headwinds, organisations are under pressure to manage the cost of cloud architectures, and our latest product innovations empower our customers to do so while supporting security at scale. We are proud of our team and the progress we’ve made alongside customers and are excited for the opportunities that lie ahead in 2023.”
To meet the needs of cloud-based IT infrastructures among a global customer base, the Gigamon team succeeded in the following areas:
Delivery of milestone product innovations:
# GigaVUE 6.0 introduced an expansive set of new capabilities to the Gigamon Deep Observability Pipeline, which democratizes security and delivery across NetOps, SecOps, and CloudOps while reducing cross-platform cost and complexity. GigaVUE 6.0 offers full cloud support, providing a single license that covers virtual, cloud, container, and service mesh infrastructure including VMware, AWS, Nutanix, and Google Cloud.
# Gigamon ThreatINSIGHT, the first NDR solution to grant SOC teams the time, historical data, and insights into adversary behavior required to effectively identify security incidents, truncate dwell time and mitigate business risk, is now available on the AWS Marketplace and now includes 365-Day data retention.
Key customers and partners
Strategic customers include Wyndham Hotels, Lockheed Martin, Johns Hopkins Medical Institution, the U.S. Department of Defense, and Australian National University. Gigamon also recently integrated with Sumo Logic and New Relic to mitigate risk against rogue activities such as crypto-mining and peer-to-peer (P2P) traffic.
Growth across the channel
The company continues to develop go-to-market (GTM) solutions to accelerate revenue for its partners and support their needs by addressing hybrid cloud and cloud security challenges with deep observability solutions. These efforts have not gone unnoticed, receiving industry-wide recognition among the channel community in the 2022 CRN Partner Program Guide and representation within the 2022 CRN Women of the Channel.
To learn more about the Gigamon Deep Observability Pipeline, visit our website here.
