Cyber
Centered on CrowdStrike. The interactive map combines refreshed market data for covered tickers with static research snapshots and estimates. Dates and source availability vary by company.
The Adversary
Why this whole map exists — and why the budgets never shrink
The Adversary
Nation-state crews (Salt Typhoon inside US telecoms, Volt Typhoon pre-positioned in critical infrastructure), ransomware gangs, and social-engineering outfits like Scattered Spider — now armed with AI that writes the phishing and finds the exploits. Every breach headline is a budget line for everyone to the right.
The Cloud Giants
The rails security runs on — and the trillion-dollar rivals who bundle it
AMZN — Amazon (AWS)
The infrastructure the Falcon platform runs on and the storefront it sells through: CrowdStrike was the first security vendor to clear $1B in AWS Marketplace sales, and Marketplace private offers now burn down enterprise cloud commitments on security subscriptions.
market cap $2.79T · revenue $776B
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MSFT — Microsoft
The biggest security vendor on earth by revenue and the industry’s frenemy: Defender, Sentinel, and Entra ship bundled into E5 licenses, which is exactly the "good enough and already paid for" pitch every pure-play on this map has to beat.
Why it matters: The bundling threat that caps every pure-play’s pricing power — and, since the July 2024 Falcon outage that took down 8.5M Windows machines, the kernel gatekeeper deciding how deeply third-party agents get to run.
market cap $3.71T · revenue $332B
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GOOGL — Alphabet (Google Cloud)
Bought its way into the room: Mandiant ($5.4B, 2022) for incident response and threat intel, then Wiz ($32B, the largest deal in Google’s history) for cloud security — folded into Google Unified Security to sell alongside GCP.
market cap $4.14T · revenue $446B
Check the data: Yahoo Finance quote & financials · Find SEC filings
The Falcon
The cloud-native endpoint platform that became the industry’s consolidation bet
CRWD — CrowdStrike
The center of the map: the Falcon platform started as a single lightweight endpoint agent and grew into cloud security, identity protection, Next-Gen SIEM, and exposure management sold as modules on one console — the "consolidate onto Falcon" pitch, with Charlotte AI as the agentic layer on top.
Why it matters: The cleanest read on whether security consolidates onto a few platforms or stays a hundred point products. Every rival on this map is either trying to bundle Falcon away, out-platform it, or plug into it.
Outlook: Falcon Flex, the pay-as-you-consume licensing model, is pulling customers into larger multi-module commitments and has become the main growth engine. Management’s long-term target is $10B of ARR, with net new ARR re-accelerating after the outage-era customer-commitment packages rolled off.
market cap $218B · revenue $5B
Check the data: Yahoo Finance quote & financials · Find SEC filings
The Platform War
Everyone wants to be the one vendor the CISO keeps
PANW — Palo Alto Networks
The other consolidation bet: Nikesh Arora’s "platformization" strategy sells network (Strata), cloud (Prisma), and SOC (Cortex XSIAM) as one stack, and the $25B CyberArk acquisition bolted on identity security — the biggest deal in cybersecurity history.
Outlook: Targets $15B of next-generation security ARR by FY2030, betting that customers standardizing on two or three platforms will pick Palo Alto for network-plus-SOC and treat everything else as a feature.
market cap $272B · revenue $12B
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S — SentinelOne
The endpoint challenger that never caught the leader: Singularity competes head-on with Falcon on EDR, Purple AI is its answer to Charlotte, and it lives off deals where a CISO wants a credible second source — or a cheaper one.
market cap $7B · revenue $1B
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The Network Guard
Firewalls, zero trust, and the edge — where the packets get inspected
FTNT — Fortinet
The firewall volume leader with a margin structure nobody else on this map has: FortiGate appliances run on Fortinet’s own ASICs, so it undercuts Palo Alto on price while printing ~28% net margins, and the 2025–26 firewall refresh cycle is its tailwind.
market cap $115B · revenue $8B
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CSCO — Cisco
The networking incumbent that paid $28B for Splunk to own the SOC data layer, then fused it with its firewalls and Hypershield into a security business that now rivals the pure-plays in size — sold through the biggest enterprise sales force in tech.
market cap $430B · revenue $63B
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ZS — Zscaler
The zero-trust pioneer: the Zero Trust Exchange replaces the corporate firewall perimeter with a cloud proxy that inspects every connection, and the Red Canary acquisition (2025) added managed detection to sell the SOC alongside the network.
market cap $28B · revenue $3B
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NET — Cloudflare
The "connectivity cloud": a global edge network that started as DDoS protection and CDN and now sells zero-trust access, SASE, and AI-agent security (plus Workers, its developer platform) to the same buyers Zscaler chases.
market cap $99B · revenue $3B
Check the data: Yahoo Finance quote & financials · Find SEC filings
The Keys & Vault
Who you are and what you can recover — identity and data resilience
OKTA — Okta
The independent identity layer — single sign-on and access management for the workforce and for customer apps — squeezed between Microsoft Entra bundling from above and Palo Alto’s CyberArk push from the side, now pitching identity for AI agents as its next act.
market cap $30B · revenue $3B
Check the data: Yahoo Finance quote & financials · Find SEC filings
RBRK — Rubrik
Backup reinvented as cyber resilience: the Microsoft-backed 2024 IPO sells the immutable copy of your data that lets a company recover from ransomware without paying — the fastest-growing name on this map.
market cap $19B · revenue $2B
Check the data: Yahoo Finance quote & financials · Find SEC filings
The CISO
Where the money ultimately comes from
Enterprises
Global security spending is running past $240B a year and growing double digits regardless of the macro cycle — the one budget a board never cuts after a breach. The fight on this map is over how many vendors each CISO keeps.
Governments
The federal channel: FedRAMP High authorizations, the Pentagon’s CMMC contractor mandates, and CISA’s post-Salt-Typhoon push to harden telecoms and critical infrastructure — slow to win, sticky once won.
Relationships on the map
- Amazon (AWS) supplies CrowdStrike — AWS rails & Marketplace
Falcon runs on AWS, and AWS Marketplace is a major sales channel — CrowdStrike was the first security vendor to pass $1B in Marketplace sales. - Microsoft competes with CrowdStrike — Defender vs Falcon
Defender ships bundled into Microsoft E5 licenses; every Falcon renewal is a fight against "we already pay for Microsoft." - Microsoft partners with CrowdStrike — Threat-actor naming alliance
The two co-published a shared glossary mapping each other’s adversary names (2025), and Microsoft’s post-outage Windows endpoint-security platform sets the rules Falcon’s agent runs under. - Alphabet (Google Cloud) competes with CrowdStrike — Wiz cloud security
Google’s $32B Wiz purchase turned the cloud-security posture market into a fight between Wiz and Falcon Cloud Security. - Alphabet (Google Cloud) competes with Palo Alto Networks — Wiz vs Prisma Cloud
Prisma Cloud was the incumbent cloud-security suite until Wiz took the mindshare; now Google sells it with GCP credits attached. - CrowdStrike competes with Palo Alto Networks — The consolidation war
Falcon Flex vs platformization: both sell the CISO the same dream of fewer vendors, from opposite starting points (endpoint vs network). - CrowdStrike competes with SentinelOne — EDR turf
Singularity is the credible alternative endpoint agent — SentinelOne wins on price and second-source deals, CrowdStrike on platform breadth. - Palo Alto Networks competes with Fortinet — The firewall crown
Palo Alto sells the premium next-gen firewall; Fortinet undercuts it on custom ASICs and wins the volume — the oldest rivalry on the map. - Palo Alto Networks competes with Zscaler — SASE & zero trust
Prisma Access vs the Zero Trust Exchange for the corporate network that no longer has a perimeter. - Cisco competes with CrowdStrike — Splunk vs Next-Gen SIEM
Falcon Next-Gen SIEM is built to pull security data — and the budget — out of Splunk, the incumbent Cisco paid $28B for. - Zscaler competes with Cloudflare — Zero-trust edge
Two cloud edges selling the same replacement for the VPN and firewall: Zscaler from security, Cloudflare from the network up. - Zscaler partners with CrowdStrike — Zero-trust integration
A long-running alliance: Falcon’s device-health signals feed Zscaler’s access decisions, and the two co-sell into the same zero-trust deals. - Okta partners with CrowdStrike — Identity signals
Okta’s identity events flow into Falcon Identity Protection and Next-Gen SIEM; the two share a large customer base and co-sell against Microsoft. - Palo Alto Networks competes with Okta — The CyberArk land grab
Buying CyberArk made Palo Alto an identity-security vendor overnight, putting the platform giant on Okta’s turf. - Rubrik partners with CrowdStrike — Recovery meets detection
Rubrik’s data-resilience telemetry feeds Falcon’s SIEM so a ransomware detection and the clean recovery point live in the same workflow. - CrowdStrike supplies Enterprises — Falcon subscriptions (~$5B/yr)
Roughly $5B of ARR — the overwhelming majority from enterprise subscriptions, increasingly sold as multi-module Falcon Flex commitments. - Palo Alto Networks supplies Enterprises — Platform stack (~$11B/yr)
Firewalls, subscriptions, and now CyberArk identity — the biggest pure-play security revenue base in the world. - Fortinet supplies Enterprises — Firewalls & services (~$8B/yr)
Appliance sales plus the security-subscription and support revenue attached to every FortiGate in the field. - Microsoft supplies Enterprises — Bundled security (~$30B/yr)
Research estimate: Microsoft’s security business passed $20B years ago and is now the largest in the industry, mostly attached to E5 licenses. - CrowdStrike supplies Governments — FedRAMP High Falcon
Falcon holds FedRAMP High and DoD authorizations, making the US government one of its largest and stickiest customers.