Extreme Extends Leadership Position in New Cloud-Managed Network Services Report from 650 Group

Rhea-AI Summary

Extreme Networks (Nasdaq: EXTR), a leader in cloud-driven networking, has been identified as the second-ranking vendor in the cloud-managed network services market by 650 Group. With a remarkable 101% growth year-over-year, Extreme outpaces the overall market growth of 38%. Its cloud management platform, ExtremeCloud IQ, is currently trusted to manage nearly 1.6 million network devices daily and is notable for its compliance with key security certifications. The company anticipates ongoing market expansion fueled by innovations in AI and analytics.

Positive

• Extreme is the second leading vendor in the cloud-managed network services market.
• Achieved 101% growth year-over-year, outpacing the market growth of 38%.
• ExtremeCloud IQ manages nearly 1.6 million devices daily, showcasing robust platform usage.
• Strong position in a growing market with anticipated continued expansion due to increasing cloud adoption.

Negative

• None.

SAN JOSE, Calif., June 29, 2021 /PRNewswire/ -- Extreme Networks, Inc. (Nasdaq: EXTR), a cloud-driven networking company, today announced it is one of the fastest growing cloud-managed network service providers and is the second-ranking brand in the industry as reported in 650 Group's June 2021 Cloud-Managed Network Services Report. Extreme is significantly outpacing the market, including the market leader, and holds more market share than the third and fourth ranked vendors combined. 

Key Facts

• According to 650 Group, the cloud-managed network services market experienced 38% growth year-over-year from 2020 to 2021, while Extreme delivered 101% growth during that same period. Extreme was ranked as the second leading vendor in the cloud-managed network services market.
  
• The 650 Group anticipates additional growth in the cloud-managed network services market over the next five years as vendors bring further innovation to the market such as artificial intelligence (AI), analytics, and locationing. The report shows that Wi-Fi 6 market revenues have doubled year-over-year and forecasts that the highest growth access point (AP) types in 2022 will be Wi-Fi 6 and Wi-Fi 6E systems. Wi-Fi 6 ensures networks can support the bandwidth demands of the rapidly increasing number of internal and external IoT devices that flood every organization today.
  
• ExtremeCloud™ IQ is a machine learning and AI-driven cloud management platform that simplifies onboarding, configuration, monitoring, managing, troubleshooting, alerting, and reporting for network infrastructure devices. The platform is trusted to manage nearly 1.6 million network devices each day and counting. All ExtremeCloud IQ Pilot subscribers have automatic access to CoPilot, a new subscription level available within the platform that delivers explainable AI insights for IT network administrators, enabling them to more easily monitor highly distributed network environments.
  
• ExtremeCloud IQ holds multiple industry-first designations. It is the only cloud-agnostic network management solution available on Amazon Web Services, Google Cloud Platform, and Microsoft Azure; it offers public, private, or distributed cloud deployment options; and it is the only cloud platform with unlimited data retention as well as 90-day data retention.
  
• To support compliance requirements, ExtremeCloud IQ is the only cloud network management platform that is currently ISO 27001, ISO 27017, and ISO 27701 certified. The platform complies with Global Data Privacy Regulation (GDPR) and all ExtremeCloud IQ customers retain the ability to delete any of their data at any time. ExtremeCloud IQ has also attained Level 1 status in the Cloud Security Alliance (CSA) Security Trust Assurance and Risk (STAR) program. The platform has unmatched data sovereignty, with 17 Regional Data Centers (RDCs) around the world and a cloud footprint spanning 5 continents in 13 countries.

Executive Perspectives

Chris DePuy, Founder and Technology Analyst, 650 Group
"Over the past year we have seen rapid growth in the cloud-managed network services market as an expanding number of enterprises adopt cloud services. Cloud and wireless technology are critical for today's working world and are a necessity for enterprises looking to succeed in the flexible, distributed environment that exists today. This is a rapidly growing market where Extreme is punching above its weight, and we anticipate the market will continue to expand as leading vendors like Extreme further their cloud offerings."

Wes Durow, Chief Marketing Officer, Extreme Networks
"The value of cloud services for today's enterprise cannot be overstated and is reflected in the fact that cloud is the fastest growing segment of the networking industry. Extreme's strong position in this market was established through unsurpassed network automation capabilities, insights, and performance assurance. We work relentlessly so our customers can stay ahead of the curve by innovating next generation networking solutions powered by the cloud. Extreme is proud of this industry recognition and we look forward to continuing to expand our cloud offerings, which will enable us continue to earn the trust of present and future customers."

Additional Resources

• Read the 650 Group report here
• 650 Group Confirms Extreme is a Cloud Networking Leader Blog Post
• ExtremeCloud IQ Solutions Page
• ExtremeCloud IQ CoPilot Solutions Page
• Extreme is the Fastest Growing Vendor in Omdia 2020 Cloud-Managed Networking Report
• Wi-Fi 6 for Dummies eBook

About Extreme Networks
Extreme Networks, Inc. (EXTR) creates effortless networking experiences that enable all of us to advance. We push the boundaries of technology leveraging the powers of machine learning, artificial intelligence, analytics, and automation. Over 50,000 customers globally trust our end-to-end, cloud-driven networking solutions and rely on our top-rated services and support to accelerate their digital transformation efforts and deliver progress like never before. For more information, visit Extreme's website at https://www.extremenetworks.com/ or follow us on LinkedIn, YouTube, Twitter, Facebook, or Instagram.

Extreme Networks, the Extreme Networks logo, and ExtremeCloud are trademarks or registered trademarks of Extreme Networks, Inc. in the United States and other countries. Other trademarks shown herein are the property of their respective owners.

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SOURCE Extreme Networks, Inc.

FAQ

What are the recent growth figures for Extreme Networks (EXTR)?

Extreme Networks reported a year-over-year growth of 101% in the cloud-managed network services market.

How does Extreme Networks rank in the cloud-managed network services market?

Extreme Networks is ranked as the second-leading vendor in the cloud-managed network services market according to 650 Group.

What is ExtremeCloud IQ and its significance for Extreme Networks (EXTR)?

ExtremeCloud IQ is a cloud management platform that manages nearly 1.6 million network devices daily and is recognized for its compliance with key security certifications.

What is the expected growth trend for the cloud-managed network services market?

The market is expected to continue growing over the next five years, driven by innovations in AI and analytics.

How does Extreme Networks (EXTR) compare with its competitors?

Extreme Networks holds more market share than the third and fourth ranked vendors combined, indicating strong competitive positioning.