Palo Alto Networks Recognized as a Leader in Operational Technology Security Solutions

Rhea-AI Summary

Palo Alto Networks (NASDAQ: PANW) has been recognized as a Leader in The Forrester Wave™: Operational Technology (OT) Security Solutions, Q2 2024. Achieving the highest scores in strategy and current offerings, the company excels in integrating IT and OT security. The Forrester report highlights Palo Alto Networks' Zero Trust OT Security Solution, emphasizing deep visibility, threat protection, and advanced security features such as policy recommendations based on traffic patterns. This marks the third time in June 2024 that Palo Alto Networks has been named a Leader in Forrester reports, also being recognized for Extended Detection and Response and Incident Response.

Positive

• Palo Alto Networks received the highest scores in strategy and current offerings in The Forrester Wave™: OT Security Solutions, Q2 2024.
• The company is recognized for its comprehensive end-to-end OT security platform.
• Palo Alto Networks excels in both IT and OT integration, making it suitable for a wide range of industrial systems.
• Advanced features include automatic recommendations for new security policies based on traffic patterns.
• This is the third Forrester Wave™ report in June 2024 where Palo Alto Networks has been positioned as a Leader.
• The company's Zero Trust OT Security Solution offers deep visibility, threat protection, and policy recommendations.
• Palo Alto Networks is recognized in 24 cybersecurity product categories by industry analysts.

Negative

• The press release does not provide specific financial data or metrics to support the claims of operational success.
• There is no mention of new customer acquisitions or revenue growth directly resulting from the recognitions.
• The report's positive recognition may not immediately translate into increased stock value or investor confidence without quantifiable business metrics.

Comprehensive end-to-end platform solves multiple use cases with OT expertise and capabilities 

SANTA CLARA, Calif., June 11, 2024 /PRNewswire/ -- Palo Alto Networks^® (NASDAQ: PANW), the global cybersecurity leader, announced today it has been recognized as a Leader in The Forrester Wave™: Operational Technology Security Solutions, Q2 2024. Palo Alto Networks received the highest scores in both the strategy and current offering categories. According to the report, "It envisions seamless integration of IT and OT in a comprehensive platform tailored to the unique challenges of industrial systems."

Anand Oswal, SVP and GM, Network Security, Palo Alto Networks
"Critical infrastructure and OT environments are the backbone of our digital way of life. We have been helping to protect OT environments in a world where IT and OT are increasingly converging. We are excited that Forrester recognizes us as a leader in OT security solutions. Palo Alto Networks unparalleled end-to-end OT security platform offers deep visibility, threat protection and policy recommendations, protecting the future of industrial technologies."

Forrester's report evaluated Palo Alto Networks Zero Trust OT Security Solution platform and states, "Palo Alto Networks is ideally suited for existing Palo Alto Networks customers and any organization that needs a network-led comprehensive platform spanning IT and OT to simplify security operations." It also notes, "Palo Alto Networks excels at network security including 5G and offers advanced features like automatically recommending new network security policies based on learned inbound and outbound traffic patterns." The report notes that OT security solutions customers should look for providers that:

• Have the right mix of IT, IoT, and OT expertise and capabilities
• Provide an integrated platform solving multiple use cases
• Offer preventative capabilities alongside detection

The Forrester report notes how "Palo Alto Networks has a compelling end-to-end OT security platform. Palo Alto Networks offers a full stack of OT cybersecurity capabilities covering security operations, network, cloud, endpoint, and threat intelligence." 

Palo Alto Networks was recognized among 15 vendors and evaluated across three high-level categories: current offering, strategy and market presence. To read The Forrester Wave™: Operational Technology Security Solutions, Q2 2024 report, download your complimentary copy today.

This is the third Forrester Wave™ report from June 2024 in which Palo Alto Networks has been positioned as a Leader. Palo Alto Networks was also named a Leader in both The Forrester Wave™: Extended Detection and Response, Q2 2024 and The Forrester Wave™: Incident Response, Q2 2024. In total, Palo Alto Networks currently is recognized in 24 cybersecurity product categories by the industry analyst community.

To learn more, read our blog or visit Palo Alto Networks Zero Trust OT Security website. 

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About Palo Alto Networks
Palo Alto Networks is the world's cybersecurity leader. We innovate to outpace cyberthreats, so organizations can embrace technology with confidence. We provide next-gen cybersecurity to thousands of customers globally, across all sectors. Our best-in-class cybersecurity platforms and services are backed by industry-leading threat intelligence and strengthened by state-of-the-art automation. Whether deploying our products to enable the Zero Trust Enterprise, responding to a security incident, or partnering to deliver better security outcomes through a world-class partner ecosystem, we're committed to helping ensure each day is safer than the one before. It's what makes us the cybersecurity partner of choice.

At Palo Alto Networks, we're committed to bringing together the very best people in service of our mission, so we're also proud to be the cybersecurity workplace of choice, recognized among Newsweek's Most Loved Workplaces (2023, 2022, 2021), with a score of 100 on the Disability Equality Index (2023, 2022), and HRC Best Places for LGBTQ+ Equality (2022). For more information, visit www.paloaltonetworks.com.

Palo Alto Networks and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. 

This press release contains forward-looking statements that involve risks, uncertainties and assumptions, including, without limitation, statements regarding the benefits, impact, or performance or potential benefits, impact or performance of our products and technologies. These forward-looking statements are not guarantees of future performance, and there are a significant number of factors that could cause actual results to differ materially from statements made in this press release. We identify certain important risks and uncertainties that could affect our results and performance in our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q, and our other filings with the U.S. Securities and Exchange Commission from time-to-time, each of which are available on our website at investors.paloaltonetworks.com and on the SEC's website at www.sec.gov. All forward-looking statements in this [press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

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SOURCE Palo Alto Networks, Inc.

FAQ

What recognition did Palo Alto Networks receive in June 2024?

Palo Alto Networks was recognized as a Leader in The Forrester Wave™: Operational Technology Security Solutions, Q2 2024.

What are the key strengths of Palo Alto Networks' OT security solutions according to Forrester?

Forrester highlighted Palo Alto Networks' deep visibility, threat protection, and policy recommendations based on traffic patterns as key strengths.

How many Forrester Wave™ reports named Palo Alto Networks as a Leader in June 2024?

Palo Alto Networks was named a Leader in three Forrester Wave™ reports in June 2024.

What makes Palo Alto Networks suitable for OT security according to Forrester?

Palo Alto Networks' comprehensive platform that integrates IT and OT security, offering advanced features and deep visibility, makes it suitable for OT security.

What advanced features does Palo Alto Networks' OT security solution offer?

The solution offers features like automatic recommendations for new network security policies based on learned traffic patterns.