Nokia ranked as a leader in fast-growing XDR security software market by GigaOm

By Globe Newswire Published on May 12, 2023, 07:00 IST

12 May 2023

Espoo, Finland – Nokia today announced that it has been ranked as an industry leader in network security by analysts at GigaOm for the company’s extended detection response market (XDR) security platform that provides communication service providers (CSPs) and enterprises with strong, 5G network defenses through a variety of AI and machine learning capabilities.

GigaOm said it had positioned Nokia as a “fast moving leader” in the rapidly growing XDR security software market, citing the company’s technical capabilities and software expertise. “Nokia demonstrates clarity in its vision and features with its highly capable XDR platform. This solution includes the ability to collect data from a diverse set of sources, a power automation engine, and intuitive dashboards and reporting.“

More details of the report can be found here.

Nokia AI and machine learning are foundational to the company’s XDR solutions and offer CSPs and enterprises threat detection and response capabilities that, among other things, combine data from various security technologies to enable security teams to detect and respond to threats in real time.

The flexible and secure Nokia XDR solution, “NetGuard Cybersecurity Dome,” allows security operations teams to select from a comprehensive use case catalogue to cover their entire critical infrastructure technology, from the Core, Transport to RAN. These use cases detect specific telco network threats and provide predefined actions for the security incidents and remediation management.

Nokia XDR allows CSPs and enterprises to fully digitize their business experience in a hybrid-cloud, Software-as-a-Service (SaaS) environment via a usage-based subscription.

Amid the rising sophistication and frequency of targeted cyberattacks, the XDR security market is projected to grow by nearly 150% in the coming years, from $965 million in 2022 to around $2.4 billion by 2027, according to industry estimates.

Chris Ray, analyst, at GigaOm said: “We evaluated multiple XDR vendors in the market and Nokia’s flexible XDR solution, with the ability to collect data from a diverse set of multi-vendor sources, is a powerful automation engine that provides a broad integration capability.”