“I see this trend will last for the next few years; it will be a pretty long-term change.”

In context

“Ken Xie (Founder, Chairman and CEO): It’s Ken. So, we do see a lot of customers, especially enterprises, starting to design some new infrastructure to support work from anywhere and also expand security beyond the traditional network security, to internal segmentation to prevent ransomware attacks, or go to work from home and at the same time have multiple security products need to be automated together. So we see this kind of consolidation on both the product side and the vendor side. I see this trend will last for the next few years; it will be a pretty long-term change. And at the same time, Keith also mentioned the elevated security environment as a driver. That’s where we see the trend continuing for the next few years. If you look at the billing number compared to two years ago, I mentioned in my script that we have over a 35% billing increase in the last five quarters compared to two years ago—Q1 2020, which had only about a 14% growth. So, we do see a change in acceleration and the convergence and consolidation going on in the whole space right now that will be a significant driver of growth.”