“I believe product and hardware will keep growing at 10% to 15%, which will be the normal growth rate for us, while also gaining market share.”

In context

“Ken Xie (Founder, Chairman and CEO): Let me clarify. My comment is that the normal growth rate should be around 10% to 15%, not specifically for 2026. That's what I believe over the next 5 to 10 years. The normal product hardware growth will be 10% to 15%. That tracks quite well with the last 16 years. I feel we have an advantage in hardware with ASIC. We offer a better OS, more integration than any other competitor. That's why we have a strong customer base. I believe product and hardware will keep growing at 10% to 15%, which will be the normal growth rate for us, while also gaining market share. The market might grow a little slower than that. That’s reflected in our combined market growth shown on Slide 4—we see that secure networking may be slower, but Unified SASE and SecOps might not. It’s important to note that the normal growth rate over the next 5 to 10 years might be between 10% and 15%.”