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Dragos

Safeguarding civilization by becoming the global platform that stops all threats against industrial infrastructure.

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Dragos SWOT Analysis

Updated: October 1, 2025 • 2025-Q4 Analysis

The Dragos SWOT analysis reveals a company at a critical inflection point. Its elite threat intelligence and practitioner-built brand are formidable strengths, creating a defensible moat. However, long sales cycles and emerging competition from agile startups and tech giants like Microsoft represent significant headwinds. The key priorities correctly identify the strategic imperatives: leveraging partnerships like CrowdStrike to accelerate market penetration, infusing the platform with AI to scale its expertise, and winning the war for talent. Executing on this plan will be crucial to transition from a niche leader to the undisputed category king of OT security, fully realizing its mission to safeguard civilization.

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Safeguarding civilization by becoming the global platform that stops all threats against industrial infrastructure.

Strengths

  • INTEL: WorldView team's research is our #1 differentiator & sales tool.
  • BRAND: Unmatched credibility and trust among OT security practitioners.
  • PARTNERSHIPS: Strategic alliance with CrowdStrike extends market reach.
  • ECOSYSTEM: Growing Dragos Central partner program and tech integrations.
  • FUNDING: Strong backing from top-tier VCs provides significant runway.

Weaknesses

  • SALES: Long, complex sales cycles for critical infrastructure deals.
  • SCALE: Scaling expert services & support globally is capital intensive.
  • AWARENESS: Brand recognition is low at the C-suite/Board level.
  • PLATFORM: Perceived complexity in deployment versus newer competitors.
  • PRICING: Premium pricing can be a barrier for mid-market adoption.

Opportunities

  • REGULATION: New government mandates (e.g., TSA) create budget urgency.
  • GEOPOLITICAL: Heightened nation-state threats drive demand for OT defense.
  • CONVERGENCE: IT security leaders now owning OT budgets need our help.
  • VERTICALS: Huge untapped potential in manufacturing and transportation.
  • INSURANCE: Cyber insurers requiring robust OT security for coverage.

Threats

  • COMPETITION: Well-funded rivals (Claroty, Nozomi) are innovating fast.
  • BIG-TECH: Microsoft bundling OT features into Defender for IoT platform.
  • RECESSION: Economic downturn could delay or shrink infrastructure projects.
  • TALENT-WAR: Intense competition for scarce OT cybersecurity expertise.
  • BREACH: A major breach at a high-profile customer would damage our brand.

Key Priorities

  • MARKET: Dominate high-growth sectors with targeted go-to-market plays.
  • PLATFORM: Evolve platform to an autonomous, AI-driven defense system.
  • PARTNER: Build an unrivaled ecosystem of technology & channel partners.
  • TALENT: Secure our position as the #1 destination for OT security talent.

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Sub organizations:

Strategic pillars derived from our vision-focused SWOT analysis

1

INTEL-LED DEFENSE

Embed proprietary threat intelligence into all products.

2

PLATFORM UNIFICATION

Integrate detection, response, and vulnerability mgmt.

3

ECOSYSTEM DOMINANCE

Become the integration hub for the OT security stack.

4

VERTICAL EXPANSION

Target manufacturing, transportation & smart cities.

Dragos logo

Dragos Market

  • Founded: 2016
  • Market Share: Estimated 15-20% of specialized OT security market
  • Customer Base: Critical infrastructure: energy, utilities, manufacturing, oil & gas
  • Category:
    OT Cybersecurity
  • SIC Code: 7379 Computer Related Services, Not Elsewhere Classified
  • NAICS Code: 541512 Computer Systems Design Services
  • Location: Hanover, Maryland
  • Zip Code: 21076
    Congressional District: MD-3 ANNAPOLIS
  • Employees: 800
Competitors
Claroty logo
Claroty View Analysis
Nozomi Networks logo
Nozomi Networks Request Analysis
Microsoft logo
Microsoft View Analysis
Armis logo
Armis View Analysis
Palo Alto Networks logo
Palo Alto Networks View Analysis
Products & Services
No products or services data available
Distribution Channels

Dragos Product Market Fit Analysis

Updated: October 1, 2025

Dragos protects the world's critical infrastructure. Industrial companies face unique cyber threats that can cause physical disruption. Dragos provides the platform, intelligence, and services to stop these attacks, preventing operational downtime, reducing enterprise risk, and ensuring civilization's essential services—like power and water—remain secure and reliable for everyone.

1

Prevent operational downtime via superior threat detection.

2

Reduce risk with the world's best OT threat intelligence.

3

Respond faster with OT-specific tools and expertise.



Before State

  • Blind to threats in OT networks
  • IT security tools don't work in OT
  • Slow, manual incident response

After State

  • Full visibility of OT assets & threats
  • Context-aware threat detection
  • Rapid, guided incident response

Negative Impacts

  • Risk of catastrophic physical failure
  • Unplanned operational downtime
  • Compliance and regulatory fines

Positive Outcomes

  • Protected critical infrastructure
  • Maximized operational uptime
  • Demonstrable risk reduction

Key Metrics

Customer Retention Rates - Est. 95%+
Net Promoter Score (NPS) - Est. 60+
User Growth Rate - 50%+ YoY customer growth
Customer Feedback/Reviews - 4.8/5 on Gartner Peer Insights
Repeat Purchase Rates) - High expansion revenue via new sites

Requirements

  • Deep understanding of ICS protocols
  • Actionable OT-specific threat intel
  • Integrated platform for visibility

Why Dragos

  • Deploy Dragos Platform sensors
  • Leverage WorldView intel feeds
  • Utilize response playbooks

Dragos Competitive Advantage

  • Unmatched human threat intel team
  • Largest OT threat data repository
  • Practitioner-built technology

Proof Points

  • Identified Pipedream, the 7th ICS malware
  • Trusted by global energy & mfg leaders
  • Key partner in Ukraine cyber defense
Dragos logo

Dragos Market Positioning

What You Do

  • Provides OT cybersecurity platform, intel, and services.

Target Market

  • Industrial organizations that operate critical infrastructure.

Differentiation

  • Proprietary threat intelligence from world-class OT threat hunters
  • Deep, protocol-level visibility and analytics for ICS environments

Revenue Streams

  • SaaS subscriptions (Platform)
  • Professional services
  • Managed services
Dragos logo

Dragos Operations and Technology

Company Operations
  • Organizational Structure: Functional with matrixed product and go-to-market teams.
  • Supply Chain: Primarily software; hardware appliances sourced from partners.
  • Tech Patents: Holds patents related to ICS threat detection and analysis.
  • Website: https://www.dragos.com
Top Clients
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Dragos Competitive Forces

Threat of New Entry

MEDIUM: High barriers to entry exist due to the deep, specialized expertise required and the years needed to build a credible threat intelligence capability and brand trust. However, a well-funded new entrant could acquire a smaller player.

Supplier Power

LOW: Key suppliers are for commodity hardware (servers, sensors) and cloud infrastructure (AWS), where Dragos is not locked into any single provider and has significant leverage.

Buyer Power

MEDIUM: Buyers are large enterprises managing critical infrastructure, giving them negotiation leverage. However, the high cost of failure and lack of viable alternatives for elite intel limit their power.

Threat of Substitution

MEDIUM: The primary substitute is using repurposed IT security tools, which is increasingly seen as ineffective. 'Good enough' solutions from platform vendors like Microsoft are the main substitution threat.

Competitive Rivalry

HIGH: Intense rivalry among specialized leaders (Claroty, Nozomi) and encroaching tech giants (Microsoft, Palo Alto Networks) creates a highly competitive landscape.

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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