Global connectivity has grown, so too have the risks and threats to network security. Next-Generation Firewall solutions have proven to be indispensable and are an essential foundational element for network security. As such, a growing demand for progressive, protection technology is fueling rapid growth for the next-generation firewall market. NGFW solutions offer all the capabilities of a standard firewall solution however they also include Deep Packet Inspection (DPI), Intrusion Detection/Prevention System (IDS/IPS), email security and packet filtering.
Market Research Future’s detailed report takes a comprehensive look at the Next Generation Firewall Market to successfully identify challenges and factors affecting growth during the course of the forecast period. High demand for Next Generation Firewall is primarily due to the variety of applications, increased adoption of cloud-based services as well as NGFW’s ability to facilitate intelligent and thorough inspection. The report has projected an estimated evaluation of USD 4.69 billion by 2023 at a noteworthy 11.4% CAGR.
Challenges for this market include high cost affiliated with set up of Next Generation Firewall solutions and lack of necessary regulations. However, due to the market being underdeveloped, these restraints are expected to be addressed during the forecast period. Moreover, increasing adoption of a “bring your own device” approach in organizations along with escalating cyber malignance has created a compelling requirement for robust security that favors growth.
Emerging economies in the Asia Pacific such as China, Singapore, and India are progressively deploying NGFW solutions making APAC the fastest growing regional segment globally. Adoption of IoT and the aforementioned trend favoring BYOD in various industries combined with the sheer growth potential has made this region one to watch.
North America currently possesses a majority share in the NGFW market; this is primarily owing to the region’s continually swift adoption of relevant, current technologies. There is also a substantial presence of prominent market leaders in the continent, due to which there is an ongoing development of innovative solutions to ever increasing risks and threats. Europe, like North America, is a well-developed regional market segment that has witnessed significant growth. MRFR’s report projects continued growth for this region.
The Next-Generation Firewall Market has been segmented by security type, services, organization size, solution, end users, and region.
- Security type – firewall, unified threat management (UTM), network security, identity-based security and others.
- Services – consulting services, system integration, professional services, managed services, support & maintenance, training & education and others.
- Organization size – small & medium enterprises (SMEs) and large enterprises.
- Solution – cloud, virtual, hardware and others
- End-user – telecommunication & IT, healthcare, retail & wholesale, manufacturing, government & defense, BFSI, education and others
- Region – North America, Europe, Asia Pacific (APAC), Rest of the World (ROW)
Analysis of eminent players in the market allows for identification of critical strategies used. Prominent players in the NGFW market include Fortinet Inc., Check Point Software Technologies Ltd., Sophos Group Plc., Cisco Systems Inc., Barracuda Networks Inc., Juniper Networks Inc., Palo Alto Networks Inc., WatchGuard Technologies Inc., Zscaler Inc., and Forcepoint LLC among others.
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