Global Firewall as a Service Market By Top Industry Players Like Check Point Software Technologies, Ltd., Palo Alto Networks, FireEye, Inc., Cisco, McAfee, Hewlett Packard Enterprise, Symantec, F5 Networks, Juniper Networks

According to Global Market Insights, Firewall as a Service (FWaaS) Market is estimated to surpass USD 2.5 billion by 2024. The firewall solutions are being used by organizations to protect end-to-end web application and database of customer information and business.

FWaaS enables fast and secure local Internet breakouts for all ports and protocols, without the use of hardware appliances. It elastically handles all the cloud application traffic, bringing the entire security stack closer to offer protection no matter where they connect. The solutions keep the network secure, depending on the needs of the customer; the solutions are integrated with next-generation appliances.

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The firewall appliances market holds majority of the firewall as a service market share with approximately 22% CAGR estimation from 2017 to 2024. Traditionally, proxy servers and stateful inspection firewalls were used to protect the servers and network. However, with the change in the attacks and spreading its reach, internal networks require more protection than traditional ways. The UTM and NGFW were used to protect enterprises from internal and external network attacks.

The government agencies and financial institutions are most targeted due to the huge transactions and classified information. Thus, government and private organizations are collaborating and customizing compliances regulations best suited for the industry. BFSI applications account for majority of the revenue and are expected to maintain their position in the coming years.

The rising number of attacks and need for security measures are fostering the growth of the Asia Pacific firewall as a service market. Additionally, number of organizations are understanding the benefits of offering cloud deployment to their customers to get cost-benefits. Moreover, government initiatives to improve the security and introduce norms is creating growth opportunities for the security providers.

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North America will dominate the market in 2016, approx. 52% and is expected to maintain its majority by 2024, due to increase in the use of cloud computing and collaboration within companies and government. The region has well-established players investing in R&D activities that will contribute to the development of new and advanced technologies.

Asia Pacific (APAC) offers growth opportunities in the firewall as a service market as there is a wide presence of SMEs in the region that are ready to use customized security applications to defend against threats.

The players operating in the firewall as a service equipment space include Checkpoint, Palo Alto Networks, Fortinet, Cisco, IBM, Symantec, McAfee, and Sophos. Additionally, some of the pure management software providers holding strong place in the FWaaS market are Tufin, Firemon, Algosec, Skybox Security FireEye, and Watchguard.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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