24.9% Growth Rate for Firewall as a Service Market by 2022| Growth Factors, Business Developments, Segmentation and Technologies

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The Firewall as a Service Market size is expected to grow from US$ 0.56 Billion in 2017 to US$ 1.70 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. Some of the challenges that may hinder the growth of the market are limited technical expertise to manage the advanced firewall mechanism, integration of cloud firewalls with traditional firewall platforms, determining the right mix of firewall offerings to avoid performance degradation, and identifying appropriate specifications for the expected network load.

“The automation and orchestration service type is expected to have the fastest growth rate during the forecast period.”
The automation and orchestration service type is expected to grow at the highest CAGR during the forecast period. The fastest growth of this segment is due to benefits offered, such as arrangement and synchronization of automated tasks, and management of interconnections and exchanges among cloud-based and on-premises business units. Furthermore, this service ensures internal and external compliance requirements are fulfilled.

“Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.”
APAC is projected to be the fastest growing region in terms of CAGR. Growing awareness about the benefits of cloud services, benefits offered by the pay-as-you-go model, increased cloud initiatives by governments, and digital transformation within enterprises are some of the key reasons that have led APAC to become a highly potential market.

The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 Companies – 31%, Tier 2 Companies – 43%, and Tier 3 Companies – 26%
• By Designation: C-Level – 41%, Director Level – 36%, and Others – 23%
• By Region: North America – 44%, Europe – 33%, APAC – 17%, and RoW– 6%

The Study Objectives of this report are:

• To forecast the market size of the main regional segments, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America

• To describe and forecast the global Firewall as a Service (FWaaS) market by service type, service model, deployment model, organization size, vertical, and region

• To analyze the market subsegments with respect to individual growth trends, prospects, and contribution to the total market

• To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)

• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape to the major players

• To track and analyze competitive developments, such as acquisitions, new product developments, and partnerships and collaborations, in the FWaaS market

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#Top Key Players in the “Firewall as a Service Market” include are Barracuda Networks (US),Cato Networks (Israel),Check Point Software Technologies (Israel),Cisco Systems (US),Forcepoint (US),Fortinet (US),Juniper Networks (US),Palo Alto Networks (US),WatchGuard (US),Zscaler (US).

#Target Audience for Firewall as a Service Market: Government agencies,Cybersecurity vendors,Network solution providers,Independent software vendors,Consulting firms,System integrators,Value-Added Resellers (VARs),Information Technology (IT) security agencies,Managed Security Service Providers (MSSPs).

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