Firewall as a Service Market 2024 - What are the Regional Trends Fueling Industry Growth?

Firewall as a service market share will be mainly driven by the exponentially rising cases of cyber-attacks, which have practically plagued every industry. As per reliable estimates, cybercrime seemingly falls under the criteria of top two reported crimes at a global level. Estimates further suggest that, worldwide, approximately, more than 50% of the organizations have been targeted by cyber criminals over the past two years. The matter has been a global concern and has called for attention at both the government and private levels, thus leading to a plethora of technological advancements in the security sector. In this regard, cloud based approaches have already made profound inroads in network security, a factor that has brought great deal of interest to firewall as a service market.

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The increase in initiatives by government to improve the security of the customer information and cyber-attacks is a major factor driving the FWaaS growth. Rapid digitization, improvement in business, and growth of cyber-attacks on BFSI, healthcare, and retail industry in developing countries such as India and China, has led to an increase in the use of security solutions. Organizations are working closely with security associations to form new regulatory and offer customized suite and packages to enterprises which are more prone to attacks. According to industry experts, cybercrime will cost more than USD 1 trillion globally by 2020, impacting the global economy, thus, will drive the market in the forecasted period. In addition, the development of Next-Generation Firewall(NGFW) is going to change the market landscape with capabilities such as DPI, API, SSL inspection, filtering, and IPS, improving the cloud firewall opportunity for these solutions.

Mergers and acquisitions is changing the market structure with the influence of major investments and development of new and enhanced products. Acquisitions in the firewall market accelerated in 2016, up from 2015 and 2014 for instance, HPE acquiring Niara, Trend Micro acquiring HP TippingPoint business, and Intel Security selling its firewall business to Raytheon/Websense, and renamed as Forcepoint. Despite the turmoil, the market will grow moderate and is expected to grow due to additions of features such as IPS and URL filtering in the traditional firewalls. The market for pure-players is growing tremendously in firewall market, many of them offering services on cloud.

Speaking of the regional distribution of firewall as a Service market, North America has the largest market size and is presumed to grow at a higher rate owing to its network security infrastructure, heightened awareness and the speedy adoption of latest cutting-edge cybersecurity technology. The Asia Pacific Firewall as a Service Market, which has the highest number of SME’s, is expected to thrive in the coming few years as the increased awareness, security infrastructure and technology adoption acquire significance. In terms of global commercialization potential, Global Market Insights, Inc. estimates the Firewall as a Service Market to hit a revenue of USD 2.5 billion by 2024.

Some of the key participants in the Firewall as a Service Market include CheckPoint, Fortinet, Palo Alto Networks, Cisco, Juniper Networks, Tufin, AlgoSec, FireMon, and SkyBox Security. The industry is characterized by presence of firewall appliance providers, security providers, network providers, cloud providers, and management software providers.

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Major Key Points from Table of Content:

Chapter 5. Firewall as a Service Market, By Application
5.1. Firewall as a Service Market share by application, 2016 & 2024
5.2. BFSI
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Healthcare
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Government
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
5.5. Retail
5.5.1. Market estimates and forecast, 2013 - 2024
5.5.2. Market estimates and forecast, by region, 2013 – 2024
5.6. Education
5.6.1. Market estimates and forecast, 2013 - 2024
5.6.2. Market estimates and forecast, by region, 2013 – 2024
5.7. Manufacturing
5.7.1. Market estimates and forecast, 2013 - 2024
5.7.2. Market estimates and forecast, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/firewall-as-a-service-fwaas-market

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