Network Security Firewall Market Witness High Growth during Forecast Period 2020-2027 | Leading Players Adaptive Mobile Security, AMD Telecom SA, ANAM Technologies, Cellusys

Network Security Firewall Market Forecast to 2027- COVID-19 Impact and Global Analysis by Component (Solution and Services); Deployment (On-Premise and Cloud); and Geography

The network security firewall market was valued at US$ 3,473.7million in 2019 and is expected to reach US$ 8,813.7 million by 2027; it is expected to growth CAGR of 12.3% from 2020 to 2027.

The firewall protection technology with time has come a long way, where the firewall systems have incorporated various advanced security products such as monitoring of internet traffic and new network firewall security products with a wide range of additional features. This evolution in the network security firewall has been majorly attributed by the dynamic growth in the IT industry resulting in the growth of disruptive and connected technologies such as IoT. Owing to these, transformations have paved the way for heinous and malicious practices resulting in data and revenue loss for various organizations. To prevent such incidences, the companies are increasingly opting for network security firewalls. Globally, the network security firewall market is driven by rising concern among the industry players regarding the advent of new forms of cyber threats such as ransomware/micro ransomware, and DDoS.

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Impact of COVID-19 on Network Security Firewall Market:

The COVID-19 pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day-by-day, which is affecting the world's technology supply chain too. According to the Center for Strategic and International Studies, owing to COVID-19 impact, the US would experience contraction in GDP in the second quarter. Further, as per the US Conference on Trade and Development (UNCTAS), foreign direct investment (FDI) flows could fall between 5% and 15% to their lowest levels since the 2008-2009 financial crisis. Due to the shutdown of businesses and the fall in the demand for network security firewall in the first quarter of 2020, the market is significantly impacted. Moreover, due to the falling GDP, the market will have negative impact on the growth rate of the network security firewall market.
Cyberattacks across the globe are getting more frequent and sophisticated, particularly in North America and Europe. By 2025, Europe's economic growth and competitiveness are expected to spur with the penetration of smart systems in its significant financial and social sectors including, transportation, energy, public service, along with healthcare. Furthermore, the development and enforcement of these smart infrastructures are likely to contribute to the growth and employment of security measures subsequently. Furthermore, Asia Pacific is more likely to get targeted by cybercriminals owing to the growth in digital transformation and increasing source of vulnerability from rising IoT connectivity. There is increase in several internet users along with greater interconnectivity among 4G mobile devices and higher mobile network traffic. The rising threat of cybercrime in APAC is also majorly because of the lack of transparency resulting in feeble cyber enforcements and regulations.

Company Profiles
o Adaptive Mobile Security
o AMD Telecom SA
o ANAM Technologies
o Cellusys
o Cisco Systems, Inc.
o Mobelium Inc.
o Omobio Pvt. Ltd.
o Openmind Networks
o SAP SE
o Symsoft

Table of Content:

1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Network security firewall Market - By Component
1.3.2 Network security firewall Market - By Deployment
1.3.3 Network security firewall Market - By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Network Security Firewall Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Network Security Firewall Market - Key Industry Dynamics
5.1 Driver
5.1.1 Network threat caused by widespread adoption of IoT
5.1.2 Rising Adoption of Cloud and BYOD
5.1.3 Substantial growth in SMS Firewall demand would drive the market
5.2 Restraints
5.2.1 Shortage of skilled workforces
5.3 Opportunity
5.3.1 Emergence of new network security threats and attacks to reinforce the demand for network security firewall in future
5.3.2 Rising adoption of Network Function Virtualization
5.4 Future Trends
5.4.1 Next Generation firewalls to replace the current network security firewalls
5.5 Impact Analysis

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