Network Security Firewall Market Latest Design Models and Dynamics Forecast 2021 to 2031 | Adaptive Mobile Security Limited , AMD Telecom S.A., ANAM Technologies, Cellusys Limited

The global network security firewall market was valued at US$ 38.9 billion in 2021 and it is anticipated to grow up to US$ 101.3 billion by 2031, at a CAGR of 9.8% during the forecast period.

New York, According to a new market research report published by Global Insight Services Network Security Firewall Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

The network security firewall is configured so that any data entering or exiting the network must pass through it. Network security firewall accomplishes this by examining individual incoming messages and rejecting those that fail to meet the defined security criteria. When properly configured, a firewall allows users to access any needed resources while keeping out hackers, unwanted users, worms, viruses, or other malicious programs trying to access the protected network. Additionally, to limit access to a protected computer & network, a firewall can log all traffic coming into or leaving a network & manage remote access to a private network through secure authentication certificates and logins.

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Market Drivers and Trends

The increasing deployment of IoT in industries results in network security threats like the IoT Botnets. The botnets enable hackers to get access to devices that plug into IoT. For instance, in 2016, the leaked Mirai code had created a highly effective horde of bots resulting in an array of DDoS attacks. The development of such bots puts immense pressure on technology companies to implement network security measures. Such implementations are positively influencing the network security firewall market across the world.

Secondly, the SMS landscape is transforming quickly, where SMS firewall has captured a prominent position in establishing good A2P SMS monetization strategies and equipping them with network analysis and protection competencies. Over time, the demand for SMS security firewalls has spawned various providers, offering mobile operators a variety of value propositions and vendors to choose solutions. As SMS prevails to be a critical factor for revenue generation, operators worldwide focus on technological modifications to deal with threats like spam/spoofs and fraudulent activities. Therefore, the rising security and privacy concerns among the industry players are expected to drive the demand for SMS firewalls and contribute to the network security firewall market.

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Market Restraints and Challenges

The increasing count of IoT Deployment Types and cloud computing has increased the organization's vulnerability to cyber-attack, leading to difficulties in identifying malicious activities. Thus, industries worldwide have raised the demand for a skilled workforce to mitigate and protect organizations against cyber threats.

Advanced network security demands advanced skills at work, and it becomes difficult or almost impossible for companies to hire additional staff. The shortage of skilled workforce is also affecting the organization's budgets, which are growing impeccably but unable to maintain the cyber security ecosystem. This factor has created an alarming situation among the organizations, owing to which various leading enterprises are training their employees with advanced skills.

Global Network Security Firewall Market by Deployment Type

Based on deployment type, it is bifurcated into on-premise and cloud-based. The cloud-based segment is likely to hold the major share of the market. Over the years, the demand for cloud-based systems is expected to grow substantially due to the cloud-based network security firewall software offering enhanced flexibility, scalability, and security to its users. Further, it allows the end users to receive automatic software updates without additional capital expenditures, improving technology competitiveness. Due to these factors mentioned above, the cloud-based network security firewall software is expected to receive the main market attraction resulting in a principle growth rate.

Major Players in the Global Network Security Firewall Market

The key players studied in the global network security firewall market are Adaptive Mobile Security Limited (Ireland), AMD Telecom S.A. (Greece), ANAM Technologies (Ireland), Cellusys Limited (Ireland), Cisco Systems, Inc. (US), Mobileum (US), Omobio (Sri Lanka), Openmind Networks Ltd (Ireland), SAP SE (Germany), and Sinch (Sweden).

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Reasons to buy Network Security Firewall Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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