Network Security Firewall Market with Emerging Trends | Top Key Players Updates, Business Growing Strategies, Competitive Dynamics, Industry

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.

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The Key Players in The Global Market Are: 

Adaptive Mobile security
AMD Telecom S.A
ANAM Technologies
Cellusys
Cisco Systems, Inc.
Mobileum Inc.
Omobio (Pvt) Ltd
Openmind Networks
SAP SE
Symsoft AB (Sinch)

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.

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The report segments the global Market as follows:

By Component (Solution and Services);
By Deployment (On-Premise and Cloud)

Due to the shutdown of businesses and the fall in the demand of 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 network security firewall market. However, the increasing number of works from home population, the market will witness potential demand of firewall services since; the risk of cyber threats is high. It is expected that the economy will regain its momentum soon; the market for network security firewall will witness a significant demand.

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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Answers that the report acknowledges:

Market size and growth rate during forecast period.
Key factors driving the Market.
Key market trends cracking up the growth of the Market
Challenges to market growth.
Key vendors of Network Security Firewall Market
Detailed SWOT analysis.
Opportunities and threats face by the existing vendors in Global Market>
Trending factors influencing the market in the geographical regions.
Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major region.

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This release was published on openPR.