Global Next-Generation Firewall Market Expected to Reach USD 6,719.56 Million by 2025 | Top Players Such as -Forcepoint, SonicWall and Sophos

According to the report published by Allied Market Research, The Global Next-Generation Firewall Market Expected to Reach USD 6,719.56 Million by 2025 | Top Players Such as -Forcepoint, SonicWall and Sophos. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.

Rise in sophisticated cyberattacks, development in IoT-based complex threat landscape, and implementation of stringent government regulations for data safety & security drive the growth of the global next-generation firewall market. On the other hand, scarcity of skilled professionals and performance issues associated with cloud protection restrict the growth to some extent. However, increase in cyber security expenditure and emergence of firewall as a service are expected to create multiple opportunities for the key market players in the industry.

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The global next-generation firewall market is segmented based on component, type, organization size, industry vertical, and region. Based on component, it is bifurcated into solution and services. Depending on type, the market is divided into hardware, virtual, and cloud. On the basis of organization size, it is bifurcated into large enterprises and SMEs. By industry vertical, it is classified into aerospace & defense, BFSI, public sector, retail, healthcare, IT & telecom, energy & utilities, manufacturing, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Based on type, the hardware segment held the largest market share in 2017, pegging at half of the total revenue. Simultaneously, the cloud-based segment is predicted to register a CAGR of 14.9% throughout the period. Based on type, the hardware segment held the largest market share in 2017, pegging at half of the total revenue. Simultaneously, the cloud-based segment is predicted to register a CAGR of 14.9% throughout the period.

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Based on geography, North America accounted for more than one-third of the total market share in 2017 and is expected to dominate throughout the forecast period. The Asia-Pacific region, on the other hand, is projected to grow at the fastest CAGR of 14.6% through 2018-2025.

The key market players analyzed in the global next-generation firewall market report include Check Point, Forcepoint, Cisco, Juniper Networks, Fortinet, Huawei, Barracuda Networks, Palo Alto Networks, SonicWall, and Sophos. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.

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Key Findings of the Next-Generation Firewall Market:

● Based on component, the solution segment led the next-generation firewall market size in terms of revenue in 2017.

● Based on type, the hardware-based firewalls accounted for the highest NGFW market share in 2017.

● Based on region, North America generated the highest revenue in 2017.

● Based on industry vertical, the healthcare segment is anticipated to exhibit substantial growth during the forecast period.

● Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.

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