Network Security Firewall Market on an Upward Trajectory, Projected to Surpass USD 24.34 Billion by 2030

The global network security firewall market size was valued at $3.48 billion in 2020, and is projected to reach $24.34 billion by 2030, registering a CAGR of 21.6% from 2020 to 2030.

Increase in use of cloud computing, big data, and the Internet of Things has altered the corporate landscape by fostering maximum agility to attain competitiveness. However, as a result of this, concerns about unauthorized access, data breaches, and account hijacking have grown considerably in recent years. As a result, network security firewalls have become one of the most important technologies for businesses to reduce data security issues.

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Network security firewall is a type of security system that protects the computer network from unauthorized access or malicious attacks. The increasing number of cyberattacks and the growing use of the internet in businesses are some of the primary factors driving the demand for network security firewalls. With the rise of the Internet of Things (IoT), the number of connected devices has increased, and securing these devices has become more challenging. Network security firewalls offer protection against a wide range of attacks, including Distributed Denial of Service (DDoS), malware, and Advanced Persistent Threats (APTs).

One of the significant trends in the network security firewall market is the integration of artificial intelligence and machine learning technologies. AI and machine learning algorithms help in identifying and analyzing patterns in network traffic, enabling security systems to detect and prevent potential threats in real-time. Additionally, the adoption of cloud-based security solutions is another trend driving the growth of the market. Cloud-based security solutions offer several benefits, such as scalability, flexibility, and cost-effectiveness, which make them an attractive option for businesses of all sizes.

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The increasing adoption of Software-Defined Networking (SDN) is expected to boost the growth of the market. SDN offers centralized management of network security firewalls, enabling network administrators to configure and manage multiple security policies from a single interface, reducing the complexity of network security management.

Another trend in the market is the growing demand for next-generation firewalls (NGFWs) that offer advanced security features such as intrusion prevention, application control, and user authentication. NGFWs offer a comprehensive security solution that can handle modern cyber threats such as ransomware and zero-day attacks. Moreover, the increasing adoption of Bring Your Own Device (BYOD) policies in enterprises is driving the demand for network security firewalls that can secure mobile devices. As employees use personal devices to access corporate data, network security firewalls need to ensure that these devices are secure and do not pose any threat to the corporate network.

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Some of the key companies mentioned within the network security firewall market report are Adaptive Mobile, Amd Telecom, Anam, Cellusys, Mobileum, Netnumber, Orange, Openmind Networks, Sap Se, and Sinch.

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