Press release
Global Next-Generation Firewall Market Comprehensive Study: Forecasted Market Size And Growth Rate | Cisco Systems Inc., Barracuda Networks Inc., Check Point Solution Technologies Ltd., Juniper Networks Inc
Next-Generation Firewall Market Characteristics
The Business Research Company offers in-depth market insights through Next-Generation Firewall Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The next-generation firewall market size has grown rapidly in recent years. It will grow from $4.62 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to transition from traditional firewalls, rise of advanced threats, increased emphasis on application security, mobile and remote access security needs, evolving network complexity..
The next-generation firewall market size is expected to see rapid growth in the next few years. It will grow to $8.01 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to rise in cyber threats complexity, remote workforce security needs, cloud migration and hybrid environments, zero trust architecture implementation, iot device security.. Major trends in the forecast period include iot security focus, machine learning and ai integration, ssl/tls inspection capability, enhanced user identity management:, zero trust architecture adoption, cloud-based security solutions..
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Market Segmentation:
The next-generation firewall market covered in this report is segmented -
1) By Component: Solution, Services
2) By Type: Hardware, Virtual, Cloud-Based
3) By Enterprise Size: Large Size Enterprises, Small And Medium Sized Enterprises (SMEs)
4) By Industry Vertical: BFSI, Retail, IT And Telecommunication, Healthcare, Energy And Utilities, Manufacturing, Government, Other Industry Verticals
Subsegment: Professional Service, Managed Service, Support And Maintenance, Training And Education, Consulting Service, System Integration, Other Services
Major Driver - Surging Demand For Advanced Cybersecurity Fuels Next-Generation Firewall Market Growth
The rise in demand for advanced cybersecurity solutions is expected to propel the growth of the next-generation firewall market going forward. Cybersecurity solutions refer to the use of technologies, procedures and safeguards to defend against cyberattacks on systems, networks, programs, devices and data. A next-generation firewall belongs to the third generation of firewall technology and is used to address advanced security threats at the application level. For instance, in December 2022, according to a report shared by Tech Target, a US-based media source dedicated to serving business technology buyers, 3,932 publicly disclosed breach events were reported during the year. By the end of September 2021, there had already been 17% more breaches than there had been in all of 2020. Therefore, a rise in demand for advanced cybersecurity solutions is driving the growth of the next-generation firewall market.
Competitive Landscape:
Major companies operating in the next-generation firewall market report are Cisco Systems Inc., Barracuda Networks Inc., Check Point Solution Technologies Ltd., Juniper Networks Inc., Huawei Technologies Co. Ltd., Palo Alto Networks Inc., Forcepoint LLC, Zscaler Inc., WatchGuard Technologies Inc., SonicWall Inc.,, Cloudflare Inc., Hillstone Networks Co, Sangfor Technologies, Fortinet Inc., Sophos Technologies Pvt. Ltd., Dell Technologies Inc., Untangle Inc., FireEye Inc., McAfee LLC, Trend Micro Inc., F5 Networks Inc., GajShield Infotech Pvt. Ltd., SEQRITE, Stormshield SAS, AhnLab Inc., Comodo Group Inc., Darktrace Ltd., Netgate Inc., OPNsense, pfSense, Smoothwall Ltd. .
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Top Trend - Product Innovation Spurs Growth In The Next-Generation Firewall Market
Product innovation is a key trend gaining popularity in the next-generation firewall market. Major companies operating in the next-generation firewall market are focused on developing a new product to strengthen their position in the market. For instance, in August 2021, Fortinet Cybersecurity Corporation, a US-based company that develops and sells cybersecurity solutions, launched FortiGate 3500F, its latest next-generation firewall for hybrid data centers. FortiGate 3500F is built with hybrid data centers in mind and provides automatic threat protection post-decryption, zero trust network access (ZTNA)and proxy capabilities. Along with adding further security measures such as anti-virus, mail security, anti-DDoS, IPSand anti-malware solutions, FortiGate 3500F is the first in the industry that natively interacts with FortiGuard Security Services.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Next-Generation Firewall Market Characteristics
3. Next-Generation Firewall Market Trends And Strategies
4. Next-Generation Firewall Market - Macro Economic Scenario
5. Next-Generation Firewall Market Size And Growth
…..
27. Next-Generation Firewall Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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