Press release
Enterprise Firewall Global Market Estimated to Surge at a CAGR of 11.2% to Reach $20.55 Billion By 2028 | Google LLC, Dell Inc., Intel Corporation, Cisco Systems Inc., Broadcom Inc.
Enterprise Firewall Global Market
The Business Research Company offers in-depth market insights through Enterprise 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 enterprise firewall market size has grown rapidly in recent years. It will grow from $12.12 billion in 2023 to $13.45 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increasing cyber threats, rising adoption of internet-connected devices, growth in e-commerce activities, expanding enterprise networks, regulatory compliance requirements.
The enterprise firewall market size is expected to see rapid growth in the next few years. It will grow to $20.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to cloud migration trends, rising demand for remote work solutions, increasing use of internet of things (iot) devices, stringent data protection regulations, growing emphasis on network security. Major trends in the forecast period include adoption of artificial intelligence in cybersecurity, integration of zero-trust security models, emphasis on user-centric security approaches, increased focus on threat intelligence sharing, development of next-generation firewall solutions.
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Market Segmentation:
The enterprise firewall market covered in this report is segmented -
1) By Solution: Hardware, Software, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Small And Medium Organizations, Large Organizations
4) By End-User: Healthcare, Manufacturing, Government, Retail, Education, Financial Services, Media, Communications, Other End-User Industries
Major Driver - Enterprise Firewall Market Growth Fueled By Escalating Cyberattacks
The rise in cyberattacks is expected to propel the growth of the enterprise firewall market going forward. A cyberattack is any attempt to harm a computer, computing system, or network by getting access to it. Implementing enterprise firewalls in various enterprises provides a robust defense mechanism that significantly reduces the risk of cyber-attacks, safeguarding critical assets and sensitive information while ensuring uninterrupted business operations. For instance, in June 2022, according to the Anti-Phishing Working Group, a US-based organization, in the first quarter of 2022, the group recorded a total of 1,025,968 phishing attacks, a 15% rise from the 888,585 attacks in the fourth quarter of 2021. Therefore, the rise in cyberattacks drives the growth of the enterprise firewall market.
Competitive Landscape:
Major companies operating in the enterprise firewall market report are Google LLC, Dell Inc., Huawei Technologies Co. Ltd., Intel Corporation, Cisco Systems Inc., Broadcom Inc., The Hewlett-Packard Co., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., F5 Inc., Check Point Software Technologies Ltd., Trend Micro Inc., Extreme Networks Inc., Sangfor Technologies Inc., Forcepoint, SonicWALL Inc., Hillstone Networks Co., Barracuda Networks Inc., Imperva Inc., Trustwave Holdings, AhnLab Co. Ltd., WatchGuard Technologies Inc., Stormshield, AlgoSec
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Top Trend - Technological Advancements In Enterprise Firewall Market
Technological advancements are a key trend gaining popularity in the enterprise firewall market. Major companies operating in the enterprise firewall market are introducing cloud-based firewalls to sustain their position in the market. For instance, in February 2022, Juniper Networks Inc., a US-based developer and marketer of networking products, introduced Juniper Secure Edge, a cloud-delivered security solution. With the help of this new solution, enterprises could secure their workforces wherever they are by delivering Firewall-as-a-Service (FWaaS) as a single-stack software architecture. It provides unified policy management from a single UI for all security use cases with dynamic zero-trust segmentation, investment protection, and validated security effectiveness.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Enterprise Firewall Market Characteristics
3. Enterprise Firewall Market Trends And Strategies
4. Enterprise Firewall Market - Macro Economic Scenario
5. Enterprise Firewall Market Size And Growth
…..
27. Enterprise Firewall Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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