Network Security Firewall Market 2024 - By Growth Rate, Share, Analysis, Outlook and Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Network Security Firewall Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $14.67 billion In 2028 At A CAGR Of 20.8% :

The network security firewall market size has grown exponentially in recent years. It will grow from $5.74 billion in 2023 to $6.89 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to rise of the Internet, stringent regulations, increased connectivity, shift to cloud computing, e-commerce growth.

The network security firewall market size is expected to see exponential growth in the next few years. It will grow to $14.67 billion in 2028 at a compound annual growth rate (CAGR) of 20.8%. The growth in the forecast period can be attributed to 5G network expansion, increasing integration of AI, growing adoption of zero trust security models, IoT proliferation, cybersecurity skill shortages. Major trends in the forecast period include cloud-native firewall solutions, integrated security platforms, adoption of behavioral analytics, DevSecOps integration, self-learning firewall algorithms.

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Network Security Firewall Market Major Segments
The network security firewall market covered in this report is segmented -

1) By Type: Packet Filtering, State Full Packet Inspection, Next Generation Firewall, Unified Threat Management
2) By Component: Solutions, Services
3) By SMS Firewall: A2P, P2A Messaging
4) By Deployment Type: On-Premises, Cloud, Network Function Virtualization
5) By Applications: Financial Services, Medical Authorities, Education Authorities, Retail, Manufacturing, IT, Energy, Other Applications

Key Driver - Elevated Demand For Network Security And Privacy Fuels Growth In The Network Security Firewall Market

The rise in the need for network security and privacy is expected to propel the growth of the network security firewall market going forward. Network security refers to technology that safeguards the usefulness and integrity of a company's infrastructure by preventing a wide range of potential threats from entering or spreading within a network. A network security system reduces the likelihood of data loss, theft, and sabotage. For instance, in October 2021, according to ID Agent, a US-based company engaged in digital risk protection and cybersecurity solutions, the total number of cyberattacks recorded in 2021 exceeded the total number of events recorded in 2020 by 17%, with 1,291 cyberattacks recorded in 2021 compared to 1,108 breaches in 2020. Therefore, the rise in the need for network security and privacy will drive the growth of the network security firewall market.

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Prominent Trend - Product Innovations Transforming The Network Security Firewall Market

Product innovations are the key trends gaining popularity in the network security firewall market. Major market players are focusing their efforts on developing new security and privacy protection solutions to provide individuals with digital safety. For instance, in January 2022, Avast Software, a Czech-based company engaged in the research and development of computer security software, machine learning, and artificial intelligence, launched New Firewall to give people digital freedom, safety, and confidence online. The update features a brand-new firewall in Avast's free antivirus that protects users from network assaults and reinforces Avast's commitment to providing sophisticated and effective security and privacy products for free to everyone. Avast has added new sophisticated firewall features to Avast Premium Security for even better protection against data leaks, spoofing attacks, and malicious devices scanning for open ports on the user's personal computer.

Network Security Firewall Market Players
Major companies operating in the network security firewall market report are Cisco Systems Inc., SAP SE, Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Akamai Technologies Inc., Symantec Corporation, F5 Networks Inc., Check Point Solution Technologies Ltd., McAfee LLC, Zscaler Inc., Avast Software s.r.o, Proofpoint Inc., FireEye Inc., Kaspersky Lab S.R.O, AdaptiveMobile Security Ltd., Forcepoint LLC, Infoblox Inc., SonicWall Inc., Sophos Ltd., Trend Micro Inc., Bitdefender S.R.L, Barracuda Networks Inc., WatchGuard Technologies Inc., Webroot Inc., Cato Networks Ltd., ANAM Technologies Ltd., Symsoft AB, Cellusys Ltd., ESET spol. s.r.o., Imperva Inc., Radware Ltd., Netskope Inc., Cloudflare Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the network security firewall market share in 2023. The regions covered in this network security firewall industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Network Security Firewall Market Report Structure
3. Network Security Firewall Market Trends And Strategies
4. Network Security Firewall Market - Macro Economic Scenario
5. Network Security Firewall Market Size And Growth
…..
27. Network Security Firewall Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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