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Firewall-As-A-Service Global Market Report 2024 - By Demand, Trends, Share And Industry Analysis, Forecast To 2033
Firewall-As-A-Service Market
As per the report, the firewall-as-a-service market size has grown exponentially in recent years. It will grow from $2.79 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The firewall-as-a-service market size is expected to see exponential growth in the next few years. It will grow to $8.74 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%.
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Rising Cyberattacks And Fraud Incidents Drive Firewall-As-A-Service Market Growth
The increase in the number of fraud cases and cyber-attacks is expected to propel the growth of the firewall as a service market going forward. A cyberattack is a malicious and deliberate attempt by an individual or organization to breach the information system of another individual or organization. Cybercrime has increased every year as people try to benefit from vulnerable business systems. The visibility and traffic filtering that a firewall provides enable an organization to identify and block a large percentage of malicious traffic before it enters the network perimeter and can provide defense in depth. For instance, according to an article published by Forbes, a US-based business magazine, the average number of cyberattacks and data breaches worldwide increased by 15.1% in 2020. Furthermore, according to a statistical report published by Packetlabs, a Canadian-based penetration testing company, in 2021 cybercrime costs the world $6 trillion and by 2025 this figure would climb to $10.5 trillion. Therefore, an increase in the number of fraud cases and cyber-attacks will drive the firewall-as-a-service market.
Cloud-Based Firewall Advancements Drive Innovation In Firewall-As-A-Service Market
Advancements in cloud-based firewall services have emerged as a key trend gaining popularity in the firewall as a service market. A cloud firewall protects cloud infrastructure from attacks, just as a traditional firewall protects on-premise networks. Major companies operating in the firewall as a service market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Palo Alto, a US-based cybersecurity company launches a cloud-native firewall service for AWS (Amazon Web Services). It would be a managed Next-Generation Firewall (NGFW) service designed to simplify securing AWS deployments, enabling organizations to speed their pace of innovation while remaining highly secured.
The firewall-as-a-service market covered in this report is segmented -
1) By Service Type: Traffic Monitoring and Control, Compliance and Audit Management, Reporting and Log Management, Automation and Orchestration, Security Management
2) By Deployment: Private, Hybrid
3) By Enterprise Size: Large Enterprise, Small and Medium Enterprises
4) By Vertical: Banking, Financial Services and Insurance, IT and Telecom, Manufacturing, Travel and Hospitality, Healthcare, Energy and Utilities, Retail and Consumer goods, Other Verticals
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Major companies operating in the firewall-as-a-service market report are Barracuda Networks Inc., Cisco Systems Inc., Juniper Networks Inc., Cato Networks, Forcepoint, Fortinet Inc., Check Point Software Technologies Inc., Palo Alto Networks Inc., WatchGuard Technologies Inc, Microsoft Corporation, SonicWall, Sophos group PLC., Zscaler Inc., Akamai Technologies Inc., Armor Defense Inc., AT&T Inc., Lumen Technologies Inc., Cloudflare Inc., Comodo Security Solutions Inc., Cyxtera Technologies, F5 Inc., Google LLC., The International Business Machines Corporation., Netskope Inc., Okta Inc., Oracle corporation., Proofpoint Inc., Qualys Inc., Secureworks Inc., Broadcom Inc., Trend Micro Inc., Vmware Inc.
Contents of the report:
1. Executive Summary
2. Firewall-As-A-Service Market Report Structure
3. Firewall-As-A-Service Market Trends And Strategies
4. Firewall-As-A-Service Market - Macro Economic Scenario
5. Firewall-As-A-Service Market Size And Growth
…..
27. Firewall-As-A-Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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