Network Security Firewall Market Key Dynamics And Trends, Swot Analysis, Regional Analysis 2020-2030

According to a recent report published by Allied Market Research, titled, "Network Security Firewall Market by Component, Solution, Services, Deployment type and Type: Global Opportunity Analysis and Industry Forecast, 2020-2030,"

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.

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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. The use of network security firewall market is rising in many companies, and is driving their networks to safeguard data and information from security breaches and cyber-attacks.

According to AMR analysis published in 2020, even after the economic slowdowns caused by the COVID-19 pandemic, organizational expenditure on network security firewalls and cybersecurity solutions increased by 2.4% compared to prior years, while other IT investments decreased. This illustrates those organizations and businesses are prioritizing the security of their digital infrastructure by raising their security expenditure. Thus, all these factors collectively are anticipated to offer remunerative opportunities for the expansion of the global network security firewall market trends in the future.

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Competitive Analysis:
The competitive environment of Network Security Firewall Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Network Security Firewall Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Adaptive Mobile
Amd Telecom
Anam
Cellusys
Mobileum
Netnumber
Orange
Openmind Networks
Sap Se
Sinch and Many More

Region wise, the network security firewall market analysis was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

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Post COVID-19, size of the network security firewall industry is estimated to grow from $4.17 billion in 2021 and is projected to reach $24.34 billion by 2030, at a CAGR of 21.6%.With the COVID cases on rise across the globe, the world relied on online retailers and e-commerce websites for their shopping needs, as local malls and shops remained closed amid the pandemic. This created heavy responsibilities for the banking and financial sectors to invest heavily in security of payment gateways to help protect these increased numbers of online transactions. This, in turn, augmented the demand for network security firewall solutions across the globe for the sake of safety of these personal patient data and data analysis tools from cyber criminals.

Furthermore, during the COVID-19 pandemic, several companies instituted remote working for their workers to help reduce the spread of coronavirus. These remote working conditions necessitated increased data protection for corporate data. However, with convenience and ease of use, workers can sustain high productivity.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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