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Enterprise Firewall Market 2024-2033: Size, Trends, and Growth Forecast Analysis

Enterprise Firewall Global Market Report 2024

Enterprise Firewall Global Market Report 2024

The Business Research Company recently released a comprehensive report on the Global Enterprise Firewall Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 Drivers and Trends:

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.

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.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

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

Enterprise Firewall Market 2024 Key Insights:

• 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%.
• Enterprise Firewall Market Growth Fueled By Escalating Cyberattacks
• Technological Advancements In Enterprise Firewall Market
• North America was the largest region in the enterprise firewall market in 2023

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Contact Us:

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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