Surging Demand For Advanced Cybersecurity Fuels Next-Generation Firewall Market Growth: An Emerging Driver Transforming The Next-Generation Firewall Market Landscape

The Next-Generation Firewall Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Next-Generation Firewall Market Size and Projected Growth Rate?
The market size for the next-generation firewall has shown robust growth in the past few years. The market is projected to expand from the current $5 billion in 2024 to approximately $5.48 billion in 2025, with a compound annual growth rate (CAGR) of 9.5%. The significant growth during the historic period is due to the shift from conventional firewalls, the emergence of sophisticated threats, heightened focus on application security, increased necessity for mobile and remote access safeguards, and the development of intricate networks.

The size of the next-generation firewall market is projected to experience swift expansion in the coming years, increasing to $9.23 billion in 2029 with a compound annual growth rate (CAGR) of 13.9%. This projected growth for the forecast period can be linked to the escalating complexity of cyber threats, security necessities for remote workforces, cloud migration, hybrid environments, and the implementation of zero trust architecture and IoT device security. The forecast period is also expected to witness several noteworthy trends such as a stronger focus on IoT security, integration of machine learning and AI, SSL/TLS inspection capabilities, improved user identity management, adoption of zero trust architecture, and a move towards cloud-based security solutions.

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What Are the Different Next-Generation Firewall Market Segments?
The next-generation firewall market covered in this report is segmented -

1) By Component: Solution, Services
2) By Type: Hardware, Virtual, Cloud-Based
3) By Enterprise Size: Large Size Enterprises, Small And Medium Sized Enterprises (SMEs)
4) By Industry Vertical: BFSI, Retail, IT And Telecommunication, Healthcare, Energy And Utilities, Manufacturing, Government, Other Industry Verticals
Subsegment: Professional Service, Managed Service, Support And Maintenance, Training And Education, Consulting Service, System Integration, Other Services

Subsegments:
1) By Solution: Hardware Appliances, Software-Based Firewalls, Cloud-Based Firewalls, Integrated Security Solutions
2) By Services: Consulting Services, Installation And Integration Services, Managed Security Services, Support And Maintenance Services

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What Are the Primary Drivers Shaping the Next-Generation Firewall Market?
The next-generation firewall market's expansion is projected to be driven by an increased demand for advanced cybersecurity solutions. These solutions encompass the application of specialized technologies, protocols, and measures to combat cyberattacks on systems, networks, software, devices, and information. Next-generation firewalls, a third-generation firewall technology, are employed to tackle advanced security risks at the app level. For example, the Australian Signals Directorate, a federal agency in Australia, reported in its 2023 ASD Cyber Threat Report that ReportCyber registered nearly 94,000 cybercrime reports during the 2022-23 fiscal year. This marks a 23% spike from the previous fiscal year. The financial toll of cybercrime on businesses increased by 14%, causing small businesses to lose an average of $46,000, medium businesses $97,200, and large businesses $71,600. As such, the escalating demand for progressive cybersecurity solutions is fueling the surge of the next-generation firewall market.

Which Companies Are Leading in the Next-Generation Firewall Market?
Major companies operating in the next-generation firewall market include Cisco Systems Inc., Barracuda Networks Inc., Check Point Solution Technologies Ltd., Juniper Networks Inc., Huawei Technologies Co. Ltd., Palo Alto Networks Inc., Forcepoint LLC, WatchGuard Technologies Inc., SonicWall Inc., Hillstone Networks Co, Sangfor Technologies, Fortinet Inc., Sophos Technologies Pvt. Ltd., Untangle Inc., GajShield Infotech Pvt. Ltd., SEQRITE, Stormshield SAS, AhnLab Inc., Comodo Group Inc., Netgate Inc., OPNsense, pfSense, Smoothwall Ltd.

What Are the Major Trends Shaping the Next-Generation Firewall Market?
Many leading companies in the next-generation firewall market are now implementing machine learning technologies into their firewalls to improve threat detection, network security, and automatic responses to emerging cyber threats. This type of firewall with machine learning capabilities is an advanced tool designed to combat evolving cyber threats more efficiently. They employ the state-of-the-art PAN-OS 11.0 Nova to effectively deal with highly sophisticated cyber threats. For example, Palo Alto Networks, Inc., a company based in the United States, introduced the PA-5400 and PA-400 Series ML-Powered NGFWs in November 2022. The PA-5400 Series, designed for high-performance settings, offers models with up to 61.5 Gbps threat prevention throughput. The PA-400 series is tailored for smaller businesses and widespread corporations, providing flexible deployment options and a silent-running design. These series both use advanced machine learning for early threat detection and feature Single Pass Parallel Processing (SP3) architecture for stable performance.

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What Are the Top Revenue-Generating Geographies in the Next-Generation Firewall Market?
North America was the largest region in the next-generation firewall market in 2024. Asia-Pacific is expected to be the fastest-growing region in the next-generation firewall market report during the forecast period. The regions covered in the next-generation firewall market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Next-Generation Firewall Market?
2. What is the CAGR expected in the Next-Generation Firewall Market?
3. What Are the Key Innovations Transforming the Next-Generation Firewall Industry?
4. Which Region Is Leading the Next-Generation Firewall Market?

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