Press release
Next-Generation Firewall Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Next-Generation Firewall
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How Large Will the Next-Generation Firewall Market Size By 2025?_x000D_
The scale of the next-generation firewall market has seen a significant increase in the past few years. The market, which was valued at $5 billion in 2024, is projected to balloon to $5.44 billion in 2025, showing an annual compound growth rate (CAGR) of 8.6%. This growth over the historic period was largely due to the transition from traditional firewalls, the emergence of sophisticated threats, a greater focus on application security, and the growing need for mobile and remote access security, along with the evolution of network complexity._x000D_
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How Big Is the Next-Generation Firewall Market Size Expected to Grow by 2029?_x000D_
Expected to experience swift expansion in the coming years, the size of the next-generation firewall market is projected to reach a staggering $9.03 billion by 2029, with a compound annual growth rate (CAGR) of 13.5%. This surge in growth over the forecast period can be linked to the escalating complexity of cyber threats, the security requirements of remote workforces, the move to the cloud and hybrid environments, the application of zero trust architecture, and the security of IoT devices. During the forecast period, significant trends are anticipated to include a heightened focus on IoT security, the integration of machine learning and AI, the capacity for SSL/TLS inspection, improved user identity management, adoption of zero trust architecture, and the prominence of cloud-based security solutions._x000D_
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Which Key Market Drivers Powering Next-Generation Firewall Market Expansion and Growth?_x000D_
The anticipated growth of the next-generation firewall market is largely attributed to the increasing need for sophisticated cybersecurity solutions. These solutions utilize an amalgamation of technologies, methodologies, and protective measures to guard systems, networks, applications, devices, and data from cyber threats. Next-generation firewall is a third-generation firewall technology tailor-made to mitigate advanced security threats at the application tier. For example, the 2023 ASD Cyber Threat Report by the Australia-based federal agency, Australian Signals Directorate, noted in November 2023 that ReportCyber registered close to 94,000 cybercrime reports during the 2022-23 fiscal year. This figure denotes a 23% surge from the 2021-22 fiscal year. The financial impact of cybercrime on businesses escalated by 14%, causing small enterprises to lose an average of $46,000, medium enterprises $97,200, and large enterprises $71,600. Consequently, the increasing demand for sophisticated cybersecurity solutions is fuelling the expansion of the next-generation firewall market._x000D_
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Which Fast-Growing Trends Are Poised to Disrupt the Next-Generation Firewall Market?_x000D_
Key players in the next-generation firewall market are concentrating on developing Machine Learning-enabled next-generation firewalls. These firewalls increase the effectiveness of threat detection, amplify network security, and automatically adapt to emerging cyber threats. These advanced firewalls incorporate machine learning technology to boost their capability in identifying and countering cyber threats. They make use of the most recent PAN-OS 11.0 Nova, designed to efficiently counter the most elusive of cyber threats. An example of this is Palo Alto Networks, Inc., a company based in the United States, which launched the PA-5400 and PA-400 Series of Machine Learning-powered next-generation firewalls in November 2022. The PA-5400 Series is engineered for environments requiring high performance, featuring models capable of delivering up to 61.5 Gbps of threat prevention throughput. The PA-400 Series is targeted at smaller businesses and distributed enterprises, boasting flexible deployment choices and a noiseless design thanks to its fan-less operation. Both these series deploy advanced machine learning methodologies for proactive threat detection and incorporate the Single Pass Parallel Processing (SP3) architecture, ensuring consistent performance._x000D_
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What Are the Emerging Segments in the Next-Generation Firewall Market?_x000D_
The next-generation firewallmarket covered in this report is segmented - _x000D_
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1) By Component: Solution, Services_x000D_
2) By Type: Hardware, Virtual, Cloud-Based_x000D_
3) By Enterprise Size: Large Size Enterprises, Small And Medium Sized Enterprises (SMEs)_x000D_
4) By Industry Vertical: BFSI, Retail, IT And Telecommunication, Healthcare, Energy And Utilities, Manufacturing, Government, Other Industry Verticals_x000D_
Subsegment: Professional Service, Managed Service, Support And Maintenance, Training And Education, Consulting Service, System Integration, Other Services_x000D_
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Subsegments:_x000D_
1) By Solution: Hardware Appliances, Software-Based Firewalls, Cloud-Based Firewalls, Integrated Security Solutions _x000D_
2) By Services: Consulting Services, Installation And Integration Services, Managed Security Services, Support And Maintenance Services _x000D_
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Who Are the Global Leaders in the Next-Generation Firewall Market?_x000D_
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. _x000D_
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Which are the Top Profitable Regional Markets for the Next-Generation Firewall Industry?_x000D_
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_x000D_
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