Global Next-Generation Firewall Market to Grow at 12.5% During 2023-2028, Catalyzed by Development of Cybersecurity Infrastructure

IMARC Group’s latest report, titled “Next-Generation Firewall Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global next-generation firewall market size reached US$ 5.0 Billion in 2022. Next-generation firewall (NGFW) refers to a network security device that offers application awareness and control, integrated intrusion prevention, and cloud-delivered threat intelligence. It uses both static and dynamic virtual private network (VPN) support and packet filtering to ensure that all connections between the network, internet and firewall are secure and valid. Nowadays, NGFW has gained momentum across the globe as it helps protect sensitive data, meet compliance requirements, and guide organizations toward achieving digital transformation.


Global Next-Generation Firewall Market Trends:

With an increase in digital identities, there has been a massive rise in the instances of advanced cyber-attacks. This has led to the rapid adoption of NGFW among organizations as it provides real-time threat intelligence and additional security functions across data centers, the cloud, mobile, endpoint, and the internet of things (IoT) enabled devices. NGFW is also a low-cost option for companies to improve their underlying security by incorporating antivirus, firewalls and other security applications into one solution. Besides this, a significant rise in government spending on developing cybersecurity infrastructure and comprehensive research and development (R&D) activities are positively impacting the industry’s growth. Moreover, technological advancements have prompted market players to introduce highly scalable, configurable and advanced security solutions. On account of these factors, the market is expected to grow at a CAGR of 12.5% during the forecast period (2023-2028).

Market Summary:

• Based on the type, the market has been bifurcated into solutions (hardware and software) and services (system integrated, consulting, support and maintenance, training and education, and managed services).
• On the basis of the deployment type, the market has been categorized into cloud-based and on-premises.
• The market has been segregated based on the security type into the firewall, unified threat management, network security, identity-based security and others.
• On the basis of the organization size, the market has been classified into small and medium, and large enterprises.
• The market has been segmented based on the vertical into banking, financial service and insurance (BFSI), IT and telecom, government and public utilities, retail, education, healthcare, energy and utilities, and others.
• Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Indonesia, Australia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
• The competitive landscape of the market has been examined, with some of the key players being Barracuda Networks Inc., Check Point Software Technologies, Cisco Systems, Forcepoint LLC, Fortinet Inc., Gajshield Infotech Pvt Ltd., Hillstone Networks Co., Juniper Networks Inc., Palo Alto Networks Inc., Sonicwall Inc., Sophos Ltd., and Zscaler Inc.

Report Scope:

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