Global Next-Generation Firewall Market to Grow at 10.68% During 2024-2032, Catalyzed by Development of Cybersecurity Infrastructure

July 30, 2020 | Technology & Media

IMARC Group’s latest report, titled “Next-Generation Firewall Market Report by Type (Solutions, Services), Deployment Type (Cloud-based, On-premises), Security Type (Firewall, Unified Threat Management, Network Security, Identity Based Security, and Others), Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), Vertical (Banking, Financial Services and Insurance (BFSI), IT and Telecom, Government and Public Utilities, Retail, Education, Healthcare, Energy and Utilities, and Others), and Region 2024-2032,” finds that the global next-generation firewall market size reached US$ 5.7 Billion in 2023. 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 10.68% during the forecast period (2024-2032).

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 Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Deployment Type, Security Type, Organization Size, Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Next-Generation Firewall Market to Grow at 10.68% During 2024-2032, Catalyzed by Development of Cybersecurity Infrastructure
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