Next-generation Firewall Market Analysis with Size, Manufacturers, Applications and Forecast Research Report
According to a recent report published by KD
Market Insights, titled, "Next-Generation
Firewall Market by
Component, Type, Organization Size, and Industry Vertical: Global Opportunity
Analysis and Industry Forecast, 2018 - 2025," the global next-generation
firewall market size was valued at $2,570.49 million in 2017, and is projected
to reach $6,719.56 million by 2025, registering a CAGR of 12.9% from
2018 to 2025. In 2017, next-generation firewall solutions accounted for the
highest revenue in the market.
Next-generation firewalls are advanced
firewalls, which offer additional features such as active directory integration
support, malware filtering based on reputation, and SSH & SSL inspection.
The technology possesses capabilities to detect and block complicated attacks
through security measures at the port, protocol, and application level. These
firewalls are implemented in various models, including software or hardware.
Increase in preference of organizations toward online applications and SaaS
services has raised the security concerns regarding the normal inspection of
ports and protocols, as it is insufficient to provide effective network
security. This ongoing migration of IT workloads to cloud such as Microsoft
Azure, and Google Cloud Platform along with the increase in hybrid network
architectures complexities are the next-generation firewall market trends that
drive the growth of the market. However, lack of cyber-security professionals
and performance issues of these firewalls associated with cloud protection are
some factors that hinder the growth of the growth.
The hardware based next-generation firewalls
segment dominated next-generation firewall market share in 2017 and is
projected to maintain its dominance during the forecast period owing to its
superior layer of protection because of its perimeter network position.
Moreover, these firewalls are independent of the OS, browsers, and other
software on the networked device. Furthermore, cloud-based NGFW are expected to
grow at a significant CAGR during the forecast period, owing to capabilities
possessed by these firewalls to eliminate the appliance form factor, reduce the
operational and capital expenses associated with appliance upgrades and
unmitigated vulnerabilities.
The global next-generation firewall industry
was led by the BFSI industry in 2017 and is projected to maintain its dominance
during the forecast period. However, the healthcare segment is expected to
witness the highest growth rate. NGFW plays an essential in HIPAA compliance
and helps defend malicious attacks and unauthorized access. In addition,
increase in adoption of EHRs in the developing countries are expected to create
opportunities for the next-generation firewall market as EHRs and its clinical
data is highly vulnerable to several cyber-attacks.
Browse Full Report & TOC: https://www.kdmarketinsights.com/product/next-generation-firewall-market-amr
In 2017, the global next-generation firewall
market share was dominated by North America, and is expected to maintain this
trend during the forecast period. The major factors driving the growth of the
next-generation firewall market in this region include high cyber security
spending among financial organizations and public sector supported by
significant adoption of BYOD, cloud, and IoT based devices. However, the
Asia-Pacific segment is expected to witness the highest growth, owing to rise
in digital security spending among developing countries such as China, South
Korea, India, and Taiwan in the region. In addition, development of smart
cities in the region possess significant growth capabilities.
Key Findings of the Next-Generation
Firewall Market:
- Based on component, the solution segment led
the next-generation firewall market size in terms of revenue in 2017.
- Based on type, the hardware based firewalls accounted for the highest NGFW market share in 2017.
- Based on region, North America generated the highest revenue in 2017.
- Based on industry vertical, the healthcare segment is anticipated to exhibit substantial growth during the forecast period.
- Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
- Based on type, the hardware based firewalls accounted for the highest NGFW market share in 2017.
- Based on region, North America generated the highest revenue in 2017.
- Based on industry vertical, the healthcare segment is anticipated to exhibit substantial growth during the forecast period.
- Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
The global next-generation firewall market
analysis includes some of the key market players such as Barracuda Networks,
Check Point, Cisco, Forcepoint, Fortinet, Huawei, Juniper Networks, Palo Alto
Networks, SonicWall, and Sophos.
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