Next-Generation Firewall Market Analysis, Share, Size, Growth, Trends & Industry Report | AMR

December 09, 2023 01:30 PM GMT | By EIN Presswire
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WILMINGTON, DE, UNITED STATES, December 9, 2023 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, 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.

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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. 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.

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Competitive Analysis:
The competitive environment of Next-Generation Firewall Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Next-Generation Firewall Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Barracuda Networks
Check Point
Cisco
Forcepoint
Fortinet
Huawei
Juniper Networks
Palo Alto Networks
SonicWall
Sophos and Many More

By Region, 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.

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A next-generation firewall (NGFW) is the third-generation firewall technology, which offers a deep-packet inspection function by inspecting the data carried in network packets. The adoption of NGFW has increased in the recent years, owing to rise in need of handling data breaches and other cyber threats. According to the CXOs of the leading companies, the firewall technology is a crucial component of organizations' cyber security ecosystem, and a series of developments are continuing in the industry. The growth of IoT-based complex threat landscape and stringent cyber security regulations fuel the demand for next-generation firewall technology for deep inspection and threat blocking. In addition, surge in adoption of firewall as a service and increase in cyber security spending are expected to have a significant impact on the market during the forecast period. However, lack of cyber security professionals and performance issues associated with these solutions in cloud protection are the factors that majorly hinder the growth of the market.

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