According to the latest report by IMARC Group, the global next-generation firewall (NGFW) market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 12% during (2021-2026).
Next generation firewall (NGFW) stands for the third generation of network firewall that manages and secures data transmission process. It is typically integrated with intrusion prevention and cloud-delivered threat intelligence. The firewall utilizes whitelists or signature-based intrusion detection systems (IDS) to assess safe and unsafe applications. NGFW can use both dynamic and static packet filtering to enhance network connection security.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The high prevalence of cyberattacks and pervasive use of the Internet-of-Things (IoT) across various industries are augmenting the demand for NGFW. Additionally, the growing adoption of NGFW in several organizations for data security against the risk of data thefts, is also driving the market growth. The increasing penetration of smartphones, social media, and cloud services has augmented the demand for high-end data security solutions. Furthermore, the rising need to secure sensitive data, payment gateways, and transaction portals, along with the widespread adoption of digital currency, has raised the demand for NGFW in the BFSI sector. Moreover, several technological innovations have led to the introduction of highly configurable and scalable NGFW systems, thereby bolstering the market. In the coming years, the rising governmental investments to improve cybersecurity systems are anticipated to propel the next-generation firewall market.
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The report has segmented the market on the basis of type, deployment type, security type, organization size end-user and geography.
Breakup by Type:
- Hardware Solutions
- Software Solutions
- System Integration Services
- Consulting Services
- Support and Maintenance Services
- Training and Education Services
- Managed Services
Breakup by Deployment Type:
Breakup by Security Type:
- Unified Threat Management
- Network Security
- Identity Based Security
Breakup by Organization Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Breakup by Vertical:
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom
- Government and Public Utilities
- Energy and Utilities
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
The report has also analysed the competitive landscape of the market 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., Zscaler Inc., etc.
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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