Meticulous Research®– leading global market research company published a research report titled “Network Security Firewall Market by Type (Unified Threat Management, Next-Generation Firewall), Component (Solution, Services), Deployment (On-premise, Cloud) Industry Size (SME, Large Enterprises), and Geography- Global Forecast to 2025”. According to this latest publication from Meticulous Research®, the network security firewall market is expected to grow at a CAGR of 13.1% from 2019 to reach $15.8 billion by 2025.
Substantial growth in the network security firewall market is mainly attributed to the growing significance of network security & privacy concerns and real-time streaming analysis. Advancement in digital transformation in telecommunication industry and growing Signaling System 7 (SS7) vulnerabilities provide significant growth opportunities for the network security firewall market. Furthermore, other benefits of network security firewalls in terms of easy installation, convenient security access, and high-speed operation are also contributing to the greater adoption of network security firewalls. However, lack of preventive firewall maintenance, poor hardware infrastructure, and concerns with system compatibility can hamper the market growth over the coming years.
The global network security firewall market study presents historical market data in terms of value (2017 & 2018), estimated current data (2019), and forecasts for 2025-by type (unified threat management, next-generation firewall), component (solution, services), deployment (on-premise, cloud), and industry size (SME, large enterprises). The study also evaluates industry competitors and analyzes the market at a country level in different regions.
On the basis of type, the unified threat management segment claimed majority share of the global network security firewall market. This large share of this segment is mainly attributed to the continuous developments in web security applications and rapid use of web and smartphone applications. The growth in this market is primarily driven by the rising demand for UTM to counter proliferating threats associated with unauthorized access and data thefts. However, next-generation firewall segment is expected to grow at the fastest CAGR during the forecast period from 2019 to 2025. The growth in this segment is attributed to its growing adoption to detect and counter malware over the operator’s network. Besides, growing sophistication of the firewall and its ability to adapt according to the different software and hardware applications is expected to support the consistent growth in this segment over the coming years.
On the basis of component, the network security firewall market is segmented into solutions and services. The solution segment claimed majority of share in the global network security firewall market owing to the continuous development in security protocols of telecom service providers to detect and protect against the SS7 vulnerabilities, such as fraud, user location tracking, and denial of service (DoS). The solutions segment is also expected to witness the fastest CAGR over the forecast period owing to growing adoption of SMS firewall solutions by telecom organizations. SMS firewall solutions are used in network security firewall applications for the detection of malware over the operator’s network. The growing number of diameter attacks in the telecom industry are also supporting the deployment of firewall solutions, thus, contributing to the growth of the network security firewall solutions market.
On the basis of industry size, network security firewall market is segmented into small & medium-sized industries and large enterprise. Small and medium-sized category is projected to grow with a high CAGR during the forecast period in the network security firewall market. Currently, the market is witnessing the upsurge of several dynamic and budding SMEs and their requirement for secure network is increasing steadily. These companies readily incorporate network security firewalls in order to protect communication path from unauthorized access and information misuse. Consequently, the growth in the number of small and medium scale enterprises and their proliferating demand for network security is propelling the segment’s market growth.
On the basis of geography, the network security firewall market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the network security firewall market, and is expected to maintain its dominance throughout the forecast period. The region is a home to several leading network security providers. Over the past few years, a large number of cyberattacks targeted towards organizations in the North American region. This has led to a greater awareness for firewall solutions and their adoption among major companies across different sectors in this region, thus, contributing the market growth. However, Asia-Pacific region is expected to witness rapid growth during the forecast period. The growth of this market is mainly attributed to the shift of manufacturing from North America & Europe towards Asia-Pacific region and the associated growth in the use of new technologies. Besides, developing countries in the region are increasingly moving towards digitalization, and are increasingly becoming vulnerable to cyberattacks and frauds. This is driving greater adoption of network security firewalls among players from different industry verticals, thereby encouraging the market growth.
Some of the key vendors operating in the global network security firewall market include SAP SE (Germany), Cisco System Inc. (U.S.), Mobileum Inc (U.S.), ANAM Technologies (Ireland), Fortinet Inc (U.S.), BICS SA (Belgium), Route Mobile Limited (India), AMD Telecom SA (Greece), Cellusys (Ireland), NetNumber Inc. (U.S.), Openmind Networks (Ireland), Juniper Network Inc (U.S.), Watchguard Technology Inc (U.S.), and Checkpoint Software Technology Ltd. (U.S.) among others.
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