According to Future Market Insights (FMI), the adoption of the next-gen firewall market is estimated to grow at a CAGR of 8.8% from 2022-2032. Next-Gen Firewall Market is expected to reach ~US$ 7.6 Bn by 2032.
Sales in the market are expected to reach a valuation of ~US$ 3.3 Bn by the end of 2022. As per FMI, companies are building security directly into IoT devices before implementing the hardware into the system.
The rise in data hacking activities and cyber-attacks is encouraging enterprises to focus on the detection of better security solutions. Hence, demand for next-gen firewall systems for securing information deployed on the cloud and for strengthening the security structure of the company is increasing.
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Moreover, large organizations are taking initiatives to implement next-gen firewalls for their business applications which are deployed on cloud, and helping other small enterprises to understand the usage of next-gen firewall capabilities, and internet security threats.
Key Takeaways: Next-Gen Firewall Market
- By type, the virtual appliance segment is estimated to grow at a robust CAGR of 9.9% through 2032.
- Among the enterprise size, SMEs segment is estimated to grow by 3.0X during the forecast period.
- By industry, the healthcare segment is anticipated to increase at a CAGR of 11.5% between 2022 & 2032.
- North America region is expected to dominate next-gen firewall market followed by Europe in 2022.
- South Asia & Pacific is estimated to be the fastest growing region during the forecast period.
- The U.S. market is expected to witness growth at a CAGR of around 4.6% through 2032.
- In India, the next-gen firewall market is expected to grow by 4.4x during the forecast period.
- Next-gen firewall market in China is estimated to witness an absolute $ opportunity of US$ 281 Mn in the forecast period.
Demand for Email Security to Boost the Adoption of Next-Gen Firewall Systems
Among enterprises, email security is a primary concern. Working culture among enterprises is changing, hence employees are using their personal devices for accessing business emails outside the organizations.
Next-gen firewall solutions help the organization in filtering emails with viruses on networks before the email reaches in an internal network of the organization.
Moreover, next-gen firewall helps to streamline email security tools by transferring them into single cloud service. Hence, enterprises are adopting next-gen firewall solution for improving the email security and thereby the demand is increasing for next-gen firewall solutions.
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Next-Gen Firewall Outlook by Category
By Type:
- Physical NGFW Appliance
- Virtual NGFW Appliance
By Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
By Industry:
- IT & Telecom
- BFSI
- Healthcare
- Manufacturing
- Retail
- Government
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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