The network security firewalls market is projected to be worth US$ 19677 million, up from US$ 4882 million in 2022, growing at a CAGR of 15%.
The growing use of web applications and the increasing demand for advanced security services to mitigate the risk of cyber-attacks are factors that are fueling the growth of the Network Security Firewalls market.
Due to the growing momentum of interconnected devices, the risk of security is increased and to protect the data and information from security breaches and cyber-attacks the adoption of network security firewalls is increasing in various enterprises and this ultimately drives the growth of network security firewalls. Also, the adoption of network security firewalls for cloud technology is fueling the growth of the network security firewalls market.
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Nowadays, most medium and large-scale organization has a presence on the Internet and has an organizational network connected to it. Therefore, network security firewalls are used to maintain network security between the outside internet and the internal network to protect the business against fraud and data breaches.
Also, network security firewalls help enterprises secure communication pathways from unauthorized access and data misuse, and due to this the network security firewalls market is growing at a rapid pace.
Network Security Firewalls Market: Drivers and Restraints:
Drivers:
The advancement in security management services is the primary growth factor that is driving the growth of the Network Security Firewalls market. Also, the increasing number of mobile threat issues in enterprises is supporting the rapid adoption of the network security firewalls market. Moreover, to handle the serious and highly variable risk associated with an exposed security posture, the need for Network Security Firewalls is increasing rapidly.
Apart from this, the increasing adoption of network security firewalls by various enterprises to protect their data and information from cyber-attacks is also driving the growth of the network security firewall market.
Restraints:
The key challenge in the network security firewall market is the vulnerability to cyber-attacks. Also, device and system compatibility is a major challenge that may hamper the growth of the Network Security Firewalls market. Moreover, the lack of preventive firewall maintenance among telecom organizations is also one of the factors that may hamper the growth of the network security firewall market.
Leading Key Players:
The prominent players in the Network Security Firewalls market include SAP SE, Hewlett Packard Enterprise, Cellusys, Symsoft, Openmind Networks, Tata Communications, ANAM Technologies, AMD Telecom, Adaptive Mobile, Infobip, and others
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Network Security Firewalls Market: Regional Overview:
On a geographic basis, North America is anticipated to capture the largest and fastest growing network security firewalls market in terms of revenue, owing to rapid advancement in mobile security technologies and the presence of various key players in the region.
APAC and MEA are also anticipated to witness high growth rates in the Network Security Firewalls Market over the next coming years due to the increasing number of smartphones and rapid adoption of Network Security Firewalls in various enterprises in the region.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, applications, and industries.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. and Brazil)
- Western Europe (Germany, Italy, France, UK, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Network Security Firewalls Market Segmentation:
By Type:
- Stateful Packet Inspection
- Next-Generation Firewall
- Packet Filtering
- Unified Threat Management
By Solution:
- Signalling Firewall
- SMS Firewall
By Services:
- Professional Services
- Managed Services
By Deployment:
- On-premises
- Cloud
- Virtualization
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
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