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 Billion by 2032.
Sales in the market are expected to reach a valuation of ~US$ 3.3 Billion 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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