The global Next-generation Firewall Market is estimated to reach USD 6,719.56 million by 2025 and is anticipated to grow at a CAGR of 12.9% during the forecast period, according to a comprehensive study added by Report Ocean,
The report offers an in-depth analysis of major driving factors, segments, regions & countries and key players in the market. Moreover, the report also outlines the competitive scenarios across different geographies along with key developments which include mergers and acquisitions, new product or services development, R&D activities, thus giving insights to the market players about the major regions gaining traction.
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Growth Factors and Restraints
Next-generation firewalls are advanced firewalls, which offer additional features such as active directory integration support, malware filtering based on reputation, and SSH & SSL inspection. The technology possesses capabilities to detect and block complicated attacks through security measures at the port, protocol, and application level. These firewalls are implemented in various models, including software or hardware. Increase in preference of organizations toward online applications and SaaS services has raised the security concerns regarding the normal inspection of ports and protocols, as it is insufficient to provide effective network security. This ongoing migration of IT workloads to cloud such as Microsoft Azure, and Google Cloud Platform along with the increase in hybrid network architectures complexities are the next-generation firewall market trends that drive the growth of the market. However, lack of cyber-security professionals and performance issues of these firewalls associated with cloud protection are some factors that hinder the growth of the growth.
The worldwide Next-generation Firewall market research report provides a deep-dive analysis of the present market situation and future market trends. The analysis provided in the report help the manufacturers, companies, service providers, etc. as a major guiding factor for decision making and analyzing the current and future market situations. The report also analyzes the major players operating in the market.
List of major players operating in the Next-generation Firewall market include:
Barracuda Networks, Check Point, Cisco, Forcepoint, Fortinet, Huawei, Juniper Networks, Palo Alto Networks, SonicWall, and Sophos.
The hardware based next-generation firewalls segment dominated next-generation firewall market share in 2017 and is projected to maintain its dominance during the forecast period owing to its superior layer of protection because of its perimeter network position. Moreover, these firewalls are independent of the OS, browsers, and other software on the networked device. Furthermore, cloud-based NGFW are expected to grow at a significant CAGR during the forecast period, owing to capabilities possessed by these firewalls to eliminate the appliance form factor, reduce the operational and capital expenses associated with appliance upgrades and unmitigated vulnerabilities.
The global next-generation firewall industry was led by the BFSI industry in 2017 and is projected to maintain its dominance during the forecast period. However, the healthcare segment is expected to witness the highest growth rate. NGFW plays an essential in HIPAA compliance and helps defend malicious attacks and unauthorized access. In addition, increase in adoption of EHRs in the developing countries are expected to create opportunities for the next-generation firewall market as EHRs and its clinical data is highly vulnerable to several cyber-attacks.
In 2017, the global next-generation firewall market share was dominated by North America, and is expected to maintain this trend during the forecast period. The major factors driving the growth of the next-generation firewall market in this region include high cyber security spending among financial organizations and public sector supported by significant adoption of BYOD, cloud, and IoT based devices. However, the Asia-Pacific segment is expected to witness the highest growth, owing to rise in digital security spending among developing countries such as China, South Korea, India, and Taiwan in the region. In addition, development of smart cities in the region possess significant growth capabilities.
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Major highlights of the Table of Contents of the study:
- Market Overview & Summary
- Market Dynamics
- Market Share Analysis
- PORTERS Analysis
- PESTEL Analysis
- Value-chain Analysis
Why purchase this report
- The report would provide an in-depth analysis of the current and future market trends
- Analysis of both global, regional and country lever markets
- Key strategic initiatives are taken by major players operating in the market along with ranking analysis for the key players
- Analysis based on historical information along with the current trends to estimate the future of the market
- Analysis of the impact of constantly changing global market scenarios on the market
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