Categories: Market Research

Global Next-Generation Firewall Market Size and Forecast 2024-2033|Cisco Systems Inc., Barracuda Networks Inc., Check Point Solution Technologies Ltd., Juniper Networks Inc., Huawei Technologies Co. Ltd

The Next-Generation Firewall by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Next-Generation Firewall , The next-generation firewall market size has grown rapidly in recent years. It will grow from $4.62 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to transition from traditional firewalls, rise of advanced threats, increased emphasis on application security, mobile and remote access security needs, evolving network complexity.

The next-generation firewall market size is expected to see rapid growth in the next few years. It will grow to $8.01 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to rise in cyber threats complexity, remote workforce security needs, cloud migration and hybrid environments, zero trust architecture implementation, iot device security.. Major trends in the forecast period include iot security focus, machine learning and ai integration, ssl/tls inspection capability, enhanced user identity management:, zero trust architecture adoption, cloud-based security solutions.

The rise in demand for advanced cybersecurity solutions is expected to propel the growth of the next-generation firewall market going forward. Cybersecurity solutions refer to the use of technologies, procedures and safeguards to defend against cyberattacks on systems, networks, programs, devices and data. A next-generation firewall belongs to the third generation of firewall technology and is used to address advanced security threats at the application level. For instance, in December 2022, according to a report shared by Tech Target, a US-based media source dedicated to serving business technology buyers, 3,932 publicly disclosed breach events were reported during the year. By the end of September 2021, there had already been 17% more breaches than there had been in all of 2020. Therefore, a rise in demand for advanced cybersecurity solutions is driving the growth of the next-generation firewall market.

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The next-generation firewall market covered in this report is segmented

1) By Component: Solution, Services

2) By Type: Hardware, Virtual, Cloud-Based

3) By Enterprise Size: Large Size Enterprises, Small And Medium Sized Enterprises (SMEs)

4) By Industry Vertical: BFSI, Retail, IT And Telecommunication, Healthcare, Energy And Utilities, Manufacturing, Government, Other Industry Verticals

Subsegment: Professional Service, Managed Service, Support And Maintenance, Training And Education, Consulting Service, System Integration, Other Services

Product innovation is a key trend gaining popularity in the next-generation firewall market. Major companies operating in the next-generation firewall market are focused on developing a new product to strengthen their position in the market. For instance, in August 2021, Fortinet Cybersecurity Corporation, a US-based company that develops and sells cybersecurity solutions, launched FortiGate 3500F, its latest next-generation firewall for hybrid data centers. FortiGate 3500F is built with hybrid data centers in mind and provides automatic threat protection post-decryption, zero trust network access (ZTNA)and proxy capabilities. Along with adding further security measures such as anti-virus, mail security, anti-DDoS, IPSand anti-malware solutions, FortiGate 3500F is the first in the industry that natively interacts with FortiGuard Security Services.

The next-generation firewall market report table of contents includes:

1. Executive Summary

2. Next-Generation Firewall Market Characteristics

3. Next-Generation Firewall Market Trends And Strategies

4. Next-Generation Firewall Market – Macro Economic Scenario

5. Global Next-Generation Firewall Market Size and Growt

26. South America Next-Generation Firewall Market

27. Brazil Next-Generation Firewall Market

28. Middle East Next-Generation Firewall Market

29. Africa Next-Generation Firewall Market

30. Next-Generation Firewall Market Competitive Landscape And Company Profiles

Top Major Players: