| Status : Published | Published On : Aug, 2024 | Report Code : VRICT5144 | Industry : ICT & Media | Available Format :
|
Page : 159 |
Global Next-Generation Firewall (NGFW) Market – Analysis and Forecast (2025-2030)
Industry Insights by Component (Solution and Service), by Delivery Type (Hardware, Virtual, and Cloud), by Service (Professional (Consulting, Support and Maintenance, System Integration), and Managed), by Organization Size (Large Enterprise and Small and Medium Enterprise), by Industry Vertical (Banking, Financial Services, and Insurance, Retail, IT and Telecommunications, Government and Public Utilities, Healthcare, Energy and Utilities, and Others) and by Geography (North America, Europe, Asia-Pacific, Middle East, and Rest of the World)
Industry Overview
The global Next-Generation Firewall Market is expected to reach USD 7.6 billion by 2030, growing at a CAGR of 12.8% during the forecast period. The global next-generation firewall (NGFW) market is growing at a remarkable rate being the essential foundation component in any network security architecture. Firewalls have always been an essential requirement for any enterprise security. As a result, currently, due to the high-risk business landscape, third-generation device protection is required against progressively erudite attack tactics. An NGFW is defined as an integrated network platform combining a basic firewall with application-specific granular controls to spot application-specific attacks.
.JPG "Next-Generation Firewall (NGFW) Market Highlights")
NGFW combines traditional firewall protections with more advanced features, including intrusion detection, in-line deep packet inspection, and website filtering. The prime reason behind the growth of NGFW is due to their capability to resolve web-based threats, malware, application-layer attacks, and other dangerous cyber threats.
Next-Generation Firewall (NGFW) Market Segmentation
Insight by Component
On the basis of components, the market is bifurcated into solutions and services. Among both components, the solution segment captures a larger market share in 2021 and is expected to grow at a faster rate, owing to its numerous applications.
Insight by Delivery Type
On the basis of delivery type, the market is subdivided into hardware, virtual, and cloud. Among these, the cloud-based firewall is the fastest-growing delivery type in the next-generation firewall market with large number of SMEs adopting the type.
Insight by Service
On the basis of service, the market is subdivided into professional and managed. The professional service is further segmented as consulting, support and maintenance, and system integration. Of all these applications, the professional service segment accounted for a larger share of the next-generation firewall market.
Insight by Organization Size
On the basis of organization size, the market is bifurcated into large enterprises and small and medium enterprises (SMEs). SMEs are expected to account for the larger market share in the current year and is expected to grow at the fastest rate with the rising cyber threat.
Insight by Industry Vertical
On the basis of industry vertical, the market is segmented into banking, financial services, and insurance (BFSI), retail, IT and telecommunications, government and public utilities, healthcare, energy and utilities, and others. Government and public utilities are expected to account for the largest market share by 2030. However, BFSI is expected to grow at the fastest rate during the forecast period.
Global Next-Generation Firewall (NGFW) Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2024 |
U.S.D. XX Billion |
|
Revenue Forecast in 2030 |
U.S.D. 7.6 Billion |
|
Growth Rate |
12.8% |
|
Segments Covered in the Report |
By Component, By Delivery Type, By Service, By Organization Size, and By Industry Vertical |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The rising complexity of virtualized networks and the adoption of cloud computing globally are two of the major trends prevailing in the next-generation firewall market currently.
The growing trend of employees using personal devices for work and the rise in remote work arrangements have expanded the attack surface, necessitating the use of NGFWs to secure network access and protect against unauthorized access.
Next-Generation Firewall (NGFW) Market Growth Drivers
The growing adoption of IoT devices with multiple connected devices requires a resource-friendly security solution precisely equipped to deliver defensive proficiencies against multiple types of Internet-based attacks. This will impact the next-generation firewall progression in the market in the near future.
Increasing cyber threats: The proliferation of sophisticated cyber threats, such as advanced persistent threats (APTs), malware, ransomware, and zero-day attacks, has necessitated the use of advanced security solutions like NGFWs.
Regulatory compliance: Stringent data protection regulations and compliance requirements imposed by governments and industry standards have prompted organizations to invest in robust security solutions like NGFWs to safeguard sensitive information.
Cloud adoption: The migration of applications and data to cloud environments has introduced new security challenges, requiring NGFWs with advanced capabilities to secure cloud-based infrastructure and applications.
Advancements in technology: NGFW vendors continuously innovate and enhance their offerings, incorporating machine learning, artificial intelligence, and automation to detect and mitigate evolving threats effectively.
Next-Generation Firewall (NGFW) Market Challenges
High implementation cost restricts the next-generation firewalls adoption by small and medium enterprises and therefore, act as a challenge for the market at the current time.
Recent Developments By the Key Players
Cisco and Nvidia have partnered to make data center use simpler for customers looking to invest in artificial intelligence that will connect their individual networking structures to make it easier for the customers who work with them.
Check Point Software Technologies Ltd, a cyber security solutions provider, has established its first Asia-Pacific Research and Development (R&D) Centre in Bengaluru, India.
Next-Generation Firewall (NGFW) Market Geographic Overview
Geographically, North America followed by Europe is the largest next-generation firewall market in terms of revenue. Being home to several large economies and financially and technologically advanced region, these regions capture a major market share of NGFW.
However, APAC with rapid digitalization and IoT adoption is the fastest-growing market during the forecast period. In addition, some of the well-recognized BFSI, IT and telecommunication companies also reside in the region, which requires advanced security features. This as a result is creating a positive impact on the next-generation firewall market growth globally.
Next-Generation Firewall (NGFW) Market Competitive Insight
Some of the key players operating in the next-generation firewall market are :
- Cisco Systems
- Check Point Software Technologies Ltd.
- Palo Alto Networks
- Barracuda Networks
- Fortinet
- Sonicwall Inc.
- Zscaler
- Forcepoint LLC
- Juniper Networks
- Hillstone Networks
- Sophos Ltd.
- Gajshield Infotech (I) Pvt. Ltd.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising consumers are also conducted to understand consumer behavior.
The Next-Generation Firewall (NGFW) Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Component
- Solution
- Services
- By Delivery Type
- Hardware
- Virtual
- Cloud
- By Service
- Professional
- Consulting
- Support and Maintenance.
- System Integration
- Managed
- Professional
- By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- By Industry Vertical
- BFSI
- Retail
- IT & Telecommunications
- Government and Public Utilities
- Healthcare
- Energy and Utilities
- Other
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
.png "Next-Generation Firewall Market Size")
Source: VynZ Research
Source: VynZ Research
Frequently Asked Questions
Purchase Options
Latest Report
Research Methodology
- Desk Research / Pilot Interviews
- Build Market Size Model
- Research and Analysis
- Final Deliverabvle
Connect With Our Sales Team
- Toll-Free: 1 888 253 3960
- Phone: +91 9960 288 381
- Email: enquiry@vynzresearch.com
Next-Generation Firewall (NGFW) Market