Press Releases

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 introduction of a virtual next-generation firewall providing security to the virtual network will be a key opportunity for the global NGFW market shortly.  

Government and public utilities are expected to account for the largest market share by 2030

Based on 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 Segmentation and Key Players

Segment / Key Players	Categorization
Component	Solution and Service
Delivery Type	Hardware, Virtual, and Cloud
Service	Professional (Consulting, Support and Maintenance, System Integration), and Managed
Organization Size	Large Enterprise and Small and Medium Enterprise
Industry Vertical	Banking, Financial Services, and Insurance, Retail, IT and Telecommunications, Government and Public Utilities, Healthcare, Energy and Utilities, and Others
Key Players	Cisco Systems, Inc., Check Point Software Technologies Ltd, Palo Alto Networks, Inc., Barracuda Networks, Inc., Fortinet, Inc., Sonicwall Inc., Zscaler, Inc., Forcepoint LLC, Juniper Networks, Hillstone Networks, Sophos Ltd., and GajShield Infotech (I) Pvt. Ltd.

Geography Insight

Geographically, North America followed by Europe is the largest next-generation firewall market in terms of revenue. Being home of several large economies and financially and technologically advanced regions, these regions capture a major market share of NGFW.

Competitive Insight

Some of the key players operating in the next-generation firewall market are Cisco Systems, Inc., Check Point Software Technologies Ltd, Palo Alto Networks, Inc., Barracuda Networks, Inc., Fortinet, Inc., Sonicwall Inc., Zscaler, Inc., Forcepoint LLC, Juniper Networks, Hillstone Networks, Sophos Ltd., and Gajshield Infotech (I) Pvt. Ltd.

Key Takeaway from the Report:

• Among all the components, the solution segment captured the highest market share in 2023.
• Of all the delivery types, cloud-based firewall is the fastest growing delivery type in the next-generation firewall market.
• Among all the services, the professional service segment accounted for a larger share of the next-generation firewall market in 2023.
• Among all the organization sizes, SMEs are expected to account for larger market share in 2023
• Of all industries, government and public utilities are expected to account for the largest market share by 2030.

The Report Offers:

• Historical market estimate for the years 2018–2023 and forecast for the years 2025–2030
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview, and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players

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The report provides the market value for the base year 2023 and a yearly forecast till 2030 for revenue (USD Billion). The report segments the global next-generation firewall market based on component, delivery type, service, organization size, industry vertical, and region.

Global Next-Generation Firewall Market Coverage

Component Insight and Forecast 2025 – 2030

• Solution
• Services

Delivery Type Insight and Forecast 2025 – 2030

• Hardware
• Virtual
• Cloud

Service Insight and Forecast 2025 – 2030

• Professional
  • Consulting
  • Support and Maintenance.
  • System Integration
• Managed

Organization Size Insight and Forecast 2025 – 2030

• Large Enterprises
• Small & Medium Enterprises

Industry Vertical Insight and Forecast 2025 – 2030

• BFSI
• Retail
• IT & Telecommunications
• Government and Public Utilities
• Healthcare
• Energy and Utilities
• Other

Geographical Segmentation

Next-Generation Firewall Market by Region

North America

• By Component
• By Delivery Type
• By Service
• By Organization Size
• By Industry Vertical
• By Country – U.S., Canada, and Mexico

Europe

• By Component
• By Delivery Type
• By Service
• By Organization Size
• By Industry Vertical
• By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

• By Component
• By Delivery Type
• By Service
• By Organization Size
• By Industry Vertical
• By Country – China, Japan, India, South Korea, Singapore, Taiwan, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Component
• By Delivery Type
• By Service
• By Organization Size
• By Industry Vertical
• By Country – Brazil, South Africa, Saudi Arabia, and Other Countries