The global next-generation firewall (NGFW) market size reached US$ 5.0 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 10.4 Billion by 2028, exhibiting a growth rate (CAGR) of 12.5% during 2023-2028.
The NGFW refers to the third generation of network firewalls that manages and secures data transmitted from routers, servers and switches. It is often integrated with intrusion prevention and cloud-delivered threat intelligence and utilizes whitelists or signature-based intrusion detection systems (IDS) to distinguish between safe and unwanted applications. In comparison to the previously used firewalls, NGFW can use both dynamic and static packet filtering that ensures the advanced security of the connections in the network. Owing to this, these solutions find extensive applications across the banking, financial services and insurance (BFSI), government and public sector, retail, healthcare, education, information technology (IT), energy and manufacturing industries.
2. What is the expected growth rate of the global next-generation firewall (NGFW) market during 2023-2028?
3. What are the key factors driving the global next-generation firewall (NGFW) market?
4. What has been the impact of COVID-19 on the global next-generation firewall (NGFW) market?
5. What is the breakup of the global next-generation firewall (NGFW) market based on the type?
6. What is the breakup of the global next-generation firewall (NGFW) market based on the deployment type?
7. What is the breakup of the global next-generation firewall (NGFW) market based on security type?
8. What is the breakup of the global next-generation firewall (NGFW) market based on the organization size?
9. What is the breakup of the global next-generation firewall (NGFW) market based on the vertical?
10. What are the key regions in the global next-generation firewall (NGFW) market?
11. Who are the key players/companies in the global next-generation firewall (NGFW) market?
The NGFW refers to the third generation of network firewalls that manages and secures data transmitted from routers, servers and switches. It is often integrated with intrusion prevention and cloud-delivered threat intelligence and utilizes whitelists or signature-based intrusion detection systems (IDS) to distinguish between safe and unwanted applications. In comparison to the previously used firewalls, NGFW can use both dynamic and static packet filtering that ensures the advanced security of the connections in the network. Owing to this, these solutions find extensive applications across the banking, financial services and insurance (BFSI), government and public sector, retail, healthcare, education, information technology (IT), energy and manufacturing industries.
Next-Generation Firewall Market Trends:
The rising threat of cyberattacks, along with the rapid adoption of the internet of things (IoT) technology across various industries, is one of the key factors driving the growth of the market. Owing to the increasing usage of bring your own device (BYOD), smartphones, social media, and cloud services, there is a significant rise in the instances of data thefts. This is encouraging organizations to adopt advanced security measures, such as NGFW, for data protection. Furthermore, increasing product adoption by the BFSI sector is acting as another growth-inducing factor. Resulting from an increasing need to protect high volumes of sensitive data, along with the widespread adoption of digital currency across the globe, banking institutions are adopting NGFW to secure payment gateways and transaction portals. Additionally, various technological advancements, such as the development of highly configurable and scalable NGFW systems, are also creating a positive outlook for the market. Other factors, including increasing governmental spending on improving cybersecurity systems and extensive research and development (R&D) activities, are projected to drive the market further.Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global next-generation firewall market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, deployment type, security type, organization size and vertical.Breakup by Type:
- Solutions
- Hardware Solutions
- Software Solutions
- Services
- System Integration Services
- Consulting Services
- Support and Maintenance Services
- Training and Education Services
- Managed Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Security Type:
- Firewall
- Unified Threat Management
- Network Security
- Identity Based Security
- Others
Breakup by Organization Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Breakup by Vertical:
- Banking, Financial Services and Insurance (BFSI)
- IT and Telecom
- Government and Public Utilities
- Retail
- Education
- Healthcare
- Energy and Utilities
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being Barracuda Networks Inc., Check Point Software Technologies, Cisco Systems, Forcepoint LLC, Fortinet Inc., Gajshield Infotech Pvt Ltd., Hillstone Networks Co., Juniper Networks Inc., Palo Alto Networks Inc., Sonicwall Inc., Sophos Ltd., Zscaler Inc., etc.Key Questions Answered in This Report
1. What was the size of the global next-generation firewall (NGFW) market in 2022?2. What is the expected growth rate of the global next-generation firewall (NGFW) market during 2023-2028?
3. What are the key factors driving the global next-generation firewall (NGFW) market?
4. What has been the impact of COVID-19 on the global next-generation firewall (NGFW) market?
5. What is the breakup of the global next-generation firewall (NGFW) market based on the type?
6. What is the breakup of the global next-generation firewall (NGFW) market based on the deployment type?
7. What is the breakup of the global next-generation firewall (NGFW) market based on security type?
8. What is the breakup of the global next-generation firewall (NGFW) market based on the organization size?
9. What is the breakup of the global next-generation firewall (NGFW) market based on the vertical?
10. What are the key regions in the global next-generation firewall (NGFW) market?
11. Who are the key players/companies in the global next-generation firewall (NGFW) market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis
2 Scope and Methodology
4 Introduction
5 Global Next-Generation Firewall Market
6 Market Breakup by Type
7 Market Breakup by Deployment Type
8 Market Breakup by Security Type
9 Market Breakup by Organization Size
10 Market Breakup by Vertical
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Barracuda Networks Inc.
- Check Point Software Technologies
- Cisco Systems
- Forcepoint LLC
- Fortinet Inc.
- Gajshield Infotech Pvt Ltd.
- Hillstone Networks Co. Juniper Networks Inc.
- Palo Alto Networks Inc.
- Sonicwall Inc.
- Sophos Ltd.
- Zscaler Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | October 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 5 Billion |
| Forecasted Market Value ( USD | $ 10.4 Billion |
| Compound Annual Growth Rate | 13.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
