PUBLISHER: 360iResearch | PRODUCT CODE: 1494657
PUBLISHER: 360iResearch | PRODUCT CODE: 1494657
[183 Pages Report] The Next-generation Firewall Market size was estimated at USD 5.51 billion in 2023 and expected to reach USD 6.11 billion in 2024, at a CAGR 11.34% to reach USD 11.70 billion by 2030.
The Next-Generation Firewall (NGFW) is an integrated network platform combining a traditional firewall with other network device filtering functionalities, including an application firewall using in-line deep packet inspection (DPI), an intrusion prevention system (IPS). The evolving complexity of cyber threats drives demand for NGFWs capable of dynamic and context-aware security measures. Stringent data protection regulations across the globe necessitate advanced security measures, thereby bolstering the adoption of NGFWs.Increasing digitization initiatives help migrate businesses to cloud and digital platforms, escalating the need for robust cybersecurity measures to secure critical data and infrastructure. However, lack of skilled personnel for effective utilization of advanced features of NGFWs may limit the market expansion. Ensuring compatibility and interoperability with existing security systems and network infrastructure may pose challenges for market growth. Moreover, leveraging AI and machine learning algorithms to enhance threat detection capabilities and automate response actions create opportunities for market expansion. Integrating Zero Trust Network Access (ZTNA) principles into NGFWs to provide more secure and controlled access to resources in a distributed network environment may also create growth potential in the market space.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 5.51 billion |
Estimated Year [2024] | USD 6.11 billion |
Forecast Year [2030] | USD 11.70 billion |
CAGR (%) | 11.34% |
Regional Insights
In the Americas region,the NGFW market is driven by stringent regulatory requirements and a high cybersecurity awareness among businesses. The United States and Canada have a significant presence of market players, escalating demand for advanced security solutions. Canada's emphasis on data protection laws has influenced the NGFW market, with organizations prioritizing advanced security solutions, offering granular control and visibility. The NGFW market in the EMEA region is largely influenced by the General Data Protection Regulation (GDPR), which mandates robust data security measures. EU customers strongly prefer NGFW solutions that ensure compliance and offer advanced data protection features, such as encryption and intrusion prevention systems. In the Middle East, digital transformation initiatives across various sectors are driving the demand for NGFW solutions. Africa's NGFW market is in its nascent stages but shows promise due to increased internet penetration and a growing awareness of cyber threats. In the APAC region, the NGFW market is expanding rapidly due to rising emphasis on digital transformation and the establishment of stricter cybersecurity laws. Japan's mature market for NGFW is driven by a highly tech-savvy consumer base and a strong regulatory framework for cybersecurity. India's rapidly growing digital economy has propelled the demand for NGFW solutions, particularly for cloud and hybrid environments. The focus is on scalable, flexible solutions that offer cost-effectiveness without compromising on security, contributing to the market growth in the region.
Market Insights
The market dynamics represent an ever-changing landscape of the Next-generation Firewall Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Next-generation Firewall Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Next-generation Firewall Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Enhanced Cloud Security offered by GajShield's Integration with Microsoft Azure for Data Protection
GajShield's Next Generation Firewall, renowned for its advanced data security features, is now available on Microsoft Azure, marking a significant step forward in cloud security solutions. GajShield is focused on delivering data-centric security measures, aiming to fortify cloud environments and assist enterprises in navigating the digital landscape safely. This advancement underscores GajShield's commitment to enhancing data security in the cloud, enabling organizations to leverage cutting-edge technology to protect their digital assets efficiently. [Published On: 2023-10-20]
Palo Alto Networks Launches Cutting-Edge Cloud Firewall Service on Microsoft Azure
Palo Alto Networks announced the introduction of its state-of-the-art, ML-Powered Next-Generation Firewall (NGFW) on Microsoft Azure, now available as a fully integrated service. This development marks a significant step in cloud security, offering unmatched protection features including Advanced Threat Prevention, URL Filtering, WildFire, and DNS Security. Utilizing the power of AI and ML, this service aims to neutralize known, unknown, and emerging threats, facilitating a safer and more efficient migration of applications to Azure for its users. [Published On: 2023-05-02]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Next-generation Firewall Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Next-generation Firewall Market, highlighting leading vendors and their innovative profiles. These include Atrity Info Solutions Private Limited, Barracuda Networks, Cato Networks, Check Point Software, Cisco Systems, Inc., CrowdStrike, Dell Technologies, Easi, Forcepoint, Fortinet Inc., Hillstone Networks, Huawei Technologies Co. Ltd., Juniper Networks Inc. by Hewlett Packard Enterprise, New H3C Technologies Co., Ltd., Nomios Group, NordLayer, Palo Alto Networks Inc., Sangfor Technologies, SonicWall, Sophos Technologies Pvt. Ltd., Versa Networks, WatchGuard, and Zscaler Inc..
Market Segmentation & Coverage