Next-Generation Firewall Market Research Report- Forecast till 2027
Market Overview
Increase in incidences of cyberattacks, government’s strict rules on data security, and a rise in cybersecurity budgets are top factors that are boosting the adoption of next-generation firewall, which is probably going to surge the market.
Potential cyberattacks, like malware, web-based exploit kits, application-layer attacks, ransomware, and other targeted threats are rising, as online generation of knowledge is increasing. additionally , the introduction of web-based applications and cloud technology have added layers of the network framework, which may to simplify the penetration of malware and increase scope of knowledge breach and rise cases of malware. This is often expected to spice up the next-generation firewall market, because the demand for a modified version of network security is surging. The coupling of trusted intelligence and advanced technical expertise that's provided by the next-generation firewalls is predicted to pack a punch for the market growth. Enterprises’ growing inclination towards can boost the expansion of the market. Growing number of sales of electronic devices, such as, mobile devices and smart TVs, which are working on the connection of internet is taken into account to spice up the expansion of the next-generation firewalls market within the years of assessment. On the contrary, high cost of installation and maintenance can hinder the expansion of the market.
Challenges in the next-generation firewall market
The Next Generation Firewall Industry faces many challenges every day. The presence of traditional firewalls is a big challenge for the next-generation firewall market. Businesses and many organization are using the same traditional solution to provide security, and they prefer these solutions because it is less complex. Businesses are not used to the technically advanced new solutions, so they are using the old firewalls. It is a big challenge to make people understand these new solutions that are more effective than the traditional firewalls. And another thing is people are not aware of the advanced cyber threats, so they don’t use advanced security solutions for their businesses. A low level of awareness about advanced cyber threats becomes a challenge for the next-generation firewall market.
Opportunities
With the growth of the internet, the next-generation firewall market is facing so many opportunities over the years. The opportunities for the market are Single vendor firewall deployment and High growth opportunities in virtual NGFW.
Cumulative growth
The key players of the next-generation firewall market are the reason behind the market growth, and these key players have understood the value of the next-generation firewall market, and they are contributing to the market in a big way. It is expected next-generation firewall market will grow more in the upcoming years, and key players will play a vital role in it.
Value chain analysis
The global next-generation firewall market is expected to grow at 11.4% CAGR between 2017-2023, and it is expected to grow $4.69 billion as more electronic devices are connected, and the trend of loT is increasing. The market will grow in order to provide protection to the network infrastructure.
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Global Next-Generation Firewall Market, by Security Type (Firewall, Unified Threat Management, Network Security, Identity-based security), By Solution (Cloud, Virtual, Hardware), By Organization Size, By Services, By End Users (Telecommunication and IT, Government and Defense, BFSI) - Forecast 2027
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