Firewall as a Service Market Highlights:
Global firewall as a Service market 2020 is planning to reach a value of ~1.98 billion by the year end of 2023, which staggering at a CAGR of ~23.01% in the years from 2017 to 2023 (forecast period). Market Research Future presents the study after an in-depth research conducted by the experts. In the study, the expects have discussed about in-depth commentary on the key influencing factors, statistics in terms of revenues, segmental data, regional data, and captures all the facets of the evolving firewall as a Service market.
The rising cases of cyber-attacks have impacted every industry, and has become a global concern. The exponential rise of cyber-attacks in the past few years has plagued the industry in every way. Owing to this, the trend of BYOD (Bring Your Own Device) started at a rapid pace that somehow lessen up the impact of attacks and affected the market of firewall as a Service. The adoption of BYOD has a high effect on firewall as a Service market as it restricts data breaching from the systems. Other than this, other factors such as digital payments and usage of connected devices around the world has also caused the global market to expand variably. The expansion of firewall as a Service has led to rise in the hacking of devices, which impacted its global market.
Flood of technological developments in the security sector against unauthorized and unprecedented crimes and has also witnessed substantial growth aspects in the market of Firewall as a Service Market. It is due to increasing initiatives taken by regulatory authorities to improve the safety of the database of end-users. As it is evident that firewall services assist businesses in protecting end-to-end database and web application, therefore, the growth of NGFW (next-generation firewall) has completely changed the scenario with added features such as deep packet inspection (DPI), application programming interface (API), filtering, intrusion prevention system (IPS). All these are now developing more and more opportunities in the firewall market to make it profitable in the future.
In the latest, firewall devices have gained an element of importance in network security, based on the technological advancements being done in product design. This caters to the terms of performance, sophistication, and functionality. Furthermore, the key trends highlighting the competitive scenario of this market are directed towards rising inclination of firewall suppliers towards signing strategic partnerships with cloud based organizations to surge their customer base across the globe. The last, but not the least a subsequent rise in the number of internet users, expanding banking, financial services and insurance (BFSI) sector, as well as growth in research & development investments for security infrastructure are yet other influential factors motivating firewall as a service market to expand in the future.
On the contrary, some challenges are hindering the growth of market. The factors being labelled as lack of technical expertise to manage lack of governance & robust network infrastructure as well as advanced firewall mechanism.
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Key Market Players:
The bulging players in the market of Firewall as a service are listed as Check Point Software Technologies (Israel), Barracuda Networks (US), Cisco Systems (US), Cato Networks (Israel), Forcepoint (US), Fortinet (US), WatchGuard (US), Juniper Networks (US), and Zscaler (US).
Firewall as A Service Market: Segmentation
The segmental analysis of the global firewall as a service market has been conducted over various segments of the solution, services model, deployment model, organizational model, and verticals.
- In terms of solution, the market gets segregated into traffic control and monitoring, advanced threat protection, network security, next-generation firewall, managed services, identity management, and others.
- In terms of services model, the market gets segregated into Infrastructure as a Service (IaaS), Platform as a service (PaaS), and Software as a service (SaaS).
- In terms of deployment model, the market gets segregated into private, public, and hybrid clouds.
- In terms of organizational size, the market gets segregated into small & medium-sized enterprises and large enterprises.
- In terms of verticals, the market is categorized into Education, BFSI, Government, Energy & Utilities, Manufacturing, Healthcare, IT & Telecom, Retail, and others.
Asia Pacific, Europe (including Russia), North America, and the rest of the world (including the Middle East, Africa, and Southern America) are the prime regions where the study of the global firewall as a service market has carried over.
The study reveals that the region of North America is likely to have the highest market share during the growth course owing to the mounting adoption of cloud services by various governments, and digital transformation, better security complaints by sellers and rising need to prevent cyber threats.
The market in the Asia Pacific region is also anticipating to expand at a faster rate owing to technological advancements and better security compliance provided by vendors and the increasing need to avert cybercrimes.
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List of Tables
Table 1 Firewall as a Service Market: By Region, 2018-2023
Table 2 North America Firewall as a Service Market: By Country, 2018-2023
Table 3 Europe Firewall as a Service Market: By Country, 2018-2023
List of Figures
Figure 1 Global Firewall as a Service Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Global Firewall as a Service Market
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