Next-generation firewall market categorizes the global market by delivery type as hardware, virtual & cloud, by service as professional and managed, by organization size, by vertical and by region.
Seattle, WA -- (SBWIRE) -- 07/11/2017 -- With the growing trends such as Bring Your Own Device (BYOD), mobility, and cloud computing, many enterprises are focusing on various areas of their IT infrastructure which needs to be secured as network security is always a priority for organizations. To improve their existing network security solutions, enterprises have begun to evaluate their firewall technology. Enterprises are replacing their traditional firewall with the Next Generation Firewall (NGFW), which has gained significant traction since some time. NGFW is highly adopted in large enterprises as it fulfills the demand of easy operation in complex networks. However, the major challenge for this device remains to be the constant increase in the number of web applications affecting the policy configuration of firewall setup.
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The major forces that have fueled the growth in this market are strict regulations and compliances from government, increase in external and internal threats, cloud computing, and increase in workforce mobility. Also, lack of awareness about security solutions across emerging economies along with the competition of firewall from UTM devices are acting as a hurdle in the growth of the market. Furthermore, penetration in SMB's with cost-effective firewall solutions is the opportunity for big vendors in the market.
The market remains to be competitive with the entry of niche players. These players provide innovative integrated software and tools thereby increasing their market bargain capability among the large vendors. The major vendors in the enterprise firewall market are Cisco Systems, Dell SonicWall, Fortinet, CheckPoint Technologies, PaloAlto networks, McAfee, AlgoSec, Juniper Networks, Imperva, and WatchGuard.
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The report also segments the market by sub-verticals (Government and public utilities, BFSI, healthcare, telecommunication, manufacturing, education, retail, media and entertainment, and others)and by regions (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The detailed analysis of the key industry players have been done to provide the insight on their product and services, strategy, and recent developments associated with enterprise firewall market.
MarketsandMarkets forecasts that the global enterprise firewall market is expected to grow from $6.14 billion in 2014to $8.41 billion by 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 6.49% from 2014 to 2019. In the current scenario, North America is expected to be the largest market on the basis of spending and adoption of firewall solutions and services.
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