The global network security firewall market is expected to grow at a significant CAGR during the forecast period (2024-2031). A network firewall may be set up to require all data entering and departing the network to go through it. It does so by inspecting each incoming communication and rejects those that do not satisfy the established security standards. A firewall, when correctly set, allows users to access all resources they require while preventing unauthorized users, hackers, viruses, worms, or other harmful applications from gaining access to the protected network. A firewall may monitor all traffic entering or exiting a network, and control remote access to a private network using secure authentication certificates and logins, in addition to limiting access to a protected computer and network.
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The growing requirement to protect communication channels from unauthorized access and data abuse, as well as maintain network security between the external and internal networks to protect the organization from fraud and data breaches, is driving the market’s growth. Furthermore, the fast use of cloud technologies, as well as the growing need for security services to minimize the risk of cyber-attacks, are all driving the global network security firewall market growth. The use of network security firewalls is increasing across many end-user organizations to safeguard data and information from security breaches and cyber-attacks. As a result, the global network security firewalls market is expected to grow.
Furthermore, from April 6 2020 to April 13 2020, Google received around 18 million daily malware and phishing emails linked to Covid-19 frauds, on top of the 240 million daily spam letters it receives related to Covid-19. The global network security firewalls market is expected to grow as a result of the increase in such activities, since firewalls are a crucial security component for always-on connections, and organizations require network firewalls to secure network infrastructure.
To expand their footprints in this market, the major players use various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others. For instance, in July 2019, Palo Alto Networks bought Twistlock, the leader in container security as part of its Prisma cloud security strategy. This purchase strengthened the company’s capacity to protect today’s contemporary applications across their full life cycle, allowing businesses to offer secure, dependable, and scalable innovations.
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Market Coverage
- Segment Covered-
o By Component
o By Type
o By Deployment
o By End-User
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the world
- Competitive Landscape: Cellusys, Adaptive Mobile Security Ltd., Mobileum, Tata Communication, and AMD Telecom.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Network Security Firewall Market by Segments
By Component
- Solutions
- Services
By Type
- Packet Filtering
- State full Packet Inspection
- Next-Generation Firewall
By Deployment
- On-Premises
- Cloud
- Network Functions Virtualization (NFV)
By End-User
- Telecommunication and IT
- BFSI
- Education
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