The Next-Generation Firewall Market is expected to attain a market size of $4.7 billion by 2023, growing at a CAGR of 13.6% during the forecast period. Next-generation firewall (NGFW) appliances are capable of delivering very specific security solutions such as firewall, intrusion prevention, application control and others. The prevalent security threats and available anti-security breach technologies have significantly evolved over time. The demand for newer and superior network security services and solutions has been unprecedented in the recent years.
The basic NGFW applications therefore have a combination of multiple solutions such as SSL inspection, website filtering, QOS, antivirus inspection, and also sandboxing. The Next-Generation Firewall market is driven due to factors such as significantly high adoption of BYOD and IoT devices, growing internal and external threats, and the demand for superior functional NGFW solutions. Based on the component type, the Next Generation Firewall market is segmented into Solution and Services. The Solutions market is segmented into Hardware, Virtual and Cloud Based. The services are further segmented into Professional and Managed Services.
Based on Organization Size, the market is segmented into Small & Medium Sized and Large Enterprises. The verticals covered under the report include BFSI, Government, Energy & Utilities, Healthcare, Retail, Telecom & IT, Education and Others. Based on Region, the market is segmented into North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa. The report covers the analysis of key stake holders of the Next-Generation Firewall Market. Key companies profiled in the report include Cisco Systems, Check Point Software Technologies, Palo Alto Networks, Inc., Barracuda Networks, Inc., Fortinet Inc., Sonicwall Inc., Raytheon (Forcepoint LLC), Juniper Networks, Hillstone Networks, and Sophos, Ltd.