The global next-generation firewall (NGFW) market grew at a CAGR of around 10% during 2014-2019. The NGFW refers to the third generation of network firewalls that manages and secures data transmitted from routers, servers and switches. It is often integrated with intrusion prevention and cloud-delivered threat intelligence and utilizes whitelists or signature-based intrusion detection systems (IDS) to distinguish between safe and unwanted applications. In comparison to the previously used firewalls, NGFW can use both dynamic and static packet filtering that ensures the advanced security of the connections in the network. Owing to this, these solutions find extensive applications across the banking, financial services and insurance (BFSI), government and public sector, retail, healthcare, education, information technology (IT), energy and manufacturing industries.
The rising threat of cyberattacks, along with the rapid adoption of the internet of things (IoT) technology across various industries, is one of the key factors driving the growth of the market. Owing to the increasing usage of bring your own device (BYOD), smartphones, social media, and cloud services, there is a significant rise in the instances of data thefts. This is encouraging organizations to adopt advanced security measures, such as NGFW, for data protection. Furthermore, increasing product adoption by the BFSI sector is acting as another growth-inducing factor. Resulting from an increasing need to protect high volumes of sensitive data, along with the widespread adoption of digital currency across the globe, banking institutions are adopting NGFW to secure payment gateways and transaction portals. Additionally, various technological advancements, such as the development of highly configurable and scalable NGFW systems, are also creating a positive outlook for the market. Other factors, including increasing governmental spending on improving cybersecurity systems and extensive research and development (R&D) activities, are projected to drive the market further.
Breakup by Type:
- Hardware Solutions
- Software Solutions
- System Integration Services
- Consulting Services
- Support and Maintenance Services
- Training and Education Services
- Managed Services
Breakup by Deployment Type:
Breakup by Security Type:
- Unified Threat Management
- Network Security
- Identity Based Security
Breakup by Organization Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Breakup by Vertical:
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom
- Government and Public Utilities
- Energy and Utilities
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Barracuda Networks Inc., Check Point Software Technologies, Cisco Systems, Forcepoint LLC, Fortinet Inc., Gajshield Infotech Pvt Ltd., Hillstone Networks Co., Juniper Networks Inc., Palo Alto Networks Inc., Sonicwall Inc., Sophos Ltd., Zscaler Inc., etc.
Key questions answered in this report:
- How has the global next generation firewall market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the deployment type?
- What is the breakup of the market based on the security type?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global next generation firewall market and who are the key players?
- What is the degree of competition in the industry?