(FWaaS) Firewall as a Service Market size is set to exceed USD 2.5 billion by 2024; according to a new research report by Global Market Insights Inc.


Rising initiatives by regulatory authorities to improve the security of the customer information and increase in cyber-attacks is a major factor driving the firewall as a service market growth. Firewalls help organizations in protecting end-to-end web application and database to protect their customer information and their business. The development of Next-Generation Firewall has entirely changed the landscape with features such as DPI, API, SSL inspection, filtering, and IPS, improving the cloud firewall market opportunity for these solutions.


Rapid digitization, primarily in countries such as India and China, has led to an increase in the IT sector, leading to a new market for cyber criminals. Various organizations are working with government agencies to provide customized suites and packages to enterprises, especially SMEs, as they are very reluctant to use software and more prone to attackers.


Adoption of BYOD, digital banking, and connected devices is changing the firewall as a service market. The penetration of phones and the connectivity across the world has led to the rise in the hacking of the device and collect the financial information. NGFW is attracting lot of companies with their public deployment model as majority of the players offer the product in the competitive FWaaS market. Organizations such as Tufin, Skybox Security and Firemon are offering management software tools required by any user to track and monitor the attacks and update the regulatory norms whenever required.


The firewall appliances market holds majority of the FWaaS market share with approximately 22% CAGR estimation from 2017 to 2024. Traditionally, proxy servers and stateful inspection firewalls were used to protect the servers and network. However, with the change in the attacks and spreading its reach, internal networks require more protection than traditional ways. The UTM and NGFW were used to protect enterprises from internal and external network attacks.


The government agencies and financial institutions are most targeted due to the huge transactions and classified information. Thus, government and private organizations are collaborating and customizing compliances regulations best suited for the industry. BFSI applications account for majority of the revenue and are expected to maintain their position in the coming years.


The rising number of attacks and need for security measures are fostering the growth of the Asia Pacific FWaaS market. Additionally, number of organizations are understanding the benefits of offering cloud deployment to their customers to get cost-benefits. Moreover, government initiatives to improve the security and introduce norms is creating growth opportunities for the security providers.


The players operating in the firewall as a service equipment space include Checkpoint, Palo Alto Networks, Fortinet, Cisco, IBM, Symantec, McAfee, and Sophos. Additionally, some of the pure management software providers holding strong place in the FWaaS market are Tufin, Firemon, Algosec, Skybox Security FireEye, and Watchguard.The industry is seeing a number of M&A in the past five years; for instance, the acquisition of Niara by HPE to expand their product offerings and brand value.


Firewall as a service market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:


Firewall as a Service Market, By Product


Firewall


Proxy Server

Stateful Inspection Firewall

Unified Threat Management (UTM)

Next-generation Firewall (NGFW)


Firewall Management Software/ Tools


Auditing and Compliance

Cloud Security

Connectivity Management

Automation

Backup and Recovery

Others


Firewall as a Service Market, By Delivery Model


Public

Private

Hybrid

Firewall as a Service Market, By Service Model

SaaS

IaaS

PaaS


Firewall as a Service Market, By Application

BFSI

Healthcare

Government

Retail

Education

Manufacturing

Others


The above information has been provided on a regional basis for the following:


North America


U.S

Canada


Europe


UK

Germany

France

Italy



Asia Pacific


China

India

Japan

South Korea

Australia


Latin America

Brazil

Mexico


Middle East and Africa


GCC

South Africa