Network Security Firewall Market is valued approximately USD 3.09 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22.90% over the forecast period 2020-2027.
The network security firewall is a safety system that is created for the prevention of unauthorized access to non-public facts on a network. The firewall may be utilized as software program as well as hardware and may segregate a selected network and its records from an out of doors network to keep that precise network facts non-public. The There are a severe amount of benefits that incorporates the usage of a firewall in a network are, particularly the clean set up and the high pace. Enforcing a firewall for a network is also tons less expensive than to have to secure each computer individually.
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The global pandemic of COVID-19 is propelling the market growth over forecast years due to the growing initiatives of private and government organizations regarding working from home initiatives. To prevent spread of coronavirus many organizations initiated for work from home tactics which leads to the higher demand of network security firewalls to prevent organizational data from theft. Therefore, the growing concern for cyber security and data theft is driving the demand for market over the forecast years.
For instance: In 2019, as per World Economic Forum, cyber-attacks are considered as the top five risks to the global stability. Also, as per Identity theft resource centres, the number of data breach in 2018 was 1257 and increased to 1473 in 2019. Similarly, record exposed in 2017 was 198 million and increase to 471.2 million in 2018. Whereas, cybercrime compliant in 2018 was 351,937 and increased to 467,361 in 2019. In addition, increasing adoption of network function virtualization is the factor creating a lucrative opportunity to the market growth. However, lack of preventive firewall maintenance is hampering the growth of market over the forecast years.
The regional analysis of global Network Security Firewall Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing demand for network security and privacy.
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Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing concern for data theft and cyber security would create lucrative growth prospects for the Network Security Firewall Market across Asia-Pacific region.
Major market player included in this report are:
Dell technologies Inc.
Cisco Systems Inc.
Tata communications limited
AdaptiveMobile Security Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Deployment mode:
Consumer Goods and Retail
Healthcare and Life Sciences
By Organizational size:
Small and Mid-sized Businesses
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Network Security Firewall Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
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The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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This market report shows the projected market size for the Multi-Cloud Management Market at the end of the forecast period. The report also examines the historical and current market sizes.
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The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.
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