Global Next Generation Firewall Market is Growing at a Growth Rate of 12.18% Throughout the Forecast Period

According to a new market research report published by Inkwood Research, the Global Market for (NGFW) Next Generation Firewall is projected to contribute revenue around $7441.82 million by 2027, with a CAGR of 12.18% during the forecast period./vc_message]

“According to a new market research report published by Inkwood Research, the Global Market for (NGFW) Next Generation Firewall is projected to contribute revenue around $7441.82 million by 2027, with a CAGR of 12.18% during the forecast period.

“Browse 29 market Data Tables and 38 Figures spread over 100 Pages, along with an in-depth TOC on Global Next-Generation Firewall Market Forecast 2019-2027.”

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The next-generation firewall is a third-generation network technology with additional integrated capabilities, such as application-level traffic inspection, intrusion prevention (IPS) and in-line deep packet inspection (DPI). These firewalls provide distinctive attributes, such as active directory integration support, SSH & SSL inspection and malware filtering based on reputation, and are implemented in multiple models, such as hardware and software.

Evolving Business Ecosystem is Driving the Global Next-Generation Firewall Market

The advancement in the business environments is attributable to the rapid adoption of the BYOD model across various end-use verticals, which is also one of the prime factors boosting the growth of the next-generation firewall market at an exponential rate in the coming years. The model provides individual or customers quick access to business information on public domains or private devices. However, this increases the organization’s concern over security in terms of unauthorized access to confidential business data. Therefore, efficient multilayered cybersecurity systems are the need for the day that will only allow access to required corporate information, thus, minimizing risk and maintaining compliance.

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The Global Next-Generation Firewall Component Market was Led by Solution Segment

The next-generation firewall component market by solutions include hardware and software firewall solutions. The hardware appliances are designed to provide cryptographic functions and protection against advanced cyberattacks. While the software solutions are used to protect and safeguard data with other programs in the system. A surge in need for continuous monitoring and management of information security risks is expected to provide lucrative opportunities for the expansion of the solution segment. The growing requirement for vulnerability assessment and to ensure compliance with the leading defense, federal and industry security standards is encouraging the organizations to integrate next-generation firewall solutions.

The Asia Pacific to Contribute the Largest Share in the Global Next-Generation Firewall Market

The Asia Pacific region is projected to witness significant development in the forecasting years, owing to the rising smart city projects, increase in IoT landscape and growing investment in cybersecurity in the emerging economies, such as India, China, Japan, and South Korea. Moreover, rising awareness of cybersecurity within SMEs is expected to propel the demand for security solutions. Also, a surge in the government initiatives regarding an increase in data security and privacy in the region is fueling the market growth over the forecasting period.

Top companies operating in the global next-generation firewall market are Cisco Systems, Inc., Juniper Networks, Inc., Barracuda Networks Inc., Palo Alto Networks, Inc., Fortinet, Inc., and other companies. Although the market poses high barriers to entry for new players, several new entrants have been able to gain traction in the market. The market is characterized by growing levels of product penetration, moderate/high product differentiation and high levels of competition.

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