GLOBAL NEXT GENERATION FIREWALL MARKET FORECAST 2019-2027

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GLOBAL NEXT GENERATION FIREWALL MARKET FORECAST 2019-2027

The Global Next Generation Firewall (NGFWs) Market was valued at $XX million in 2018 & is expected to generate a revenue of $7441.82 million by 2027, with an anticipated CAGR of 12.18%. The base year considered for the market study is 2018 & the forecasted period is between 2019 and 2027. The global next generation firewall market has been primarily driven by the substantial increase in the threat of Distributed Denial of Service (DDoS) & ransomware attacks. For instance, attacks, such as Wannacry, have exploited multiple vulnerabilities infecting networks rapidly and halting the entire factory production lines, healthcare services, and commercial systems.

GLOBAL NEXT GENERATION FIREWALL MARKET FORECAST 2019-2027

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The Global Next Generation Firewall (NGFWs) Market was valued at $XX million in 2018 & is expected to generate a revenue of $7441.82 million by 2027, with an anticipated CAGR of 12.18%. The base year considered for the market study is 2018 & the forecasted period is between 2019 and 2027.

 The factors driving the global next generation firewall market are as follows:

  • The substantial rise in Network attacks
  • Regulations regarding data security to overcome the issue of data breaches
  • Growing adoption of cloud-based services
  • Changing business environments

The global next generation firewall market has been primarily driven by the substantial increase in the threat of Distributed Denial of Service (DDoS) & ransomware attacks. For instance, attacks, such as Wannacry, have exploited multiple vulnerabilities infecting networks rapidly and halting the entire factory production lines, healthcare services, and commercial systems. This alarming growth in the number of network attacks has been a major driver for the adoption of next-generation firewall security solutions.

Banking & Insurance industry is considered as the major end user of next-generation firewalls, as these institutions have deployed next-generation firewalls as one of the major components of their cybersecurity strategies. It accounted for around 20% of the revenue share in the year 2018. Different essential financial functions such as ATM operations, credit card transactions, money transfers, and others are performed in a secure, fast, and efficient manner with the help of next-generation firewalls. The BFSI sector is continuously striving to protect customer data and combat the rapid increase in the number of endpoints & mobile devices, along with the threats of brand-damaging data breaches. According to the World Payments Report, 2018, 482.6 billion non-cash transaction volumes were reported in 2016. Such a large number of transactions raise the need for advanced firewall capabilities among financial institutions, which is offered by next-generation firewalls, and thus acts as a major driver for the market growth.

Though the next generation firewall market has numerous growth drivers, market growth is curtailed by certain challenges. Lack of skilled cybersecurity personnel and issues related to interoperability & cloud protection are several factors that are delaying the market growth. The challenge comes while integrating these platforms properly with a next-generation firewall. For instance, if existing network infrastructure and NGFW doesn’t integrate, then to ensure the effective management of existing network security infrastructure, the company will have to either upgrade or replace its existing network infrastructure, which will add an unexpected cost on the company.

The report on the global next generation firewall includes segmentation on the basis of organization size, components, end user, & type.

Market by Components:

  • Solution
  • Service

Market by Organization Size:

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)

Market by Type:

  • Hardware
  • Virtual
  • Cloud

Market by End User:

  • Aerospace & Defense
  • BFSI
  • Public Sector
  • Retail
  • Healthcare
  • IT & Telecom
  • Energy & Utilities
  • Manufacturing
  • Other End User

Geographically, the global next generation firewall market has been segmented based on four major regions, which includes:

  • North America: the United States & Canada
  • Europe: United Kingdom, France, Germany, Spain, Russia, Italy, and Rest of Europe
  • Asia Pacific: China, Australia, India, Japan, South Korea, and Rest of Asia Pacific
  • Rest of World: Latin America, Middle East & Africa

Based on geography, North America leads the global next generation firewall market by capturing the largest market share in terms of revenue of around 38% in 2018. Cyberspace in the region is increasingly expanding owing to new & innovative development such as Big Data and Internet of Things. The region has major IT hubs and an increasing number of SMEs. The SMEs are largely adopting cloud solutions in order to increase their business efficiency. However, this is expected to add new security challenges with regard to network and system security. North America has been dominating the market due to an increase in cases of cyberattacks and high cyber spending. For instance, according to the White House Council of Economic Advisers, the United States economy loses approximately $57 billion to $109 billion per year to harmful cyber activity. Since 2010, various corporate investors have invested $1.37 billion in different cybersecurity companies across 140 deals.

On the flip side, Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of XX% during the forecast period. The development of the banking & finance industry and well-established telecommunication industry in the region has boosted the demand for next-generation firewalls to detect & block advanced threats. In addition, increasing sophistication & occurrence of cyber-attacks across the region is one of the major factors that is anticipated to drive the demand for various cybersecurity solutions such as next generation firewalls. For instance, India has experienced a 68% rise in cybercrime registration from 2010-2016. The country also ranks fifth in terms of the overall DNS hijacks. Apart from that, different regulatory guideline and new technology applications including Internet of Things calls for the adoption of an added level of network security.

The global NGFW market is segmented into type, organization size, end user, and components. The Type segment in the market is divided into virtual, hardware, and cloud. The organization size segment includes SMEs and large enterprises. By End-user, it is classified into healthcare, public sector, energy & utilities, BFSI, IT & telecom, aerospace & defense, manufacturing, retail, and others. Based on the component segment, the next-generation firewall market is sub-segmented into solution & service.

The major companies in the global next generation firewall market are:

  • Barracuda Networks Inc.
  • Cisco Systems, Inc.
  • Fortinet, Inc.
  • Juniper Networks, Inc
  • Palo Alto Networks, Inc.
  • Other Companies

Company profiles of the eminent market players are discussed in detail in the report. Most of the companies are following strategies such as contracts, partnership, product launch, agreements, and merger & acquisition to gain a competitive edge over other companies. For instance, in August, 2019, FortiGate 2200E, FortiGate 3300E, and FortiGate 1100E, which are three new high-performance FortiGate Next-Generation Firewalls were introduced by Fortinet®. In July, 2019, Twistlock, the leader in container security, was acquired by Palo Alto Networks to outspread its Prisma™ cloud security strategy. In June, 2019, an advanced security analytics platform, “Barracuda Firewall Insights” was introduced by Barracuda. In June, 2019, Egypt’s first integrated telecom operator “Telecom Egypt” signed a Memorandum of Understanding (MoU) with Juniper Networks in Cairo.

Key findings of the global next generation firewall market are:

  • North America holds the largest share of the global next generation firewall market.
  • With the growing IoT market, organizations are now moving toward adoption of advanced security solutions such as next-generation firewalls for their business protection, thus driving the market.
  • Large enterprises dominate the organization size segment of the global next generation firewall market by capturing largest market share of over XX% in 2018.
  • Various industry experts have suggested Firewall as a Service (FWaaS) as one of the emerging infrastructure protection technologies with a high impact benefit rating, which is expected to provide an opportunistic for NGFW market.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • CHANGING BUSINESS ENVIRONMENTS
      • EMERGENCE OF FIREWALL AS A SERVICE
      • GROWING ADOPTION OF CLOUD BASED SERVICES
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • SUBSTANTIAL RISE IN NETWORK ATTACKS
      • REGULATIONS REGARDING DATA SECURITY TO OVERCOME ISSUE OF DATA BREACHES
    • MARKET RESTRAINTS
      • ISSUES RELATED TO INTEROPERABILITY & CLOUD PROTECTION
    • MARKET OPPORTUNITIES
      • GROWING MACHINE-TO-MACHINE/IOT CONNECTIONS
      • INCREASE IN CYBERSECURITY BUDGETS ACROSS THE WORLD
    • MARKET CHALLENGES
      • LACK OF SKILLED CYBERSECURITY PERSONNEL
  1. MARKET BY COMPONENTS
    • SOLUTION
    • SERVICE
  2. MARKET BY ORGANIZATION SIZE
    • LARGE ENTERPRISES
    • SMALL & MEDIUM ENTERPRISES (SMEs)
  3. MARKET BY TYPE
    • HARDWARE
    • VIRTUAL
    • CLOUD
  4. MARKET BY END USER
    • AEROSPACE & DEFENSE
    • BANKING, FINANCIAL SERVICES & INSURANCE (BFSI)
    • PUBLIC SECTOR
    • RETAIL
    • HEALTHCARE
    • IT & TELECOM
    • ENERGY & UTILITIES
    • MANUFACTURING
    • OTHER END USERS
  5. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF BUYERS
      • BARGAINING POWER OF SUPPLIERS
      • THREAT OF COMPETITIVE RIVALRY
    • KEY BUYING CRITERIA
      • COST
      • THIRD PARTY REVIEWS & CERTIFICATIONS
      • PERFORMANCE, AVAILABILITY & SCALABILITY.
      • COMPANY REPUTATION & SUPPORT
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  6. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • BARRACUDA NETWORKS INC.
    • CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    • CISCO SYSTEMS, INC.
    • DELL TECHNOLOGIES
    • FORCEPOINT LLC
    • FORTINET, INC.
    • GAJSHIELD INFOTECH (I) PVT. LTD.
    • HILLSTONE NETWORKS
    • HUAWEI TECHNOLOGIES CO. LTD.
    • JUNIPER NETWORKS, INC.
    • PALO ALTO NETWORKS, INC.
    • SONICWALL INC.
    • SOPHOS TECHNOLOGIES PVT. LTD. (CYBEROAM)
    • UNTANGLE INC.
    • WATCHGUARD TECHNOLOGIES INC.
    • ZSCALER, INC.

TABLE LIST 

TABLE 1: GLOBAL NEXT GENERATION FIREWALL MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: WORLDWIDE CYBER SECURITY EXPERTS, 2017

TABLE 3: GLOBAL NEXT GENERATION FIREWALL MARKET, BY COMPONENTS, 2019-2027 (IN $ MILLION)

TABLE 4: GLOBAL SOLUTION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL SERVICE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL NEXT GENERATION FIREWALL MARKET, BY ORGANIZATION SIZE, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL LARGE ENTERPRISES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL SMALL & MEDIUM ENTERPRISES (SMEs) MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL NEXT GENERATION FIREWALL MARKET, BY TYPE, 2019-2027 (IN $ MILLION)

TABLE 10: GLOBAL HARDWARE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11: GLOBAL VIRTUAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL CLOUD MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL NEXT GENERATION FIREWALL MARKET, BY END USER, 2019-2027 (IN $ MILLION)

TABLE 14: GLOBAL AEROSPACE & DEFENSE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 15: GLOBAL BANKING, FINANCIAL SERVICES & INSURANCE (BFSI) MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16: GLOBAL PUBLIC SECTOR MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17: GLOBAL RETAIL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 18: GLOBAL HEALTHCARE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 19: GLOBAL IT & TELECOM MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20: GLOBAL ENERGY & UTILITIES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 21: GLOBAL MANUFACTURING MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 22: GLOBAL OTHER END USERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 23: OPPORTUNITY MATRIX

TABLE 24: VENDOR LANDSCAPE

TABLE 25: GLOBAL NEXT GENERATION FIREWALL MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 26: NORTH AMERICA NEXT GENERATION FIREWALL MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 27: EUROPE NEXT GENERATION FIREWALL MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 28: ASIA PACIFIC NEXT GENERATION FIREWALL MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 29: REST OF WORLD NEXT GENERATION FIREWALL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

FIGURES LIST        

FIGURE 1: GLOBAL NEXT GENERATION FIREWALL MARKET, BY END USER, 2018 & 2027 (IN %)

FIGURE 2: DISTRIBUTED DENIAL OF SERVICE (DDOS) ATTACKS IN KEY GEOGRAPHIES IN Q4 2016

FIGURE 3: GLOBAL NEXT GENERATION FIREWALL MARKET, BY SOLUTION, 2019-2027 (IN $ MILLION)

FIGURE 4: GLOBAL NEXT GENERATION FIREWALL MARKET, BY SERVICE, 2019-2027 (IN $ MILLION)

FIGURE 5: GLOBAL NEXT GENERATION FIREWALL MARKET, BY LARGE ENTERPRISES, 2019-2027 (IN $ MILLION)

FIGURE 6: GLOBAL NEXT GENERATION FIREWALL MARKET, BY SMALL & MEDIUM ENTERPRISES (SMEs), 2019-2027 (IN $ MILLION)

FIGURE 7: GLOBAL NEXT GENERATION FIREWALL MARKET, BY HARDWARE, 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL NEXT GENERATION FIREWALL MARKET, BY VIRTUAL, 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL NEXT GENERATION FIREWALL MARKET, BY CLOUD, 2019-2027 (IN $ MILLION)

FIGURE 10: GLOBAL NEXT GENERATION FIREWALL MARKET, BY AEROSPACE & DEFENSE, 2019-2027 (IN $ MILLION)

FIGURE 11: GLOBAL NEXT GENERATION FIREWALL MARKET, BY BANKING, FINANCIAL SERVICES & INSURANCE (BFSI), 2019-2027 (IN $ MILLION)

FIGURE 12: GLOBAL NEXT GENERATION FIREWALL MARKET, BY PUBLIC SECTOR, 2019-2027 (IN $ MILLION)

FIGURE 13: GLOBAL NEXT GENERATION FIREWALL MARKET, BY RETAIL, 2019-2027 (IN $ MILLION)

FIGURE 14: GLOBAL NEXT GENERATION FIREWALL MARKET, BY HEALTHCARE, 2019-2027 (IN $ MILLION)

FIGURE 15: GLOBAL NEXT GENERATION FIREWALL MARKET, BY IT & TELECOM, 2019-2027 (IN $ MILLION)

FIGURE 16: GLOBAL NEXT GENERATION FIREWALL MARKET, BY ENERGY & UTILITIES, 2019-2027 (IN $ MILLION)

FIGURE 17: GLOBAL NEXT GENERATION FIREWALL MARKET, BY MANUFACTURING, 2019-2027 (IN $ MILLION)

FIGURE 18: GLOBAL NEXT GENERATION FIREWALL MARKET, BY OTHER END USERS, 2019-2027 (IN $ MILLION)

FIGURE 19: PORTER’S FIVE FORCE ANALYSIS

FIGURE 20: KEY BUYING IMPACT ANALYSIS

FIGURE 21: GLOBAL NEXT GENERATION FIREWALL MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 22: UNITED STATES NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23: CANADA NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24: UNITED KINGDOM NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25: GERMANY NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26: FRANCE NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27: SPAIN NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: ITALY NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29: RUSSIA NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30: REST OF EUROPE NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31: CHINA NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32: JAPAN NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33: INDIA NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34: SOUTH KOREA NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35: AUSTRALIA NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36: REST OF ASIA PACIFIC NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37: LATIN AMERICA NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38: MIDDLE EAST & AFRICA NEXT GENERATION FIREWALL MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY COMPONENTS
    • SOLUTION
    • SERVICE
  2. MARKET BY ORGANIZATION SIZE
    • LARGE ENTERPRISES
    • SMALL & MEDIUM ENTERPRISES (SMEs)
  3. MARKET BY TYPE
    • HARDWARE
    • VIRTUAL
    • CLOUD
  4. MARKET BY END USER
    • AEROSPACE & DEFENSE
    • BANKING, FINANCIAL SERVICES & INSURANCE (BFSI)
    • PUBLIC SECTOR
    • RETAIL
    • HEALTHCARE
    • IT & TELECOM
    • ENERGY & UTILITIES
    • MANUFACTURING
    • OTHER END USERS
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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