Network Security Firewall Global Market Report 2024

A network security firewall is a crucial device used by organizations to oversee and control incoming and outgoing network traffic in line with established security policies.

The primary categories of these firewalls encompass packet filtering, stateful packet inspection, next-generation firewalls, and unified threat management. Packet filtering involves the scrutiny of packets based on source/destination addresses, ports, or protocols for permitting or blocking data flow across the Internet. This system comprises solutions, services, and an SMS firewall supporting A2P and P2A messaging, deployable via various modes such as on-premises, cloud, or network function virtualization. Its applications span across sectors such as finance, healthcare, education, retail, manufacturing, IT, and energy, ensuring robust security measures for diverse industry needs.

The network security firewall market research report is one of a series of new reports from The Business Research Company that provides network security firewall market statistics, including network security firewall industry global market size, regional shares, competitors with a network security firewall market share, detailed network security firewall market segments, market trends and opportunities, and any further data you may need to thrive in the network security firewall industry. This network security firewall market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The network security firewall market size has grown exponentially in recent years. It will grow from $5.74 billion in 2023 to $6.89 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth observed in the historical period can be credited to several factors such as the proliferation of the internet, the implementation of stricter regulations, heightened connectivity, the transition towards cloud computing, and the substantial expansion of e-commerce.

The network security firewall market size is expected to see exponential growth in the next few years. It will grow to $14.67 billion in 2028 at a compound annual growth rate (CAGR) of 20.8%. The anticipated growth in the forecast period can be ascribed to various factors, notably the expansion of 5G networks, a rising trend of integrating AI technology, increased adoption of zero trust security models, the proliferation of IoT devices, and the scarcity of cybersecurity skills. Significant trends expected in this period encompass the emergence of cloud-native firewall solutions, the development of integrated security platforms, widespread adoption of behavioral analytics, the integration of DevSecOps practices, and the implementation of self-learning firewall algorithms.

The anticipated surge in demand for network security and privacy is poised to drive the expansion of the network security firewall market. Network security involves technologies aimed at safeguarding a company's infrastructure, preserving its functionality and integrity by thwarting various potential threats from infiltrating or propagating within the network. Such security measures significantly mitigate risks associated with data loss, theft, and malicious sabotage. As reported by ID Agent in October 2021, a notable uptick in cyberattacks occurred, surpassing the total recorded incidents in 2020 by 17%, registering 1,291 cyberattacks in 2021 compared to 1,108 breaches in 2020. Consequently, this escalating demand for network security and privacy is expected to be a primary driver in propelling the network security firewall market's growth trajectory.

The anticipated upsurge in cloud computing is set to propel the expansion of the network security firewall market. Cloud computing encompasses the delivery of diverse computing services, such as servers, storage, databases, networking, software, analytics, and intelligence, over the internet (cloud), offering adaptable resources and scalable solutions. Within cloud computing, the implementation of network firewall security plays a pivotal role in safeguarding the virtualized infrastructure and applications hosted in the cloud environment. This security measure regulates both incoming and outgoing network traffic, enforcing stringent security protocols to prevent unauthorized access, mitigate cyber threats, and ensure the confidentiality and integrity of data stored in the cloud. As indicated by a survey conducted by O'Reilly Media Inc. in December 2021, approximately 90% of organizations embraced cloud computing in 2021, up from 88% in the previous year. Among these, 67% adopted the public cloud, while others opted for the private cloud. Moreover, nearly 37% of respondents expressed their intentions to transition to a cloud-native approach within three or more years. Consequently, the surge in cloud computing stands as a significant driver behind the burgeoning growth of the network security firewall market.

The prevailing trend shaping the network security firewall market revolves around product innovations, where major industry players are directing their focus toward pioneering security and privacy protection solutions to ensure individuals' digital safety. A prime example occurred in January 2022 when Avast Software, a Czech-based company specializing in computer security software, machine learning, and artificial intelligence, introduced its New Firewall. This latest update, integrated into Avast's free antivirus software, is designed to grant users digital freedom, instill confidence, and enhance online safety. The enhanced firewall fortifies users against network assaults, underscoring Avast's dedication to delivering advanced and effective security and privacy products at no cost to a wide user base. Avast has also integrated sophisticated firewall features into Avast Premium Security, further augmenting protection against data leaks, spoofing attacks, and the scanning of malicious devices seeking open ports on users' personal computers. This commitment to innovation underscores Avast's commitment to providing robust security solutions to safeguard users' digital experiences.

Leading companies in the network security firewall market are actively developing innovative solutions, such as the cloud-native firewall service, to secure a competitive advantage in the industry. This cybersecurity solution is specifically tailored for cloud environments, delivering advanced network security and threat protection for data and applications hosted in the cloud. A notable instance occurred in November 2022, when Fortinet Inc., a US-based cybersecurity firm, introduced the FortiGate Cloud-Native Firewall (FortiGate CNF) on Amazon Web Services (AWS). This managed next-generation firewall service is specifically designed for AWS environments and incorporates FortiGuard artificial intelligence (AI)-powered Security Services, ensuring real-time threat detection and protection. The FortiGate CNF ensures a consistent network security experience across AWS and on-premises setups. The primary objectives of this cloud-native firewall service are to simplify network security operations through seamless cloud-native integrations, optimize costs by providing region-wide network protection, and enhance compliance by offering consistent enterprise-grade security across both on-premises and cloud deployments. Notably, it features an intuitive user interface, supports AWS Gateway Load Balancer, and seamlessly integrates with AWS Firewall Manager, streamlining security management and automation processes. This innovation underscores the commitment of companies such as Fortinet Inc. to deliver cutting-edge solutions that cater to evolving cybersecurity needs in cloud environments, providing robust protection and streamlined management capabilities.

In June 2021, Forcepoint, a prominent US-based company specializing in computer security software, data protection, cloud access security brokers, firewalls, and cross-domain solutions, completed the acquisition of Deep Secure for an undisclosed sum. This strategic acquisition aimed to integrate Deep Secure's Threat Removal Platform into Forcepoint's renowned Cross Domain Solutions portfolio, thereby enhancing its capabilities tailored for global government entities and critical infrastructure environments. Deep Secure, a UK-based company, is known for its suite of protective products designed to mitigate security threats effectively.

Major companies operating in the network security firewall market report are Cisco Systems Inc., SAP SE, Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Akamai Technologies Inc., Symantec Corporation, F5 Networks Inc., Check Point Solution Technologies Ltd., McAfee LLC, Zscaler Inc., Avast Software s.r.o, Proofpoint Inc., FireEye Inc., Kaspersky Lab S.R.O, AdaptiveMobile Security Ltd., Forcepoint LLC, Infoblox Inc., SonicWall Inc., Sophos Ltd., Trend Micro Inc., Bitdefender S.R.L, Barracuda Networks Inc., WatchGuard Technologies Inc., Webroot Inc., Cato Networks Ltd., ANAM Technologies Ltd., Symsoft AB, Cellusys Ltd., ESET spol . Sr.o, Imperva Inc., Radware Ltd., Netskope Inc., Cloudflare Inc.

North America was the largest region in the network security firewall market share in 2023. The regions covered in this network security firewall industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the network security firewall market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The network security firewall market consists of sales of SS7 firewalls, diameter firewalls, and other types. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Network Security Firewall Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on network security firewall market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for network security firewall ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The network security firewall market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Packet Filtering; State Full Packet Inspection; Next Generation Firewall; Unified Threat Management
• 2) By Component: Solutions; Services
• 3) By SMS Firewall: A2P; P2A Messaging
• 4) By Deployment Type: On-Premises; Cloud; Network Function Virtualization
• 5) By Applications: Financial Services; Medical Authorities; Education Authorities; Retail; Manufacturing; IT; Energy; Other Applications
• Companies Mentioned: Cisco Systems Inc.; SAP SE; Palo Alto Networks Inc.; Juniper Networks Inc.; Fortinet Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.