What Has Been the Growth Trajectory for the Enterprise Firewall Market in Recent Years?
The enterprise firewall market has seen considerable growth due to a variety of factors.
•In recent years, the enterprise firewall market has seen significant expansion. Predicted to increase from $13.15 billion in 2024 to $14.41 billion by 2025, it will experience a compound annual growth rate (CAGR) of 9.6%.
The historical growth of this sector is mainly due to factors like escalating cyber threats, the surge in the usage of connected internet devices, a rise in e-commerce activities, expanding business networks, and the need to meet regulatory compliance requirements.
How Does the Forecast Look for the Enterprise Firewall Market?
The enterprise firewall market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the enterprise firewall is projected to experience rapid expansion in the upcoming years. The prediction suggests an increase to $23.6 billion by 2029, with a compound annual growth rate (CAGR) of 13.1%.
This surge over the projection period is due to factors such as the movement towards cloud-based systems, the growing requirement for remote work setups, the escalating utilization of Internet of Things (IoT) gadgets, strict data security regulations, and an increased focus on network security. Key trends for the forecast period encompass the utilization of artificial intelligence in cybersecurity measures, the integration of zero-trust security frameworks, a focus on user-centric security strategies, an enhanced concentration on sharing threat intelligence, and the progression of next-generation firewall solutions.
What Main Forces Are Fueling Expansion In The Enterprise Firewall Market?
The anticipated surge in cyberattacks is predicted to stimulate the expansion of the enterprise firewall market. A cyberattack refers to any effort to damage a computer, computing system, or network through unauthorized access. The deployment of enterprise firewalls across various businesses provides a sturdy protective shield that drastically diminishes the likelihood of cyber intrusions, protecting vital assets and confidential data, while ensuring nonstop business functions. For example, the Anti-Phishing Working Group, a US-based establishment, reported a total of 1,025,968 phishing onslaughts in the initial quarter of 2022, demonstrating a 15% growth from the 888,585 strikes in the final quarter of 2021. As such, the escalating wave of cyberattacks fuels the expansion of the enterprise firewall market.
What Are The Primary Segments In The Global Enterprise Firewall Market?
The enterprise firewall market covered in this report is segmented –
1) By Solution: Hardware, Software, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Small And Medium Organizations, Large Organizations
4) By End-User: Healthcare, Manufacturing, Government, Retail, Education, Financial Services, Media, Communications, Other End-User Industries
Subsegments:
1) By Hardware: Next-Generation Firewalls (NGFW), Unified Threat Management (UTM) Appliances, Network Firewalls, Virtual Firewalls
2) By Software: Firewall Software Solutions, Cloud-Based Firewall Software, Endpoint Firewall Software
3) By Services: Managed Firewall Services, Firewall Configuration and Maintenance, Consulting and Assessment Services, Incident Response Services
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Which Key Trends Are Driving Changes In The Enterprise Firewall Market?
The emergence of technological innovation is a critical trend gaining momentum in the enterprise firewall sector. High-profile enterprises in this market are launching cloud-based firewall solutions to maintain their industry dominance. For example, in February 2022, Juniper Networks Inc., an American networking products company, unveiled Juniper Secure Edge, a security solution delivered via the cloud. This innovative solution enables enterprises to safeguard their teams irrespective of their location by providing Firewall-as-a-Service (FWaaS) in a single-stack software architecture format. It facilitates unified policy control through a single user interface for all security scenarios, along with dynamic zero-trust segmentation, assurance of investment, and verified security efficiency.
Who Are the Key Players in the Enterprise Firewall Market?
Major companies operating in the enterprise firewall market include:
• Google LLC
• Dell Inc.
• Huawei Technologies Co. Ltd.
• Intel Corporation
• Cisco Systems Inc.
• Broadcom Inc.
• The Hewlett-Packard Co.
• Palo Alto Networks Inc.
• Juniper Networks Inc.
• Fortinet Inc.
• F5 Inc.
• Check Point Software Technologies Ltd.
• Trend Micro Inc.
• Extreme Networks Inc.
• Sangfor Technologies Inc.
• Forcepoint
• SonicWALL Inc.
• Hillstone Networks Co.
• Barracuda Networks Inc.
• Imperva Inc.
• Trustwave Holdings
• AhnLab Co. Ltd.
• WatchGuard Technologies Inc.
• Stormshield
• AlgoSec
What Is The Most Dominant Region In The Enterprise Firewall Market?
North America was the largest region in the enterprise firewall market in 2024. The regions covered in the enterprise firewall market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
