What is the Historic and Current Scenario of the Next-Generation Firewall Market?
The next-generation firewall market has seen considerable growth due to a variety of factors.
• The market size for next-generation firewalls has seen substantial growth in the previous years. It is projected to rise from $5 billion in 2024 to $5.48 billion in 2025, marking a compound annual growth rate (CAGR) of 9.5%. The growth experienced in the past years can be credited to a shift from traditional firewalls, the emergence of advanced threats, more focus on application security, the need for mobile and remote access security, and a more complex network infrastructure.
What Can Be Expected from the Next-Generation Firewall Market Size?
The Next-Generation Firewall market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations suggest that the market for next-generation firewalls is set to rapidly expand in the coming years. Forecasts predict growth to reach $9.23 billion by 2029, with an annual growth rate of 13.9%.
The anticipated growth during this period is largely credited to the escalating intricacies of cyber threats, cybersecurity demands of remote workers, the switch to cloud and hybrid environments, implementation of zero-trust architecture, and IoT device security. Emerging trends for this time frame encompass a focus on IoT security, machine learning and AI incorporation, SSL/TLS inspection capabilities, improved user identity management, embracing zero trust architecture, and the use of security solutions based in the cloud.
What Are the Critical Driver Fuelling The Next Generation Firewall Market's Growth?
The escalating need for cutting-edge cybersecurity measures is predicted to stimulate expansion in the next-generation firewall industry. Cybersecurity initiatives encompass the application of various technologies, policies and protections to ward off cyberattacks on systems, networks, software, devices and information. A next-generation firewall is a component of the third wave of firewall innovations which is utilized to counter complex security threats on the application tier. For instance, as reported in the ASD Cyber Threat Report of November 2023 by the Australian Signals Directorate, a federal agency in Australia, during the fiscal year of 2022-23, ReportCyber registered about 94,000 cybercrime complaints, marking a 23% surge from the preceding fiscal year. The fiscal impact of cybercrime on businesses amplified by 14%, with small-scale businesses losing an average of $46,000, mid-scale businesses around $97,200, and large-scale businesses approximately $71,600. Hence, the surge in need for top-tier cybersecurity measures is maneuvering the growth trajectory of the next-generation firewall sector.
How Is The Next Generation Firewall Market segmented?
The next-generation firewall market covered in this report is segmented –
1) By Component: Solution, Services
2) By Type: Hardware, Virtual, Cloud-Based
3) By Enterprise Size: Large Size Enterprises, Small And Medium Sized Enterprises (SMEs)
4) By Industry Vertical: BFSI, Retail, IT And Telecommunication, Healthcare, Energy And Utilities, Manufacturing, Government, Other Industry Verticals
Subsegment: Professional Service, Managed Service, Support And Maintenance, Training And Education, Consulting Service, System Integration, Other Services
Subsegments:
1) By Solution: Hardware Appliances, Software-Based Firewalls, Cloud-Based Firewalls, Integrated Security Solutions
2) By Services: Consulting Services, Installation And Integration Services, Managed Security Services, Support And Maintenance Services
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What New Trends Are Influencing The Next Generation Firewall Market?
Key players in the next-generation firewall market are centering their efforts on developing Machine-learning (ML) powered next-generation firewalls to augment threat recognition, boost network security, and automate responses to potentially destructive cyber threats. This ML-driven next-generation firewall comprises of superior firewall that embeds machine-learning technologies to heighten its capacity to recognize and counteract cyber threats. The novelty of these firewalls is the PAN-OS 11.0 Nova, which is specifically devised to efficaciously counteract extremely elusive cyber threats. For example, in November 2022, Palo Alto Networks, Inc., an American corporation, unveiled the PA-5400 and PA-400 Series ML-Operated NGFWs. The PA-5400 Series is custom-built for high-performance settings, offering models providing up to 61.5 Gbps of threat prevention throughput.The PA-400 Series has been designed keeping smaller businesses and multi-location enterprises in mind, with user-friendly deployment choices and a silent, fanless design. Both series employ innovative machine learning methodologies for active threat detection and sport the Single Pass Parallel Processing (SP3) architecture for reliable performance.
Who Are the Key Players In The Next Generation Firewall Market?
Major companies operating in the next-generation firewall market include:
• Cisco Systems Inc.
• Barracuda Networks Inc.
• Check Point Solution Technologies Ltd.
• Juniper Networks Inc.
• Huawei Technologies Co. Ltd.
• Palo Alto Networks Inc.
• Forcepoint LLC
• WatchGuard Technologies Inc.
• SonicWall Inc.
• Hillstone Networks Co
• Sangfor Technologies
• Fortinet Inc.
• Sophos Technologies Pvt. Ltd.
• Untangle Inc.
• GajShield Infotech Pvt. Ltd.
• SEQRITE
• Stormshield SAS
• AhnLab Inc.
• Comodo Group Inc.
• Netgate Inc.
• OPNsense
• pfSense
• Smoothwall Ltd.
What Is The Most Dominant Region In The Next Generation Firewall Market?
North America was the largest region in the next-generation firewall market in 2024. Asia-Pacific is expected to be the fastest-growing region in the next-generation firewall market report during the forecast period. The regions covered in the next-generation firewall market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
