The global next-generation firewall (NGFW) market to reach US$ 9.6 Billion by 2027, exhibiting a CAGR of 13.83% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, July 29, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Next-Generation Firewall Market: Global Industry Trends, Size, Share Growth, Opportunity and Forecast 2022-2027,” the global next-generation firewall (NGFW) market reached a value of US$ 4.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.6 Billion by 2027, exhibiting a CAGR of 13.83% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
A network security tool known as a next-generation firewall (NGFW) controls and protects data sent by servers, routers, and switches. It typically works in conjunction with intrusion prevention and cloud-delivered threat intelligence, and it makes use of whitelists or signature-based intrusion detection systems (IDS) to differentiate between dangerous and secure applications. Additionally, to guarantee that all connections between the network, internet, and firewall are secure and legitimate, the next-generation firewall supports both dynamic and static virtual private networks (VPNs) and employs packet filtering. As a result, it has many applications across a wide range of industries, such as the public and government sectors, banking, financial services, and insurance (BFSI), retail, healthcare, and education, as well as the information technology (IT), energy, and industrial sectors.
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The increasing prevalence of cyber-attacks and the growing utilization of the Internet of Things (IoT) technology are primarily driving the next-generation firewall market. Moreover, the widespread adoption of NGFW for data protection, on account of the inflating popularity of bring your own device (BYOD), smartphones, social media, and cloud services, is further catalyzing the market growth. Besides this, the rising investments by government bodies across the countries to improve cybersecurity systems and the escalating demand for NGFW among several banking institutions to secure payment gateways and transaction portals are positively influencing the global market. Additionally, numerous technological advancements, including the introduction of highly configurable and scalable security measures, are anticipated to fuel the next-generation firewall market over the forecasted period.
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List of Key Companies Covered in this Market Report:
Barracuda Networks Inc.
Check Point Software Technologies
Gajshield Infotech Pvt Ltd.
Hillstone Networks Co.
Juniper Networks Inc.
Palo Alto Networks Inc.
The report has segmented the market on the basis of type, deployment type, security type, organization size end-user and geography.
Breakup by Type:
System Integration Services
Support and Maintenance Services
Training and Education Services
Breakup by Deployment Type:
Breakup by Security Type:
Unified Threat Management
Identity Based Security
Breakup by Organization Size:
Small and Medium Enterprises (SMEs)
Breakup by Vertical:
Banking, Financial Services, and Insurance (BFSI)
IT and Telecom
Government and Public Utilities
Energy and Utilities
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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