A recent report published by Infinium Global Research on network
security firewall market provides an in-depth analysis of segments and
sub-segments in the global as well as regional network security firewall market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional network security firewall market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecasts, and dollar values of the global network security firewall market. According
to the report, the global network security firewall market is projected to grow
at a CAGR of 20.2% over the forecast period of 2020-2026.
Firewalls are the first line of defense in
network security. They establish a barrier between secured and controlled
internal networks that can be trusted and untrusted outside networks, such as
the Internet. The coronavirus outbreak is currently making a big impact in
every vertical across the globe. During these times cybersecurity is of even
more importance, as the environment is just right for cybercriminals to strike.
The growth in an attack on corporate emails, with attackers posing as legitimate
agencies, or opening malicious email attachments, that eventually have a
positive impact on network firewalls and email security. A network security
firewall is a security system that analyzing income and outgoing network
traffic and permits or blocks data packets based on a set of security rules.
Further, The coronavirus pandemic forcing the government to impose a lockdown
to help curb the spread of the virus. Amidst the COVID-19 pandemic crisis,
companies are inclined towards various concepts such as bring your own device
(BYOD) and work from home (WFH) to adapt their work cultures, which will bring
positive prospects for the growth of the market.
The increasing importance of network security and privacy across
various organizations is one of the major factors that drives the growth of the
network security firewall market during the forecast period. Additionally, due
to the growth in cyber-attacks, organizations are making significant
investments in cybersecurity solutions. That, in, turn, is also augmenting the
market demand. Besides this, increasing fraudulent acts on enterprises, growing
importance for the identification of transfer of sensitive information, Advancement
of digital transformation are supporting factors boosting the network security
firewall market. On the other side, budgetary constraints are expected to have a negative impact on the growth of the market. The growth in investment to improve
the network security measures across the globe will create greater growth
opportunities for network security firewalls.
Among the geographies, the global network firewall market in North
America is anticipated to dominate the market, due to an increase in the importance
of network security coupled with a high adoption rate of network security
solutions. Additionally, the presence of top players in this region is another
major factor in gaining market revenue over the forecast period. The increasing
inclination towards developing the new cybersecurity culture in the European
region is expected to gain traction in the market. For instance, In March 2019,
a new EU “Cybersecurity Act” was approved by the European Parliament (MEPs).
This act boosting the cybersecurity of digital products and services in Europe. The Asia Pacific is accounted to be the fastest-growing region in the network
security firewall market in the forecast period due to the increasing internet
attacks and adoption of advanced technologies developing countries. Additionally,
According to the Global Cybersecurity Index (GCI) released by the International
Telecommunication Union (ITU), Singapore, and Malaysia are among the top five
countries globally which have shown a commitment to building cybersecurity
policies to the protection of cybercrimes.
The report on the global network security firewall market covers
segments such as component, deployment, end-user type, and vertical. On the
basis of component, the sub-markets include solution, and services. On the
basis of deployment, the sub-markets include on-premise, and cloud. On the
basis of end-user type, the sub-markets include small and medium enterprise,
and large enterprise. On the basis of vertical, the sub-markets include BFSI,
transportation and logistics, healthcare, education, telecommunication and IT,
government, and others.
The report provides profiles of the companies in the market such
as Juniper Networks, Inc., Fortinet, Mobileum Inc, Hewlett Packard Enterprise, AdaptiveMobile
Ltd, SAP SE, Cellusys, Anam Technologies, and Symsoft.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of network
security firewall market. Moreover, the study highlights current market trends
and provides forecast from 2020-2026. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.