The growth of the global network security firewall market is driven by the rising number of cyberattacks and data breaches across the world. Cybercriminals are leveraging advanced techniques like phishing, malware attack, and ransomware to steal sensitive data from organizations which has increased the need for advanced network security solutions among businesses and government agencies. Additionally, the rapid migration to cloud-based applications and the adoption of work-from-home models due to the COVID-19 pandemic have expanded the attack surface for hackers, thereby fueling the demand for network firewalls that ensure multi-layered protection. Furthermore, growing investments by companies in IT security solutions to secure their network infrastructure and comply with data privacy regulations like GDPR is also propelling the network security firewall market forward during the forecast period.
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Drastic increase in cyber threats necessitating stronger security measures
With the increasing sophistication of cyber attacks and ever evolving threat landscape, the need for robust network security solutions has never been more important. Ransomwares, malware, phishing and other cyber threats have been on the rise targeting both individuals and organizations. The widespread shift to remote working during the pandemic also exposed many networks and endpoints. Network security firewalls provide critical first line of defense against such threats by monitoring and controlling incoming and outgoing network traffic based on predefined security rules. Their ability to detect anomalies in network behavior and block malicious activities in real-time is helping organizations secure their perimeters and internal resources.
Growing adoption of cloud, IoT and mobility further emphasized the need for enhanced network security controls
The rapid digital transformation and adoption of cloud, IoT and BYOD trends have vastly expanded the attack surface for organizations. As more devices and applications move beyond the traditional network perimeter, the need to protect these new endpoints and extend security policies consistently has become imperative. Network firewalls are being augmented with advanced capabilities like SD-WAN, unified threat management, virtual private networking and cloud security to enable comprehensive protection of hybrid networks spanning locations, users and devices. Their ability to segment networks, restrict access and enforce security policies cohesively across distributed environments is a big driver for their increasing deployment.
Key Company Profiles:
Key players operating in the network security firewall are Symsoft, Anam Technologies, Cellusys, SAP SE, Tata Communications Limited, Adaptive Mobile, AMD Telecom S.A., Evolved Intelligence, Hewlett Packard Enterprise, Mobileum, Omobio Pvt. Ltd., and Openmind Networks. With growing competition in the market, players are adopting mergers & acquisitions and partnership strategies, to gain competitive advantage in the market. For instance, in June 2016, Cellusys partnered with Sonus Networks, Inc., to provide mobile and fixed network operating solutions, which is a multi-layer signalling System 7 (SS7) security solution. Therefore, this strategy provides a network protection to subscribers from illegal tracking, call intercept, fraud and Denial of Service (DoS) attacks.
This Report lets you identify the opportunities in Network Security Firewall Market by means of a region:
⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)
Shift to as-a-service models lowering upfront costs and simplifying management
To address the budget challenges of customers and encourage greater security investments, vendors have increasingly adopted as-a-service delivery and pricing models for network security firewalls. These cloud-delivered and managed firewall services remove costly upfront hardware expenditures and ongoing maintenance/support costs typically associated with on-premise appliances. They offer a predictable operating expense with no large initial capital outlays and simpler subscription-based access to always-up-to-date solutions. This has made advanced network security more affordable and within budgetary reach of bandwidth-constrained small to mid-sized firms. The as-a-service model has also allowed vendors to offer robust multi-tenant management platforms with centralized visibility and control of distributed security policies.
Consolidation of next-generation firewalls integrating multiple security functions
Traditional network firewalls are evolving to become secure access service edge (SASE) platforms integrating critical network security functions beyond basic packet filtering. Next-generation firewalls are incorporating additional capabilities like sandboxing, SSL/TLS inspection, zero-trust network access, CASB, SWG and advanced threat protection to efficiently consolidate multiple point security products onto a single appliance or virtual solution. This integrated platform approach simplifies security operations, lowers total cost of ownership and provides better protection compared to standalone discrete technologies. As networks grow complex with sophisticated threats, there is a clear trend towards consolidated security platforms delivering comprehensive visibility and enforcement at scale through a unified management interface. Network security vendors are enhancing product integrations and bundling complimentary functions to embrace this convergence.
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Research Scope
Scope – Highlights, Trends, Insights. Attractiveness, Forecast
Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
Market Dynamics – Network Security Firewall Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
Competitive Landscape – Network Security Firewall Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
Key questions answered in the report include:
ᗒ How Network Security Firewall Market industry market will boom in 2024?
ᗒ which are prominent key players will be growing the market?
ᗒ Which enterprise size accounted for the largest data center colocation market share?
ᗒ What is the Compound Annual Growth Rate(CAGR) of the market during the forecast period (2024-2031)?
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