Network Security Firewalls

Network Security Firewalls

Global Network Security Firewalls Market to Reach US$29.4 Billion by 2030

The global market for Network Security Firewalls estimated at US$10.0 Billion in the year 2023, is expected to reach US$29.4 Billion by 2030, growing at a CAGR of 16.7% over the analysis period 2023-2030. Solutions Component, one of the segments analyzed in the report, is expected to record a 18.4% CAGR and reach US$20.0 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 13.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.6 Billion While China is Forecast to Grow at 22.1% CAGR

The Network Security Firewalls market in the U.S. is estimated at US$2.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.8 Billion by the year 2030 trailing a CAGR of 22.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.9% and 14.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.5% CAGR.

Global Network Security Firewalls Market - Key Trends and Drivers Summarized

How Are Network Security Firewalls Safeguarding Digital Infrastructures?

Network Security Firewalls have become a cornerstone of cybersecurity, protecting digital infrastructures from unauthorized access, cyberattacks, and data breaches. These firewalls act as barriers between internal networks and external threats, monitoring and controlling incoming and outgoing traffic based on predefined security rules. Firewalls are essential for preventing malware intrusions, ransomware attacks, and data exfiltration, making them crucial for businesses across various sectors, including banking, healthcare, government, and telecommunications. As the adoption of digital services grows, firewalls are playing an increasingly important role in securing network perimeters and ensuring safe data exchange.

What Are the Key Segments in the Network Security Firewalls Market?

Major types of firewalls include hardware-based, software-based, and cloud-based firewalls. Hardware-based firewalls offer robust protection and are often used in high-security environments, while software-based firewalls provide flexibility and easy deployment. Cloud-based firewalls, often referred to as Firewall-as-a-Service (FWaaS), are gaining rapid adoption due to their scalability and integration capabilities with cloud infrastructure. In terms of deployment, firewalls can be deployed on-premise or in the cloud, with cloud deployment becoming more prevalent. Key end-use industries include BFSI, healthcare, IT and telecommunications, government, and retail, all of which require stringent security measures to protect sensitive data and ensure regulatory compliance.

How Are Network Security Firewalls Being Adopted Across Sectors?

The BFSI sector remains one of the largest users of network security firewalls, driven by the need to protect financial transactions and comply with regulatory requirements like PCI DSS and GDPR. In the healthcare sector, firewalls safeguard electronic health records (EHRs) and ensure compliance with HIPAA regulations, protecting patient data from cyber threats. Government agencies utilize firewalls to secure sensitive information and ensure national security, while the telecommunications sector relies on them to protect networks from distributed denial-of-service (DDoS) attacks and other threats. With the rise of remote work, businesses across all industries are deploying firewalls to secure remote access points, virtual private networks (VPNs), and cloud environments, ensuring safe connectivity for employees.

What Factors Are Driving the Growth in the Network Security Firewalls Market?

The growth in the network security firewalls market is driven by several factors, including the rising incidence of cyberattacks and the need for comprehensive network protection. The rapid adoption of cloud computing and hybrid IT infrastructure has led to increased demand for cloud-based firewalls, which offer scalable and flexible security solutions. Regulatory compliance requirements in sectors like BFSI, healthcare, and government mandate the implementation of robust security measures, further boosting the adoption of firewalls. Additionally, advancements in firewall technologies, such as the integration of AI and machine learning for threat detection and prevention, have enhanced firewall effectiveness, driving market growth. The growing need to secure remote access, IoT devices, and 5G networks is also contributing to the expansion of the network security firewalls market.

Select Competitors (Total 36 Featured) -

• Adaptive Mobile security
• AMD Telecom S.A.
• ANAM Technologies
• BICS
• Cellusys
• Checkpoint Software
• Cisco Systems, Inc.
• Enghouse Network
• Fortinet
• Global Wavelet
• HPE
• Infobip
• Juniper Networks
• Mavenir
• Mobileum Inc.
• NetNumbe
• Nokia
• Omobio (Pvt) Ltd
• Openmind Networks
• Orange
• Palo Alto Networks
• PROTEI
• Route Mobile
• SAP SE
• Sinch
• Sonicwall
• Sophos
• Symsoft AB (Sinch)
• Tata Communication
• Telecom Italia Sparkle
• Twilio

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