Firewall as a Service (FWaaS) Market Analysis And Forecast To 2031: By Product (Firewalls, Firewall Management Software/ Tools), By Application (BFSI, Healthcare, Government, Retail, Education, Manufacturing), By Service Model (SaaS, IaaS, PaaS), By Deliv

Firewall as a Service (FWaaS) Market Analysis And Forecast To 2031: By Product (Firewalls, Firewall Management Software/ Tools), By Application (BFSI, Healthcare, Government, Retail, Education, Manufacturing), By Service Model (SaaS, IaaS, PaaS), By Delivery Model (Public, Private, Hybrid), And Region

The global Firewall as a Service (FWaaS) Market was valued at 1.2 billion in 2021 and it is anticipated to grow up to USD 13.9 billion by 2031, at a CAGR of 27.7% during the forecast period.

Firewall as a Service (FWaaS) is a type of security service that provides a firewall solution as a cloud-based offering. This service can be delivered in a number of ways, including as a software-as-a-service (SaaS) solution, a platform-as-a-service (PaaS) solution, or as an infrastructure-as-a-service (IaaS) solution.

Global Firewall as a Service (FWaaS) Market Scope and Report Structure

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Market Trends and Drivers

The high demand for Firewall as a Service (FWaaS) market can be attributed to initiatives by government and private organizations to protect their and customers critical information. For instance, the government of UK is going to invest more than USD 200 million in cybersecurity start-ups. This will help them in closely work with ISP to try to divert all the malware attacks and block the URLs. In Kenya, the government is ready to invest heavily in the security sector with more focus on welfare, mobilization, and modernization of security forces, offering an opportunity to the software market. Technological advancements, such as big data, IoT, and BYOD, are going to transform the Firewall as a Service market. For instance, the recent development of the BYOD has resulted in more crucial information that is being circulated in the network, giving an opportunity for hackers to gain access to huge volumes of information. This has resulted in offering tremendous opportunity for security providers to come up with customized solutions that will track malware and offer solutions to further prevent it. However, the lack of knowledge and reluctance among enterprises to use the cloud-based model poses as an entry barrier for companies.

Market Restraints and Challenges

One of the key restraints in the firewall as a service market is the lack of awareness among enterprises about the benefits of this service. Moreover, another challenge that restraining the growth of this market is the lack of skilled professionals who can manage and operate these services.

Global Firewall as a Service (FWaaS) Market Segmental Overview

The report analyses the global Firewall as a Service (FWaaS) Market based on Product, Application, Service Model, and Region.

Global Firewall as a Service (FWaaS) Market by Product

Based on the product, the Firewall as a Service (FWaaS) market industry is divided into Firewall, and Firewall Management Software/ Tools. Of these, the firewall segment registered significant revenue in 2021. firewall is estimated to register more than 19% CAGR in the FWaaS market over the forecast timeline due to an increase in the number of DDoS attacks and growing internet dependency. In addition, the advanced and automated threats, frauds, and regulatory compliances will foster demand over the forecast period. The use of internet for day-to-day life and increase in the penetration of internet with posting personal information require security firewalls. The stateful inspection helps in offering protection against exploits providing security architecture and possesses the ability to automatically patch the application for protection.

Global Firewall as a Service (FWaaS) Market by Delivery Model

By delivery model, the industry is bifurcated into public, private, and hybrid. In 2021, the hybrid segment dominant the Firewall as a Service (FWaaS) market in 2021. Additionally, the enormous growth in cloud-based applications, surge in data breaches on the public cloud environment, and ever-changing firewall protocols for business organizations are some of the major factors influencing growth for the firewall-as-a-service in the global market. However, complexity in integrating hosted firewalls with on-premise firewalls and inadequate IT infrastructures in underdeveloped nations are obstructing the market growth.

Global Firewall as a Service (FWaaS) Market by Service Model

Based on service model, the industry is categorized into SaaS, IaaS, and PaaS. Of these PaaS service mode segment in the Firewall as a Service market is projected to exhibit significant growth rate over the forecast timeline. It is a platform on which software can be developed and deployed. The providers take much work of the deals with servers and give users environment in which the OS and server hardware and software and network infrastructure are being taken care of. Here, users only need to focus on the core business and the application development of the product or service. As PaaS is built on virtualization technology, the market for firewall will grow as networking players are trying to offer the platform to pure firewall providers.

Global Firewall as a Service (FWaaS) Market by Application

Based on application, the Firewall as a Service (FWaaS) Market is divided into BFSI, Healthcare, Government, Retail, Education, Manufacturing, and Others. The healthcare segment held a substantial Firewall as a Service (FWaaS) market share in 2021 and is anticipated to maintain the industry revenue share over the forecast timeline due to a rapid surge in the number of data breaches in the sector. It has been observed that more than 130 million people have been compromised in 1,200 system breaches at organizations handling protected health information since 2009. Stringent government regulations related to user data protection in the healthcare sector is a prominent factor, propelling the demand for FWaaS. The firewall solution protects the network from blunt attacks and offers IT departments with insights of common types and options for protecting it where required.

Geographical Analysis of Global Firewall as a Service (FWaaS) Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific Firewall as a Service (FWaaS) market is projected to exhibit more than significant CAGR over the forecast timeline due to growing digitalization and rapid surge in the number of cyberattacks. The rising internet penetration coupled with the proliferation of computers and smart devices is supporting market growth. The number of attacks is increasing day-by-day, making firewall technology mandatory and secure with features such as application identification and control. The growing concerns of data breaches, use of internet, and cloud computing will help to stimulate the spending on the cloud firewall market. Stringent government regulations in the region related to user data protection are anticipated to increase the demand for the market.

Major Players in the Global Firewall as a Service (FWaaS) Market

The key players in the market Cisco Systems, Inc., Palo Alto Networks, Inc., Juniper Networks, Sophos, Ltd., Check Point Software Technologies , SonicWall, Barracuda Networks, WatchGuard Technologies, Zscaler, and Fortinet, Inc., among others.

COVID-19 Impact

The advent of the COVID-19 pandemic results in increased investment on advanced services and technology including cloud computing, the Internet of Things, artificial intelligence, and corporate flexibility. Furthermore, the growing number of people working from home in the face of worldwide shutdowns due to the COVID-19 pandemic is likely to fuel the need for cloud-based applications throughout the forecast timeframe.

Recent Developments

In August 2022, Palo Alto Networks launched a managed next-generation firewall service for AWS.

In March 2022, Palo Alto Networks recently announced that it has teamed up with Amazon Web Services (AWS) to unveil the new Palo Alto Networks Cloud NGFW for AWS.

In February 2022, Juniper Networks launched Secure Edge firewall as a service.



Frequently Asked Questions

Q1. How big is the Firewall as a Service (FWaaS) market?

Ans. The global Firewall as a Service (FWaaS) Market was valued at 1.2 billion in 2021 and it is anticipated to grow up to USD 13.9 billion by 2031, at a CAGR of 27.7% during the forecast period.

Q2. What is the Firewall as a Service (FWaaS) Market growth rate?

Ans. The growth rate of the Firewall as a Service (FWaaS) Market is 4. 27.7%

Q3. Which region holds a major market share for the market?

Ans. North America holds a major market share of the Firewall as a Service (FWaaS) Market in 2021.

Q4. Which segment accounted for the largest Firewall as a Service (FWaaS) Market share?

Ans. By industry, the pharmaceutical segment accounted for the largest Firewall as a Service (FWaaS) Market share.

Q5. Who are the key players in the Firewall as a Service (FWaaS) market?

Ans. The global Firewall as a Service (FWaaS) Market report includes players such Cisco Systems, Inc., Palo Alto Networks, Inc., Juniper Networks, Sophos, Ltd., Check Point Software Technologies , SonicWall, Barracuda Networks, WatchGuard Technologies, Zscaler, and Fortinet, Inc., among others.

Q6. What are the factors driving the Firewall as a Service (FWaaS) Market growth?

Ans. The major factors driving the growth of the market are the stringent government regulations related to user data protection in the healthcare sector is a prominent factor, propelling the demand for FWaaS.

Q7. What are the key growth strategies of Firewall as a Service (FWaaS) Market players?

Ans. The key growth strategies of Firewall as a Service (FWaaS) Market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Firewall as a Service (FWaaS) Market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Firewall as a Service (FWaaS) Market during the forecast period.