The latest report by IMARC Group, titled “Next-Generation Firewall Market Report by Type (Solutions, Services), Deployment Type (Cloud-based, On-premises), Security Type (Firewall, Unified Threat Management, Network Security, Identity Based Security, and Others), Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), Vertical (Banking, Financial Services and Insurance (BFSI), IT and Telecom, Government and Public Utilities, Retail, Education, Healthcare, Energy and Utilities, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the next generation firewall market share.

What is the outlook for the next-generation firewall market?

The global next-generation firewall (NGFW) market size reached US$ 5.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.3 Billion by 2032, exhibiting a growth rate (CAGR) of 10.68% during 2024-2032.

Influential Factors Shaping the Next-Generation Firewall Industry's Growth:

• Increasing Cybersecurity Risks and Advanced Attacks:

The widespread adoption of digital technologies and the growing interconnectedness of devices and networks have led to a surge in sophisticated cyber threats. Traditional firewalls are no longer adequate to counter advanced threats such as zero-day attacks, ransomware, and advanced persistent threats (APTs). Next-generation firewalls (NGFWs) offer improved capabilities, including deep packet inspection, intrusion prevention systems (IPS), application awareness, and threat intelligence integration. These advanced features enable NGFWs to detect and mitigate complex threats more effectively, providing organizations with enhanced protection against cyber attacks.

• Compliance Rules and Privacy Issues:

Organizations are under pressure to fortify their cybersecurity defenses and embrace cutting-edge solutions, such as next-generation firewalls, in response to increasingly strict compliance requirements and regulatory oversight. This push for enhanced security measures is driven by various regulations, including GDPR, CCPA, HIPAA, and PCI DSS, which demand the implementation of robust safeguards to protect sensitive information and uphold data privacy and confidentiality. Next-generation firewalls play a vital role in helping organizations meet these regulatory obligations by offering features like data loss prevention, encryption, access control, and audit trails.

• Security Solutions in Demand: Tech Convergence Drivers Growth:

The dynamic nature of cybersecurity threats has prompted organizations to seek out holistic security solutions that safeguard their IT infrastructure on multiple fronts. Next-generation firewalls (NGFWs) are part of a larger trend towards integrated security platforms that combine various security features, such as intrusion detection and prevention, secure web gateways, endpoint security, and security orchestration and automation. NGFWs are evolving into unified threat management (UTM) platforms that integrate multiple security features into a single, comprehensive solution. This consolidation of security tools and functionalities simplifies security management, reduces complexity, and enhances operational efficiency. Organizations benefit from streamlined workflows, centralized policy management, and unified visibility into security events and incidents across the network.

For an in-depth analysis, you can request a sample copy of the report: https://www.imarcgroup.com/next-generation-firewall-market/requestsample

Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

• Barracuda Networks Inc.
• Check Point Software Technologies
• Cisco Systems
• Forcepoint LLC
• Fortinet Inc.
• Gajshield Infotech Pvt Ltd.
• Hillstone Networks Co.
• Juniper Networks Inc.
• Palo Alto Networks Inc.
• Sonicwall Inc.
• Sophos Ltd.
• Zscaler Inc.

Next-Generation Firewall Market Report Segmentation:

By Type:

• Solutions
  • Hardware Solutions
  • Software Solutions
• Services
  • System Integration Services
  • Consulting Services
  • Support and Maintenance Services
  • Training and Education Services
  • Managed Services

Solutions dominate the market due to its comprehensive offerings, encompassing a wide range of integrated security solutions tailored to address diverse cybersecurity needs effectively.

By Deployment Type:

• Cloud-based
• On-premises

Cloud-based deployment holds maximum number of shares due to its scalability, flexibility, and cost-efficiency, catering to the growing demand for agile and scalable security solutions in dynamic IT environments.

By Security Type:

• Firewall
• Unified Threat Management
• Network Security
• Identity Based Security
• Others

Firewall represents the largest segment due to its foundational role in network security, providing essential protection against unauthorized access and malicious threats.

By Organization Size:

• Small and Medium Enterprises (SMEs)
• Large Enterprises

Large enterprises dominate the market due to their expansive networks, complex IT infrastructures, and heightened security requirements, necessitating robust and scalable cybersecurity solutions such as next-generation firewalls.

By Vertical:

• Banking, Financial Services and Insurance (BFSI)
• IT and Telecom
• Government and Public Utilities
• Retail
• Education
• Healthcare
• Energy and Utilities
• Others

Banking, financial services and insurance (BFSI) sector represents the largest segment due to its high reliance on robust cybersecurity solutions to protect sensitive financial data and transactions from cyber threats.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America’s dominance in the next-generation firewall market is attributed to its robust technological infrastructure, high adoption of advanced cybersecurity solutions, and stringent regulatory environment driving demand for sophisticated security.

Global Next-Generation Firewall Market Trends:

The rise of cloud computing and hybrid IT architectures has significantly impacted how organizations manage their IT infrastructure. This shift has created new security challenges, as cloud-native applications, SaaS solutions, and IaaS platforms have expanded the traditional network perimeter. Next-generation firewalls (NGFWs) have become a vital component of cloud security strategies, offering advanced threat detection, application visibility, and access control for cloud workloads and data. By integrating with cloud orchestration platforms and APIs, NGFWs enable organizations to implement consistent security policies across hybrid environments, ensuring seamless protection for both on-premises and cloud-based assets. Additionally, the increasing adoption of Zero Trust security frameworks has transformed the approach to network security, emphasizing the principle of "never trust, always verify" and shifting the focus from perimeter-based security to identity-centric access controls. NGFWs play a crucial role in Zero Trust architectures by providing micro-segmentation, identity-based access control, and continuous monitoring capabilities. By authenticating and authorizing users, devices, and applications based on contextual factors such as user identity, device posture, and behavioral patterns, NGFWs help organizations enforce least privilege access and reduce the risk of lateral movement by malicious actors.

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=2139&flag=C

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163