Market Trends of Enterprise Firewall Industry
This section covers the major market trends shaping the Enterprise Firewall Market according to our research experts:
Cloud Services to have High Growth Rate due to enhanced adoption of Industry 4.0
- Every day, the number of people using cloud computing grows. This is because cloud computing offers a flexible work environment, easy data sharing, and efficient data storage, which no other traditional computing or data storage system can match.
- Consequently, numerous companies are heading toward cloud computing, placing their data and communications in the cloud. One of the most significant factors slowing the growth of cloud computing is security concerns.
- The increasing demand for network security, especially in the manufacturing sector, is primarily due to the rapid adoption of Industry 4.0 policies. Also, IoT applications are expected to create a huge demand for enterprise firewall systems.
- With the rise of cloud technology, firewalls are now being put in place. These firewalls offer a bundled solution that makes sure a firewall is available on any device, handles any traffic load, and makes sure the same policies are followed across the organization.
- Furthermore, cloud computing is estimated to grow robustly during the forecast period. The increased adoption of cloud-based software has provided a number of benefits for companies from various industries, including the ability to use software from any device, either through a native app or a browser. The growth of cloud computing is directly driving the growth of the enterprise firewall market, as, without a security layer, the valuable data of organizations is at stake as data breaches are increasing.
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North America Occupies the Largest Market Share
- The North American region has the largest market share right now because businesses there care a lot about security and continue to use high-performing network security solutions.
- Cloud solutions are very important to the growth of enterprise firewalls in this region because they are cost-effective, automatically integrate, require little IT investment, and are easy to access.
- The latest technological breakthroughs have also assisted in the advancement of the enterprise firewall market. These advancements can make overall processes more efficient and significantly improve accuracy in numerous applications. There have been a series of new product launches, mergers, and acquisitions in the North American region to take advantage of this opportunity.
- Moreover, cyberattacks in the North American region, especially in the United States, are rising rapidly. They have reached an all-time high, primarily owing to the rapidly increasing number of mobile devices in the region. According to IBM, in the United States, the average cost of a data violation amounted to 9.44 million U.S. dollars in 2022, up from 9.05 million U.S. dollars in 2021.
- In November 2022, Microsoft Azure announced the launch of DDoS IP protection for SMBs. DDoS IP Protection for SMBs is designed to provide enterprise-grade DDoS (distributed denial of service) protection. The new product can help companies defend against L3/L4 DDoS attacks with always-on monitoring and adaptive tuning designed to ensure the application is always protected.
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