Network Security Firewall Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 13.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Network Security Firewall Market Analysis
The network security firewall market is expected to grow at a CAGR of 13% during the forecast period 2022 - 2027. The growth of the network security firewall market is driven by several factors, such as increased demand for network security & privacy, advancement of digital transformation in the telecommunication industry, real-time streaming analysis, and administrative regulations encouraging demand for network security firewalls
- Owing to the numerous advantages of a firewall in a network, especially the easy installation and the high speed are fuelling the market growth. Additionally, implementing a firewall for a network is also much less costly than having to secure each computer individually. However, the lack of preventive firewall maintenance infrastructure and poor hardware and system compatibility are a few major factors hindering the market growth.
- The increasing need to secure communication paths from unlawful access and information misuse and maintain network safety between the external and internal networks to safeguard the company from fraud and data violations is helping the market expand and grow.
- The rapid use of web applications, rapid adoption of cloud technologies, and the increasing demand for security services to mitigate the risk of cyberattacks are also driving the growth of the network security firewall market. To protect the data & information from security breaches and cyber-attacks, the implementation of network security firewalls is growing across various end-use enterprises. Consequently, driving the growth of the overall network security firewalls market.
- Due to the coronavirus (Covid-19) pandemic, on one side, there is shutting down major parts of the global economy. On the other side, there are those with nefarious ends who are trying to take advantage of chaos and uncertainty and are evolving scams and phishing techniques which is a big threat to everyone globally.
- Google recently reported that in just one week, from 6 to 13 April, it saw more than 18 million daily malware and phishing emails related to Covid-19 scams, and that's in addition to the 240 million daily spam messages it saw related to coronavirus. Due to the rise in such activities network security firewall market is likely to grow as the firewall is a critical security component for connections that are always on, and organizations need network firewalls to protect network infrastructure.
Network Security Firewall Market Trends
This section covers the major market trends shaping the Network Security Firewall Market according to our research experts:
Solution Segment is Expected to Witness Significant Growth
- The solution segment claimed the majority of share in the global network security firewall market owing to the continuous development in security protocols of telecom service providers to detect and protect against SS7 vulnerabilities, such as fraud, user location tracking, and denial of service (DoS).
- In September 2022, Netskope launched enhancements to the cloud firewall solution. The company states that the firewall-as-a-service (FWaaS) component of its converged SASE platform is designed to help customers simplify operations, prevent threats, and provide consistent firewall coverage worldwide anywhere their users are located.
- The solutions segment is also expected to witness the fastest CAGR over the forecast period owing to telecom organizations' growing adoption of SMS firewall solutions. SMS firewall solutions are used in network security firewall applications to detect malware over the operator's network.
- The growing number of diameter attacks in the telecom industry also supports the deployment of firewall solutions, thus, contributing to the growth of the network security firewall solutions market.
North America to Account for Largest Market Share
- North America accounted for the largest share of the network security firewall market and is expected to maintain its dominance throughout the forecast period as the region is home to several leading network security providers.
- North America is also anticipated to capture the largest share of the network security firewalls market in terms of revenue over the coming years, owing to rapid advancements in mobile security technologies in this region. The large share of this region is mainly attributed to its considerable investments in data security due to the significant rise in cyber-attacks.
- Over the past few years, many cyberattacks have targeted organizations in the North American region. This has led to a greater awareness of firewall solutions and their adoption among major companies across different regional sectors, thus contributing to market growth.
- The region is active in state-sponsored and individual cyberattacks and ransomware attacks. For instance, according to the CISA (Cybersecurity and Infrastructure Security Agency) and the Federal Bureau of Investigation (FBI) US, Russia conducted cyberattacks against commercial satellite communications networks in late February 2022 to disrupt Ukrainian command and control during the Russian invasion, with spillover effects in other European countries.
- According to evolving intelligence, the Russian government is considering alternatives for prospective cyberattacks. Recent Russian state-sponsored cyber operations have included distributed denial-of-service (DDoS) attacks against the Ukrainian government and critical infrastructure companies and the deployment of harmful malware.
- The government infrastructure and private companies are also major targets for hackers in the United States. For instance, in August 2021, Hafnium, a Chinese hacker gang, discovered Microsoft Exchange vulnerabilities that provided them access to the email accounts of at least 30,000 firms in the United States and 250,000 globally. At least ten more advanced persistent threat groups began exploiting the security holes for coin mining and espionage shortly after Microsoft publicized the problems and began patching the email server vulnerabilities.
Network Security Firewall Industry Overview
The network security firewall market is highly fragmented. The major players use strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some of the key developments in the market are:
- August 2022 - Comcast Business announced a strategic partnership with Fortinet®, a global leader in comprehensive, integrated, and automated cybersecurity solutions. This collaboration will deliver enterprises a new set of secure access service edge (SASE) and security service edge (SSE) solutions to help enterprises protect their distributed workforces using a cloud-delivered approach to security policy enforcement and expand Comcast Business's managed services expertise.
- August 2022 - NEC Corporation, a leader in the integration of IT and network technologies, and Fortinet®, a global leader in comprehensive, integrated, and automated cybersecurity solutions, have entered an international agreement to jointly build secure 5G networks for communication service providers (CSPs). Through the partnership, Fortinet will provide its comprehensive, best-in-class security solutions, including FortiGate - the world's most deployed next-generation firewall and highest performing hyper-scale firewall. At the same time, NEC will offer professional services built on its solid track record in the telecom industry to deliver carrier-grade, sustainable networking required in 5G.
Network Security Firewall Market Leaders
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SAP SE
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Cisco Systems Inc.
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Mobileum Inc.
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Anam Technologies
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Fortinet
*Disclaimer: Major Players sorted in no particular order
Network Security Firewall Market News
- August 2022 - Fortinet®, a global leader in broad, integrated, and automated cybersecurity solutions, today announced the FortiGate 4800F series of hyperscale firewalls, which sets new standards for security, scale, performance, and innovation to meet the requirements of hyperscale customers and 5G mobile network operators (MNOs). Powered by 16 of Fortinet's seventh-generation network processors (NP7), FortiGate 4800F offers the highest performance figures of any compact firewall, with Security Compute Ratings that deliver up to 34x better performance than competitor solutions, including the ability to support an average of 19x more connections per second.
- February 2022 - Juniper Networks, a leader in secure, AI-driven networks, today announced the newest addition to its Secure Access Service Edge (SASE) architecture, Juniper Secure Edge. This new solution delivers Firewall-as-a-Service (FWaaS) as a single-stack software architecture managed by Security Director Cloud to empower organizations to secure workforces.
Network Security Firewall Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Implementation of Next-Generation Networking Technologies
4.2.2 Administrative Regulations Encouraging Network Security Application Firewall
4.2.3 Advancement of Digital Transformation in the Telecommunications Industry
4.3 Market Restraints
4.3.1 The Absence of Basic Network Firewall Restoration
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of Impact of Covid-19 on the Network Security Firewall Market
5. MARKET SEGMENTATION
5.1 By Component
5.1.1 Solutions
5.1.1.1 Signaling Firewall
5.1.1.2 SMS Firewall
5.1.2 Services
5.1.2.1 Managed Services
5.1.2.2 Professional Services
5.2 By Type
5.2.1 Packet Filtering
5.2.2 State full Packet Inspection
5.2.3 Next Generation Firewall
5.2.4 Unified Threat Management
5.3 By Deployment
5.3.1 On-Premises
5.3.2 Cloud
5.3.3 Network Functions Virtualization (NFV)
5.4 By End-User
5.4.1 Telecommunication and IT
5.4.2 BFSI
5.4.3 Education
5.4.4 Consumer Goods and Retail
5.4.5 Manufacturing
5.4.6 Healthcare and Life Sciences
5.4.7 Other End-Users
5.5 By Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 SAP SE
6.1.2 Cisco System Inc.
6.1.3 Mobileum Inc
6.1.4 ANAM Technologies
6.1.5 Fortinet Inc.
6.1.6 BICS SA
6.1.7 Cellusys
6.1.8 Amd Telecom Private Limited
6.1.9 NetNumber Inc.
6.1.10 Openmind Networks
6.1.11 Juniper Networks Inc.
6.1.12 Watchguard Technology Inc.
6.1.13 Checkpoint Software Technology Limited
6.1.14 Palo Alto Networks Inc.
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Network Security Firewall Industry Segmentation
A firewall is an interface between the inner network and the outer network. The firewall stops every unusual activity occurring in the network. The firewall consists of hardware and software. The main purpose of the installation of a firewall in any system is to reduce the effect of any unauthorized access to the system. The firewall protects users at different levels of the network such as packet-filtering firewalls, stateful inspection firewalls, circuit-level gateways, application-level gateways, next-gen firewalls, and others. The market is segmented by Component (Solutions and Services), By Type (Packet Filtering, State full Packet Inspection, and Next Generation Firewall ), By Deployment (On-Premises, Cloud and Network Functions Virtualization (NFV)), By End-User (Telecommunication and IT, BFSI and Education ), and Geography.
| By Component | ||||
| ||||
|
| By Type | |
| Packet Filtering | |
| State full Packet Inspection | |
| Next Generation Firewall | |
| Unified Threat Management |
| By Deployment | |
| On-Premises | |
| Cloud | |
| Network Functions Virtualization (NFV) |
| By End-User | |
| Telecommunication and IT | |
| BFSI | |
| Education | |
| Consumer Goods and Retail | |
| Manufacturing | |
| Healthcare and Life Sciences | |
| Other End-Users |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Network Security Firewall Market Research FAQs
What is the current Network Security Firewall Market size?
The Network Security Firewall Market is projected to register a CAGR of 13% during the forecast period (2024-2029)
Who are the key players in Network Security Firewall Market?
SAP SE, Cisco Systems Inc., Mobileum Inc., Anam Technologies and Fortinet are the major companies operating in the Network Security Firewall Market.
Which is the fastest growing region in Network Security Firewall Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Network Security Firewall Market?
In 2024, the North America accounts for the largest market share in Network Security Firewall Market.
What years does this Network Security Firewall Market cover?
The report covers the Network Security Firewall Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Network Security Firewall Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Network Security Firewall Industry Report
Statistics for the 2024 Network Security Firewall market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Network Security Firewall analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Network Security Firewall Market Report Snapshots
