According to the report published by Allied Market Research, the global next-generation firewall market was estimated at $2.57 billion in 2017, and is expected to hit $6.71 billion by 2025, registering a CAGR of 12.9% from 2018 to 2025. The report provides an in-depth analysis of the market, including top winning strategies, industry drivers and restraints, market size & forecast, market classification, and competitive landscape.
Increase in sophisticated cyberattacks, development in IoT-based complex threat landscape, and enforcement of stringent government regulations for data safety & security fuel the growth of the global next-generation firewall market. On the other hand, lack of skilled professionals and performance issues associated with cloud protection hamper the growth to certain extent. Nevertheless, rise in cyber security outlay and emergence of firewall as a service are expected to create multiple opportunities in the market.
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Based on type, the hardware segment held the largest market share in 2017, pegging at half of the total revenue. Simultaneously, the cloud-based segment is predicted to register a CAGR of 14.9% throughout the period.
Based on geography, North America accounted for more than one-third of the total market share in 2017 and is expected to dominate throughout the forecast period. The Asia-Pacific region, on the other hand, is projected to grow at the fastest CAGR of 14.6% through 2018–2025.
The key market players analyzed in the global next-generation firewall market report include Check Point, Forcepoint, Cisco, Juniper Networks, Fortinet, Huawei, Barracuda Networks, Palo Alto Networks, SonicWall, and Sophos. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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