by A next generation firewall (NGFW) provides enhanced network security compared to traditional firewalls by incorporating additional network security functions such as application awareness, cloud-based security services, integration with third-party threat intelligence providers, advanced persistent threat protection, web filtering and malware detection. With more users adopting cloud computing and increased remote work owing to the COVID-19 pandemic, organizations are increasingly relying on cloud services and solutions. Advanced features of NGFWs such as cloud security services, web filtering and malware detection have become important to ensure robust security of cloud workloads and remote users’ devices.
The Global Next Generation Firewall Market is estimated to be valued at US$ 5399.06 Mn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Next Generation Firewall market are Cisco Systems, Juniper Networks, Fortinet, Palo Alto Networks, Barracuda Networks, Forcepoint, Zscaler, Watchguard Technologies, Sophos, Check Point Software Technologies, Hillstone Networks, Huawei Technologies, Untangle, Stormshield, SonicWall, NetGate, Smoothwall, Sangfor Technologies, Microsoft, VMware.
The increasing adoption of cloud-based services as well as remote working trends will foster market growth by boosting the demand for advanced security solutions. NGFW solutions provide enhanced security from emerging threats and assure safety of applications and data hosted on cloud platforms. Rising instances of cyber-attacks including phishing, malware, and ransomware have prompted organizations to adopt advanced firewall technologies for comprehensive network security. Adoption of Internet of Things (IoT) technologies across industries has introduced new security vulnerabilities, thereby driving demand for next generation firewalls.
Technological advancements such as artificial intelligence, machine learning, deep packet inspection, signatureless malware protection and application control are being incorporated into next generation firewall solutions to detect even unknown cyber threats and enforce granular access control policies. Integration of firewall capabilities with threat intelligence services aids in early detection of vulnerabilities and botnets distributing malware.
Market Drivers
The rapid transition to cloud-based applications and services across industries has accelerated the deployment of next generation firewalls in organizations. NGFW solutions ensure visibility and control over network traffic including encrypted connections to cloud environments and applications accessed remotely through personal devices. Their superior intrusion prevention and threat protection capabilities compared to traditional firewalls drive their higher adoption rate. Growth in BYOD and mobilE-working trends imply the need for advanced network security measures to monitor and filter devices connecting to business networks from any location. This drives demand for next generation firewall technologies which integrate contextual awareness and adaptive policies based on device, user and application attributes.
Current Challenges in Global Next Generation Firewall Market
The Next Generation Firewall Market Size has been growing at a decent pace over the past few years. However, there are a few challenges being faced by players operating in this market.
One of the major challenges is the complex network infrastructure and architecture of modern organizations. With the rising adoption of cloud computing services and bringing-your-own-device policy in companies, the network perimeter is constantly evolving. This makes it difficult for traditional firewalls to effectively secure the network. Next generation firewalls need to able to adapt quickly to changes in network infrastructure.
Secondly, there has been a rapid rise in sophisticated cyber threats like ransomwares and advanced persistent threats. Hackers are finding newer ways to bypass traditional firewalls. Next generation firewalls need to have strong capabilities like application control, intrusion prevention, sandboxing, etc. to detect and block both known and unknown threats. Continuous updation is required to deal with the evolving threat landscape.
Budget constraints also remain a key hurdle for many small and medium enterprises to upgrade to next generation firewall solutions. While legacy firewalls may suffice their basic needs, advanced security offered by next gen firewalls is still seen as an unnecessary added expense. Firewall vendors need to make their offerings more affordable.
SWOT Analysis
Strength: Provides better network visibility and granular controls over applications, users, endpoints, etc. Features like AI/ML based analytics help detect unknown threats.
Weakness: Initial setup and configuration complexity for large networks. High upfront investment and expertise required.
Opportunity: Growing adoption of cloud, IoT, and mobility increasing demand for advanced network security. Emerging trends like SASE and prevention-first models opening new opportunities.
Threats: Stiff competition forcing vendors to invest more in R&D to constantly innovate. Open source firewall solutions pose pricing pressure.
Geographical Regions
In terms of value, the global next generation firewall market is currently concentrated in North America region. Strong security regulations and early adoption of advanced technologies have led to North America accounting for over 35% market share. Asia Pacific region is expected to witness the fastest growth during the forecast period owing to increasing cyber attacks, digitalization initiatives, and policy push for data localization in countries like India and China. Europe holds the second largest market share with strict data protection laws driving cybersecurity spending in the region.
Global Next Generation Firewall Market is currently led by North America in terms of value dominated by key players like Cisco, Palo Alto Networks, Fortinet, etc. Asia Pacific region especially China, India is expected to exhibit fastest growth during forecast period due to rising digitalization, cyber threats and data localization driving next generation firewall adoption.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
