Market Highlights
The global firewall as a service market size will touch USD 1.98 billion at a stellar 23.01% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Firewall as a service (FWaaS) is a cloud firewall which delivers advanced layer 7/next-generation firewall capabilities, that includes access controls like DNS security, intrusion prevention systems (IPS), advanced threat prevention, and URL filtering.
Various factors are fuelling the global firewall as a service market growth. As per the recent MRFR market estimates, such factors include increasing need for securing the organization network against unprecedented and unauthorized crimes, simplified installation of the firewall for distributed networks, increasing need for fortifying the enterprise network against unprecedented and unauthorized strikes, simplified installation and centralized policy management for distributed enterprise networks, elimination of the upfront investment cost, growing adoption of technologies by organizations like BYOD, cloud computing, and mobilization, increase in cybercrimes, increasing use during COVID-19 pandemic, and real-time functionalities and cost-effectiveness.
On the contrary, lack of technical expertise for managing the advanced firewall mechanism, lack of robust network infrastructure and lack of governance, lack of concern towards security, and penetration confined to large enterprises may limit the global firewall as a service market growth over the forecast period.
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Segmentation:
The MRFR report throws light on an inclusive segmental analysis of the global firewall as a service market based on solution, services model, deployment model, organization size, and verticals.
By solution, the global firewall as a service market is segmented into managed services, identity management, network security, next-generation firewall, traffic control and monitoring, advanced threat protection, and others.
By services model, the global firewall as a service market is segmented into platform as a service (PaaS), infrastructure as a service (IaaS), and software as a service (SaaS). Of these, the SaaS segment will lead the market over the forecast period.
By deployment model, the global firewall as a service market is segmented into hybrid, private, and public. Of these, the public segment will dominate the market over the forecast period.
By organization size, the global firewall as a service market is segmented into large enterprise and small and medium sized enterprise. Of these, the small and medium sized enterprise segment will spearhead the market over the forecast period.
By verticals, the global firewall as a service market is segmented into IT and telecom, retail, manufacturing, healthcare, government, energy and utilities, education, BFSI, and others. Of these, the retail segment will have the lions share in the market over the forecast period.
Regional Analysis
By region, the global firewall as a service market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will rule the market over the forecast period. Early adoption of cloud services, digital transformation, increased cloud initiatives by various governments, increasing investment in cyber-security companies by corporate investors, increasing initiatives by the government to improve the security of customer information, increasing need to prevent cyber-attacks, and the presence of key sustainable and well-established organizations that invest in research and development activities. Besides, the increasing number of internal threats, high penetration of internet in the US, rise in data thefts, and increase in cyber-crimes are also adding market growth.
In the APAC region, the global firewall as a service market is predicted to have admirable growth over the forecast period. Technological advancements, better security compliance offered by vendors, increasing need to prevent cybercrimes, rapid digitalization, the presence of SMEs and large enterprises, rising adoption of cloud services, rising investment in cloud infrastructure, increased information and communications technology spending in government infrastructure, FWaaS initiatives, and the need to prevent unauthorized access to networks are adding to the global firewall as a service market growth in the region.
In Europe, the global firewall as a service market is predicted to have admirable growth over the forecast period. Growing data thefts and cyber-crimes across several organizations, governments are trying to come up with strict regulations about customer privacy, and high internet penetration, are adding to the global firewall as a service market growth in the region.
Key Players
The leading players profiled in the global firewall as a service market report include Hillstone Network(US), H3C(China), Sangfor Technologies(China), Sophos (UK), Palo Alto Networks (US), Zscaler (US), WatchGuard (US), Juniper Networks (US), Forcepoint (US), Fortinet (US), Cisco Systems (US), Cato Networks (Israel), Check Point Software Technologies (Israel), and Barracuda Networks (US), among others.
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Firewall as a Service Market, By Solution (Advanced Threat Protection, Next Generation Firewall, Traffic Control & Monitoring, Managed Services), by Service Model, Deployment Model, Organizational size, Verticals, and by Region- Forecast till 2027
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