Enterprise Firewall Market

Global Enterprise Firewall Market Size & Growth (2023 – 2028)

The global enterprise firewall market is supposed to develop from US$8.41 billion in 2022, at an expected Compound Annual Growth Rate (CAGR) of 9.69% over the outlook period of 2023 to 2028.

Firewall is an independent and programming-based network technique that is utilized to control, block, and permit the network traffic based on standards and set policies. With the expanding needs of security, firms are quickly receiving the most recent security advances in order to balance the high-level dangers that are developing at a lot higher rate. New policies received by enterprises, for example, bring your own device (BYOD), cloud computing, etc., are uncovering the networks of an enterprise to the rest of the world. This has brought about increased dangers to enterprise security. Employees working on the field should carry gadgets with them and connect with outside networks, further expanding the security vulnerabilities. Companies are assessing their network security to improve their organization security structure. Enterprise firewall is the choice of numerous organizations to beat the security concerns driving the demand in the enterprise firewall market universally.

Market Drivers:

The global enterprise firewall market is totally driven by the rising interest of dedicated networks in the firms that gives solutions, delivers scalability, reliability, and deep security at multi-Giga-bit speeds. NGFW is one such solution that is as a rule quickly embraced by large enterprises because of its different functionalities and advantages. Moreover, it offers advantages, for example, centralized administration of information, deep packet inspection at ultra-low idleness level, user identification, application control, and enhanced IDS/IPS solutions. The interest for cloud-based firewall solution is growing because of its financially smart and continuous security solutions alongside improved operational productivity highlights of the stage.

Market Restraint:

As the organization framework is broadening and the information are driven into cloud, more granular access control and staggered security is needed to make sure about the enterprise network. Then again, UTM devices are giving a lot of competition to firewalls and confining its application in SMEs. Henceforth, sellers in enterprise firewall industry are thinking of advancements and answers for increment its reception in SMEs as well. The market is very competitive with the section of specialty players which give innovative integrated software and tools in this manner increment their market bargain capability among the large vendors.

Recent Devlopment:

• March 2020 - Sophos, a supplier of Firewall declared plans, for example, Sophos Home Commercial Edition Program for enterprise security and free access for 90 days.
• May 2020 - Fortinet dispatched the world's first Hyperscale enterprise network firewall, Fortinet 4200F which got an exhibition support which is credited to a seventh-gen network processor that empowers higher adaptability and execution. FortiGate 4200F carries on as an integral piece of the Fortinet Security fabric. It is designed to empower an innovative, security-driven systems administration approach that consistently integrates networking with security.
• August 2020 - Infinity Labs dispatched Infinxt Secure SD WAN, a software-defined solution with Inbuilt next-generation firewall (NGFW). The Infinxt SD WAN offers enterprise security with quick and simple networks, improved cloud foundation, with inbuilt NGFW. The solution centers around conveying high-quality experience in business-driven applications with no trade off on security.
• In October 2020, US installments processor Visa uncovered that two North American cordiality shippers were hacked and had their framework tainted with retail location (POS) malware recently. Visa said it discovered three area strains of POS malware on the casualty organization in particular, RtPOS, MMon (otherwise known as Kaptoxa), and PwnPOS.

GLOBAL ENTERPRISE FIREWALL MARKET REPORT COVERAGE:

Market Segmentation:

Global Enterprise firewall market is divided based on type, deployment mode and organization size.

Based on type, the market is divided into regular firewall, application firewall and next generation firewall (NGFW).

Based on deployment mode, the enterprise firewall market is portioned into on-premises and cloud organization.

Based on organization size, the market is portioned into small and medium enterprises and huge enterprises. Cloud-based arrangement is required to be the key technique over the figure time frame. Enterprise vertical may incorporate government and public utilities, medical care, media transmission, training, retail, amusement and media, assembling, schooling and BFSI.

Regional Analysis:

Based on geography, the global enterprise firewall market is fragmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. North America is anticipated to encounter huge development among all regional fragments in the coming years, because of the presence of huge number of enterprises and severe government guidelines. Cloud arrangements are going through a crucial part in driving the development of enterprise firewall in this continent, because of its attributes that include cost-effectiveness, automatic integrations, minimum IT investment, and easy accessibility.

Key Market Players:

The worldwide enterprise firewall market is exceptionally serious in nature and is set apart with the presence of a few global and homegrown central members. Significant parts in the enterprise firewall market incorporate Cisco Systems, Juniper Networks, Palo Alto Networks, Barracuda Networks, IBM Internet Security Systems, WatchGuard Technologies, McAfee, Inc. (Intel Security), Fortinet, Inc., Huawei Technologies and Imperva, Inc.

Covid-19 Impact On Enterprise Firewall Market

Coronavirus quickened the adoption of cloud infrastructure and services too which has made the firms to move to loud based firewall and firewall-as-a-service. For example, In June 2020, MrOwl, a Social Cloud Storage stage that joins search, social, and computerized association, begun offering comprehensive resources and tools to enable the users to safeguard themselves and continue being productive in the era of working from home (WFH). Furthermore, different financial investors and financial specialists are having an eye for ventures as the COVID-19 has given new development occasions to the vendors in the market. For example, In April 2020, Palo Alto substance firewall business scored USD 120 million and plans on growing further through acquisitions.