Firewall as a Service Market Overview
Cloud computing is playing a critical role in transforming IT infrastructure and the growing adoption of cloud solutions in enterprise IT landscape is having a massive impact on enterprise network security in recent years.
With the adoption of digital solutions and technologies such as cloud computing, mobility, and software defined networking, the need for firewall as a service solutions is increasing secure resources and data once they have moved to the cloud. Also, the growing adoption of Platform-as-a-Service and Infrastructure-as-a-Service strategies by enterprises is driving the adoption of Firewall as a Service to address the security concerns in the cloud environment.
Moreover, the growing adoption of web and mobile applications and the rising demand for advanced security solutions and services to mitigate the risk of cyber-attacks are generating the potential growth opportunities for Firewall as a Service market.
In recent years, the growing demand of interconnected devices among the enterprises has generated the need of security to protect the data and information from security breaches and cyber-attacks.
Also, most of the small & medium enterprises lack in budget and expertise in managing and maintaining the firewall, and due to this factor, enterprise are continuously moving towards the adoption of Firewall as a Service to get the security needed for securing their IT infrastructure
Impact of COVID-19
The emergence of COVID-19 pandemic brings the high spending on advanced solutions and technologies such as cloud computing, IoT, AI, and enterprise mobility. Moreover, the increasing work-from-home scenario amid global lockdowns due to COVID-19 outbreak, is expected to drive the demand for cloud-based application during Q2-Q4 2020.
Public cloud services and cloud security solutions are expected to rise in coming years which is expected to create potential growth opportunities for the Firewall as a Service market. According to estimates, the Firewall as a Service market was valued around US$ 1.5 Bn in 2019 and the market is expected to increase 1.5X during 2019-2021, due to outbreak of COVID-19.
Also, during 2014-2019, the Firewall as a Service market has grown at a CAGR of around 22% and owing to the outbreak of COVID-19 the Firewall as a Service market is expected to witness the growth of around 30% in next 5 years.
Firewall as a Service Market: Market Dynamics
The rise in remote access, cloud-based resources, and mobility solutions is one of the key factors driving the growth of Firewall as a Services market. Moreover, the growing need to constantly balance network and data vulnerability against deployment of new apps and cloud solutions is propelling the growth of Firewall as a Service market.
Furthermore, the continuous rise in demand for advanced cyber security solutions, stringent government regulations regarding data security, increasing the adoption of IoT based solutions are some of the key factors creating potential growth opportunities for the Firewall as a Service market.
The continuous advancement in the security management solutions and services and increasing number threat issues in the enterprises is also bolstering the growth of Firewall as a Service solutions. Apart from this, rise in adoption of public cloud solutions among enterprises and the growing need to secure cloud workloads is creating potential growth opportunities for the growth of Firewall as a Service market.
Furthermore, the growing trend of BYOD (Bring-Your-Own-Device) and rising internal and external threats among the enterprises are also among the major factors driving the growth of Firewall as a Service market.
Firewall as a Service Market: Competition Landscape
Most of the leading players in the Firewall as a Service market are coming with innovation and advanced solutions to meet the ever-changing demand for security solutions. Also, leading players in the Firewall as a Service market are focusing on entering into partnerships and collaborations to better serve the customers and to enhance their capabilities and roadmaps of advanced security solutions.
Some of the key players in the Firewall as a Service market are
- Cisco Systems, Inc.
- Palo Alto Networks, Inc.
- Juniper Networks
- Sophos, Ltd.
- Check Point Software Technologies
- Barracuda Networks
- WatchGuard Technologies
Firewall as a Service Market: Regional overview
On the basis of regions, North America is expected to be one of the key market for Firewall as a Service market owing to the early adoption of advanced technologies and presence of leading Firewall as a Service providers in the region.
Moreover, the Firewall as a Service market in Europe and Asia Pacific is also expected to create significant growth opportunities, owing to the rising adoption of digital technologies, cloud solutions, and continuous increase in adoption of advanced security solutions among the enterprises in the regions to strengthen their IT framework.
Furthermore, the rising BYOD trend and increasing spending on strengthening enterprise IT security in the advanced and emerging economies around the globe is expected to drive the Firewall as a Service market. The Firewall as a Service market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on
- Firewall as a Service Market Segments
- Firewall as a Service Market Dynamics
- Firewall as a Service Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in Firewall as a Service Market
- Technology Landscape
- Value Chain of the Firewall as a Service Market
- Market Drivers and Restraints
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, BENELUX, Russia, Rest of Europe)
- East Asia (China, Japan, & South Korea)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)
Firewall as a Service Market Segmentation
The Firewall as a Service market has been segmented on the basis of service type, deployment model, enterprise size, and vertical.
- Traffic Monitoring and Control
- Compliance and Audit Management
- Reporting and Log Management
- Automation and Orchestration
- Security Management
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Small & Medium Enterprises
- Large Enterprises
- IT & Telecom
- Travel & Hospitality
- Energy & Utilities
- Retail & Consumer Goods
- Transportation & Logistics