[333 Pages Report] The global network security firewalls market is expected to be valued at USD 19677 million by 2032, up from USD 4882 million in 2022, expanding at a CAGR of 15% during the forecast period.
The demand for network security firewalls is surging owing to the increasing demand for advanced security services to alleviate the cyber-attack risks and expanding use of web applications, and these are the factors that are impelling the growth of this market.
Report Attribute | Details |
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Network Security Firewalls Market Value (2022) | USD 4882 Million |
Network Security Firewalls Market Anticipated Value (2032) | USD 19677 Million |
Network Security Firewalls Projected Growth Rate (2022 to 2032) | 15% |
A network security firewall is a security tool made for blocking unapproved access to data that exists on a private network. This firewall is employed either in software or hardware form or a mix of both. The network security firewall has the potential to separate a specific network and its data from an external network.
These are considered the initial level of network security and render advantages such as easy installation, high-speed data transmission, and flexibility. Integrating a firewall for a network is relatively economical as compared to securing every computer independently.
The risk of security is increased, increasing the momentum of interconnected devices and safeguarding the information from cyber-attacks and security breaches, the implementation of network security firewalls is rising in several enterprises, and this eventually is boosting the growth of the network security firewalls market.
Moreover, globally cloud technology has adopted network security firewalls, and this is too promoting the network security firewalls market during the forecast period. Presently, most large- and medium-scale organization has a presence on the internet and has an organizational network connected to it. Hence, to maintain network security amongst the internal network and external internet to safeguard the business against data breaches and any kind of fraud, network security firewalls are used.
Network security firewalls assist businesses in securing communication pathways from data misuse and unauthorized access, and owing to the network security firewall market is increasing at a faster pace.
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Parameters | North America |
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Hold on the Market (2022) | 32.8% |
Key Driver | Digital transformation in the telecom sector to underpin significant growth. |
Key Opportunity | Influx of investment brought in the market by venture capitalists. |
Parameters | Europe |
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Hold on the Market (2022) | 20.70% |
Key Driver | Government intervention to unlock wide growth channels. |
Key Opportunity | GDPR norms pertaining to data privacy to unlock vast opportunity. |
Presently, North American network security firewalls are anticipated to lead the global market during the forecast period. North American network security firewalls market is said to hold 32.8% of the total market share by the end of 2022. Several countries in North America are witnessing a constant growth in cyberattacks, and therefore, venture capital in security reinforcement has assisted North America in gaining the highest market share in the global network security firewalls market.
Other factors promoting the growth of the market in this region are swift development and privacy concerns in digital transformation in the telecommunication industry are, promoting the incorporation of firewalls. Moreover, the presence of multiple vendors, who provide Distributed Denial of Service (DDoS) protection and well-timed adoption of network security firewall software solutions, are anticipated to propel the North American network security firewalls market during the forecast period.
On the other hand, the European regions account for 20.70% of the global market share for the network security firewalls market. European vendors have surfaced as innovators in developing Next Generation Firewalls (NGFW) and UTM (Unified Threat Management). The European Union Agency for Cybersecurity (ENISA) is the dedicated agency to achieve a superior level of cybersecurity across Europe.
ENISA supports EU cyber policy and develops the reliability of ICT products, processes, and services with cybersecurity certification schemes. Businesses in this region go on to use network security solutions to determine and prevent threats at an early stage. This significantly contributes to the network security firewalls market in Europe region.
The network security firewalls industry opens several opportunities for new entrants who focus on segments such as cybersecurity. In April 2022, unified cyber security platform WiJungle received its seed funding at a valuation of USD22 million from US-based global venture capital firm SOSV. WiJungle decided to be part of the SOSV program from the aspect of global quantifiability and for mentorship to work together on their plans to expand further.
Also, in June 2022, cybersecurity firm Perimeter 81 hit unicorn status with a USD100 million fundraising. This company offers secure network solutions for the hybrid workforce on its cloud-based platform. The company stated that its backers now value the Israeli cybersecurity company at USD1 billion.
Some of the key players in the network security firewalls market are SAP SE, Hewlett Packard Enterprise, Cellusys, Symsoft, Openmind Networks, Tata Communications, ANAM Technologies, AMD Telecom, Adaptive Mobile, and Infobip.
Sr. No. | 1 |
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Year | June 2022 |
Key Player | Hewlett Packard Enterprise |
Strategy Employed | Hewlett Packard Enterprise stated that it is the primary major server provider to render a new line of cloud-native compute solutions by using processors from Ampere. Also, recently Forrester Researcher, Inc., named SAP a leader among Enterprise Data Fabric Solutions. |
Sr. No. | 2 |
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Year | November 2020 |
Key Player | Amazon |
Strategy Employed | Amazon introduced AWS Network Firewall service that enables easy deployment of key network operations. It is a cloud-based solution that sets up easily using few clicks. In addition to this, the network security firewall can be scaled as per the new requirements surfacing in the future. |
Sr. No. | 3 |
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Year | April 2022 |
Key Player | Accenture |
Strategy Employed | Accenture and Vodacom teamed up to work towards the improvement of cybersecurity 4to curb instances of cyberattacks and cyber threats, which arises on account of the lack of investment. |
Sr. No. | 4 |
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Year | May 2022 |
Key Player | Capgemini |
Strategy Employed | Capgemini announced that it has opened a new office in Spain with a special focus on Cyber Defence Centre, also known as (CDC) as a Cloud Service Center. The new space in Spain will complement the CDC offices present in the U.K., France, Poland, India, Paris, the Netherlands, and Australia. |
Most of the players in the niche have an intensified focus on providing a better service in order to gain an edge over their fellow contenders. As a result, the priority has always been on improving the service quality. Cloud deployment of network security firewalls is a game-changing means for the established players to cater to requirements from geographies out of their physical coverage. Additionally, the focus is also on the expansion to new geographies to make the most out of the opportunities present, alongside having less competition to deal with.
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Report Attribute | Details |
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Growth Rate | CAGR of 15% from 2022 to 2032 |
Base Year for Estimation | 2021 |
Historical Data | 2016 to 2021 |
Forecast Period | 2022 to 2032 |
Quantitative Units | Revenue in USD million and CAGR from 2022 to 2032 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
Segments Covered | Type, Solution, Services, Deployment, Region |
Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
Key Companies Profiled | SAP SE; Hewlett Packard Enterprise; Cellusys; Symsoft; Openmind Networks; Tata Communications; ANAM Technologies; AMD Telecom; Adaptive Mobile; Infobip |
Customization | Available Upon Request |
The network security firewalls market is predicted to advance at a CAGR of 15% from 2022 to 2032.
North America is anticipated to lead the network security firewalls market through 2032.
The network security firewalls market is likely to hold a valuation of USD 19677 million by 2032.
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