Next-Generation Firewall Market Will Reach at a Highest CAGR of 13.40% by 2026

Next-generation firewall market is set to witness a healthy CAGR of 13.40% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to increasing IoT trend, rise in number of data breach cases, and surge in demand for NGFW solutions supported by stringent government regulations for data safety & security boost the next-generation firewall market growth.

Next-generation firewall can be defined as a process of collecting, archiving, managing and reporting logs. These logs are generated from various devices, including routers, servers, routers, and switches for firewalls. The next-generation firewall (NGFW) refers to third-generation network firewall innovation, integrating premium characteristics such as in-line deep packet inspection (DPI) and intrusion prevention (IPS), application-level traffic inspection capacities.

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Market Segmentation: Global Next-Generation Firewall Market

• By Solution (Hardware, Virtual, Cloud-based),
• By Service (Professional Service, Managed Service),
• By Organization Size (Small and Medium-sized Enterprises, Large Enterprises),
• By Vertical (BFSI, Retail, IT and Telecom, Government and Public Utilities, Healthcare, Energy and Utilities, Education, Others),
• By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Competitive Analysis

Global next-generation firewall market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of next-generation firewall market for Global, Europe, North America, Asia Pacific and South America.

Major Market Players

Few of the major competitors currently working in the global next-generation firewall market are Fortinet, Inc., Check Point Software Technologies Ltd., Cisco Systems, Inc., Palo Alto Networks, Inc., Barracuda Networks, Inc., Forcepoint, Zscaler, Inc., Juniper Networks, Inc., WatchGuard Technologies, Inc., Sophos Ltd., GajShield Infotech (I) Pvt. Ltd., Hillstone Networks, Huawei Technologies Co., Ltd., SonicWall, NVIDIA Corporation, Untangle, Alibaba Cloud and others.

Market Drivers:

• Increasing adoption of bring your own device (BYOD) in organizations is driving the growth of the market
• Internal and external threats to an organization are rising rapidly due to advancement in technology
• High functionalities of the NGFW solutions is fueling the market growth
• An increasing number of electronic devices are getting connected to the internet, including, smart TVs, mobile devices, among others

Market Restraints:

• High cost of NGFW solutions will restraint the market expansion
• Rising adoption of unified threat management (UTM) solutions in small and medium sized enterprises hinders the market growth
• The increasing competition with the traditional firewall systems is restraining the market growth

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key Market players involved in this industry
• Detailed analysis of the Market Segmentation
• Competitive analysis of the key players involved

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Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.