Rise in sophisticated cyberattacks, development in IoT-based complex threat landscape, and implementation of stringent government regulations for data safety & security drive the growth of the global next-generation firewall market. On the other hand, scarcity of skilled professionals and performance issues associated with cloud protection restrict the growth to some extent. However, increase in cyber security expenditure and emergence of firewall as a service are expected to create multiple opportunities for the key market players in the industry. According to the report published by Allied Market Research, the global next-generation firewall marketwas estimated at $2.57 billion in 2017, and is expected to hit $6.71 billion by 2025, registering a CAGR of 12.9% from 2018 to 2025.
Increase in sophisticated cyberattacks, development in IoT-based complex threat landscape, and enforcement of stringent government regulations for data safety & security fuel the growth of the global next-generation firewall market. On the other hand, lack of skilled professionals and performance issues associated with cloud protection hamper the growth to certain extent. Nevertheless, rise in cyber security outlay and emergence of firewall as a service are expected to create multiple opportunities in the market. The report provides an in-depth analysis of the market, including top winning strategies, industry drivers and restraints, market size & forecast, market classification, and competitive landscape.
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Based on type, the hardware segment held the largest market share in 2017, pegging at half of the total revenue. Simultaneously, the cloud-based segment is predicted to register a CAGR of 14.9% throughout the period. Based on organization size, the large enterprises’ segment contributed to nearly two-third of the total market revenue in 2017 and is anticipated to retain its top status during the period 2018–2025. At the same time, the SMEs segment would showcase the fastest CAGR of 15.5% throughout the estimate period.
Based on geography, North America accounted for more than one-third of the total market share in 2017 and is expected to dominate throughout the forecast period. The Asia-Pacific region, on the other hand, is projected to grow at the fastest CAGR of 14.6% through 2018–2025.
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The key market players analyzed in the global next-generation firewall market report include Check Point, Forcepoint, Cisco, Juniper Networks, Fortinet, Huawei, Barracuda Networks, Palo Alto Networks, SonicWall, and Sophos. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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