The Enterprise Firewall Market is expected to grow at a CAGR of 9.69% over the forecast period (2021 – 2026).
Earlier used enterprise firewalls have lost their feasibility in the current market scenario, as the high level of threats posed by modern hacking methods cannot be handled by conventional systems.
– Enterprise firewalls are the basic units of network security. They examine the flow of inbound and outbound data packets in an enterprise network against a set of predefined values to detect any malicious activity in the network.
– With the emergence of cloud technology, firewalls are now being deployed which offers a bundled solution that ensures availability of firewall on any device, addresses any traffic workload, and enforces similar policies across the organization.
– According to the Identity Theft Resource Center (ITRC), in the United States in 2017, the commercial networks witnessed 1,013 breaches, exposing more than 166 million records, out of which 98% belonged to various organizations operating in the business sector.
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Top leading Players Profiled in Enterprise Firewall Market Report are: Cisco Systems, Juniper Networks, Palo Alto Networks
Regional Analysis for Enterprise Firewall Market:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Europe, Germany, France, UK, Italy, Russia, Rest of Europe, Central & South America
The enterprise firewall market is highly competitive in nature and is mildly concentrated due to the presence of several international and national players. Major players in the enterprise firewall market include Cisco Systems, Juniper Networks, Palo Alto Networks, Cisco systems among others.
– March 2020 – Sophos, a provider of Firewall announced schemes such as Sophos Home Commercial Edition Program for enterprise protection and free access for 90 days.
– May 2020 – Fortinet launched the world’s first Hyperscale enterprise network firewall, Fortinet 4200F which received a performance boost which is credited to a seventh-generation network processor that enables higher scalability and performance. FortiGate 4200F behaves as an integral part of the Fortinet Security fabric. It is engineered to enable an innovative, security-driven networking approach that seamlessly integrates networking with security.
– August 2020 – Infinity Labs launched Infinxt Secure SD WAN, a software-defined solution with Inbuilt next-generation firewall (NGFW). The Infinxt SD WAN offers enterprise security with rapid and easy deployment, optimized cloud infrastructure, with inbuilt NGFW. The solution focuses on delivering high-quality experience with business-centric applications without any compromise on security.
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Key Market Trends
Cloud Services to have High Growth Rate due to enhanced adoption of Industry 4.0
– Cloud computing is increasing day by day, owing to the flexible work environment, data distribution, and efficient data storage that cloud computing provides is unmatched by any other traditional computing and data storage systems.
– Consequently, numerous companies are heading toward cloud computing, placing their data and communications in the cloud. Security issues are one of the most important factors hampering the growth of cloud adoption.
– The increasing demand for network security, especially in the manufacturing sector is primarily due to the rapid adoption of Industry 4.0 policies, also IoT applications are expected to create a huge demand for enterprise firewall systems.
– With the emergence of cloud technology, firewalls are now being deployed which offers a bundled solution that ensures availability of firewall on any device, addresses any traffic workload and enforces similar policies across the organization.
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Enterprise Firewall Market Scenario:-
North America Occupies the Largest Market Share
The North American region currently has the highest market share, due to the high preference of businesses for security, and continuous adoption of high performing network security solutions by organizations.
– Cloud solutions are playing a vital role in propelling the growth of enterprise firewall in this region, due to its attributes that include cost-effectiveness, automatic integrations, minimum IT investment, and easy accessibility.
– The latest technological breakthroughs have also assisted the advancement of the enterprise firewall market. These advancements can make the overall processes more efficient and can significantly improve accuracy in numerous applications. There have been a series of new product launches, mergers, and acquisitions in the North American region to take advantage of this opportunity.
– According to cybersecurity company Lumu, in 2020, 69 % of North American companies said they were the victim of a ransomware attack. Over the last year, 15.4 % of North American local, state, and federal governments also reported having suffered from a ransomware attack, the highest of any other category. Businesses most targeted include manufacturing (13.9%), construction (13.2%), utilities (11.1%), service (10.4%), retail (7.4%), real estate (7.1%), and hospitality (6.1%).
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