Network Security Firewall Market to grow by USD 3.04 Bn between 2021-2026, Rising adoption of cloud and implementation of BYOD to boost market growth – Technavio – QNT Press Release


NEW YORK, Oct. 6, 2022 /PRNewswire/ — The global network security firewall market size is expected to grow by USD 3.04 billion during 2021-2026, at a CAGR of 12.05%. The rising adoption of cloud and implementation of BYOD, the need for network security and privacy, and the advent of next-generation network security technologies are one of the major factors propelling the market growth. However, factors such as shortage of skilled workforce and A lack of knowledge about threats, availability of open source and free-of-cost security firewalls may impede the market growth.

Global Network Security Firewall Market Driver

One of the major factors propelling the growth of the network security firewall market is the increased usage of cloud computing and the deployment of BYOD. Businesses across a range of sectors, including BFSI, manufacturing, healthcare, and retail, are embracing cloud computing technology to cut costs and boost the effectiveness of their IT infrastructure. Cloud computing setup takes very little time, allowing applications to be scaled up to meet corporate needs. The BYOD policy’s implementation also boosts staff productivity. Request Free Sample Report.

Global Network Security Firewall Market Trends

One of the main network security firewall industry trends driving the market’s expansion is the appearance of new products. To keep ahead of their rivals, leading suppliers in the worldwide network security firewall market are always creating and launching new technologies and solutions. This means that the adoption of network security firewalls, which will subsequently support the expansion of the market during the forecast period, is anticipated to be fueled by the rising development and launch of firewall solutions with sophisticated technologies. Buy Sample Report.

Global Network Security Firewall Market Challenge

One of the things restricting the network security firewall market’s growth is the lack of competent labor and ignorance of dangers. In the last ten years, there has been a rise in cyberattacks. As a result, businesses are implementing cutting-edge security solutions, such as network security firewalls, to solve security issues. Firewalls do have some restrictions, though. The adoption of network security firewalls during the forecast period may be hampered by the increasing nature of cyberattacks and data thefts, a lack of understanding, and the constraints associated with firewalls.

Global Network Security Firewall Market Segmentation
  • Deployment
    • On-premises
    • Cloud-based
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

The report identifies the growing demand for SMS Firewalls as one of the prime reasons driving the network security firewall market growth during the next few years. Download Free Sample Report.

Network Security Firewall Market Key Highlights
  • CAGR of the market during the forecast period
  • Detailed information on factors that will assist in network security firewall market growth during the next five years
  • Estimation of the network security firewall market size and its contribution to the parent market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of the network security firewall market, vendors
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Network Security Firewall Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 12.05%

Market growth 2022-2026

$3.04 billion

Market structure

Fragmented

YoY growth (%)

11.62

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 33%

Key consumer countries

US, Canada, China, India, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

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