Enterprise Firewall Market Size, Share, And Growth Report 2032

Enterprise Firewall Market Insights

Zion Market Research has published a report on the global Enterprise Firewall Market, estimating its value at USD 11.13 Billion in 2023, with projections indicating that it will reach USD 27.34 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 10.5% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Enterprise Firewall Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Enterprise Firewall Market: Overview

Firewalls are basic and security tools used to examine the flow of the enterprise's inbound and outbound data packets. The Enterprise Firewall is governed by the rules and regulations and decides whether the flow is safe and against any malicious activity and in want of security. Hackers in the world are getting ways to jump into any website or data. To reply, the vendors of firewalls are responding with great and advanced Enterprise Firewall to curb the misleading of data. The market is primarily driven by the rising demand for network security in IT and within the enterprise with solutions and provide quantifiability and robust security at various speeds. The advancement of digital transformation has paved a way to increase security with the convergence of Information Technology and Operational Technology. The integration is basically due to the need for optimization. Software as a Service (SaaS) is expected to grow and continue over the forecast period. It is another way to deliver applications via the internet and protect internal data centers and servers.

Enterprise Firewall Market: Growth Factors

There has been an increase in the external and internal threats, cyberattacks. Ransomware and malware vulnerabilities in work environment applications and processes have been active constantly across the world. The McAfee data showed that the company captured a 605% rise in threats in the second quarter and continued to grow in the third and fourth quarters. This continuous attack into the security has ultimately made sure that it is one of the growth factors for the enterprise firewall market to curb the threats.

The need for efficient data distribution, data storage, and compliant workflow brings the entry of Cloud services. These services are backed by an increase in demand for network securities in many industries like BFSI, Manufacturing due to its real-time solutions. Many organizations are continuously moving away from hosting services and various applications, and the use of Virtual Machines VM and cloud services are getting traction. They are using solutions like the cloud as a Firewall. Security problems are one of the foremost vital factors which are letting the expansion of cloud services.

Enterprise Firewall Market: Segmentation

Firewall Type Segment Analysis Preview

The Web Application Segment held a share of 37.2% in 2020. This segment includes vendors providing solutions with either hardware appliances or virtual appliances with cloud-based firewall security. The network vulnerability scanners with some devices and toolkits can use many data and drive it to other levels. It depends upon the HTTP Applications. It is a valuable tool for all organizations and enables businesses to apply it to their workflow efficiently.

Another is Next Generation Firewall which collects and reports the logs generated from various firewalls. More electronic devices are increasing, and with it, the Internet of Things is becoming popular. There has been a concern to protect the network infrastructure, and NGFW provides the solution for the same. Conventional firewall forms the firewall type segment.

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Organization Size Segment Analysis Preview

The Large enterprise segment for the firewall held a significant share in the market. This is accredited to the rising demand for increased data breaching and attacks on applications via the web in industries like IT and BFSI. This trend will help the Enterprise segment hold a substantial market share during the forecasted period. The demand in the IoT and the need for Industry 4.0 has brought many small and medium enterprises to adopt the enterprise firewall technologies slowly.

End-User Segment Analysis Preview

BFSI Segment held a share of 30% in 2020. This segment deals with finances and customers' data, and to protect the need for critical transactions to some malware, firewalls are necessary for security purposes. The growth in the forecasted years will be attributed to the enhancement in blockchain technologies, as there will be digital currency been used widely in the world. The secure payment gateway has to be significant, and more effective improvements will boost the market's growth.

The demand in the digital transformation in the telecom sector will give significant growth for the Enterprise firewall market. There has been a changing role of security in the telecom sector. The evolution of 4G and introduction to 5G technology have made sure companies realize the proper protection of the environments. Fortinet, one of the leading solution companies, provides tools and solutions to security visibility and controls the mobile 4G and 5G infrastructure. More enhancements in the telecom sector will boost the market in the forecasted years.

Government, Healthcare, Manufacturing, Retail, Entertainment, and Others form the end-user segment.

Enterprise Firewall Market: Report Scope

Enterprise Firewall Market: Regional Analysis

North America is projected to grow at a CAGR of 12.1% during the forecast period. The North American market is likely to witness a significant increase in the demand for Enterprise Firewall due to the rise in the adoption of high-performance real-time security solutions. Many North American companies saw a surge in a ransomware attack. U.S holds the largest share in the cloud as a service firewall market. The ever-rising business securities and large enterprises in North American countries have paved an opportunity to grow the market. The need is backed by the government's laws and regulations to curb malware attacks in every sector.

The Asia Pacific is expected to witness substantial growth in terms of revenue during the forecast period. The different cultures and markets in APAC countries create a specific expectation, and huge investments made by the government for national security are some of many reasons that contribute heavily to the global market. The ever-growing IT technology and expansion of enterprise networks in the regions have made sure there is a growth of the enterprise firewall market.

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Enterprise Firewall Market: Competitive Players

Some of the key players in the Enterprise Firewall market include:

• Cisco Systems
• Juniper Networks
• Palo Alto Networks
• Fortinet Inc.
• Barracuda Networks Inc.
• Sophos Group Plc.
• McAfee
• Dell Inc.
• Checkpoint Technologies
• Microsoft
• Imperva
• Infinity Labs
• Among others

The Global Enterprise Firewall Market is segmented as follows:

By Firewall Type

• Web Application Firewall
• Conventional Firewall
• Next-Generation Firewall (NGFW)

By Organization Size

• Large Enterprises
• Small and Medium Enterprises (SMEs)

By End-User

• Government
• Information Technologies
• Healthcare
• Manufacturing
• Retail
• Telecommunication
• Entertainment and Media
• BFSI
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa