Chicago, March 11, 2024 (GLOBE NEWSWIRE) — The global Next Generation Firewall Market size is projected to grow from USD 5.0 billion in 2023 to USD 8.6 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period, according to a new report by MarketsandMarkets™.
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Next Generation Firewall Market Dynamics:
Drivers:
Rising demand for NGFW due to increased cyber-attack threats
Growing IoT and BYOD trends to heighten network security needs
Remote work culture to spur demand for refined security solutions
NGFW providers to drive enterprise security compliance advancements
Restraints:
High installation costs and complexity in network systems
Resistance to change
Opportunities:
Integration of advanced technologies to elevate NGFW capabilities for enterprises
Increased adoption of cloud services to drive demand for NGFW
List of Key Players in Next Generation Firewall Market :
Palo Alto Networks
Cisco
Fortinet
Check Point
Juniper Networks
Barracuda Networks
SonicWall
Zscaler
Forcepoint
Hillstone Networks
The rise in IoT and BYOD trends has heightened network security needs. Next-Generation Firewalls (NGFWs) tackle these challenges through deep packet inspection, intrusion prevention, and application-layer filtering, crucial in industrial settings to safeguard against cyber-physical threats.
Simultaneously, the global shift to remote work amid the COVID-19 pandemic intensifies the demand for advanced security solutions. NGFWs, equipped with sophisticated threat detection, ensure secure remote access and data transmission, countering the cyberattack surge. This increased demand aligns with the evolving cybersecurity landscape, emphasizing NGFWs as crucial for enterprise security compliance.
Trend: ML-Powered Next-Generation Firewall
The emergence of ML-powered next-generation Firewalls represents a transformative trend in cybersecurity, shifting from reactive to proactive threat prevention. With inline machine learning, zero-delay signatures, and automated policy recommendations, these firewalls provide instantaneous threat detection, rapid updates, and streamlined security administration. This technology trend, emphasizing proactive prevention and automation, marks a significant paradigm shift in the Next-Generation Firewall market.
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Trend: Zero Trust
An emerging trend in the NGFW market is zero-trust technology adoption. With zero trust, no network traffic or user is inherently trusted, requiring rigorous verification for every request. Zero-trust firewalls employ granular policies based on contextual factors and user …
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