Firewall as a Service Market Research Report by Forecast to 2023

Firewall as a Service Market Highlights:

Organizations use firewall solutions to protect end-to-end web application and database of customer information and business. With the implementation of various firewall services, it has become easier for the organization to control the data traffic. Organizations using conventional firewall services are less flexible in coping with peak load and high user traffic as compared to next generation firewall which provide users more flexibility to manage virtual cloud environment.

Increasing incidents of attacks such as DDOS, Malware & Cyberthreats, and adoption of cloud services the market for Firewall as a Service (FWaaS) is estimated to bring rapid growth to the market. The key challenge in Firewall as a Service Market is vulnerability to cyber-attacks. Also, lack of skilled resources to manage the next generation firewall is also a major challenge which may hamper the growth of Firewall as a Service market.

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Competitive Analysis:

Leading players in the global firewall as a service market include Hillstone Network, H3C, Sangfor Technologies, Sophos, Palo Alto Networks, Zscaler, WatchGuard, Juniper Networks, Forcepoint, Fortinet, Cisco Systems, Cato Networks, Check Point Software Technologies, and Barracuda Networks.

Leading players in the global firewall as a service market are likely to engage in progressive product development over the forecast period, as the development of low-cost firewall as a service systems that are easy to handle is likely to hand companies a major edge.

In May 2019, VirtualArmour International Inc. bagged a new contract for cybersecurity services from a leading gemological organization. The new contract covers services for 18 research centers around the world and is valued at USD 98,000.

In an effort to increase awareness about firewall as a service, OPAQ and Equinix will collaborate to present a demonstration at Palo Alto Ignite ’19 in June 2019. Such efforts are likely to be important for the global firewall as a service market over the forecast period, as the low awareness among leading industry players about firewall as a service is a key restraint on the market.

Segmentation:

  • By solution, the global firewall as a service market is segmented into advanced threat protection, traffic control and monitoring, next-generation firewall, network security, identity management, managed services, and others.
  • By service model, the global firewall as a service market is segmented into software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS).
  • By deployment model, the firewall as a service market is segmented into public, private, and hybrid cloud.
  • By organization size, the market is segmented into small & medium sized enterprises and large enterprises.
  • By vertical, the market is divided into BFSI, education, energy & utilities, government, healthcare, manufacturing, retail, IT & telecom, and others.

Regional Analysis:

The geographical analysis of global firewall as a service market is done for regions like North America, Europe, Asia Pacific, and rest of the world. Among these regions, the market is mostly dominated by North America during the forecasted year. The major growth driver in this region are, increase in investment in cybersecurity companies by the corporate investors. Also, increase in initiatives by government to enhance the security of customer information and increasing need to prevent cyber-attacks is also expected to drive the market growth. For instance, On January 5, 2017, the U.S. Department of Commerce and the U.S. Department of Homeland Security has released executive order on strengthening the cybersecurity of Federal Networks and Critical Infrastructure with mission is to protect cyberspace information and infrastructure, build capabilities to prevent and respond to cyberattacks.

North America has the presence of major sustainable and well-established organizations, who invest in R&D activities, hence contributing to the development of security technology. Asia Pacific is expected to grow in forecast region due to rapid digitalization, the presence of SME’s and large Enterprises, and increasing adoption of cloud services. To defend their network against threats, SME’s are ready to use customized security applications. APAC region aims to be the fastest growing market due to increasing investment in cloud infrastructure.

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