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Firewall-As-A-Service Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Firewall-As-A-Service Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, November 4, 2024 /EINPresswire / -- The firewall-as-a-service market has experienced significant growth in recent years. It is projected to expand from $2.79 billion in 2023 to $3.44 billion in 2024, representing a compound annual growth rate (CAGR) of 23.3%. This historical growth can be attributed to the rise in cybersecurity threats, an increase in remote work and cloud adoption, a focus on network security and access control, the implementation of bring your own device (BYOD) policies, and the emergence of software-defined networking (SDN).
What Is The Estimated Market Size Of The Global Firewall-As-A-Service Market And Its Annual Growth Rate?
The firewall-as-a-service market is projected to experience substantial growth over the next few years. It is expected to reach $8.74 billion by 2028, with a compound annual growth rate (CAGR) of 26.3%. This anticipated growth during the forecast period can be linked to the rising adoption of zero trust security models, the increasing focus on Internet of Things (IoT) security, a strong emphasis on cloud-native security solutions, the expansion of firewall-as-a-service for 5G networks, and the growth of cloud-native firewalls. Key trends expected during this period include the integration of artificial intelligence into firewall-as-a-service, micro-segmentation for improved network security, collaboration with cloud security posture management (CSPM), a focus on threat intelligence and threat hunting, and the adoption of secure access service edge (SASE) principles within firewall-as-a-service.
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Growth Driver Of The Firewall-As-A-Service Market
The rise in fraud cases and cyber-attacks is anticipated to drive the growth of the firewall-as-a-service market in the future. A cyberattack refers to a malicious and intentional effort by an individual or organization to infiltrate another's information system. Each year, cybercrime continues to grow as individuals seek to exploit vulnerable business systems. The visibility and traffic filtering offered by a firewall allow organizations to detect and block a significant portion of malicious traffic before it infiltrates the network perimeter, thereby providing an additional layer of defense.
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Who Are The Key Players Shaping The Firewall-As-A-Service Market Trends?
Key players in the market include Barracuda Networks Inc., Cisco Systems Inc., Juniper Networks Inc., Cato Networks, Forcepoint, Fortinet Inc., Check Point Software Technologies Inc., Palo Alto Networks Inc., WatchGuard Technologies Inc, Microsoft Corporation, SonicWall, Sophos group PLC., Zscaler Inc., Akamai Technologies Inc., Armor Defense Inc., AT&T Inc., Lumen Technologies Inc., Cloudflare Inc., Comodo Security Solutions Inc., Cyxtera Technologies, F5 Inc., Google LLC., The International Business Machines Corporation., Netskope Inc., Okta Inc., Oracle corporation., Proofpoint Inc., Qualys Inc., Secureworks Inc., Broadcom Inc., Trend Micro Inc., Vmware Inc.
What Are The Dominant Trends In Firewall-As-A-Service Market Growth?
Key players in the firewall-as-a-service market are concentrating on creating edge computing solutions to enhance the deployment of firewall services and improve the efficiency of firewall security operations. Edge computing involves a distributed information technology (IT) architecture where client data is processed at the edge of the network, as near to the source of the data as possible.
How Is The Global Firewall-As-A-Service Market Segmented?
1) By Service Type: Traffic Monitoring and Control, Compliance and Audit Management, Reporting and Log Management, Automation and Orchestration, Security Management
2) By Deployment: Private, Hybrid
3) By Enterprise Size: Large Enterprise, Small and Medium Enterprises
4) By Vertical: Banking, Financial Services and Insurance, IT and Telecom, Manufacturing, Travel and Hospitality, Healthcare, Energy and Utilities, Retail and Consumer goods, Other Verticals
Geographical Insights: North America Leading The Firewall-As-A-Service Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Firewall-As-A-Service Market Definition
Firewall as a Service (FWaaS) is a cloud-based firewall solution that enables companies to streamline their IT infrastructure. FWaaS filters network traffic to protect organizations from threats originating both internally and externally.
Firewall-As-A-Service Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global firewall-as-a-service market report covering trends, opportunities, strategies, and more
The Firewall-As-A-Service Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on firewall-as-a-service market size, firewall-as-a-service market drivers and trends, firewall-as-a-service market major players and firewall-as-a-service market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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