Demand for Firewall Expected to See Rapid Growth
Elements such as the growing need to fortify the enterprise network against unauthorised and unprecedented attacks, centralized policy management and simplified installation of firewalls for distributed enterprise networks, and elimination of the upfront investment cost are forecast to steer the Firewall as a Service market increase. In computing, a firewall is software or firmware that enforces a set of rules about what data packets will be allowed to enter or leave a network. Firewalls are incorporated into a wide variety of networked devices to filter traffic and lower the risk that malicious packets traveling over the public internet can impact the security of a private network. Firewalls may also be purchased as stand-alone software applications.
The Firewall as a Service Market is expected to grow from USD$0.56 billion to a whopping USD$1.70 billion by the year 2022. This is based on a Compound Annual Growth Rate (CAGR) of 24.9 per cent during the forecast period, revealed a new market research report “Firewall as a Service Market by Service Type (Traffic Monitoring and Control, Compliance and Audit Management, and Automation and Orchestration), Service Model, Deployment Model, Organizational Size, Vertical, and Region – Global Forecast to 2022”, published by MarketsandMarket. According to the report, various factors influenced the demand for FWaaS. These include the increasing need to fortify the enterprise network against unauthorized and unprecedented strikes, centralized policy management and simplified installation of firewalls for distributed enterprise networks, elimination of the upfront investment cost, rapid upgradation of and alteration to firewall protocols, proliferation of Next-Generation Firewalls (NGFWs), and seamless scalability and reduced operational cost.
Security Management the Largest Market Size in 2017
The security management segment is estimated to have the largest market size in 2017 and is expected to continue its dominance during the forecast period. The major factors driving the growth of this segment include reduced cost of maintaining firewalls, increasing demand for security offerings, instant upgradation of and rectification to firewall protocols, automated compliance gap analysis, and easy deployment of FWaaS. During the forecast period, the hybrid cloud deployment model is expected to gain the highest traction in the FWaaS market. Apart from providing more control, reduced risks, cost-efficiency, and better performance, it also provides an ideal combination of public cloud and private cloud features, such as the versatility and cost-effectiveness of the public cloud, and greater control and security of the private cloud.
North America expected to contribute the largest market share.
During the forecast period, North America is tipped to have the largest market share and dominate the Firewall as a Service Market. The major growth drivers for this region are the increasing need to prevent cyber threats, growing adoption of cloud services, better security compliant offerings by vendors, and need for enhanced control and visibility mechanisms. The major vendors providing FWaaS solutions and services are Barracuda Networks (US), Cato Networks (Israel), Check Point Software Technologies (Israel), Cisco Systems (US), Forcepoint (US), Fortinet (US), Juniper Networks (US), Palo Alto Networks (US), WatchGuard (US), and Zscaler (US). Asia-Pacific, meanwhile, is forecasted to be the fastest growing area in terms of Compound annual growth rate. Increasing awareness about the benefits of cloud services, profits provided by the pay-as-you-go model, rised cloud initiatives by governments, and digital transformation within companies are some of the top reasons that have led APAC to become a highly potential market.