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.
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The changing cybersecurity landscape emphasizes regulatory compliance for enterprises, making Next-Generation Firewalls (NGFWs) crucial in meeting stringent data protection laws globally, like GDPR and CCPA. NGFW providers such as Palo Alto Networks and Fortinet integrate features like application control and intrusion prevention to enhance security.
As IoT and BYOD trends grow, NGFWs become pivotal in addressing network security challenges, providing deep inspection and protection in industrial settings. The global shift to remote work raises demand for advanced security solutions, with NGFWs playing a vital role in ensuring secure remote access amidst increased cyber threats.
What is the next generation firewall?
Cisco states, “A next-generation firewall (NGFW) is a network security device that provides capabilities beyond a traditional, stateful firewall. While a traditional firewall typically provides stateful inspection of incoming and outgoing network traffic, a next-generation firewall includes additional features like application awareness and control, integrated intrusion prevention, and cloud-delivered threat intelligence.”
Competitive overview:
The next-generation firewall market is led by some of the globally established players, such as Palo Alto Networks (US), Cisco (US), Fortinet (US), Check Point (Israel), Juniper Networks (US), Barracuda Networks (US), SonicWall (US), Zscaler (US), Forcepoint (US), and Hillstone Networks (US). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies these players use to increase their market presence.
Palo Alto Networks (US), a leading global cybersecurity company, is at the forefront of innovative technologies, dedicated to securing enterprise users, networks, clouds, and endpoints in the evolving digital landscape. Leveraging AI and automation, the company focuses on network security, cloud security, security operations, and threat intelligence, delivering comprehensive zero-trust solutions and cloud-native security through Prisma Cloud. The NGFWs portfolio includes hardware, container, and cloud/virtual NGFWs, along with the Cloud Native Application Protection Platform (CNAPP). Palo Alto Networks extends its services to Threat Intelligence, Incident Response, and Global Customer Services, catering to diverse industries worldwide, positioning itself as a trusted cybersecurity partner for medium to large enterprises, service providers, and government entities across North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America.
Cisco (US), a global technology leader, has played a pivotal role in shaping the Internet since its founding in 1984 by computer scientists from Stanford University. Renowned for its commitment to innovation, Cisco has been a driving force in developing Internet Protocol (IP)-based networking technologies. The company's diverse product portfolio covers routing, switching, unified communications, network security, video, virtualization, and cloud computing. In the Next-Generation Firewall (NGFW) category, Cisco offers a comprehensive lineup tailored to businesses of various sizes and industries, including secure firewalls for cloud environments and rugged industrial settings. With a global presence across the Americas, Europe, Middle East, Africa, and Asia Pacific, Cisco serves a wide range of industries, providing extensive services from advisory and support to managed and learning services, empowering organizations in the digital era.
In addition to the prominent vendors, some other key players, such as Versa Networks (US), NordLayer (US), Cato Networks (Israel), CrowdStrike (US), Trend Micro (Japan), Huawei (China), Sophos (UK), Atrity (India), Easi (Belgium), Zyxel Networks (India), Nomios (Netherlands), WatchGuard (US), Sangfor (China), GajShield (India), and H3C (China) are also evolving in the next generation firewall market.
According to MnM’s approach to evaluating the market, most businesses use inorganic growth tactics to hold onto their market share. These agreements cover alliances, acquisitions, collaborations, and partnerships together. Product launches and corporate growth activities are abruptly affected by factors such as government regulations. On the other hand, organizations are anticipated to embrace organic growth strategies to provide end consumers with next-generation firewall software and professional services, which would assist businesses in boosting market revenue.
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