Increasing need for information security in today’s internet world is expected to be a key driver for the enterprise firewall market. Enterprise firewall solutions are essential to protect organizations from potential cyber threats. These solutions are continuously evolving over the years to conquer past deficiencies and challenges. Critical information travels through communication networks of organizations and firewall solutions guard it against external and internal threats.
Rising demand for dedicated networks offering additional functions is also expected to fuel market growth over the forecast period. Additionally, multiple functionalities and benefits of Next Generation Firewall (NGFW) systems such as centralized data management, user identification, web & deep packet filtering, enhanced, and application control is further expected to drive the enterprise firewall market. High adaptation of new technologies such as mobilization of work force and cloud computing etc has increased the demand for refined security solutions.
Rising demand for cloud-based solutions owing to its real-time and cost-effective solutions are expected to favor the overall market. Low market penetration in small and medium organizations is expected to provide new opportunities for market growth. The enterprise firewall market can be segmented on the basis of product, deployment methods, industry verticals, organization size, and services. Deployment methods consist of cloud-based and physical deployment. Cloud-based deployment is expected to be the key method over the forecast period. Organization size includes small, medium and large enterprises. Industry vertical may include government & public utilities, healthcare, telecommunication, education, retail, entertainment & media, manufacturing, education and BFSI.
Product differentiation and innovation are expected to be the key success factor for market participants over the next six years. Some key player in the enterprise firewall market includes Palo Alto, Imperva, Sophos, Zoho Corp, CheckPoint technologies, Dell, Cisco, Microsoft, McAfee, and Juniper Networks.
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Amidst the COVID-19 crisis, the network security industry is poised for sustainable growth despite the foreseeable economic turbulence. Implementation of remote working policy, due to lockdown is putting unanticipated stress on remote networking technologies and causing operational technology (OT) security risk concerns over the vulnerable home network security. Furthermore, as digital infrastructure becomes a critical aspect of business strategic considerations, network security will become a competitive differentiator for businesses and overhaul their remote working strategies. We are incessantly monitoring the market dynamics and regulations while continuously assessing the impact of Covid-19 with the aim of providing you with actionable market insights. The report will account for Covid19 as a key market contributor.
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