Firewall-as-a-Service Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Firewall-as-a-Service Market Analysis
Firewall-as-a-Service (FWaaS) market is anticipated to witness a CAGR of 22.0% over the forecast period .
- Cloud-based firewall services offer several benefits to organizations, including flexible scalability, secure access parity, security over migration, identity protection, and secure performance management. As a result, many organizations are implementing firewall-as-a-service to manage their data packets in the cloud network.
- Hardware-based security options are becoming less common, and the implementation of more software-based solutions that use a service delivery paradigm has increased due to widespread cloud adoption. Over the past five years, these changes have accelerated the uptake of FWaaS solutions and other network and security services, bringing about more scalable and user-friendly security solutions.
- The enormous growth in cloud-based applications, the surge in data breaches in the public cloud environment, and ever-changing firewall protocols for business organizations are major factors influencing growth for the firewall-as-a-service in the global market. However, the complexity of integrating hosted firewalls with on-premise firewalls and inadequate IT infrastructures in underdeveloped nations are obstructing market growth.
- Firewall-as-a-service has found a place in various industries such as BFSI, government, IT & telecom, healthcare, retail, manufacturing, aerospace & defense, energy & utilities, and others, offering an advanced cloud-based network security solution for enterprises. As traffic increases exponentially over the cloud network, organizations have adopted security solutions like firewalls and endpoint security to protect their data on their respective cloud network.
- The impact of Covid-19 led to a rise in work-from-home and cloud adoption. The majority of IT employees' to-do lists will be dominated by providing remote access. According to Global Workplace Analytics, up to 30% of the workforce could be working from home multiple days per week by the end of the year. More than half (54%) of a Cybersecurity Insiders survey respondents said Covid-19 increased their cloud adoption for workflows and apps. Furthermore, about 66% of respondents anticipate increased security threats to remote workers. No matter where the users are located while working, firewalls must safeguard the organization's networks.
Firewall-as-a-Service Industry Segmentation
Firewall-as-a-Service is the cloud-based firewall protection service provided by vendors. On the basis of deployment, FWaaS can offer firewall protection service to the IT infrastructure placed in hosted, on-premise and hybrid environments as well. The recent, next-generation FWaaS can protect an organization’s servers on a platform-as-a-service (PaaS) or infrastructure-as-a-service (IaaS) model by securing in and out traffic between hosted or cloud-based applications.
The Firewall-as-a-Service market is segmented by service model (SaaS, IaaS, PaaS), deployment model (private, public, hybrid), user type (large enterprises, SMEs), industry vertical (BFSI, IT & telecom, retail, manufacturing, aerospace & defense), and geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
|By Service Model|
|By Deployment Model|
|By User Type|
|By Industry Vertical|
|IT & Telecom|
|Aerospace & Defence|
|Other Industry Verticals|
|Middle-East & Africa|
Firewall-as-a-Service Market Trends
Data Breaches on Public Cloud Environment will Influence the Market Demand
- As organizations continue to move their operations to cloud environments, data protection, and security breaches have become major concerns across various industries, including financial services, government organizations, healthcare institutions, retail, defense, IT & telecom, and others.
- A report by RedLock Inc. reveals that nearly half (49%) of all databases worldwide are not encrypted, leaving them vulnerable to potential cyber-attacks. Additionally, over half (51%) of organizations are exposed to cloud storage services, increasing the risk of attacks on applications running in hosted environments.
- Furthermore, the shift from traditional IT infrastructure to cloud environments has resulted in a rapid increase in endpoints, necessitating advanced firewall protection services that are specific to cloud platforms.
- Vendors in the market are responding to this demand by offering enhanced versions of firewall-as-a-service (FWaaS) solutions with SSL offloading, content caching, and load balancing to ensure the smooth processing of applications. Developed countries worldwide are adopting FWaaS as a necessary service to protect their cloud environments and improve overall business functions.
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Asia-Pacific will Showcase Maximum Growth Rate
- The Asia-Pacific region is currently experiencing the fastest adoption of firewall-as-a-service, with both large and small enterprises adopting this technology. A variety of stakeholders, including government agencies, solution providers, platform providers, integrators, and end-users, are partnering with security service providers to safeguard their cloud environment and network security in this region. Global vendors, such as Zscaler, Inc. and NTT Communications Corporation in Japan, are making aggressive moves to capture potential markets in Asia-Pacific.
- In India, the National Critical Information Infrastructure Protection Center (NCIIPC) was established under the Information Technology Act of 2000 to address critical information infrastructure (CII). CII is defined as "computer resource, the incapacitating or destruction of which shall have a debilitating effect on national security, economy, public health, or safety."
- Asia-Pacific is an ideal region for cybercrime due to its expanding digital connectivity, rising cross-border data interfaces, weak regulations, and low cybersecurity awareness. According to Microsoft Corporation, large enterprises in the Asia-Pacific region incur losses over 300 times greater than mid-sized enterprises regarding cybersecurity-related issues. Additionally, data breaches cost over USD 1 million 47% of the time in the APAC region, according to a survey conducted by Cisco Systems Inc. in 2018. APAC also generates 5% more daily security alerts than the global average in the category of 100,001-150,000 alerts. Therefore, cloud security vendors are expected to have significant opportunities in the Asia-Pacific region in the coming years.
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Firewall-as-a-Service Industry Overview
As of October 2022, the market for Firewall-as-a-Service is expected to be consolidated in nature, with very few players dominating the market with their technological expertise. Some of the major players in the market include Barracuda Networks, Inc., Cato Networks, Check Point Software Technologies, Inc., Cisco Systems, Inc., Forcepoint, Fortinet, Inc., IntraSystems, Juniper Networks, Inc., Microsoft Corporation, OPAQ, Sprout Technologies Ltd, Vocus Communications, and Zscaler, Inc. To maintain their key position in this competitive market, all these players are involved in several strategic development initiatives such as partnerships, new product development, market expansions, and others.
In April 2022, Fortinet, a pioneer in comprehensive, integrated, and automated cybersecurity solutions, released FortiOS 7.2, the most recent update to its flagship operating system and the base of the Fortinet Security Fabric. The new update includes more than 300 new features that improve Fortinet's ability to converge security at every network interface with the speed and scale necessary to identify and stop threats across an organization's entire infrastructure.
In October 2022, McAfee Corp., a leader in online security, introduced McAfee+ in the UK. This new product line includes all-new privacy and identity protections that let users live their lives online with confidence and security. The new McAfee+ product suite, which first debuted in the US, is now accessible in the UK and gives users access to extensive Personal Data Cleanup services, identity recovery assistance, lost wallet assistance, and the ability to secure all of their devices with world-class defense against threats.
Firewall-as-a-Service Market Leaders
Barracuda Networks, Inc.
Check Point Software Technologies, Inc.
Cisco Systems, Inc.
Juniper Networks, Inc.
*Disclaimer: Major Players sorted in no particular order
Firewall-as-a-Service Market News
- March 2022: Palo Alto Networks partnered with Amazon Web Services (AWS) to introduce the new Palo Alto Networks Cloud NGFW for AWS. This managed Next-Generation Firewall (NGFW) service aims to simplify securing AWS deployments, allowing businesses to innovate more quickly while maintaining high security. Palo Alto Networks is a 10-time market leader in network firewalls, and this new solution is expected to enhance its portfolio of cloud security offerings.
- February 2022: Juniper Networks unveiled Juniper Secure Edge, the newest component of its Secure Access Service Edge (SASE) design. This solution enables businesses to secure workforces regardless of their location. Juniper Secure Edge provides Firewall-as-a-Service (FWaaS) as a single-stack software architecture managed by Security Director Cloud. As a pioneer in secure, AI-powered networks, Juniper Networks is expected to leverage its expertise in this area to offer an innovative and secure solution for businesses seeking to protect their remote workforces.
Firewall as a Service Market Report - Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Enormous Growth in Cloud Based Applications
4.3.2 Surge in Data Breaches on Public Cloud Environment
4.3.3 Everchanging Firewall Protocols for Business Organisations
4.4 Market Restraints
4.4.1 Complexity in Integrating Hosted Firewalls with On-premise Firewalls
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Service Model
5.2 By Deployment Model
5.3 By User Type
5.3.1 Large Enterprises
5.4 By Industry Vertical
5.4.2 IT & Telecom
5.4.5 Aerospace & Defence
5.4.6 Other Industry Verticals
5.5.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.5.4 Latin America
184.108.40.206 Rest of Latin America
5.5.5 Middle-East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Barracuda Networks, Inc.
6.1.2 Cato Networks
6.1.3 Check Point Software Technologies, Inc.
6.1.4 Cisco Systems, Inc.
6.1.6 Fortinet, Inc.
6.1.8 Juniper Networks, Inc.
6.1.9 Microsoft Corporation
6.1.10 Sprout Technologies Ltd
6.1.11 Vocus Communications
6.1.12 Zscaler, Inc.
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Firewall as a Service Market Research FAQs
What is the study period of this market?
The Firewall-as-a-Service Market is studied from 2018 - 2028.
What is the growth rate of Firewall-as-a-Service Market?
The Firewall-as-a-Service Market is growing at a CAGR of 22% over the next 5 years.
Which region has highest growth rate in Firewall-as-a-Service Market?
Asia Pacific is growing at the highest CAGR over 2021 - 2026.
Which region has largest share in Firewall-as-a-Service Market?
North America holds highest share in 2022.
Who are the key players in Firewall-as-a-Service Market?
Barracuda Networks, Inc., Check Point Software Technologies, Inc., Cisco Systems, Inc., Juniper Networks, Inc., Microsoft Corporation are the major companies operating in Firewall-as-a-Service Market.
Firewall-as-a-Service Industry Report
Statistics for the 2023 Firewall-as-a-Service market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Firewall-as-a-Service analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.