Enterprise Firewall Market Size

Enterprise Firewall Market Analysis

The enterprise firewall market is expected to grow at a CAGR of 9.8% over the forecast period. In the current market scenario, used enterprise firewalls have lost their viability because traditional systems cannot handle the high level of threats posed by modern hacking methods.

• Enterprise firewalls are the basic units of network security. They examine the flow of inbound and outbound data packets in an enterprise network against a set of predefined values to detect any malicious activity in the network.
• The ongoing secular trend of increasing network capacity, specialization for 5G core, operational technology (OT), and IoT security, and the evolution of malware and threat detection are driving demand for the firewall market.
• With the rise of cloud technology, firewalls are now being put in place. These firewalls offer a bundled solution that makes sure a firewall is available on any device, handles any traffic load, and makes sure the same policies are followed across the organization.
• The cost factor is the major restraining factor for enterprise firewalls and their users. Acquiring firewalls can be costly for organizations. The cost varies according to the type of firewall an organization wants to deploy. Hardware firewalls will cost more than software firewalls due to their installation and maintenance charges.
• COVID-19 accelerated the adoption of cloud infrastructure and services, which made businesses shift to cloud-based firewalls and firewall-as-a-service. During the pandemic, many companies had to let people work from home. This increased the need for strong security solutions.