Market Size of Network Security Firewall Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 13.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Network Security Firewall Market Analysis
The network security firewall market is expected to grow at a CAGR of 13% during the forecast period 2022 - 2027. The growth of the network security firewall market is driven by several factors, such as increased demand for network security & privacy, advancement of digital transformation in the telecommunication industry, real-time streaming analysis, and administrative regulations encouraging demand for network security firewalls
- Owing to the numerous advantages of a firewall in a network, especially the easy installation and the high speed are fuelling the market growth. Additionally, implementing a firewall for a network is also much less costly than having to secure each computer individually. However, the lack of preventive firewall maintenance infrastructure and poor hardware and system compatibility are a few major factors hindering the market growth.
- The increasing need to secure communication paths from unlawful access and information misuse and maintain network safety between the external and internal networks to safeguard the company from fraud and data violations is helping the market expand and grow.
- The rapid use of web applications, rapid adoption of cloud technologies, and the increasing demand for security services to mitigate the risk of cyberattacks are also driving the growth of the network security firewall market. To protect the data & information from security breaches and cyber-attacks, the implementation of network security firewalls is growing across various end-use enterprises. Consequently, driving the growth of the overall network security firewalls market.
- Due to the coronavirus (Covid-19) pandemic, on one side, there is shutting down major parts of the global economy. On the other side, there are those with nefarious ends who are trying to take advantage of chaos and uncertainty and are evolving scams and phishing techniques which is a big threat to everyone globally.
- Google recently reported that in just one week, from 6 to 13 April, it saw more than 18 million daily malware and phishing emails related to Covid-19 scams, and that's in addition to the 240 million daily spam messages it saw related to coronavirus. Due to the rise in such activities network security firewall market is likely to grow as the firewall is a critical security component for connections that are always on, and organizations need network firewalls to protect network infrastructure.
