Global Firewall as a Service Market is expected to reach ~1.98 billion, growing with a CAGR of ~23.01% in the forecast period
— Firewall as a Service Market Highlights:
The global firewall as a service market is expected to grow to a valuation of USD 1.98 billion over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global firewall as a service market is mainly driven by the growing awareness about the services, as traditional firewall architecture still dominates the competitive landscape. The global firewall as a service market is expected to exhibit a robust 23.01% CAGR over the forecast period.
Firewall as a Service Market is a managed service providing firewall services managed on the cloud. This provides access to the firewall services at any location and on any device. The growing adoption of Bring Your Own Device practices in the corporate sector is likely to drive the demand for firewall as a service, as the use of multiple remotely operated devices increases the risk of online penetration and data theft. In addition, the growing use of digital billing processes is also likely to be a major driver for the global firewall as a service market. The growing use of mobile apps and other digital media to make online payments is likely to drive the global firewall as a service market over the forecast period.
On the other hand, the lack of technical expertise to install and handle firewall as a service is likely to hold the market back in emerging economies.
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Leading players in the global firewall as a service market include Hillstone Network, H3C, Sangfor Technologies, Sophos, Palo Alto Networks, Zscaler, WatchGuard, Juniper Networks, Forcepoint, Fortinet, Cisco Systems, Cato Networks, Check Point Software Technologies, and Barracuda Networks.
Leading players in the global firewall as a service market are likely to engage in progressive product development over the forecast period, as the development of low-cost firewall as a service systems that are easy to handle is likely to hand companies a major edge.
In May 2019, VirtualArmour International Inc. bagged a new contract for cybersecurity services from a leading gemological organization. The new contract covers services for 18 research centers around the world and is valued at USD 98,000.
In an effort to increase awareness about firewall as a service, OPAQ and Equinix will collaborate to present a demonstration at Palo Alto Ignite ’19 in June 2019. Such efforts are likely to be important for the global firewall as a service market over the forecast period, as the low awareness among leading industry players about firewall as a service is a key restraint on the market.
• By solution, the global firewall as a service market is segmented into advanced threat protection, traffic control and monitoring, next-generation firewall, network security, identity management, managed services, and others.
• By service model, the global firewall as a service market is segmented into software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS).
• By deployment model, the firewall as a service market is segmented into public, private, and hybrid cloud.
• By organization size, the market is segmented into small & medium sized enterprises and large enterprises.
• By vertical, the market is divided into BFSI, education, energy & utilities, government, healthcare, manufacturing, retail, IT & telecom, and others.
North America is expected to dominate the global firewall as a service market over the forecast period, followed by Europe. The growing adoption of cloud services and the early installation of cloud infrastructure in the region are likely to be the major drivers for the firewall as a service market in North America over the forecast period. The growing threat of online theft or other intrusions in North America is also likely to be a key driver for the global firewall as a service market. Europe is likely to follow North America in second place.
Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the growing government support to public cloud initiatives. The increasing threat of cybercrimes in Asia Pacific is also likely to be major driver for the firewall as a service market in the region over the forecast period.
• IT Security Engineers
• IT Network Engineers
• Technical Vendors
• Government agencies
• Network solution providers
• Independent software vendors
• Research organizations and consulting firms
• System integrators
• Information Technology (IT) security agencies
• Managed Security Service Providers (MSSPs)
• Research organizations and consulting companies
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
List of Tables
Table 1 Firewall as a Service Market: By Region, 2018-2023
Table 2 North America Firewall as a Service Market: By Country, 2018-2023
Table 3 Europe Firewall as a Service Market: By Country, 2018-2023
List of Figures
Figure 1 Global Firewall as a Service Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Global Firewall as a Service Market
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