Published by Wanda Rich
Posted on September 23, 2021
The increasing need of securing communication paths from unlawful access and information misuse and maintenaning network safety between the external network and the inner network to safeguard the company from fraud and data violations is helping the market to expand and grow.
The surge in demand for network security and privacy and the rise in the number of cyber-based attacks and frauds drive the growth of the global network security firewall market. However, high installation and maintenance costs and complex demands regarding infrastructure and hardware hinder the market growth. On the other hand, an increase in awareness about data security and privacy presents new opportunities in the coming years.
The global network security firewall market generated $3.48 billion in 2020 and is estimated to generate $24.34 billion by 2030, witnessing a CAGR of 21.6% from 2020 to 2030.
Based on region, North America held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global network security firewall market, and is expected to maintain its dominance by 2030. This is due to rapid advancements in mobile security technologies and huge investments in data security with rising in cyber-attacks. However, Asia-Pacific is projected to witness the fastest CAGR of 23.3% during the forecast period, owing to the rapid advancements in mobile security technologies and several government initiations toward digitalization in developing countries.
Based on deployment type, the on-premise segment accounted for the largest share in 2020, contributing to more than half of the global network security firewall market, and is projected to maintain its lead position during the forecast period. This is due to advancements in on-premise technologies and adoption of new IoT-based techniques and competition among SMEs. However, the cloud segment is expected to portray the largest CAGR of 23.6% from 2021 to 2030, owing to cost efficiency, the importance of cybersecurity, and the highly automated nature of cloud security.
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Based on component, the solution segment held the highest market share in 2020, accounting for nearly three-fourths of the global network security firewall market, and is estimated to maintain its leadership status throughout the forecast period. This is due to the widespread use of detection and threats such as malware or malicious processes that lower the performance of the hypervisor. However, the services segment is projected to manifest the highest CAGR of 22.6% from 2021 to 2030, owing to increased demand for network security and privacy, advances in digital transformation in the telecommunications industry, real-time analysis, and management regulations.
Profiling Key Players: Adaptive Mobile, Amd Telecom, Anam, Cellusys, Mobileum, Netnumber, Orange, Openmind Networks, Sap Se, and Sinch.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
The increasing need of securing communication paths from unlawful access and information misuse and maintenaning network safety between the external network and the inner network to safeguard the company from fraud and data violations is helping the market to expand and grow.
The surge in demand for network security and privacy and the rise in the number of cyber-based attacks and frauds drive the growth of the global network security firewall market. However, high installation and maintenance costs and complex demands regarding infrastructure and hardware hinder the market growth. On the other hand, an increase in awareness about data security and privacy presents new opportunities in the coming years.
The global network security firewall market generated $3.48 billion in 2020 and is estimated to generate $24.34 billion by 2030, witnessing a CAGR of 21.6% from 2020 to 2030.
Based on region, North America held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global network security firewall market, and is expected to maintain its dominance by 2030. This is due to rapid advancements in mobile security technologies and huge investments in data security with rising in cyber-attacks. However, Asia-Pacific is projected to witness the fastest CAGR of 23.3% during the forecast period, owing to the rapid advancements in mobile security technologies and several government initiations toward digitalization in developing countries.
Based on deployment type, the on-premise segment accounted for the largest share in 2020, contributing to more than half of the global network security firewall market, and is projected to maintain its lead position during the forecast period. This is due to advancements in on-premise technologies and adoption of new IoT-based techniques and competition among SMEs. However, the cloud segment is expected to portray the largest CAGR of 23.6% from 2021 to 2030, owing to cost efficiency, the importance of cybersecurity, and the highly automated nature of cloud security.
Download Sample Report (Get Full Insights in PDF – 326 Pages) at:
https://www.alliedmarketresearch.com/request-sample/12857
Based on component, the solution segment held the highest market share in 2020, accounting for nearly three-fourths of the global network security firewall market, and is estimated to maintain its leadership status throughout the forecast period. This is due to the widespread use of detection and threats such as malware or malicious processes that lower the performance of the hypervisor. However, the services segment is projected to manifest the highest CAGR of 22.6% from 2021 to 2030, owing to increased demand for network security and privacy, advances in digital transformation in the telecommunications industry, real-time analysis, and management regulations.
Profiling Key Players: Adaptive Mobile, Amd Telecom, Anam, Cellusys, Mobileum, Netnumber, Orange, Openmind Networks, Sap Se, and Sinch.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/12857
Covid-19 Scenario
Thanks for reading this article; you can also get an individual chapter-wise section or region wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Similar Reports –
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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