Firewall as a Service Market 2019: Company Profiles, Global Trends, Industry Segments, Landscape and Demand by Forecast to 2023

Firewall as a Service Market, By Solution (Advanced Threat Protection, Next Generation Firewall, Traffic Control & Monitoring, Managed Services), by Service Model, Deployment Model, Organizational size, Verticals, and by Region- Forecast till 2023

Market Scenario:
The global firewall as a service market is predicted to garner USD 1.98 billion, grabbing a CAGR of 23.01% during the forecast period (2017-2023) owing to the rising need to secure organization network against unprecedented crimes, asserts Market Research Future (MRFR).

Firewall as a Service Market is considered a revolutionary way of delivering firewall along with other network security capabilities as a cloud service. It is a new type of next-generation firewall which eliminates the appliance form factor, thereby making firewall services available everywhere.

Competitive Dashboard
The prominent players operating the global firewall as a service market are Sophos (UK), Cato Networks (Israel), Barracuda Networks (US), Sangfor Technologies (China), Hillstone Network (US), Juniper Networks (US), Check Point Software Technologies (Israel), Cisco Systems (US), Palo Alto Networks (US), Zscaler (US), Forcepoint (US), WatchGuard (US), H3C (China), and Fortinet (US).

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Drivers and Constraints Impacting the Market:
With cyber attacks becoming a global concern, the rise of cyber theft in the past few years have plagued the industry. As adoption of bring your own device (BYOD), connected devices, and digital payments has increased, it has resulted in data breaches and hacking of devices. Such factors have led to the increased adoption of several firewall services. Traditional firewalls are incorporated on each server which controls all incoming and outgoing network traffic. Firewall as a service works in a similar way, but the service is hosted on the cloud, which signifies that it is available on any device and at all locations. Additional factors gearing up the market are the augmenting need to secure the organization network against unprecedented and unauthorized crimes coupled with the simplified installation of the firewall for distributed networks. Moreover, the rapid increase of cyber attacks, upgradation, and alteration of firewall protocols, the proliferation of next-generation firewall, and reduced operational cost are propelling the market growth throughout the appraisal period.

On the flip side, lack of technical expertise in order to manage the advanced firewall mechanism is considered to impede the market growth. Additionally, the lack of governance and robust network infrastructure is another major concern predicted to dampen the market growth throughout the appraisal period.

Firewall as a Service Market Segmental Analysis:
The global firewall as a service market has been segmented on the basis of solution, services model, deployment model, organizational size, and verticals.
• By mode of solution, the global firewall as a service market has been segmented into traffic control and monitoring, advanced threat protection, network security, next-generation firewall, managed services, identity management, and others.
• By mode of services model, the global firewall as a service market has been segmented into infrastructure as a service (IaaS), software as a service (SaaS), and platform as a service (PaaS).
• By mode of deployment model, the global firewall as a service market has been segmented into private, public, and hybrid cloud. The hybrid cloud model is likely to gain the highest traction in the market as it offers more control, cost-efficiency, reduced risks, and better performance. It also offers a combination of private and public cloud features like cost-effectiveness and versatility of public cloud, and a greater security and control of the private cloud.
• By mode of organizational size, the global firewall as a service market has been segmented into small & medium sized enterprise and large enterprise.
• By mode of verticals, the global firewall as a service market has been segmented into education, BFSI, government, energy & utilities, manufacturing, healthcare, IT & telecom, retail, and others.

Regional Insights:
Geographically, the firewall as a service market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).

Among all the regions, the North American region is considered to dominate the global market and is likely to retain its dominance throughout the appraisal period. The growth in this market is credited to the increasing investment in cybersecurity companies by the corporate investors. With rising initiatives by the government in order to enhance customer information’s security coupled with the augmenting need to prevent cyber-attacks, the market in this region is estimated to propel. For instance, the U.S. Department of Commerce along with the U.S. Department of Homeland Security, on January 5, 2017, had released an executive order to strengthen the cybersecurity of Federal Networks and Critical Infrastructure. Their mission aimed to protecting cyberspace infrastructure and information, building capabilities to respond and prevent cyber attacks. Additionally, the presence of well-established organizations investing in R&D activities is also heavily investing in the development of security technology which is further contributing to the market growth.

The Asia Pacific region is likely to exhibit a significant growth rate owing to the rapid digitalization, increased adoption of cloud services, and the presence of SME’s and large enterprises. This region also aims to be the fastest growing market owing to the heavy investment in the cloud infrastructure.

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Industry Updates:
January 30, 2019: An industry expert and a leader in cloud communications in both Hosted Voice Service as well as SIP Trunking, nexVortex have recently announced the availability of cloud-managed firewall on their nexVortex Edge device (NVE).

Intended Audience:
• 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

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

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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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Name: Abhishek Sawant
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Release ID: 480423