Firewall-as-a-Service Market Statistics: 2027

Firewall-as-a-Service (FWaaS) is a cloud-based service that delivers firewall solutions. It represents a new and innovative way of delivering network security capabilities as a cloud service. Many businesses have deployed next generation firewalls in accordance to reduce security software costs. In addition, many other factors differ between physical and virtual firewall services, such as deployed cloud or in on-premises, hence many businesses prefer cloud-based firewall. Distributed locations require dedicated firewall solutions that have to be scaled and enhanced to accommodate business growth. Compared to traditional firewalls, FWaaS improves scalability, provides a unified security policy, enhances visibility, and streamlines management. 

Market scope and structure analysis:

COVID-19 Scenario Analysis:

• Presently, many employees are working from home and students are learning virtually, hence enterprise virtual private network (VPN) servers have now become a lifeline for companies/schools and their security and availability would be a major focus going forward. There is a possibility that an organization’s unpreparedness can lead to security misconfiguration in VPNs. This, in turn, could expose sensitive information on the internet and devices to Denial of Service (DoS) attacks. In addition, some users utilize personal computers to perform official duties, which could also pose a great amount of risk to organizations.
• Working of many security teams is expected to be reduced due to the COVID-19 pandemic, which makes detection of malicious activities difficult and responding to these activities even more complicated. Revising patches on systems may also be a challenge if security teams are not operational.
• Organizations may not effectively detect cyber-attacks as security teams are short staffed or repurposed to support other activities, leaving security alerts uninvestigated. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Rise in need to safeguard enterprise network against unprecedented and unauthorized strikes, coupled with growth in need to centralize policy management and simplify installation for distributed enterprise networks are major factors that drive the firewall-as-a-service market growth. Moreover, businesses are inclining toward FWaaS to eliminate the upfront investment cost on physical security solutions. Some other factors that influence the market growth include rise in need for rapid upgradation and alteration to firewall protocols, owing to rise in sophisticated cyber-attacks, coupled with proliferation of next generation firewall , owing to its ability to seamless scale and reduce operational cost. However, limited technical expertise for handling advance firewall mechanism can hamper growth of the market. Contrarily, higher demand for cloud-based firewalls among SMEs and high demand for FWaaS offerings in the BFSI sector are opportunistic factors for the global firewall-as-a-service market.

Elimination of the upfront investment costs

To offer businesses with protections against sophisticated threats, need for advance security framework to deploy multiple firewall appliances is a necessity. These appliances can include an Intrusion Prevention System (IPS), content-filtering systems, and threat prevention applications. Networks that utilize more security capabilities can burden organizations with additional cost for management, monitoring, and maintenance as a supplement to purchase and set up of an equipment or service, or support. Thus, adoption of FWaaS help to reduce investment costs and boost the firewall-as-a-service market growth.

Firewall-as-a-service helps in reducing these complexities and unifying security administration at a great cost reduction. If a firm acquires next generation firewall technology that is run by IT professionals on a monthly subscription basis, there is a lack of capital investments regarding equipment and costs linked to this kind of security. According to a study carried out by Secure Data, a company with 500 workers, firewall can reduce its expenses by 37% and save an average of $139,000 per year. 

Limited technical expertise

In an era when cyber risks are increasing at a faster rate than at any time in history, organizations around the globe are struggling to find talented professionals who can help them defend against these risks. According to the most recent Cybersecurity Workforce Study from (ISC)2, world's biggest nonprofit association dedicated to IT security, there is currently a massive cybersecurity workforce shortage on a global basis. Around the world, there are currently 2.8 million cybersecurity professionals. Unfortunately, it would take a 145% rise in the number of these professionals to fill the current expected need for 4.07 million cybersecurity experts.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global firewall-as-a-service industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the firewall-as-a-service market share.
• The current firewall-as-a-service market is quantitatively analyzed from 2020 to 2027 to highlight the global firewall-as-a-service market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the firewall-as-a-service market. 
• The report provides a detailed firewall-as-a-service market analysis based on the present and future competitive intensity of the market.