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Firewall-as-a-Service Market by Service Type (Traffic Monitoring & Control, Compliance & Audit Management, Reporting & Log Management, Security Management, Managed Services, Professional Services, and Others), Service Mode (Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS)), Deployment Model (Hybrid Cloud, Public Cloud, and Private Cloud), Organization Size (Small & Medium-Sized Enterprises (SMEs) and Large Enterprises), and Industry Vertical (BFSI, IT & Telecom, Retail & Ecommerce, Manufacturing, Government & Defense, Education, Energy & Utilities, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A07978
Pages: NA
Feb 2021 | 154 Views
 
Author(s) : NA
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Charts: NA
 

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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. 

Firewall-as-a-Service Market

Market scope and structure analysis:

               Report Metric

                                      Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

Service Type, Service Mode, Deployment Model, Organization Size, Industry Vertical, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of LATAM) and Middle East and Africa

  Companies covered

Major players analyzed include Barracuda Networks Inc., Cato Networks Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Forcepoint LLC, Fortinet Inc., Juniper Networks Inc., Palo Alto Networks Inc., Watch Guard Technologies, and Zscaler Inc.,

 

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:

               Segments 

                                        Subsegments

  Service Type

  • Traffic Monitoring & Control
  • Compliance & Audit Management
  • Reporting & Log Management
  • Security Management
  • Managed Services
  • Professional Services
  • Others

  Service Mode

  • Infrastructure-as-a-Service (IaaS)
  • Platform-as-a-Service (PaaS)
  • Software-as-a-Service (SaaS)

  Deployment Model

  • Hybrid Cloud
  • Public Cloud
  • Private Cloud

  Organization Size

  • Small & Medium-sized Enterprises (SMEs)
  • Large Enterprises

  Industry Vertical

  • BFSI
  • IT & Telecom
  • Retail & Ecommerce
  • Manufacturing
  • Government & Defense
  • Education
  • Energy & Utilities
  • Others

 

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.
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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