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2021

Network Security Firewall Market

Network Security Firewall Market Size, Share, Competitive Landscape and Trend Analysis Report by Component (Solution and Services), Solution (Signaling Firewall, and SMS Firewall), Service (Professional Services and Managed Services), Deployment Model (On-premise, Cloud, and Virtualization), and Type (Packet Filtering, Stateful Packet Inspection, Next-generation Firewall, and Unified Threat Management): Global Opportunity Analysis and Industry Forecast, 2020-2030

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Author's: Abhijith Nair | Vineet Kumar
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Network Security Firewall Market Statistics: 2030

The global network security firewall market size was valued at $3.48 billion in 2020, and is projected to reach $24.34 billion by 2030, registering a CAGR of 21.6% from 2020 to 2030. A network firewall can be configured so that any data entering or exiting the network has to pass through it. It accomplishes this by examining each incoming message and rejecting those that fail to meet the defined security criteria. When properly configured, a firewall allows users to access any of the resources they need while simultaneously keeping out unwanted users, hackers, viruses, worms, or other malicious programs trying to access the protected network. Firewalls can be either hardware or software. In addition to limiting access to a protected computer and network, a firewall can log all traffic coming into or leaving a network, and manage remote access to a private network through secure authentication certificates and logins.

In 2020, the global network security firewall market share was dominated by the solution segment, and is expected to maintain its dominance in the upcoming years. Network security concerns and privacy concerns have led to increasing number of threats. This combined with only a handful of fire protection vendors in existence has boosted the demand for network security, thereby augmenting the growth of the global network security firewall market. Moreover, increase in adoption of IoT and cloud computing is expected to provide remunerative opportunities for the expansion of the global market during the forecast period.

Network-Security-Firewall-Market--2021-2030

By solution, the SMS firewall acquired the major share in 2020, and is estimated to maintain its dominance during the forecast period. This is attributed to increase in deployment of SMS firewall for network security, anti-spam & fraud prevention, and increased adoption of A2P messaging for monetization purpose. By deploying next-generation firewalls, mobile network operators can secure their networks and generate revenues from legitimate A2P use cases.

Currently, North America holds the largest market share of network security firewall and its development. The network security firewall market is growing rapidly in the U.S., due to high acceptance of network solutions between businesses. In addition, surge in incidence of data breaches and increase in financially targeted cyber-attacks have encouraged businesses to find pre-network security solutions. In addition, vendors of major solutions in the internet security market are from North America, thus creating high growth potential. The timely adoption of network security firewall software solutions and the presence of several vendors providing Distributed Denial of Service (DDoS) protection are further expected to boost market growth in the region. Moreover, businesses in the region continue to use network security software solutions to detect and prevent threats at an early age, which notably contributes toward the network security firewall market growth.

Aerospace, defense, and intelligence Industries are driving the network security firewall market growth in North America. The region has invested heavily in cyber security solutions to prevent the theft of smart assets and compromise systems used to monitor and control security systems and the state. In line with modern defense development, countries such as the U.S. and South Korea have developed new technologies, such as unmanned vehicles and hypersonic weapons. This development is highly dependent on data and communication, which makes it easier to break and attack. Therefore, surge in need to focus on the implementation of measures to protect sensitive information augments the demand for network security firewall solutions.

The report focuses on the growth prospects, restraints, and network security firewall market analysis. The study provides Porter’s five forces analysis of the network security industry to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the network security firewall market trends.

Segment review

The network security firewall market is segmented into component, solution, service, type, deployment model, and region. Depending on component, the market is bifurcated into solution and services. On the basis of solution, it is categorized into signaling and SMS firewall, while on the basis of services, it is fragmented into professional and managed services. By deployment type, the market is differentiated into on-premise, cloud, and virtualization. As per type, it is segregated into packet filtering, stateful packet inspection, next-generation firewall, and unified threat management. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

COVID Impact Analysis

Post COVID-19, size of the network security firewall market is estimated to grow from $4.17 billion in 2021 and is projected to reach $24.34 billion by 2030, at a CAGR of 21.6%.With the COVID cases on rise across the globe, the world relied on online retailers and e-commerce websites for their shopping needs, as local malls and shops remained closed amid the pandemic. This created heavy responsibilities for the banking and financial sectors to invest heavily in security of payment gateways to help protect these increased numbers of online transactions. This, in turn, augmented the demand for network security firewall solutions across the globe for the sake of safety of these personal patient data and data analysis tools from cyber criminals. Furthermore, during the COVID-19 pandemic, several companies instituted remote working for their workers to help reduce the spread of coronavirus. These remote working conditions necessitated increased data protection for corporate data. However, with convenience and ease of use, workers can sustain high productivity.

Top impacting factors

Factors such as surge in demand for network security and privacy methods within enterprises, backed by increasing number of cyber-based attacks and frauds has emerged as one of the major driving factors of the global market. Furthermore, increase in awareness about data security and privacy during the COVID pandemic is expected to create lucrative opportunities for the network security firewall market growth.

Rise in awareness about data security and privacy

Surge in use of cloud computing, big data, and the Internet of Things has altered the corporate landscape by fostering maximum agility to attain competitiveness. However, as a result, concerns about unauthorized access, data breaches, and account hijacking have grown considerably in recent years. Thus, network security firewalls serve as an ideal technology for businesses to reduce data security issues.

Furthermore, the use of network security firewalls is rising in many companies, and is driving their networks to safeguard data and information from security breaches and cyber-attacks.

According to a Forbes magazine article published in 2020, even after the economic slowdowns caused by the COVID-19 pandemic, organizational expenditure on network security firewalls and cybersecurity solutions increased by 2.4% as compared to prior years, while other IT investments decreased. This illustrates those organizations and businesses are prioritizing the security of their digital infrastructure by raising their security expenditure. Thus, all these factors are anticipated to offer remunerative opportunities for the network security firewall industry in the future.

Network Security Firewall Market
By Component
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Service segment is projected as one of the most lucrative segments.

Increase in cyber-attacks during the COVID-19 pandemic

Remote working has gained significant traction across the globe, as a result of the outbreak of the COVID-19 pandemic, thereby increasing the cyber risks for businesses. As attackers are seeking for weak areas in an organization's infrastructure, multiple endpoints with relatively less security have become new targets for these attackers. Thus, surge in need for deployment of strong network security, firewall solution have witnessed increased penetration. 

During the early periods of lockdown, multiple cyber-attacks and network intrusions were reported. For instance, the United States Department of Homeland Security estimated a 250% rise in data breaches and cyber-related assaults on federal networks over the previous years. Cybercriminals are using the pandemic as an excuse to increase their malicious activity by exploiting the vulnerabilities of remote employees and capitalizing on public interest in coronavirus. These factors are driving companies to boost their security investment and upgrade their network security firewall infrastructure r to accommodate remote working situations. This bodes well for the global network security firewall market opportunity.

Network Security Firewall Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

APAC is projected as one of the most significant region.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the network security firewall market along with current trends and future estimations to elucidate imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of network security firewall market forecast for the period 2020–2030 is provided to determine the market potential.

Key Market Segments

By Component

  • Solution
  • Services

By Solution

  • Signaling Firewall
  • SMS Firewall

By Services

  • Professional Services
  • Managed Services

By Deployment 

  • On-premise
  • Cloud
  • Virtualization

By Type

  • Packet Filtering
  • Stateful Packet Inspection
  • Next Generation Firewall
  • Unified Threat Management

By Region

  • North America
    • U.S.
    • Canada
  • Europe 
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific 
    • China
    • India
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players

  • ADAPTIVEMOBILE
  • AMD Telecom
  • Anam
  • Cellusys
  • Mobileum
  • NetNumber
  • Orange
  • Openmind Networks
  • SAP SE
  • Sinch

Network Security Firewall Market Report Highlights

Aspects Details
Network Security Firewall Market By Component
By Component
  • Solution
  • Services
Network Security Firewall Market By Solution
By Solution
  • Signaling Firewall
  • SMS Firewall
Network Security Firewall Market By Services
By Services
  • Professional Services
  • Managed Services
Network Security Firewall Market By Deployment Model
By Deployment Model
  • On-premise
  • Cloud
  • Virtualization
Network Security Firewall Market By Type
By Type
  • Packet Filtering
  • Stateful Packet Inspection
  • Next Generation Firewall
  • Unified Threat Management
Network Security Firewall Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

ADAPTIVEMOBILE SECURITY., OPENMIND NETWORKS, ORANGE, CELLUSYS, SINCH, MOBILEUM, AMD TELECOM S.A., NETNUMBER INC, SAP SE, .ANAM TECHNOLOGIES

Analyst Review

According to CXOs of the major companies, the network security firewall market is experiencing rapid growth, backed by strong demand for network security and privacy. Over the last few decades, increase has been witnessed in the need for security solutions all over the world. In the late 1990s and early 2000s, security equipment began to become mainstream for commercial and government applications; during this time, enterprise level firewalls, intruder detection systems, identity management systems, and event management solutions began to emerge. In the early years, cyber and network security hardware were majorly used, however, factors such as increased governmental policies for user data safety and privacy, increase in number of cyber & network attacks, and critical corporate data have made security solutions an absolute necessity in today's world.

Compliance policies such as the European union’s General Data Protection Regulation (GDPR) act needs organizations and businesses serving citizens of the European Union to comply with six GDPR principles Lawfulness, fairness, and transparency; Purpose limitation; Data minimization; Accuracy; Storage limitation; and Integrity and confidentiality.

COVID-19 prompted a considerable proportion of routine activities and businesses to shift online. As organizations and individuals throughout the world began to rely on digital activities, cyber criminals leverage the situation to cause havoc around the globe. Cybercrime has become a key concern for organizations. According to a study published in Cybercrime Magazine, by the end of the year 2021, damages and ransoms collected by hackers and cyber criminals around the globe could amount to be more than $6 trillion. The study further claims that these costs could grow every year and reach up to $10.5 trillion in the coming five years, growing at the rate of 15% each year. Recently, major game publisher, Electronic Arts Inc. was hacked in early June of 2021 with more than 780 GB of its data stolen and held at ransom. This stolen data included source code for its FIFA 21 game. These factors influence the growth of the global network security firewall market.

The network security firewall market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of solutions & services, reliability, efficiency of products, and support services. The market is concentrated with major players consuming 45–50% of the share. The degree of concentration is expected to remain same during the forecast period. Furthermore, increase in use of cloud computing, big data, and the Internet of Things has altered the corporate landscape by fostering maximum agility to attain competitiveness.

Author Name(s) : Abhijith Nair | Vineet Kumar

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Network Security Firewall Market

Global Opportunity Analysis and Industry Forecast, 2020-2030