Firewall as a Service market is estimated to grow at a CAGR of approximately 23.01% :

Pune, India, May, 2018, MRFR Press Release/- Market Research Future published a half cooked research report on the global firewall as a service market.

Market Highlights

Organizations use firewall solutions to protect end-to-end web application and database of customer information and business. With the implementation of various firewall services, it has become easier for the organization to control the data traffic. Organizations using conventional firewall services are less flexible in coping with peak load and high user traffic as compared to next generation firewall which provide users more flexibility to manage virtual cloud environment. Increasing incidents of attacks such as DDOS, Malware & Cyberthreats, and adoption of cloud services the market for Firewall as a Service (FWaaS) is estimated to bring rapid growth to the market. The key challenge in Firewall as a Service market is vulnerability to cyber-attacks. Also, lack of skilled resources to manage the next generation firewall is also a major challenge which may hamper the growth of Firewall as a Service market.

 Key players

The prominent players in the market of Firewall as a service are Barracuda Networks (US), Check Point Software Technologies (Israel), Cato Networks (Israel),Cisco Systems (US), Fortinet (US), Forcepoint (US), Juniper Networks (US), WatchGuard (US), and Zscaler (US), Palo Alto Networks (US).

Other Players in the market include Sophos (UK), Sangfor Technologies(China), H3C(China), Hillstone Network(US). Mergers and acquisitions among the key players are changing the market structure. For instance, Intel Security sold its firewall business to Raytheon/Websense sand renamed as Forcepoint become a cybersecurity super power.

The prominent players keep innovating and investing in research and development to present a cost-effective offerings.

The Global Firewall as a Service market is projected to reach USD 1.98 billion at a CAGR of over 23.01% by the end of the forecast period 2017-2023.

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 Regional Analysis

The geographical analysis of global firewall as a service market is done for regions like North America, Europe, Asia Pacific, and rest of the world. Among these regions, the market is mostly dominated by North America during the forecasted year. The major growth driver in this region are, increase in investment in cybersecurity companies by the corporate investors. Also, increase in initiatives by government to enhance the security of customer information and increasing need to prevent cyber-attacks is also expected to drive the market growth. For instance, On January 5, 2017, the U.S. Department of Commerce and the U.S. Department of Homeland Security has released executive order on strengthening the cybersecurity of Federal Networks and Critical Infrastructure with mission is to protect cyberspace information and infrastructure, build capabilities to prevent and respond to cyberattacks. North America has the presence of major sustainable and well-established organizations, who invest in R&D activities, hence contributing to the development of security technology. Asia Pacific is expected to grow in forecast region due to rapid digitalization, the presence of SME’s and large Enterprises, and increasing adoption of cloud services. To defend their network against threats, SME’s are ready to use customized security applications. APAC region aims to be the fastest growing market due to increasing investment in cloud infrastructure.