Firewall as a Service Market Research Report – Forecast to 2027

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 2027

ID: MRFR/ICT/4561-HCR | October 2022 | Region: Global | 100 Pages         

Firewall as a Service Market

Firewall as a Service Market size exceeded USD 1.78 Billion in 2027 and is projected to expand at over 23.01% CAGR from 2020 to 2027.

Segmentation

By Solution Advanced Threat Protection Next Generation Firewall Traffic Control & Monitoring Managed Services
By Service Model Infrastructure As A Service (Iaa S) Platform As A Service (Paa S) Software As A Service (Saa S)
By Vertical Banking Financial Services And Insurance (Bfsi) Education Energy And Utilities Government And Public Sector Healthcare And Life Sciences

Key Players

  • Barracuda Networks (US)
  • Check Point Software Technologies (Israel)
  • Cato Networks (Israel)
  • Cisco Systems (US)
  • Fortinet (US)
  • Forcepoint (US)
  • Juniper Networks (US)
  • WatchGuard (US)
  • Zscaler (US)
  • Palo Alto Networks (US)

Drivers

  • Since it offers customers simpler administration
  • Extensive security services
  • Customizable firewall solutions
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Firewall as a Service Market Overview:


According to the latest research report, in the projected period, the Firewall as a Service market size is estimated to reach 1.98 billion, increasing at a compound annual growth rate (CAGR) of 23.01 percent by during the forecast period. Cyber-attacks have grown in importance throughout the world, and the huge growth in cyber theft over the past several years has wreaked havoc on the business as a whole. The widespread use of Bring Your Own Device, mobile transactions, and linked gadgets throughout the world has resulted in an increase in device cyber attacks and data breaches, which has resulted in widespread use of different firewall services. Traditionally, firewalls are deployed on each server to keep the network safe. In many ways, a firewall as a service is comparable to conventional firewalls; however, the service is housed in the cloud, which means that it is accessible from any place and can be used on almost any gadget.


Several causes, including the rising need to defend an operating system from illegal and unexpected crimes, as well as the simpler implementation of firewall software for dispersed networks, are projected to drive the growth of the Firewall as a Service Market. On the other hand, there are several problems that may obstruct the expansion of the Firewall as a Service Market, including inadequate technical skills to handle the complex firewall mechanisms as well as the absence of governance and stable network equipment.


This report contains all the information on the global Firewall as a Service market analysis and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. 


Covid 19 Analysis:
The advent of the COVID-19 pandemic results in increased investment on advanced services and technology including cloud computing, the Internet of Things, artificial intelligence, and corporate flexibility. Furthermore, the growing number of people working from home in the face of worldwide shutdowns due to the COVID-19 pandemic is likely to fuel the need for cloud-based applications throughout the forecast timeframe.


Market Dynamic:
Drivers:
Since it offers customers simpler administration, extensive security services, customizable firewall solutions, and cost-effective capabilities, small and medium-sized businesses are slowly but steadily embracing this technology. The financial services industry (BFSI) makes a significant contribution to the expansion of the Firewall as a Service Market growth, since financial firms are the target of the majority of cyberattacks.


Opportunities:
The interrelated and linked design of modern computer environments exacerbates the possibility of cyberattacks on a global scale. As a result, firewalls assist companies by safeguarding them from cyber-attacks, which has resulted in the expansion of the Firewall as a service industry.


Restraints:
The difficulty in combining online firewalls with on-premise firewalls, as well as weak IT infrastructures in developing countries, is limiting firewall as a service market share expansion.


Challenges:
The rising number of legal and regulatory obligations, along with a scarcity of technical talent, would most certainly stifle the expansion of the firewall as a service industry throughout the time under consideration. Integration of cloud firewalls with conventional technologies will be the most difficult and time-consuming barrier for the market's continued development in the coming years.


Cumulative Growth Analysis:
In recent times, firewall-as-a-service had also gained a foothold in a variety of industries, including banking and financial services, government, information technology, and telecommunications, health insurance, department stores, production, aerospace & automotive, power and utilities, and many others, by providing a sophisticated cloud-based network protection system for businesses of all sizes. Because cloud network traffic is growing at an exponential pace, enterprises have implemented security solutions such as firewalls and intrusion prevention to secure their data while it is being sent across their different cloud networks.


Value Chain Analysis:
According to the reports, the global firewall as a service market is segmented on the basis of solution, services model, deployment model, organizational size, verticals, and region. Traffic Control and Monitoring, Identity Management, Advanced Threat Protection, Network Security, Next-generation Firewall, Managed services, and others are the segments of the global Firewall as a service (FWaaS) market that are classified based on the solution. The market is divided based on the Services Model, which includes Software as an Infrastructure as a Service (IaaS), Service (SaaS), and Platform as a Service (PaaS) (PaaS). The Firewall as a service (FWaaS) market is classified into three types of deployment models: private cloud, public cloud, and hybrid cloud. The FWaaS market is divided into two categories based on the size of the organization: small and medium-sized enterprises (SME) and large enterprises (LME). The market is segmented into verticals such as BFSI, healthcare, education, manufacturin, information technology & telecommunications, energy & utilities, government, retail, and others.


Firewall as a Service Market Segmentation Overview:
The market is segmented based on solution, services model, deployment model, organizational size, verticals, and region. The global firewall as a service market is expected to witness decent growth during the forecast period.


By Application:
Based on the application, the market is segmented into Traffic Control and Monitoring, Identity Management, Advanced Threat Protection, Network Security, Next-generation Firewall, Managed services, and others.


By End-users:
Based on the propulsion types, the market is segmented into BFSI, healthcare, education, manufacturing, information technology & telecommunications, energy & utilities, government, retail, and others.


Firewall as a Service Market Regional Analysis:
According to the reports, between 2017 and 2023, global Firewall as a Service Market is expected to develop at a high pace, according to the market research firm Transparency Market Research. In this section, we examine the geographical assessment of the Firewall as a Service market in North America, Europe, Asia Pacific, and the rest of the globe. In the Firewall as a Service business, North America is likely to lead over the forecast timeframe, owing to the earlier use of cloud services, the expansion of internet efforts by respective agencies, and the widespread implementation of electronic transformation. The market in the Asia Pacific is predicted to develop at a quicker pace in the coming years as a result of technology improvements, improved security compliance given by suppliers, and the growing ought to avoid cyber crimes from occurring.


Competitive Landscape:
The leading players are always inventing and spending in research & development in order to provide customers with cost-effective products and services. The market structure is evolving as a result of acquisitions and mergers among some of the different companies. Examples include Intel Security selling its firewall technology to Raytheon/Websense and renaming the company Forcepoint in order becoming a cybersecurity world superpower.


Firewall as a Service Market Major Key Players:


  • Barracuda Networks (US)

  • Check Point Software Technologies (Israel)

  • Cato Networks (Israel)

  • Cisco Systems (US)

  • Fortinet (US)

  • Forcepoint (US)

  • Juniper Networks (US)

  • WatchGuard (US)

  • Zscaler (US)

  • Palo Alto Networks (US)


Recent Developments:
Public cloud deployment models are predicted to have the biggest market share in the year 2017 and to continue to expand at a substantial pace during the projection period. The easy accessibility and rapid implementation of public cloud services are the primary reasons for their widespread use. Enterprises may profit from the cloud computing paradigm in a variety of ways, including scalability, dependability, adaptability, and remote monitoring.


Report Overview:
The following report comprises of –


  • Market overview

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview

  • By Application

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Firewall as a Service Market Segments:
Firewall as a Service Market By Service Type:



  • Traffic monitoring and control

  • Compliance and audit management

  • Reporting and log management

  • Automation and orchestration

  • Security management

  • Managed services

  • Professional services

  • Others (Connectivity and configuration management)


Firewall as a Service Market by Service Model:



  • Infrastructure-as-a-Service (IaaS)

  • Platform-as-a-Service (PaaS)

  • Software-as-a-Service (SaaS)


Firewall as a Service Market by Deployment Model:



  • Public cloud

  • Private cloud

  • Hybrid cloud


Firewall as a Service Market by Organizational Size:



  • Small and Medium-sized Enterprises (SMEs)

  • Large enterprises


Firewall as a Service Market by Vertical:



  • Banking, Financial Services, and Insurance (BFSI)

  • Education

  • Energy and utilities

  • Government and public sector

  • Healthcare and life sciences

  • Manufacturing

  • Retail and eCommerce

  • Telecommunication, and IT and ITES

  • Others (Travel and transportation, and hospitality)


Firewall as a Service Market by Region:



  • North America

  • Europe

  • MEA

  • APAC

  • Latin America



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1.78 Billion
  CAGR   23.01%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Solution, Services
  Geographies Covered   North America, Europe, Aisa Pacific
  Key Vendors   Barracuda Networks (US) Check Point Software Technologies (Israel) Cato Networks (Israel) Cisco Systems (US) Fortinet (US) Forcepoint (US) Juniper Networks (US) WatchGuard (US) Zscaler (US) Palo Alto Networks (US)
  Key Market Opportunities   The interrelated and linked design of modern computer environments exacerbates the possibility of cyberattacks on a global scale.
  Key Market Drivers   The financial services industry (BFSI) makes a significant contribution to the expansion of the Firewall as a Service Market growth, since financial firms are the target of the majority of cyberattacks.


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Frequently Asked Questions (FAQ) :

North America is expected to lead the market for its share at a global level.

The market is expecting ~1.98 billion valuation in the future.

The mounting need to secure the organization network against unauthorized and unprecedented crimes, and simplified installation of the firewall for distributed networks are the key factors driving the market.

Next-generation Firewall, Traffic Control and Monitoring, Advanced Threat Protection, Network Security, Identity Management, Managed services are the segments.

Check Point Software Technologies (Israel), Barracuda Networks (US), Cisco Systems (US) and Cato Networks (Israel) are the top key players mentioned in the study of the market.