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Next-Generation Firewall Market, by Security Type (Firewall, Unified Threat Management, Network Security, Identity-based security), By Solution (Cloud, Virtual, Hardware), By Organization Size, By Services, By End Users (Telecommunication and IT, Government and Defense, BFSI) - Forecast 2032


ID: MRFR/ICT/2364-HCR | 100 Pages | Author: Aarti Dhapte| May 2024

Next-generation Firewall Market Scenario



The next-generation firewall (NGFW) market is expected to reach a value of USD 11.89 Billion by 2032, growing at a CAGR of 12.0% from 2022 to 2032. This growth is being fueled by several factors, including the increasing adoption of cloud computing and the Internet of Things (IoT), the growing sophistication of cyberthreats, and the increasing regulatory requirements for organizations to protect their data.


The next-generation firewall (NGFW) market is a rapidly growing segment of the cybersecurity industry, driven by the increasing need for organizations to protect themselves from sophisticated cyberthreats. NGFWs are advanced security solutions that integrate traditional firewall functionalities with advanced features such as intrusion prevention, application awareness, deep packet inspection, and encrypted traffic analysis. These features enable NGFWs to provide more comprehensive protection against a wider range of threats than traditional firewalls.


Next-generation Firewall Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review



With the growing use of technologies and internet, cyber-attack has also increased. With the advancement of cloud technology, the security of data is now in danger. Malware, ransomware, application-layer attacks, and targeted threats, have added complexity to the network. The traditional threat detective technologies methods are not good enough to avoid these problems effectively. To successfully protest their business, the organizations need advanced technologies and trusted intelligence provided by the next-generation firewall.


The next-generation firewall gives advanced security options such as firewall, application control, intrusion prevention. Many organizations are using the next-generation firewall to make their security system strong. The next-generation firewall market is growing as security threats are increasing every day. 


An increasing number of devices are connected to the internet, including mobile phones, smart TV, and other devices. According to a study, by the year, 2030 more than 5000 billion electronic devices are expected. And with it, cyber threats will also increase. With the proper security solution, cyber-attacks can be avoided.


COVID-19 ANALYSIS


The covid-19 pandemic had a huge impact on businesses all over the world. For some businesses, it had a positive impact, and for some, it had a negative impact. But, the covid-19 had a good impact on the next-generation firewall market. Due to the lockdown, the use of loT devices and access to the internet increased, and as a result, the cyber-attack cases also increased, and it was a threat to the valuable and important data. To provide maximum security, the organizations used next-generation firewalls to protect their data. And this became the reason for next-generation firewall growth. 


Market Dynamics


Many factors drive the growth of the next-generation firewall market, and there are so many challenges faced by the next-generation firewall market on a daily basis, and there are some market restraints that affect next-generation firewall growth.




  • Key Drivers




There are some major drivers in the next-generation firewall market that drive the growth of next-generation firewall market size, and one of the major drivers in the market is the increasing number of loT devices. With an increasing number of internet of things (loT) and access to the internet, the need for data security is also increasing in the world, and it is driving the growth of the next-generation firewall industry. Another driver in the global market is increasing internal and external threats. With the advancement of technology, the threats to data are increasing, and now business is improving their security to protect their important data. Organizations are taking the help of security solutions in order to provide protection, and this is driving the growth of next-generation firewall business globally. Next-generation firewall solutions provide high security. As a result, businesses are preferring the next-generation firewall solution.




  • Restraints




There are some restraints in the next-generation firewall that are stopping the growth of the next-generation firewall market. A next-generation firewall is highly effective, but it is costly, so it is getting difficult for the medium business to afford it. The high-cost systems are one of the major restraints in the next-generation firewall. Due to the high-cost systems, only big companies are able to use them. Another restraint in the market is the small and medium businesses are using traditional methods and old technology, and they don’t want to update their technology, so it becomes a restraint for the market.


The business is adopting a UTM solution for security because it is costs less than the next-generation firewall solution. UTM solution is much easier to organize and has less complexity in comparison to the next-generation firewall, and it is becoming a restraint in the next-generation firewall market.




  • Challenges




The next-generation firewall market faces many challenges every day. The presence of traditional firewalls is a big challenge for the market. Businesses and many organization are using the same traditional solution to provide security, and they prefer these solutions because it is less complex. Businesses are not used to the technically advanced new solutions, so they are using the old firewalls. It is a big challenge to make people understand these new solutions that are more effective than the traditional firewalls. And another thing is people are not aware of the advanced cyber threats, so they don’t use advanced security solutions for their businesses. A low level of awareness about advanced cyber threats becomes a challenge for the next-generation firewall market.




  • Opportunities




With the growth of the internet, the next-generation firewall market is facing so many opportunities over the years. The opportunities for the market are Single vendor firewall deployment and High growth opportunities in virtual NGFW.




  • Cumulative Growth




The key players of the next-generation firewall market are the reason behind the market growth, and these key players have understood the value of the next-generation firewall market, and they are contributing to the market in a big way. It is expected the market will grow more in the upcoming years, and key players will play a vital role in it.




  • Value Chain Analysis




The global next generation firewall market is expected to grow at 12.50% CAGR between 2021-2030, and it is expected to grow $7.4 billion as more electronic devices are connected, and the trend of loT is increasing. The market will grow in order to provide protection to the network infrastructure.


Segment overview


The next-generation firewall market segments are following


By Security Types:



  • Unified Threat Management

  • Firewall

  • Network Security

  • Identity-based security

  • Others


By Services:



  • Professional Service

  • Managed Service

  • Support and Maintenance

  • Training and Education

  • Consulting Service

  • System Integration

  • Others


By Organization Size:



  • Large Enterprises

  • Small and Medium Enterprises


By Solution:



  • Hardware

  • Cloud

  • Virtual

  • Others


By End-User:



  • Retail and Wholesale

  • Manufacturing

  • Healthcare

  • BFSI

  • Education

  • Telecommunication and IT

  • Government and Defense

  • Others 


By Region:



  • North America

  • Europe

  • Asia Pacific (APAC)

  • Rest of the World (ROW)


Regional analysis


The regional analysis of the next-generation firewall market is a part of studies in so many regions across the globe, such as North America, Asia-Pacific, Europe, and other regions. North America now dominates the global next-generation firewall market. North America has a high preference of business for security for sensitive data used by them as well as the adoption of advanced technology solutions by organizations is driving the market sales in that region. In recent times so many firms in the USA suffered from a cyber-attack when data was encrypted in the form of cryptocurrency. This attack took place because so many users are unsecured, so they took the help of advanced privacy solutions, and it increased the demand of the market in the region. Now the North American region holds the highest share in the market.


The next-generation firewall market in Europe is growing with a high CAGR due to the increasing use of data centers, small businesses, and home offices in this region. Asia-pacific countries are also showing growth in the market.


Competitive analysis


The key players play a vital role in the growth of the next-generation firewall industry. Some of the key players are




  • Cisco Systems, Inc. (US) 




  • Juniper Networks, Inc. (US)




  • Fortinet, Inc. (US)




  • Barracuda Networks, Inc. (US) 




  • WatchGuard Technologies, Inc. (US) 




  • Palo Alto Networks, Inc. (US)




  • Forcepoint LLC (US)




  • Zscaler, Inc. (U.S)




  • Sophos Group Plc. (UK) 




  • Check Point Software Technologies Ltd. (US)




Some of the key players are the main reason behind the growth of next-generation firewall market business such as Cisco Systems, Inc. (US), Juniper Networks, Inc. (US), Fortinet, Inc. (US), Barracuda Networks, Inc. (US), WatchGuard Technologies, Inc. (US),Palo Alto Networks, Inc.,(US), Forcepoint LLC (US) but among these key players, Cisco Systems contribute the most in the market.


Recent developments



January 2024


An offer of $14 billion has been made by Hewlett Packard Enterprise (HPE) in an effort to acquire Juniper Networks. As HPE CEO Antonio Neri and Juniper CEO Rami Rahim explain, this transaction signifies the two companies' dedication to integrating security into the foundation of networking solutions, in addition to augmenting the networking and artificial intelligence (AI) focus.


Neri contends that the security aspect represents "a substantial opportunity" and further states, "We are committed to providing a secure unified network and experience by integrating AI into our operations at their core." Moreover, security is an essential element within this framework.


HPE has prioritized security and intends to implement a policy that applies uniformly to all connection methods. In a previous interview with SDxCentral, Larry Lunetta, vice president of portfolio solutions marketing at HPE Aruba, stated, "We have always thrived at the intersection of networking and security." "We are currently doubling down aggressively on the security aspect of our organization."


The vendor recently acquired Axis Security, a provider of security services edge (SSE), in addition to its on-premises network security services offered by HPE Aruba.


Neri remarked that the Juniper Networks acquisition unifies the company's network security capabilities, such as its SRX firewall products.


At a press and analyst conference, he stated, "The time-sensitive acquisition of Axis Security, combined with our capabilities and the SRX component they possess, represents an opportunity to cross-sell, up-sell, and provide them with a modern secure framework."


In addition to the SRX next-generation firewall products, the Connected Security portfolio from Juniper Networks provides on-premises and cloud-based threat prevention, threat intelligence, and security analytics. The vendor claims that its security-related portfolio consists of the following: service provider security, secure access service edge (SASE), public cloud security, threat detection and mitigation, and zero trust data center.



The next-generation firewall market trends are going upward in few years. Let’s see some of the recent developments in the market.



  • Cisco launched Cisco Firepower 2100 Next-generation firewall that protects the critical data and provides defense in the retail sectors and bank sectors which have a large amount of data.

  • Fortinet launched a new NGFW solution named FortiGate 3980E and FortiGate 7060E, and these solutions provide high security.

  • Palo Alto Networks launched a new availability in NGFW, and it will allow the customers to move the solutions from the cloud and secure their data from various attacks.


Report overview



  • The market scenario highlights

  • Covid-19 analysis

  • Market dynamics explanation

  • Regional analysis

  • Competitive landscape analysis 

  • Recent Developments

  • Segmentation overview

Report Attribute/Metric Details
  Market Size   USD 11.89 Billion
  CAGR   12.0%  
  Base Year   2022
  Forecast Period   2022-2032
  Historical Data   2018
  Forecast Units   Significant value
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Solution
  Geographies Covered   North America, Europe, Aisa Pacific
  Key Vendors   Cisco Systems, Inc. (US) Juniper Networks, Inc. (US) Fortinet, Inc. (US) Barracuda Networks, Inc. (US) WatchGuard Technologies, Inc. (US) Palo Alto Networks, Inc. (US) Forcepoint LLC (US) Zscaler, Inc. (U.S) Sophos Group Plc. (UK) Check Point Software Technologies Ltd. (US)
  Key Market Opportunities   With the growth of the internet, the next-generation firewall market is facing so many opportunities over the years.
  Key Market Drivers   Organizations are taking the help of security solutions in order to provide protection, and this is driving the growth of next-generation firewall business globally.


Frequently Asked Questions (FAQ) :

The advantages of next-gen firewall are intrusion prevention, application control, etc.

The next-generation firewall market is expected to mark 12.00% CAGR.

The next-generation firewall market size is expected to reach $11.89 Billion mark by 2032.

The segments of the next-generation firewall market, by security type, are firewall, network security, unified threat management, identity-based security, and others.

North America is supposed to lead the next-generation firewall market.

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