Global Enterprise Firewall Market Outlook 2031:
The global enterprise firewall market size was valued at USD 11.91 Billion in 2022 and is projected to reach USD 24.21 Billion by 2031, expanding at a CAGR of 8.2% during the forecast period 2023 - 2031. Growth of the market is attributed to increasing demand for advanced network security solutions, the development of a complex IoT threat landscape, and compliance with strict government data security regulations.
A firewall is a security system that controls network traffic according to certain rules. The firewall acts as an intermediate layer between trusted and untrusted networks and filters network traffic according to predefined firewall policies. Firewalls are the main security tool used to inspect the flow of inbound and outbound company data packets. Subject to rules and regulations, and determine whether the data flow is not affected by malicious activities and seek security. Hackers all over the world can access any website or data.
The firewall is an important part of any company to protect it from cyber threats. The firewall protects the critical information flowing within the organization from external and internal threats. Corporate firewalls are located at the edge of the network and enforce security policies by blocking or allowing certain network traffic.
Since database security is very important to any enterprise, data firewalls can immediately prevent attacks on the database. The organization needs an application. Generally, the company database firewall cannot collect information such as client IP address, user name, host name, and browser. The firewall can determine whether a specific SQL query is invalid, but it cannot determine who made the malicious query.
Enterprise Firewall Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for network security in different industry for protection of data is expected to boost the enterprise firewall market growth during the forecast period.
- Rapid growth of the financial service industry requires data protection is major factors fueling the enterprise firewall market growth.
- Increasing demand of data protection from hackers and threat for organization due to change in policies as bring your own devices is expected to drive the market during the forecast period.
- High input cost for setup of enterprise firewall system is projected to restrict the enterprise firewall market expansion.
- Lack of awareness about security solution in developing regions and adoption of unified threat management by SMEs act as major challenges that can hamper the market growth during the forecast period.
- R&D investment and technological advancement in next-generation firewall systems and single vendor firewall deployment is expected to offer significant opportunities for the market players.
Scope of Enterprise Firewall Market Report
The report on the global enterprise firewall market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Enterprise Firewall Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 – 2021
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Forecast Period
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2023 – 2031
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Segmentation
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Type of Deployment (On-premise and Cloud), Solutions (Software, Hardware, and Services), Size of the Organization (Small & Medium Organization and Large Organization), and End-user (Government, Healthcare, Media, Financial Services, Retail, Education, Manufacturing, Communications, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Huawei Technologies; Cisco Systems Inc.; McAfee (Intel Security Group); Dell Inc.; and The Hewlett-Packard Co.
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Enterprise Firewall Market Segment Insights
The cloud segment is projected to hold a major market share
On the basis of type of deployment, the enterprise firewall market share is bifurcated into on-premise and cloud. The cloud segment is expected to represent a key share of the market during the forecast period owing to cloud computing provides a flexible working environment, data distribution, and efficient storage that other traditional computing and storage systems cannot match, the number of cloud computing is increasing day by day.
Therefore, many companies are turning to cloud computing by hosting their data and communications in the cloud. Security issues are one of the main obstacles to the spread of cloud technology. Growing demand for network security, especially in the manufacturing industry, is mainly due to the rapid introduction of Industry 4.0 guidelines.
Internet of things applications are also expected to generate strong demand for corporate firewalls. With the advent of the cloud, the firewall now deployed provides an integrated solution that can expose the firewall to any device, eliminate any traffic load, and implement similar strategies throughout the enterprise.
The hardware segment is expected to grow at a rapid pace
In terms of solutions, the enterprise firewall market is divided into software, hardware, and services. The hardware segment is expected to represent a key share of the market during the forecast period owing to increased defense information technology (IT) infrastructure modernization plans by governments such as the United States, China, and India cyber threats in the military subsystem are forcing governments around the world to strengthen their cyber security services through cooperation with key service providers.
The large organization segment is anticipated to expand at a rapid CAGR
Based on size of organization, the enterprise firewall market is bifurcated into small & medium organization and large organization. The large organization segment is expected to represent a key share of the market during the forecast period due to the increasing cases of data leakage and application attacks on the Internet in industries such as IT and BFSI are increasing, the firewall segment of large enterprises has an important market share.
The needs of the IoT and Industry 4.0 have led many small and medium-sized enterprises to gradually adopt corporate firewalls. Large companies are organizations with large numbers of employees. These companies invest heavily in cutting-edge technologies to increase productivity and overall efficiency. Large companies can find a variety of cloud security solutions to choose from, and can invest heavily in advanced cloud security solutions to provide better security in a competitive business environment.
In addition, these companies use cloud-based security solutions to provide effective protection to prevent attacks that disrupt their information technology (IT).
The financial services segment is expected to grow at a rapid pace
In terms of end-user, the enterprise firewall market is divided into government, healthcare, media, financial services, retail, education, manufacturing, communications, and others. The financial services segment is expected to represent a key share of the market during the forecast period owing to protection of customer finances and data, and requires a firewall for security reasons to protect critical transactions from certain malicious software.
A secure payment gateway needs to be meaningful, and the most effective improvements are anticipated to drive the market. On the other hand, the healthcare segment is anticipated to expand at a rapid pace during the forecast period owing to large healthcare companies invest in new technologies such as intelligence and natural language, the cases of data leak of health care information security, and privacy issues continue to escalate. Computers and the IoT have reduced operating costs and improved the quality of healthcare.
In addition, hospitals are increasingly using electronic health records (EHR) to store sensitive patient information. Comprehensive health and non-life insurance coverage and the transmission of large amounts of data to patients, care providers, and payers have increased the need to protect online information.
Protecting patient privacy at every hot spot has always been the key to important safety decisions in the industry.
North America is expected to dominate the market
On the basis of regions, the enterprise market is categorized as North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The market in North America is anticipated to expand at a high CAGR during the forecast period. Growth of the market is attributed to the corporate security preferences and the fact that organizations continue to implement high-performance network security solutions.
North America currently has the largest market share. The cloud solution is cost-effective, automated integration, minimal IT investment, and ease of availability, so it plays a key role in the growth of the market. Recent technological advancements have also promoted the development of the enterprise firewall market. These improvements can make the entire process more efficient and significantly improve accuracy in many applications.
Segments
The global enterprise firewall market has been segmented on the basis of
Type of Deployment
Solutions
- Software
- Hardware
- Services
Size of Organization
- Small & Medium Organization
- Large Organization
End-user
- Government
- Healthcare
- Media
- Financial Services
- Retail
- Education
- Manufacturing
- Communications
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the enterprise firewall market include Huawei Technologies; Cisco Systems Inc.; McAfee (Intel Security Group); Dell Inc.; and The Hewlett-Packard Co.
Some of these players have introduced several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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