Firewall as a Service Market -Global Industry Analysis and Forecasts 2024-2030

The Firewall as a Service Market was valued at US$ 2.57 Bn. in 2023. The Firewall as a Service Market size is estimated to grow at a CAGR of 25% over the forecast period.
Firewall as a Service Market Overview:
The report explores the Firewall as a Service market and its segments (Service Type, Deployment, End-User, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2023. The report investigates the Firewall as a Service market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Firewall as a Service market's contemporary competitive scenario.To know about the Research Methodology :- Request Free Sample Report
Firewall as a Service Market Dynamics:
A Firewall is a network security device that monitors incoming and outgoing network traffic in an organization it is a barrier that sits between a private internal network and the public internet. Cloud computing has become a standard technology in the business up to 90% of the enterprises are using the cloud in some way. Several cloud providers are offering firewalls to their customers. The Firewall will continue to be an essential component of any organization’s security solution because as the cyber security landscape continues to evolve, cyber-attacks become more sophisticated. These are the major factor driving the growth of the Firewall as a Service Market.

The companies choosing application-based security networks are facing security and maintain multiple applications on each site location as the applications require e continuous updates. Connecting mobile users to local and cloud applications while keeping security and visibility is challenging using appliances. The lack of concern towards security is the major challenge faced by the market, which would hamper the growth of the market.
Firewall as a Service Market Trends:
Cyber-physical system in clouds is a relatively new concept that will boost market growth. The field of Firewall is changing rapidly providers are constantly introducing new functionality by improving current offerings. It developed a new tool that enables cloud customers to check their Firewall on their own. The widespread use of BYOD, mobile transactions, and linked gadgets across the globe has increased in demand for firewalls as a service market.
Firewall as a Service Market Segment Analysis:
Based on Service Type, the Firewall as a Service Market is segmented into Software as a service (SaaS), Logging as a service (LaaS), and Platform as a service(PaaS). The SaaS segment held the largest market share in 2023 and is expected to remain the same during the forecast period. It is flexible and reduces the operational cost, which helps the technical staff to manage tasks like installing, managing, and updating Software.

Based on Deployment Mode, The Firewall as a Service Market is segmented into Private Cloud, Public Cloud, and Hybrid Cloud. The public segment dominated the market with a market share of 63% in 2023 and is expected to grow at the highest rate during the forecast period. The Public cloud is the virtual network security device shared between the customer and the cloud service provider. It has automated backup systems to prevent data loss in the event of a site failure.

Based on End-Use, The Firewall as a Service market is segmented into Aerospace & Defense, Telecom & IT, Banking Financial Services, Retail, and Industrial. The retail segment dominates the market with the highest CAGR of 22% and is expected to remain the same during the forecast period. It is used to secure data because the retail industry deals with thousands or millions of financial transactions, so the attackers have a good reason to target the industry which is the major factor driving the retail segment growth.
Firewall as a Service Market Regional Insights:
The North American region held the largest market share accounting for 37% in 2023. The rise in smartphone penetration led to an increase in internet penetration which has made the region a leader in the firewall market, and the increase in cybercrimes is the major contributor to the firewall as a service market.

Europe is expected to witness significant growth at a CAGR of 6.8% through the forecast period. The rise in cloud technology is now being deployed, and the rise in demand for security services to mitigate the risk of cyberattacks is also driving the growth of the market in this region.

The objective of the report is to present a comprehensive analysis of the global Firewall as a Service Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the Firewall as a Service Market dynamic and structure by analyzing the market segments and projecting the Firewall as a Service Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Firewall as a Service Market make the report investor’s guide.
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Firewall as a Service Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 2.57 Bn.


Forecast Period 2024 to 2030 CAGR:
25%
Market Size in 2030:
US $ 12.27 Bn.


 Segments Covered:
by Service Type
SaaS
PaaS
LaaS


by Deployment
Private Cloud
Public Cloud
Hybrid Cloud


by End-Use
Aerospace & Defense
Telecom & IT
Banking Financial Services
Retail
Industrial



Firewall as a Service Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Firewall as a Service Market Key Players are:
1. Fortinet, Inc.
2. Spitfire Technology Group
3. Forcepoint
4. Juniper Networks
5. Zscaler
6. Cisco Systems
7. Barracuda Networks
8. Cato Networks
9. Palo Alto Networks
10.Watchgaurd
11.Skybox Security, Inc.
12.AlgoSec
13.FireMon, LLC.
14.F5,Inc.
15.Vocus Group
16.Sprout Technologies Limited
Frequently Asked Questions:
1] What segments are covered in the Global market report?
Ans. The segments covered in the market report are based on Service Type, Deployment, and End User.

2] Which region is expected to hold the highest share in the Global market?
Ans. The North American region is expected to hold the highest share in the Firewall as a Service Market.

3] What is the market size of the Global market by 2030?
Ans. The market size of the market by 2030 is expected to reach US$ 12.27 Bn.

4] What is the forecast period for the Global market?
Ans. The forecast period for the market is 2024-2030.

5] What was the market size of the Global market in 2023?
Ans. The market size of the market in 2023 was valued at US$ 2.57 Bn.