Enterprise Firewall Market – Global analysis and Forecasts 2023-2029

The Enterprise Firewall Market was valued at US$ 11.72 Bn. in 2022 and is estimated to reach a value of US$ 22.90 Bn. in 2029. The Global Enterprise Firewall Market size is estimated to grow at a CAGR of 10.03% over the forecast period.
Enterprise Firewall Market Overview:
In computing, a firewall is a network security system that monitors and controls the incoming and outgoing network traffic based on predetermined security rules. A firewall typically establishes a barrier between a trusted network and an untrusted network, such as the Internet. The enterprise firewall regulates network traffic between untrusted sources (e.g., the Internet) and trusted sources (e.g., the WCMC network). It is often the first line of defense in preventing unwanted computers from accessing the WCMC network. Enterprise Firewall is the network security system that controls the network traffic incoming and outgoing according to the set of defined rules.

Enterprise Firewall acts as a middle layer between trusted and untrusted networks and filters the network traffic based on the predefined firewall policy. Enterprise firewalls are used for a group of devices within an enterprise. All the devices in this group would only have access to specific networks according to the organizational policies.To know about the Research Methodology:-Request Free Sample Report

The report explores the Enterprise Firewall Market's segments (Deployment, Solution, Organization Size, End-User Industry, 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 2017 to 2022. The report investigates the Enterprise Firewall Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Enterprise Firewall Market's contemporary competitive scenario.
Enterprise Firewall Market Dynamics:
New Policies Adopted by Companies are the Growth Factors for the Market-

The companies associated with different industries are highly adapting their new policies based on bringing their device (BYOD), cloud computing is exposing the networks of an enterprise across the globe. This has resulted in increased threats to enterprise security. Employees working in the field must carry devices with them and connect to outside networks, further increasing security threats. Organizations are evaluating their network security in order to improve their network security structure. Enterprise firewall is the choice of many companies to overcome the security concerns driving the enterprise firewall market globally and improving their security concerns are the factors propelling to adopt the enterprise firewall for their security to save their database or another requirement.

Facilities like Network Security Highly Influencing the Market Growth over Various Industries-

Enterprise network firewall is the network security that is majorly helping the various organizations working in various industries and improving their network security. A network firewall is an ideal place to employ the enterprise network security policy with predetermined security rules. It is an integrated network choke point that prevents potentially vulnerable services either from leaving or entering the network. It also helps in preventing unauthorized users and provides protection from various IP spoofing and routing attacks. These are designed as per the requirement of the people. In near future, the demand for the enterprise network firewall will increase due to the increasing number of cybercrimes, and the companies which are globally operating their business are highly adopting these services.

Increasing Importance of Minimizing Network Security Providing Opportunities to the Market for Growth-

The global enterprise network firewall market has majorly driven the opportunities for growth by increasing the importance to minimize the network security risks across the organization. Rapidly expanding business activities, increasing investment to enhance network security, and increasing incident of cybercrime has driven the opportunity for gaining market share globally. Additionally, adoption of the IoT devices, the use of technology, and the continuous development of software and security platforms have fuelled the growth of the market.

The increasing need for information security in today's internet world is expected to be a key driver for the enterprise firewall market- Enterprise firewall solutions are gaining popularity because the various cybercrimes are immensely spreading across the globe so it is very essential to protect organizations from potential cyber threats. These solutions are continuously evolving over the years to conquer past deficiencies and challenges. Critical information travels through communication networks of organizations and firewall solutions guard it against external and internal threats.

Increasing Demand for Cloud Solutions Promoting the Market Growth-

Rising demand for cloud-based solutions because of their real-time and cost-effective solutions is favoring the overall market of Firewall Security in organizations. Low market penetration in small and medium organizations is expected to provide new opportunities for market growth. The enterprise firewall market consumption is based on various segments like deployment methods, industry verticals, organization size, and services offering profits to all types of businesses. Deployment methods consist of cloud-based and physical deployment. Cloud is expected to be the key method to provide organizations of all sizes including small, medium, and large enterprises their security solutions across the globe.

Restraining Factors for Enterprise Firewall Market-

The major restraining factor for Enterprise Firewalls for their users is the cost factor is acquiring firewalls can be costly for organizations as they need to pay for them. If they look for hardware firewalls, then it will cost more for them. As there are installation charges, maintenance charges and also they need to hire the IT technician for this. Moreover, the cost also varies on the type of firewall the company chooses. But if they are an individual user, they can look for the software firewall as the solution. It will cost comparatively less and also meet all your security needs.

The enterprise firewall prevents access to several sites that have malware or any virus. This thing can be good for its users, but large companies often face problems because of it. As the firewalls use strict security guidelines that can affect the employees' work efforts. And hence it will also impact the productivity of the company by which it can face the loss.

Challenging Factors that restrict the Growth Factors-

Enterprise Firewalls are the security tools that keep running in the background of the computer and as there are multiple tabs open and the firewall is also running, in that case, the performance of the computer will be slow. Hence, the user will have to compromise with the efficient workflow; thus, the firewall is a challenge that restricts the small & medium enterprises to reduce the market growth. The other challenge for enterprise firewalls is there can be effective on the basic Trojans and their types. Hence, another type of malware can enter the computer device. If the organization has a firewall installed on the computer, then they need to also install the anti-virus applications. So that they can run the malware detection test and remove all these malware and viruses.
Enterprise Firewall Market Segment Analysis:
Based on Deployment, the Enterprise Firewall Market is segmented into On-Premise and Cloud. Cloud is the major segment that covers the market of more than 50% and is expected to increase the market growth by 6% in a year, and the factor which is influencing the market is cloud firewall has become a mandatory security tool for organizations of all kinds. In the age of cloud computing where data and other mission-critical assets are accessed over the cloud, the network perimeter is continuously expanding, and traditional firewalls are failing to effectively protect digital assets. Working in tandem with other security tools, cloud-based firewalls enable organizations to secure their ever-expanding network perimeter and ensure secure access to critical assets.

Based on the Solution, the Enterprise Firewall Market is segmented into Hardware and Software Services. Software Services is the segment that holds the major market growth and influencing the market growth across the globe by having a growth rate of 15-17% over the forecasted period, the growth factors of this segment are in software services the most operating systems (OSs) include a built-in firewall feature that should enable for added protection, and providing an external firewall.

Software Services in Firewall software is also available separately from your local computer store, software vendor, or ISP. If any organizations download firewall software from the internet, it is from a reputable source (i.e., an established software vendor or service provider) and offered a secure site. The advantage of software firewalls is their ability to control the specific network behavior of individual applications on a system.

A significant advantage of a software firewall is that it is typically located on the same system that is being protected. Being located on the same system can improve the firewall's ability to detect and stop malicious activity. Another possible advantage of software firewalls is that—if they have a firewall for each computer on a network—they will not need to update and manage each computer's firewall individually.

Based on Organization Size, the Enterprise Firewall Market is segmented into Small & Medium Organization and Large Organizations. Large Organizations are adopting the major market share of the Enterprise firewall market and increasing their market growth by the rate of 8% in a year because of the age of global connectivity, Large business's having assets in form of data and it is more important than any other assets nowadays, which is the major factors the various large business needs a strong firewall. Almost all businesses are connected to the Internet for a wide variety of services. These include email, search, social media, and cloud storage. With cyber-attacks on large businesses on the rise, and costing millions of dollars each year, there has never been a more important time to implement an effective firewall in their business

Based on End-User Industry, the Enterprise Firewall Market is segmented into Healthcare, Manufacturing, Government, Retail, Education, Financial Services, and Media & Communication.

Government is the major segment that holds the highest market growth by having the largest market share of 25% and the factors associated with the segment growth are government regulations and compliance requirements forcing the enterprises across the globe to opt for enterprise firewalls is a key driving factor for enterprise firewall market growth and segment growth as well. To comply with the information security standards companies must implement the highest level of security measures.

Enterprises are opting for the next-generation firewall (NGFW) to leverage the benefits of easy operation within complex networks. NGFW is best suitable for large enterprises with the complex networking infrastructure. The other factors influencing the market are governments across the world have taken several initiatives in the form of regulations regarding data security to overcome the issue of data breaches. These cyber security regulations aim to mandate that organizations defend their systems and information from cyberattacks.
Enterprise Firewall Market Regional Insights:
The North American region held the largest market share accounting for 38.4% in 2022. The region’s growth is attributed to the major factors like there has been an increase in the cybersecurity budget in the recent years of this region. Business and public organizations are investing more in securing their data, as they have been continuously trying to build comprehensive solutions to prevent hackers from attacking their networks. The rise in economic losses due to cyberattacks led to a 23% increase in cyber security spending in 2022.

According to a cyber-security report in the US, the awareness of rising cyber threats and more demanding customer requirements are driving an increase in cyber security budgets. About 87% of businesses are expected to increase spending on cyber security in the next three years, and almost 10% of companies are anticipated to double their cybersecurity budgets. Furthermore, counties like the US are continuously improving their cybersecurity spending for better safeguarding against advanced threats. This growth in cybersecurity spending is expected to create significant opportunities for the next-generation enterprise firewall market during the forecast period.

The objective of the report is to present a comprehensive analysis of the Enterprise Firewall 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 Enterprise Firewall Market dynamic and structure by analyzing the market segments and projecting the Enterprise Firewall Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Enterprise Firewall Market make the report investor’s guide.
Enterprise Firewall Market Scope: Inquire before buying



Global Enterprise Firewall Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 11.72 Bn.


Forecast Period 2023 to 2029 CAGR:
10.03%
Market Size in 2029:
US $ 22.90 Bn.


 Segments Covered:
by Deployment
On-Premise
Cloud


by Solution
Software Services
Hardware


by Organization Size
Small & Medium Organization
Large Organization


by End-User Industry
Healthcare
Manufacturing
Government
Retail
Education
Financial Services
Media & Communication



Enterprise Firewall Market, by Region
North America (United States, Canada, and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Enterprise Firewall Market, Key Players are
1.Check Point Software Technologies Ltd.
2. Cisco Systems, Inc.
3. Dell Technologies, Inc.
4. Forcepoint
5.Fortinet, Inc.
6. Huawei Technologies Co., Ltd.
7. Imperva
8. Juniper Networks, Inc.
9. Palo Alto Networks, Inc.
10. WatchGuard Technologies, Inc.
11. Extreme Networks Inc.
12. HP Development Company L.P.
13. Intel Corporation
14. AlgoSec

Frequently Asked Questions:

1] What segments are covered in the Enterprise Firewall Market report?
Ans. The segments covered in the Enterprise Firewall Market report are based on Deployment, Solution, Organization Size, and End-User Industry.

2] Which region is expected to hold the highest share in the Enterprise Firewall Market?
Ans. The north American region is expected to hold the highest share in the Enterprise Firewall Market

3] What is the market size of the Enterprise Firewall Market by 2029?
Ans. The market size of the Enterprise Firewall Market by 2029 is expected to reach USD 22.90 Bn.

4] What is the forecast period for the Enterprise Firewall Market?
Ans. The forecast period for the Enterprise Firewall Market is 2023-2029.

5] What was the market size of the Enterprise Firewall Market in 2022?
Ans. The market size of the Enterprise Firewall Market in 2022 was valued at USD 11.72 Bn.