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Next-Generation Firewall Market Trends

Report ID: GMI8548
Published Date: Mar 2024
Report Format: PDF

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Next-Generation Firewall Market Trends

The next-generation firewall industry has witnessed significant technological advancements. Advancements in Artificial Intelligence (AI) and Machine Learning (ML) allow next-generation firewalls to analyze network traffic patterns, detect and block even sophisticated zero-day attacks and malware variants in real-time, and continuously learn and adapt to evolving cyber threats, resulting in effective and comprehensive security. Advancements in hardware and software enable next-generation firewalls to handle higher network traffic volumes caused by cloud adoption and the expanding number of connected devices, as well as execute complicated security tasks without sacrificing performance or introducing delay.

For instance, In November 2023, Palo Alto Networks partnered with Amazon Web Services (AWS) to launch the Palo Alto Networks Cloud Next Generation Firewall (NGFW) for AWS. This solution combines Palo Alto Networks' security with AWS's scale, offering advanced security features to organizations deploying applications on AWS. The Palo Alto Networks Cloud NGFW for AWS is a managed service that handles deployment, maintenance, availability, and scaling, allowing organizations to focus on their core business.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of next-generation firewall reached USD 4.8 billion in 2023 and is set to witness 7.5% CAGR between 2024 and 2032, led by digital transformation and increasing cloud adoption.

The software segment was valued at over USD 2 billion in 2023, as it eliminates the requirement for specific hardware appliances, resulting in a considerable reduction in initial cost as compared to traditional hardware-based systems.

North America market held a major revenue share of over 35% in 2023, as the corporations in the region are at the forefront of implementing new technologies such as cloud computing, Big Data, and the Internet of Things (IoT).

Check Point Software Technologies, Cisco, Fortinet, Huawei Technologies, IBM, Juniper Networks, McAfee, LLC, Palo Alto Networks, Seqrite, SonicWall Inc. are some of the major industry contenders.