Global Network Security Firewall Market Report 2021

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Dublin, 08 Dec. 2021 (GLOBE NEWSWIRE) — The “Global Network Security Firewall Market (2021-2026) by Component, Solution Type, Signaling Firewall, SMS Firewall, Service, Deployment, Organization Size, Type, Industry Vertical, Geography, competitive analysis and impact of COVID-19 with Ansoff analysis” report has been added to from ResearchAndMarkets.com offer.

The Global Network Security Firewall Market is estimated to be valued at USD 4.37 Billion in 2021 and is projected to reach USD 8.6 Billion by 2026, growing at a CAGR of 14.9%.

Key factors such as the growing number of cyberattacks in different industry sectors have compelled organizations to adopt a robust security solution to prevent and protect organizational data.

This has led to an increase in the demand for several network security solutions such as network security firewall solutions and related security solutions. The increase in the global penetration rate of connected devices such as wearables and other smart devices has enabled faster access to information. It made sensitive data vulnerable to malicious attacks.

Hence, organizations are willing to invest in network firewall solutions which have benefited from the increase in market growth. Other factors such as growing demand for next-generation networking solutions and advancements in digital transformation are further supporting the development of the market.

Conversely, budgetary constraints, the weak firewall maintenance initiative are likely to slow down market growth.

Segments Covered

By component, the market is categorized into solutions and services. Among the two, the Solution segment is estimated to hold the highest market share. It is mainly due to increasing technological sophistication and increasing cybercrime that it has become imperative for organizations to ensure information security. Firewall applications create the first line of cybersecurity defense to address issues related to fraud and malicious attacks. Additionally, these solutions can help increase overall system efficiency due to their scalability and flexibility. This has led to greater acceptance of these solutions, tending to an increase in the network security firewall market.

By type of solution, the market can be categorized as signaling firewall and SMS firewall. Among the two, the SMS Firewall solution has the highest market share. This is mainly due to the increasing adoption of A2P messaging solutions and the deployment of SMS firewall solutions for malware detection, etc. SMS spam and other fraudulent activity. This has led to an increase in the growth of SMS firewall solutions.

By signaling firewalls, the market is categorized as SS7 firewalls, Diameter firewalls and others. Among all, Diameter Firewall segment is estimated to hold the highest market share during the forecast period. Although the diameter protocol provides reliable transmission over IP networks, data transmission from legacy networks such as GSM to LTE has led to the tracking of GSM network users through LTE networks. These attacks, called diameter attacks, have increased with the increasing use of LTE networks. In these cases, a diameter firewall can protect the operator’s network from the diameter-based LTE/EPC network and prevent unauthorized networks. Additionally, these firewalls can also identify a wide range of attacks before any damage is done. These factors are likely to drive the growth of the market segment.

By SMS Firewall, the market is classified into A2P messaging and P2A messaging. Among the two, the A2P messaging segment is estimated to hold the highest market share. This is mainly due to the high adoption of A2P platforms by organizations to communicate product offerings to customers. This has also led to an increase in illegitimate activities by cyber criminals in the A2P messaging space. Such practices can result in significant revenue loss for MNOs and subscribers, leading to poor brand value for the business and low levels of customer experience. Therefore, companies invest in protecting their systems with an adequate network firewall to prevent such phishing attacks in the A2P space.

By service, the market is categorized as professional service and managed service. Among the two, professional service is estimated to hold the highest market share. Professional services consist of tailored solutions such as network architecture, cloud migration services, deployment and integration, consulting services, etc. These solutions can help meet the networking needs of telcos during deployment and post-deployment. With the increasing adoption of network firewall solutions, there has been a substantial increase in professional services leading to the growth of the market segment.

By deployment, the cloud-based segment is estimated to hold the highest market share. One of the reasons for the rise of the said segment is the growing adoption of cloud-based solutions in various industry sectors such as retail, BFSI, telecommunications, etc., and the adoption of platforms cloud-based web and email applications within organizations. leading to increased exposure to data threats. For this reason, there has been a relative increase in the demand for cloud-based security solutions to secure corporate infrastructure and sensitive information against increasing cyberattacks. These factors have led to an increase in the cloud-based deployment model.

By organization size, the market is categorized into large enterprises and small and medium enterprises. Large organizations hold large amounts of data and are actively present on data networks, making them vulnerable to data threats. Therefore, adopting a network security firewall can ensure network security and further protect corporate data. Moreover, since these firewalls ensure the blocking of illegal access and misuse of information, they prevent data breaches. This has led to a rapid increase in the adoption of network security firewalls among large enterprises.

By type, Next Generation Firewall is estimated to hold a high market share during the forecast period. Next-Generation Firewall is a robust solution offering traditional firewall technology capabilities along with additional functionality for encrypted traffic inspection, intrusion prevention, and more. data information that allows users to identify, categorize and prevent the entry of malicious data.

According to Industry Vertical, the BFSI sector is estimated to hold the highest market share. Since the BFSI sector has large amounts of sensitive customer information relating to different wallets and conducts huge volumes of financial transactions daily, it is highly vulnerable to data security issues. Therefore, they are increasingly investing in adopting network firewall solutions to provide additional protections to data and prevent misuse of data. This will likely result in the growth of the market segment.

Market dynamics

Drivers

  • Growing importance of network security and privacy in organizations
  • Strong penetration of connected devices
  • Implementing Next Generation Networking Technologies
  • Advancement of digital transformation in the telecommunications industry

Constraints

  • Lack of preventive firewall maintenance
  • Budget constraints
  • Lack of basic network firewall restore

Opportunities

  • Investment growth to improve network security measures
  • Growing demand for SMS firewall
  • Increased Adoption of Network Functions Virtualization
  • Increase government regulations

Challenges

  • Growing Gray Road Fraudulent Mechanism

Companies cited

  • SAP SE
  • Cisco System Inc.
  • Mobelium Inc.
  • Adaptive Mobile Security
  • AMD Telecom SA
  • ANAM Technologies
  • Fortinet, Inc.
  • Check Point Software Technologies Ltd.
  • Sophos Ltd
  • Juniper Networks, Inc.
  • Cellusys
  • Open-minded networks
  • BICS SA
  • Watchguard Technology Inc.
  • Palo Alto Networks Inc
  • Omobio Pvt Ltd.
  • Symsoft
  • Mobilium Inc.
  • Hewlett Packard Enterprise Development LP
  • Tata Communications.
  • sonic wall
  • Barracuda Networks, Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/9su8pa


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