Next generation firewalls help protect organizations from advanced threats and simplify network security management. They inspect traffic flows and packets more closely, using purpose-built security hardware. They leverage advanced threat detection techniques like artificial intelligence (AI) and machine learning (ML) to identify unknown threats and filter unapproved applications. The global Next Generation Firewall Market is estimated to be valued at US$ 5,399.0 Mn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of AI and ML capabilities by firewall vendors is a major trend driving the next generation firewall market growth. AI and ML help firewalls autonomously learn patterns of authorized network traffic and detect anomalies and threats in real-time. For example, AI-powered next generation firewalls can identify unknown or zero-day threats by analyzing traffic patterns and the context around network behaviors. They raise fewer false positives as ML continually trains models to more accurately filter legitimate traffic. With AI/ML, next generation firewalls offer more effective threat prevention without muchhuman intervention needed. This is boosting their demand across organizations for advanced network security.
Segment Analysis
The global next generation firewall market is divided into four main segments based on deployment- Cloud and On-premise. The cloud segment dominates the market and is expected to witness high growth during the forecast period owing to advantages like scalability, flexibility and low upfront costs associated with cloud-based solutions.
Key Takeaways
The global next generation firewall market is expected to witness high growth.
Regional analysis: North America dominates the next generation firewall market currently due to high cyber threats in the region compelling enterprises to adopt advanced network security solutions. Asia Pacific is expected to witness the fastest growth during the forecast period. With increasing digitization of economy, adoption of cloud and mobile technologies in countries like China and India, the demand for next generation firewalls is expected to increase rapidly in the region.
Key players operating in the global next generation firewall market are Cisco Systems, Juniper Networks, Fortinet, Palo Alto Networks, Barracuda Networks, Forcepoint, Zscaler, Watchguard Technologies, Sophos, Check Point Software Technologies, Hillstone Networks, Huawei Technologies, Untangle, Stormshield, SonicWall, NetGate, Smoothwall, Sangfor Technologies, Microsoft, and VMware. Cisco Systems currently dominates the market due to its vast product portfolio and global market presence. However, other players like Palo Alto Networks and Fortinet are gaining market share rapidly due to innovations in technology.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
