DUBLIN, December 10, 2021 / PRNewswire / – 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 “ the report was added to ResearchAndMarkets.com‘s offer.
The global network security firewall market is estimated at $ 4.37 billion in 2021 and should reach $ 8.6 billion by 2026, with a CAGR of 14.9%.
Key factors such as the increasing number of cyber attacks 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 demand for several network security solutions, such as network security firewall solutions and related security solutions. The increasing global penetration rate of connected devices such as wearable devices and other smart devices has made access to information faster. It made sensitive data vulnerable to malicious attackers.
Hence, organizations are ready to invest in network firewall solutions which have helped increase market growth. Other factors such as the growing demand for next-generation networking solutions and advancements in digital transformation further drive the development of the market.
Conversely, budgetary constraints and the weak firewall maintenance initiative are likely to slow down market growth.
By component, the market is categorized into solutions and services. Of the two, the Solution segment is estimated to have 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 combat 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, leading to an increase in the market for network security firewalls.
By type of solution, the market can be categorized into signaling firewall and SMS firewall. Among the two, the SMS Firewall solution is estimated to have 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. Moreover, as SMS is one of the essential means of revenue generation, many operators are focusing on providing SMS firewall solutions to combat threats related to SMS spam and other fraudulent activities. This has led to an increase in the growth of SMS firewall solutions.
By Signaling Firewall, the market is classified as SS7 firewall, Diameter firewall, and others. Among all, Diameter Firewall segment is expected to hold the highest market share during the forecast period. Although the Diameter protocol ensures reliable transmission over IP networks, data transmission from legacy networks such as GSM to LTE has led to the tracking of users of GSM networks 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 network operator’s network based on LTE / EPC diameter and prevent unauthorized networks. In addition, these firewalls can also identify a wide range of attacks before any damage is done. These factors are likely to lead to the growth of the market segment.
By SMS Firewall, the market is classified into A2P messaging and P2A messaging. Of the two, the A2P messaging segment holds the highest market share. This is mainly due to the high adoption of A2P platforms by organizations to communicate product offerings to customers. It has also led to an increase in illegitimate activities of cyber criminals in the A2P messaging space. Such practices can result in significant revenue loss for mobile network operators and subscribers, resulting in low 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 classified into professional service and managed service. Of the two, professional service is estimated to have the highest market share. Professional services consist of tailor-made solutions such as network architecture, cloud migration services, deployment and integration, consulting services, etc. These solutions can help meet the networking needs of telecommunications operators during and after 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 have the highest market share. One of the reasons for the rise of this segment is the increasing adoption of cloud-based solutions in various industry sectors such as retail, BFSI, telecom, etc., and adoption of platforms. cloud-based email and web 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 business infrastructure and sensitive information against growing cyber attacks. 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 to 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. Additionally, because these firewalls block illicit 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, the next generation firewall is expected to hold a high market share during the forecast period. Next Generation Firewall is a robust solution offering traditional firewall technology capabilities as well as additional functionality for encrypted traffic inspection, intrusion prevention, and more. data information allowing users to identify, categorize and prevent malicious data entry.
By Industry Vertical, the BFSI sector is estimated to have the highest market share. Since the BFSI industry has large amounts of sensitive information about clients related to different portfolios and performs huge volumes of financial transactions on a daily basis, they are very vulnerable to data security issues. As a result, they are increasingly investing in the adoption of network firewall solutions to provide additional protections to data and prevent misuse. This should lead to growth of the market segment.
- Growing importance of network security and privacy in organizations
- High penetration of connected devices
- Implementation of next-generation networking technologies
- Advancing digital transformation in the telecommunications industry
- Lack of preventive firewall maintenance
- Budget constraints
- No basic network firewall restore
- Growth in investments to improve network security measures
- Growing demand for SMS firewalls
- Growing adoption of network function virtualization
- Increase in government regulations
- Growing Gray Road Fraudulent Mechanism
- SAP SE
- Cisco System Inc
- Mobelium inc.
- Adaptive mobile security
- AMD Telecom SA
- ANAM Technologies
- Fortinet, Inc
- Check Point Software Technologies Ltd
- Sophos SA
- Juniper Networks, Inc
- Open-minded networks
- BICS SA
- Watchguard Technology Inc.
- Palo Alto Networks Inc
- Omobio Pvt Ltd.
- Mobilium inc
- Hewlett Packard Enterprise Development LP
- Tata Communications.
- Barracuda Networks, Inc
For more information on this report, visit https://www.researchandmarkets.com/r/qrg28y
Research and markets
Laura Wood, senior
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