Global Report on Next-Generation Firewall Market Size, Share, Forecast to 2024-2032

Next-Generation Firewall Market: Improving Network Security Infrastructures

With the world going digital faster than ever, cyberattacks are a real threat. Businesses are depending more and more on technology. Therefore, safeguarding their important information and assets with a strong and dependable security system is essential. That’s where next-generation firewalls come in.

Well, we all have heard the term "next-generation firewall," but since this technology is still relatively new, some of us are unsure of what it means and how it differs from a regular firewall. This article discusses what a next-generation firewall is and how it can help protect your network from threat actors. Also, let’s have a quick look at why the next-generation firewall market demand is expanding.

What is a Next-Generation Firewall?

A network security tool with characteristics above and beyond those of a conventional, stateful firewall is called a next-generation firewall, or NGFW. These extra features include application awareness and control, incorporated intrusion prevention, and cloud-delivered hazard intelligence. In contrast, a classic firewall usually offers stateful inspection of incoming and outgoing network traffic.

Market Outlook

Global next-generation firewall market size was valued at USD 4.79 billion in 2023 and is anticipated to grow from USD 5.18 billion in 2024 to USD 11.78 billion by 2032, exhibiting a CAGR of 10.8% during the forecast period of 2024- 2032.

Types of Next-Generation Firewalls

There are three sorts of NGFWs relying on the methodology of delivering the protection and authority capabilities of the solution:

  1. Software-Based NGFW
  2. Cloud-Based NGFW
  3. Hardware-Based NGFW

Industry Growth Factors

The next-generation firewall market size is rising globally due to an increase in cyberattacks and data breaches in enterprises. Since they regularly result in the loss of important customer and business data, these instances expose the flaws in the current network security architecture. Next-generation firewalls, or NGFWs, offer advanced threat protection features, including malware analysis, application control, and intrusion prevention, to reduce the possibility of such assaults. Their combined security features give more protection than traditional firewalls.

Furthermore, companies are compelled to adopt NGFWs because of regulations pertaining to data security and privacy that have been implemented by some governments worldwide.

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Benefits of Next-Generation Firewall

Next-generation firewalls can safeguard a company's interests in the following ways in addition to improving security systems generally:

  • User and content identification
  • Advanced policy control
  • Flexible management and deployment options
  • Comprehensive network visibility
  • Fastest time to detection

Market’s Competetive Landscape

The development of the next-generation firewall market is fragmented, and the presence of multiple companies is expected to cause rivalry. The industry's leading service providers are always updating their technology to maintain an edge over rivals and to guarantee effectiveness, reliability, and security. Here are some of the major players operating in the industry:

  • Barracuda Networks
  • Check Point
  • Forcepoint
  • Hillstone Networks
  • NordLayer
  • SonicWall
  • Versa Networks
  • Juniper Networks
  • CrowdStrike
  • Cato Networks

The Bottom Line

A rapidly expanding section of the cybersecurity industry, the next-generation firewall market is being propelled by the growing requirement for enterprises to defend themselves against increasingly complex cyber threats. Also, compared to conventional firewalls, NGFWs can offer more thorough protection against a greater variety of threats because of these capabilities.

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