Next-generation Firewall Market Size Worth $11.78 Billion By 2032 | CAGR: 10.8%

The global next-generation firewall market size is expected to reach USD 11.78 billion by 2032, according to a new study by Polaris Market Research. The report “Next-generation Firewall Market Share, Size, Trends, Industry Analysis Report, By Vertical (Manufacturing, Healthcare, BFSI); By Deployment Mode; By Organization Size; By Offering; By Application;  By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Next-generation firewalls are part of the third generation of firewall technology, designed to protect organizations from advanced security threats at the application level. They combine traditional firewall capabilities with other technologies to enable better decision-making about internet access. Factors such as the rapid growth of the Internet of Things (IoT) and increasing internal and external threats are driving the demand for next-generation firewall solutions and services.

The COVID-19 pandemic had a beneficial effect on the next-generation firewall market. Lockdown measures led to increased internet access and the use of IoT devices, which in turn resulted in a higher number of cyber-attacks. With the majority of organizations mandating work from home during the pandemic, there was a further increase in demand for robust security solutions. Consequently, enterprises adopted next-generation firewall solutions to enhance security for their valuable data and information, protecting them from cyber threats and unauthorized data theft.

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As the use of cloud-based infrastructures becomes more prevalent across industries, organizations are prioritizing the security of their cloud operations. This surge in cloud adoption has created a need for Next-Generation Firewalls (NGFWs) to bolster security. Cloud services, such as Software as a Service (SaaS) and Infrastructure as a Service (IaaS), require robust security measures to safeguard sensitive data and applications. NGFWs play a vital role in cloud security strategies as they can inspect application usage, encrypted traffic, and detect sophisticated threats. Major cloud providers such as AWS and Microsoft Azure advocate for the integration of NGFWs to enhance protection. The shared responsibility model in cloud security emphasizes the importance of customers implementing NGFWs to improve their security posture. As the demand for secure and compliant cloud environments grows with the increasing adoption of cloud for its scalability and efficiency, the need for NGFWs intensifies.

Next-generation Firewall Market Report Highlights

• The healthcare segment is projected to grow at the fastest CAGR during the projected period, owing to healthcare organizations increasingly relying on technology to store and transmit sensitive patient data, making them vulnerable to cyberattacks.
• The cloud/virtual segment is anticipated to grow at the fastest CAGR since it addresses vital business demands; cloud-based NGFWs are propelling growth in the next-generation firewall industry. These systems are scalable and agile, easily adjusting to changing security requirements and dynamic situations.
• North America holds a significant revenue share in the global Next-generation Firewall market, driven by major leading NGFW vendors such as Fortinet, Check Point Software Technologies, and Palo Alto Networks, creating a thriving ecosystem for NGFW development and adoption.
• The global key market players include Palo Alto Networks, Cisco, Fortinet, Check Point, Juniper Networks, Barracuda Networks, SonicWall, Zscaler, Forcepoint, Hillstone Networks, Versa Networks and NordLayer.

Polaris Market Research has segmented the next-generation firewall market report based on vertical, deployment mode, organization, offering, application, and region:

Next-generation Firewall, Vertical Outlook (Revenue - USD Billion, 2019 - 2032)

• Manufacturing
• Healthcare
• BFSI
• Government
• Energy & Utilities
• Telecommunications
• Retail & E-commerce
• IT & ITeS
• Others

Next-generation Firewall, Deployment Mode Outlook (Revenue - USD Billion, 2019 - 2032)

• Cloud/Virtual
• On-Premises

Next-generation Firewall, Organization Outlook (Revenue - USD Billion, 2019 - 2032)

• Small & Medium Enterprises
• Large Enterprises

Next-generation Firewall, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

• Hardware
• Software
• Services

Next-generation Firewall, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Advanced Treat Protection
• Application Visibility & Control
• Intrusion Detection & Prevention System (IDS/IPS)
• SSL/TLS Inspection
• Content Filtering        
• User & Identity Awareness
• Others

Next-generation Firewall, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of Middle East & Africa

Next-generation Firewall Market Report Scope