Global Network Security Firewall Market Report 2021-2026: Low Initiative Towards Firewall Maintenance are Likely to Hinder Market Growth

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Dec 10, 2021, 08:00 ET

DUBLIN, Dec. 10, 2021 /PRNewswire/ -- The "Global Network Security Firewall Market(2021-2026) by Component, Solution Type, Signalling Firewall, SMS Firewall, Service, Deployment, Organization Size, Type, Industry Vertical, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

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

Key factors such as the rising number of cyber-attacks among different industry sectors have compelled the organizations to adopt a robust security solution to prevent and safeguard the organizational data.

This has led to a rise 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 handheld devices and other smart devices has made faster access to information. It has made sensitive data vulnerable to malicious attackers.

Therefore, organizations are willing to invest in network firewall solutions that have benefitted in augmenting the market growth. Other factors such as increasing demand for Next-gen networking solutions and the advancements in digital transformation are further promoting the development of the market.

Conversely, the budgetary constraints, the low initiative towards firewall maintenance are likely to hinder the market's growth.

Segments Covered

By Component, the market is classified as solutions and services. Amongst the two, the Solution segment is estimated to hold the highest market share. It is mainly due to the growing technological sophistication and increasing cybercrimes that it has become imperative for organizations to ensure information security. The firewalls' applications create the first line of defense in cyber security for tackling issues related to frauds and malicious attacks. Further, these solutions can help increase the overall system efficiency due to their scalability and flexibility. This has led to higher acceptance of these solutions, tending to a rise in the network security firewall market.

By Solution Type, the market can be classified as signaling firewall and SMS firewall. Amongst the two, the SMS Firewall solution is estimated to hold the highest market share. It is mainly due to the increasing adoption of A2P messaging solutions and deployment of SMS firewall solutions for malware detection etc. Also, since SMS is one of the critical means of revenue generation, many operators focus on providing SMS firewall solutions to tackle the threats related to SMS spam and other fraudulent activities. This has led to a rise in the growth of SMS firewall solutions.

By Signalling Firewall, the market is classified as SS7 firewall, Diameter firewall, and Others. Amongst all, the Diameter Firewall segment is estimated to hold the highest market share during the forecast period. Though diameter protocol ensures reliable transmission over the IP networks, data transmission from legacy networks such as GSM to LTE has led to user tracking of GSM networks via LTE networks. These attacks, known as diameter attacks, have been rising with the increasing use of LTE networks. In these cases, a diameter firewall can protect the operator's network from LTE/EPC diameter based network and prevent unauthorized networks. Besides, 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 as A2P messaging and P2A messaging. Amongst 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 the organizations to communicate the product offerings to the customers. This has also led to a rise in the illegitimate activities by cybercriminals in the A2P messaging space. Such practices can lead to a significant revenue loss to MNOs and subscribers, resulting in poor brand value for the firm and low customer experience levels. Therefore, companies invest in safeguarding their systems with an adequate network firewall to prevent such phishing attacks in the A2P space.

By Service, the market is classified as professional service and managed service. Amongst the two, the Professional Service is estimated to hold the highest market share. The professional services consist of tailored solutions such as network architecture, cloud migration services, deployment and integration, consultation services, etc. These solutions can help meet the networking needs of the telecom operators during the deployment and post the deployment. With the increasing adoption of network firewall solutions, there has been a substantial rise of professional services leading to market segment growth.

By Deployment, the Cloud-based segment is estimated to hold the highest market share. One of the reasons for the rise in the said segment is the increasing adoption of cloud-based solutions in various industry sectors such as retail, BFSI, telecom, etc., and the adoption of cloud-based web and email application platforms within the organizations leading to increased exposure to data threats. Due to this, there has been a relative rise in the demand for cloud-based security solutions to secure the business infrastructure and sensitive information from the increasing cyber-attacks. These factors have led to an increase in the cloud-based deployment model.

By Organization Size, the market is classified as large enterprises and small and medium-sized enterprises. Large Organizations hold large amounts of data and are actively present over data networks, making them vulnerable to data threats. Therefore the adoption of a network security firewall can ensure network security and safeguard the company data further. Also, since these firewalls ensure blocking unlawful access and information misuse, they prevent data violations. This has led to a rapid rise in the adoption of network security firewalls among large enterprises.

By Type, the Next Generation Firewall is estimated to hold a high market share during the forecast period. The Next Generation firewall is a robust solution providing traditional firewall technology capabilities along with the added functionality of encrypted traffic inspection, intrusion prevention, etc. Additionally, the emphasis on deep packet inspection, i.e., DPI, helps examine beyond the packet headers to the packet data information enabling the users to identify, categorize and prevent malicious data from entering.

By Industry Vertical, the BFSI sector is estimated to hold the highest market share. Since the BFSI sector has large amounts of sensitive information about the customers relating to different portfolios and conducts enormous volumes of financial transactions daily, they are highly vulnerable to data security challenges. Therefore, they are increasingly investing themselves in adopting network firewall solutions to ensure additional safeguards to data and avoid data misuse. This is likely to result in market segment growth.

Market Dynamics

Drivers

Increasing Importance of Network Security and Privacy across Organizations
High Penetration of Connected Devices
Implementation of Next-Generation Networking Technologies
Advancement of Digital Transformation in the Telecommunications Industry

Restraints

Lack of Preventive Firewall Maintenance
Budget Constraints
Absence of Basic Network Firewall Restoration

Opportunities

Growth in Investment to Improve the Network Security Measures
Growing Demand for SMS firewalls
Increasing Adoption of Network Function Virtualization
Increasing Government Regulations

Challenges

Growing Grey Route Fraudulent Mechanism

Companies Mentioned

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
Openmind Networks
BICS SA
Watchguard Technology Inc.
Palo Alto Networks Inc
Omobio Pvt Ltd.
Symsoft
Mobilium Inc
Hewlett Packard Enterprise Development LP
Tata Communications.
SonicWall
Barracuda Networks, Inc

For more information about this report visit https://www.researchandmarkets.com/r/qrg28y

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