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Firewall as a Service Market: Projected for Healthy Growth Rate During the Forecast Period 2020 - 2024

Author : Ronak Bora | Published Date : 2020-09-11 

Firewall as a Service market is estimated to surpass USD 2.5 billion by 2024. The firewall solutions are being used by organizations to protect end-to-end web application and database of customer information and business. FWaaS enables fast and secure local Internet breakouts for all ports and protocols, without the use of hardware appliances. It elastically handles all the cloud application traffic, bringing the entire security stack closer to offer protection no matter where they connect. The solutions keep the network secure, depending on the needs of the customer; the solutions are integrated with next-generation appliances.

Speaking of the regional distribution of firewall as a Service market, North America has the largest market size and is presumed to grow at a higher rate owing to its network security infrastructure, heightened awareness and the speedy adoption of latest cutting-edge cybersecurity technology. The Asia Pacific FWaaS market, which has the highest number of SME’s, is expected to thrive in the coming few years as the increased awareness, security infrastructure and technology adoption acquire significance.

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The increase in initiatives by government to improve the security of the customer information and cyber-attacks is a major factor driving the FWaaS growth. Rapid digitization, improvement in business, and growth of cyber-attacks on BFSI, healthcare, and retail industry in developing countries such as India and China, has led to an increase in the use of security solutions. Organizations are working closely with security associations to form new regulatory and offer customized suite and packages to enterprises which are more prone to attacks. According to industry experts, cybercrime will cost more than USD 1 trillion globally by 2020, impacting the global economy, thus, will drive the firewall as a Service market in the forecasted period. In addition, the development of Next-Generation Firewall (NGFW) is going to change the market landscape with capabilities such as DPI, API, SSL inspection, filtering, and IPS, improving the cloud firewall opportunity for these solutions.

The recent trend of the increasing collaboration of firewall service providers and pure software vendors is seen to be growing. These proactive and dynamic prospects are vividly underlining the competitive and strategic landscape of firewall as a service industry. To cite an instance, Tata Consultancy Services, a dominant Indian IT service provider, has recently teamed up with US-based security firm Palo Alto Networks to assist enterprises to reliably transfer applications and data to the public cloud infrastructure. The Global Security Operations Centres of TCS will be leveraged to keep a tab on the sophisticated and complex cyber-threats and ward off malicious cyber-attacks trying to inflict organizations. Furthermore, Firewall as a Service market is striving to be a combative market as the leading players are continuing their efforts to integrate with cloud companies to cater to a wider range of customers.

As enterprises are willing to invest in upgrading and refining the cloud security and automation of firewalls, the firewall management software market will obtain a much-required boost. If the recent news reports are to be believed, the hackers are making a concerted effort to reverse-engineer devices and apps. A simple misconfiguration would expose a serious vulnerability in the network of any enterprise. The loopholes include downtime, irregular optimization of firewalls, and infringement of policy guidelines. In response, the firewall management softwares like the Next Generation Firewall (NGFW) is set to make a rather pronounced impact in the firewall as a service market, courtesy its multifunctional security potential.

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Some of the key participants in the firewall as a Service market include CheckPoint, Fortinet, Palo Alto Networks, Cisco, Juniper Networks, Tufin, AlgoSec, FireMon, and SkyBox Security. The industry is characterized by presence of firewall appliance providers, security providers, network providers, cloud providers, and management software providers.

Table of Contents (ToC) of the report:

Chapter 1.   Methodology & Scope

1.1.  Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and research parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2.   Executive Summary

2.1.   Firewall as a Service Market 360º synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Product trends

2.1.4. Application trends

2.1.5. Service model trends

2.1.6. Delivery model trends

Chapter 3.   Firewall as a Service Market Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 - 2024

3.3.  Industry ecosystem analysis

3.4.  Technology & innovation landscape

3.4.1. Virtualization firewalls

3.4.2. Web application firewallS

3.5.  Regulatory landscape

3.5.1. Payment Card Industry Data Security Standard (PCI DSS)

3.5.2. The Gramm-Leach-Bliley Act (GLB) Act of 1999

3.5.3. Federal Information Security Management Act (FISMA)

3.5.4. North American Electric Reliability Corp. (NERC) standards

3.5.5. Health Insurance Portability and Accountability Act (HIPAA)

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1 Growing cybercrimes in North America

3.6.1.2 Regulatory Compliance

3.6.1.3 Increase in demand for network security in Asia Pacific

3.6.2. Industry pitfalls & challenges

3.6.2.1 Lack of concern towards security

3.6.1.2 Penetration confined to large enterprises

3.7.  Growth potential analysis

3.8.  Porter's analysis

3.9.  Competitive landscape, 2016

3.9.1. Strategy dashboard

3.10.    PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/firewall-as-a-service-fwaas-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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