Next-Gen Firewall Market is Estimated to Grow at a CAGR of 8.8% from 2022 to 2032 : Says FMI

According to Future Market Insights (FMI), the adoption of the next-gen firewall market is estimated to grow at a CAGR of 8.8% from 2022-2032. Next-Gen Firewall Market is expected to reach ~US$ 7.6 Bn by 2032.

Sales in the market are expected to reach a valuation of ~US$ 3.3 Bn by the end of 2022. As per FMI, companies are building security directly into IoT devices before implementing the hardware into the system.

The rise in data hacking activities and cyber-attacks is encouraging enterprises to focus on the detection of better security solutions. Hence, demand for next-gen firewall systems for securing information deployed on the cloud and for strengthening the security structure of the company is increasing.

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Moreover, large organizations are taking initiatives to implement next-gen firewalls for their business applications which are deployed on cloud, and helping other small enterprises to understand the usage of next-gen firewall capabilities, and internet security threats.

Key Takeaways: Next-Gen Firewall Market

  • By type, the virtual appliance segment is estimated to grow at a robust CAGR of 9.9% through 2032.
  • Among the enterprise size, SMEs segment is estimated to grow by 3.0X during the forecast period.
  • By industry, the healthcare segment is anticipated to increase at a CAGR of 11.5% between 2022 & 2032.
  • North America region is expected to dominate next-gen firewall market followed by Europe in 2022.
  • South Asia & Pacific is estimated to be the fastest growing region during the forecast period.
  • The U.S. market is expected to witness growth at a CAGR of around 4.6% through 2032.
  • In India, the next-gen firewall market is expected to grow by 4.4x during the forecast period.
  • Next-gen firewall market in China is estimated to witness an absolute $ opportunity of US$ 281 Mn in the forecast period.

Demand for Email Security to Boost the Adoption of Next-Gen Firewall Systems

Among enterprises, email security is a primary concern. Working culture among enterprises is changing, hence employees are using their personal devices for accessing business emails outside the organizations.

Next-gen firewall solutions help the organization in filtering emails with viruses on networks before the email reaches in an internal network of the organization.

Moreover, next-gen firewall helps to streamline email security tools by transferring them into single cloud service. Hence, enterprises are adopting next-gen firewall solution for improving the email security and thereby the demand is increasing for next-gen firewall solutions.

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Next-Gen Firewall Outlook by Category

By Type:

  • Physical NGFW Appliance
  • Virtual NGFW Appliance

By Enterprise Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

By Industry:

  • IT & Telecom
  • BFSI
  • Healthcare
  • Manufacturing
  • Retail
  • Government
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)