The global next-generation firewall market is anticipated to grow at a significant CAGR during the forecast period. The next-generation firewall (NGFW) has new features such as in-line deep packet inspection (DPI), application-level traffic inspection, and intrusion prevention (IPS). The expansion of the global next-generation firewall market is fueled by an increase in the IoT-based complex threat landscape, an increase in the number of data breach incidents, and a surge in demand for NGFW solutions backed by severe government laws for data safety and security.

Due to the increase in demand for advanced cyber security solutions, the emergence of an IoT-based complex threat landscape, and the enforcement of severe government data security rules are driving the global next-generation firewall market. Additionally, performance concerns related to next-generation firewall solutions in cloud protection, and scarcity of trained specialists will further boost the market's growth. Furthermore, the market is expected to benefit from the increase in digital security spending as well as the emergence of the firewall as a service during the forecast period.

Cyberattacks have become more sophisticated, according to more than two-thirds of SMBs. Cybercriminals have access to various plug-and-play options, which are typically pieced together for complex malware campaigns. Exploit builder kits, such as GrandCab and ThreadKit, are updated daily with the latest attack tactics, rendering traditional security technologies ineffective in defending enterprises and their data. To address the issue of data breaches, governments around the globe have implemented several efforts in the form of rules. The goal of this cyber security legislation is to make it mandatory for businesses to protect their systems and data from intrusions.

Market Coverage

• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered- 

o By Solution

o By Service

o By Vertical

• Competitive Landscape: Barracuda Networks, Check Point, Cisco Syatems Inc., Forcepoint, Fortinet, Huawei.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominates the market in base year?
• Which segment and region will project fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from pre-COVID forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Next-Generation Firewall  Market by Segments

By Solution

• Hardware
• Virtual
• Cloud

By Service

• Professional Service
• Consulting Service
• Support and Maintenance
• Training and Education
• System Integration
• Managed Service

By Vertical

• Banking, Financial Services, and Insurance (BFSI)
• Retail
• IT and Telecom
• Government and Public Utilities
• Healthcare

Global Next-Generation Firewall  Market by Region