Enterprise Firewall Global Market By Service Type, By Deployment Model, By Enterprise Size, By Industry Vertical, By Regional Forecast 2024-2033 | Google LLC, Dell Inc., Intel Corporation, Cisco Systems Inc., Broadcom Inc.

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The Enterprise Firewall Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Enterprise Firewall Global Market Report 2024, The enterprise firewall market size has grown rapidly in recent years. It will grow from $12.12 billion in 2023 to $13.45 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increasing cyber threats, rising adoption of internet-connected devices, growth in e-commerce activities, expanding enterprise networks, regulatory compliance requirements.

The enterprise firewall market size is expected to see rapid growth in the next few years. It will grow to $20.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to cloud migration trends, rising demand for remote work solutions, increasing use of internet of things (iot) devices, stringent data protection regulations, growing emphasis on network security. Major trends in the forecast period include adoption of artificial intelligence in cybersecurity, integration of zero-trust security models, emphasis on user-centric security approaches, increased focus on threat intelligence sharing, development of next-generation firewall solutions.

The rise in cyberattacks is expected to propel the growth of the enterprise firewall market going forward. A cyberattack is any attempt to harm a computer, computing system, or network by getting access to it. Implementing enterprise firewalls in various enterprises provides a robust defense mechanism that significantly reduces the risk of cyber-attacks, safeguarding critical assets and sensitive information while ensuring uninterrupted business operations. For instance, in June 2022, according to the Anti-Phishing Working Group, a US-based organization, in the first quarter of 2022, the group recorded a total of 1,025,968 phishing attacks, a 15% rise from the 888,585 attacks in the fourth quarter of 2021. Therefore, the rise in cyberattacks drives the growth of the enterprise firewall market.

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The enterprise firewall market covered in this report is segmented –
1) By Solution: Hardware, Software, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Small And Medium Organizations, Large Organizations
4) By End-User: Healthcare, Manufacturing, Government, Retail, Education, Financial Services, Media, Communications, Other End-User Industries

Technological advancements are a key trend gaining popularity in the enterprise firewall market. Major companies operating in the enterprise firewall market are introducing cloud-based firewalls to sustain their position in the market. For instance, in February 2022, Juniper Networks Inc., a US-based developer and marketer of networking products, introduced Juniper Secure Edge, a cloud-delivered security solution. With the help of this new solution, enterprises could secure their workforces wherever they are by delivering Firewall-as-a-Service (FWaaS) as a single-stack software architecture. It provides unified policy management from a single UI for all security use cases with dynamic zero-trust segmentation, investment protection, and validated security effectiveness.

The enterprise firewall market report table of contents includes:
1. Executive Summary