The Asia Pacific Next Generation Firewall Market would witness market growth of 14.0% CAGR during the forecast period (2023-2030).
The applications of next generation firewalls extend far beyond traditional network security. These dynamic security solutions have become integral to safeguarding the entire digital ecosystem of organizations, encompassing networks, applications, and endpoints. At its core, NGFWs excel in fortifying network security by combining traditional firewall capabilities with advanced features like deep packet inspection and intrusion prevention systems. This multifaceted approach enables organizations to create granular security policies, allowing or blocking specific applications and content based on contextual information. As a result, the risk of unauthorized access and data breaches is significantly reduced.
Furthermore, the rise of web-based applications and the proliferation of Software-as-a-Service (SaaS) platforms have underscored the need for application-layer security. NGFWs, with their ability to identify and control applications traversing the network, empower organizations to manage the use of applications and enforce policies based on user behavior. This holistic approach ensures that every entry point into the network is fortified against potential threats, irrespective of the device's location.
Many countries in the APAC region have developed or enhanced their national cybersecurity strategies to address evolving cyber threats. Reserve Bank of India published a report, Technology Vision for Cyber Security for Urban Cooperative Banks – 2020 - 2023, with the vision of enhancing the cyber security posture of the Urban Cooperative banking sector against evolving IT and cyber threat environment through a five-pillared strategic approach GUARD., viz., - governance oversight, utile technology investment, appropriate regulation and supervision, robust collaboration and developing necessary IT, cyber security skills set. Therefore, increasing cybersecurity measures in banking and other sectors in major countries of Asia Pacific is expected to increase the demand for next generation firewalls in the region.
The China market dominated the Asia Pacific Next Generation Firewall Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $971.1 Million by 2030. The Japan market is registering a CAGR of 13.2% during (2023 - 2030). Additionally, The India market would experience a CAGR of 14.7% during (2023 - 2030).
Based on Vertical, the market is segmented into BFSI, Retail & eCommerce, IT & Telecom, Government & Public Utilities, Healthcare & Lifesciences, Energy & Utilities, Education and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Type, the market is segmented into Solution (Hardware, Virtual and Cloud) and Services (Professional and Managed). Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Next Generation Firewall Market is Predict to reach $12.9 Billion by 2030, at a CAGR of 13.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Cisco Systems Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Barracuda Networks, Inc. (KKR & Co. Inc.), Fortinet, Inc., Sonicwall, Inc, Raytheon Technologies Corporation, Juniper Networks, Inc., Hillstone Networks, Sophos Group PLC (Thoma Bravo)
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