The Europe Next Generation Firewall Market would witness market growth of 13.0% CAGR during the forecast period (2023-2030).
The rising prevalence of remote work and the trend of cloud-based applications have accelerated the demand for NGFWs. The traditional perimeter-based security model has become obsolete, with employees accessing corporate networks from diverse locations and devices. NGFWs, designed to secure both on-premises and cloud environments, offer a seamless and unified security approach. This adaptability to the evolving work landscape has contributed significantly to the widespread adoption of NGFWs across industries.
One of the key drivers behind the widespread adoption of NGFWs is the imperative need for holistic threat protection. As cyber threats become more intricate, traditional firewalls fall short of providing the level of defense required to thwart sophisticated attacks. NGFWs, equipped with advanced threat intelligence and real-time monitoring, empower organizations to proactively identify and mitigate potential threats before infiltrating the network. This proactive defense mechanism has propelled the adoption of NGFWs as a cornerstone in modern cybersecurity frameworks.
European industries are actively embracing Industry 4.0, which involves the integration of digital technologies, IoT, and automation into manufacturing processes. This leads to an increased deployment of connected sensors, actuators, and devices on the factory floor. Many European cities invest in smart city initiatives to enhance urban living, sustainability, and efficiency. Therefore, the growing usage of internet-connected devices in Europe will boost the demand for next-generation firewalls in the region, as internet-connected devices are susceptible to cyber-attacks.
The Germany market dominated the Europe Next Generation Firewall Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $860.4 Million by 2030. The UK market is exhibiting a CAGR of 12.1% during (2023 - 2030). Additionally, The France market would experience a CAGR of 13.9% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Next Generation Firewall Market will Hit $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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