According to a new report, published by KBV research, The Global Firewall As A Service Market size is expected to reach $8.4 billion by 2028, rising at a market growth of 20.6% CAGR during the forecast period.
The Small & Medium Enterprises segment is showcasing a CAGR of 22.8% during (2022 - 2028). It can be linked to small and medium-sized businesses' growing tendency to adopt hybrid platforms to improve decision-making, increase scalability, streamline time-consuming procedures, and introduce cost-efficiency.
The Compliance & Audit Management segment acquired maximum revenue share in the Global Firewall As A Service Market by Type in 2021 thereby, achieving a market value of $1.8 billion by 2028. The segment growth is result of the surge in cyberattacks and the growing need to protect sensitive data, businesses need network security policies, methods, and systems that adhere to legal regulations and industry standards.
The Software as a Service segment has shown the growth rate of 21.2% during (2022 - 2028). Because it is adaptable and lowers operating expenses, the technical team can better manage duties like installing, maintaining, and updating software.
The Public Cloud segment is leading the Global Firewall As A Service Market by Deployment Model in 2021 thereby, achieving a market value of $4.2 billion by 2028. This market's expansion is mostly attributable to the growing number of cloud-based solutions that businesses of all sizes are adopting in an effort to lower their security risks and concentrate on their core business operations. Flexibility, cost-effectiveness, scalability, ease of deployment, and increased security are a few of the elements driving the increase in demand for the public deployment method.
The Retail segment is poised to grow at a CAGR of 21% during (2022 - 2028). Due to the growing use of hybrid platforms by retail businesses and the resulting rise in demand for the firewall as a service to stop fraud and data breaches, this market segment is expected to increase. In addition to this, the e-commerce industry is continuously expanding further rising the need for firewall as a service in this segment.
The North America market dominated the Global Firewall As A Service Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.8 billion by 2028. The Europe market is exhibiting a CAGR of 19.8% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 21.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/firewall-as-a-service-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cisco Systems, Inc., Juniper Networks, Inc., Fortinet, Inc., Zscaler, Inc., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Sophos Group PLC (Thoma Bravo), Cato Networks Ltd., Forcepoint LLC (Francisco Partners), and Barracuda Networks, Inc. (Thoma Bravo)
By Enterprise Size
By Type
By Service Model
By Deployment Model
By Vertical
By Geography
Companies Profiled
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