According to a new report, published by KBV research, The Global Next Generation Firewall Market size is expected to reach $12.9 billion by 2030, rising at a market growth of 13.2% CAGR during the forecast period.
The Retail & eCommerce segment is experiencing a CAGR of 14.3% during (2023 - 2030). Cyber threats frequently target the retail industry on account of the substantial volume of consumer data, financial transactions, and sensitive information that is routinely processed. As cyber threats become more sophisticated, retailers invest in advanced security solutions like NGFWs to protect their networks from cyberattacks. These aspects will pose lucrative growth prospects for the retail segment.
The Large Enterprises segment is leading the Global Next Generation Firewall Market by Organization Size in 2022 thereby, achieving a market value of $9 Billion by 2030. Large enterprises typically have complex and extensive network infrastructures due to their scale and diverse operations. NGFWs, with their advanced features such as deep packet inspection, intrusion prevention, and application-layer filtering, are well-suited in addressing the complexities of large-scale network environments. This complexity is a key driver for adopting NGFWs among large enterprises. These aspects will pose lucrative growth prospects for the large segment.
The Services segment is registering a CAGR of 14.8% during (2023 - 2030). As organizations strive to maximize the effectiveness of their NGFW investments, the demand for professional services such as consulting, implementation, and customization has surged. Service providers are crucial in assisting organizations in tailoring NGFW solutions to their specific needs, ensuring seamless integration into existing IT infrastructures. As a result, there will be an increased demand in the segment.
The North America region dominated the Global Next Generation Firewall Market by Region in 2022, thereby achieving a market value of $5 Billion by 2030, growing at a CAGR of 12.5 % during the forecast period. The Europe region is experiencing a CAGR of 13% during (2023 - 2030). Additionally, The Asia Pacific region would experience a CAGR of 14% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/next-generation-firewall-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., 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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