Portland, OR, July 02, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global next-generation firewall market was estimated at $2.57 billion in 2017, and is expected to hit $6.71 billion by 2025, registering a CAGR of 12.9% from 2018 to 2025. The report provides an in-depth analysis of the market, including top winning strategies, industry drivers and restraints, market size & forecast, market classification, and competitive landscape.
Increase in sophisticated cyberattacks, development in IoT-based complex threat landscape, and enforcement of stringent government regulations for data safety & security fuel the growth of the global next-generation firewall market. On the other hand, lack of skilled professionals and performance issues associated with cloud protection hamper the growth to certain extent. Nevertheless, rise in cyber security outlay and emergence of firewall as a service are expected to create multiple opportunities in the market.
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The hardware segment to dominate through 2018–2025-
Based on type, the hardware segment held the largest market share in 2017, pegging at half of the total revenue. Simultaneously, the cloud-based segment is predicted to register a CAGR of 14.9% throughout the period.
The large enterprises segment to lead the trail till 2025-
Based on organization size, the large enterprises segment contributed to nearly two-third of the total market revenue in 2017 and is anticipated to retain its top status during the period 2018–2025. At the same time, the SMEs segment would showcase the fastest CAGR of 15.5% throughout the estimate period.
North America to maintain its dominance during the study period-
Based on geography, North America accounted for more than one-third of the total market share in 2017 and is expected to dominate throughout the forecast period. The Asia-Pacific region, on the other hand, is projected to grow at the fastest CAGR of 14.6% through 2018–2025.
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Leading market players-
The key market players analyzed in the global next-generation firewall market report include Check Point, Forcepoint, Cisco, Juniper Networks, Fortinet, Huawei, Barracuda Networks, Palo Alto Networks, SonicWall, and Sophos. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.