Firewall Management Market Analysis, Research, Share, Growth, Trends, Forecast by 2024
Date: 2018-10-31   Author: Ronak Bora  Category: #technology

Firewall Management Market Analysis, Research, Share, Growth, Trends, Forecast by 2024

Firewall management market can be segmented by type to include software and hardware. Software segment is expected to dominate in terms of market share and is expected to experience a high growth during the forecast time span. These allow thigher security, user customization, and more control over its function and protection features. Hardware systems in the firewall management market are pre-configured by the vendor to prevent unauthorized access to a wireless or wired network from intruders. These are effective with little to no configuration.

End use vertical segmentation of the firewall management market comprises BFSI, healthcare, government and defense, retail, transportation, consumer, and others. The penetration of these systems in the BFSI sector is very high as they hold a large portion of critical clientele information such as financial records. Furthermore, the increasing number of cyber-attacks on the BFSI industry has caused many organizations operating in this sector to undertake security solutions, thus contributing to the firewall management market growth.

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Segmentation of the firewall management market based on organization size is bifurcated into SMEs and large enterprises. Policy-driven regulations and the increasing awareness of safeguarding the organization’s client data are anticipated to be major factors prompting the high growth of the SME firewall management market segment.

Firewall management market segmentation based on deployment model includes on-premise and cloud-based. Businesses largely deploy on-premise systems. These systems allow businesses to have a stronger control over all their data and have minimal risk network security. Cloud-based systems are projected to experience a high growth as compared to the on-premise as the total cost of ownership is reduced, allowing important resources, such as capital and personnel, to be made available for other important tasks.

Firewall Management Market size is anticipated to witness substantial growth during the forecast time span owing to rising instances of security breaches by unauthorized external agents. Intruders can gain access to a system for malicious purposes such as extraction of sensitive information, remote login, session hijacking, DDoS attack, trojan backdoor, or cookie theft.

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Furthermore, hackers can hack into an organization’s system and extract its clients’ personal and financial information or use the organization’s connection for launching viruses and worms from that system, leading to the loss of reputation. In June 2017, the PLATINUM hacker group designed and launched a system altering the Intel Active Management Technology (AMT) to bypass the Windows Firewall. It permitted attackers to exploit AMT’s Serial-over-LAN feature to run their code on their operating systems and send files, such as new payloads, to develop and run new versions of their malware.

Increasing number of compliance and regulatory mandates is further driving the firewall management market growth. For instance, the PCI DSS, North American Electric Reliability Corporation (NERC) and the National Institute of Standards and Technology (NIST) have established configuration standards that include a list of requirements for a firewall at each internet connection.

Increasing awareness about security amongst SMBs and prevalence of customer-centric businesses that hold a large amount of financial and personal customer data for business insight generation are expected to streamline the growth of the firewall management market. Multi-vendor deployment platforms are expected to grow in prominence over the forecast time span. Several organizations, irrespective of their size, use multiple security systems instead of just one for the entire organization.

High investment in the development of this technology is a major factor contributing toward the growth of North America firewall management market. Increasing number of organization sectors such as BFSI and retail has led to a high demand of these systems in the Asia Pacific market, primarily in emerging economies such as India and China.

Players operating in the global firewall management market undertake various business strategies to augment their growth and capture a larger market share. Companies operating in the firewall management market include Cisco, McAfee, Check Point Technologies Ltd., Zscaler, Inc., Palo Networks, Inc., Juniper Networks, Inc., Kaspersky Lab, Barracuda Networks Inc., and Comodo Group. In March 2017, GoDaddy announced the acquisition of Sucuri to aid in the launching of their security service arm, GoDaddy Website Security and to gain access to the acquired company’s customer base.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.


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