Firewall as a Service Market Overview
As per the research made, the market of the Firewall As A Service Market is showing a potential growth and is likely to reach USD 4.16 Billion with a CAGR of 24.35% during the forecast timeline.
Cyber threats these days have gained more prominence through the glove. There is a huge rate of cyber-attacks that has been noticed in the past few years which actually created HAVOC in the business. The use of the Bring you own solution, mobile transactions and also gadgets that can now be linked throughout the globe has caused an increase in cyber-attack threats and also the data breach which further caused the widespread use of the different firewall solutions. Also the firewalls were traditionally deployed one very sever to keep the networking safe. There have been many ways in which the firewall as the service as compared to the conventional firewalls seems to be a good option. But the service in the home in the cloud pattern is quite accessible from any area and can be used within the budget.
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Firewall as a Service Market Major Key Players
- Barracuda Networks (US)
- Check Point Software Technologies (Israel)
- Cato Networks (Israel)
- Cisco Systems (US)
- Fortinet (US)
- Forcepoint (US)
- Juniper Networks (US)
- WatchGuard (US)
- Zscaler (US)
- Palo Alto Networks (US)
There have been several recent developments in the Firewall as a Service (FWaaS) market. For example, in 2021, the European Union announced new regulations that would require all organizations to implement a firewall-as-a-service solution in order to protect their data. Additionally, Generali Group launched a new FWaaS offering in Europe, which provides customers with a comprehensive firewall solution that is cost-effective and easy to deploy. In addition, many companies are now offering FWaaS as a managed service, allowing organizations to outsource their network security to a third-party provider. Finally, FWaaS solutions are now being provided by cloud providers, allowing organizations to deploy their own firewall solution in the cloud.
Firewall as a Service (FWaaS) is a cloud-based security solution that provides protection against cyber attacks, unauthorized access, and other network threats. FWaaS is gaining popularity as it provides businesses with the flexibility to secure their networks without having to invest in on-premises hardware and software.
The FWaaS market is expected to grow significantly in the coming years, driven by the increasing adoption of cloud-based security solutions and the rising demand for network security among businesses. The key factors driving the growth of the FWaaS market include the increasing need for network security and the rising adoption of cloud-based solutions. FWaaS offers several benefits, such as real-time threat detection and prevention, scalability, and easy deployment and management. These benefits are driving the adoption of FWaaS among businesses of all sizes.
The FWaaS market is segmented on the basis of service type, deployment mode, organization size, vertical, and region. The service type segment includes managed and professional services. The deployment mode segment includes public cloud, private cloud, and hybrid cloud. The organization size segment includes small and medium-sized enterprises (SMEs) and large enterprises. The vertical segment includes banking, financial services, and insurance (BFSI), healthcare, government and public utilities, retail, manufacturing, and others. North America is expected to dominate the FWaaS market during the forecast period, due to the presence of a large number of FWaaS vendors and the high adoption of cloud-based security solutions in the region. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period, driven by the increasing adoption of cloud-based solutions and the rising demand for network security in emerging economies, such as China and India.
Overall, the FWaaS market is expected to continue to grow in the coming years, as businesses look to secure their networks and data in an increasingly digital and interconnected world. There had been many reasons that also included the increased requirement for depending on the operating solution for unexpected yet ill age crimes and also the simple implementation of the firewall software for the dispersed networking which is now driving the Firewall as a Service Market growth. Also, there are many problems which have restricted the market that including the limited technical skills for handling the firewall mechanisms which are complex in nature and also the lack of stable network equipment with no governance. The covid 19 pandemic crises advent also resulted in the high investment in some advanced series and also the technology including the Internet of things, cloud computing, artificial intelligence and corporate flexibility to name some. Also, the increased numbers of people who work from home in the face of the world are now shutting down because of the Covid 19 pandemic crisis which is also fuelling up the requirement for applications that are cloud-based throughout the forecast timeline.
Firewall as a Service Market Segmentation
Firewall as a Service Market By Service Type
- Traffic monitoring and control
- Compliance and audit management
- Reporting and log management
- Automation and orchestration
- Security management
- Managed services
- Professional services
- Others (Connectivity and configuration management)
Firewall as a Service Market by Service Model
- Infrastructure-as-a-Service (IaaS)
- Platform-as-a-Service (PaaS)
- Software-as-a-Service (SaaS)
Firewall as a Service Market by Deployment Model
- Public cloud
- Private cloud
- Hybrid cloud
Firewall as a Service Market by Organizational Size
- Small and Medium-sized Enterprises (SMEs)
- Large enterprises
Firewall as a Service Market Regional Classification
As per the regional classification that has been done, it is estimated that the market of Firewall as a Service is likely to create at a high pace per the research that has been made. Further out of regions like the Asia Pacific, North America and the rest of the world, the market of North America is showing potential growth in the forecast timeline.
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Industry News
The models of the public cloud deployment are showing a good share of the market and are likely to grow at a great pace during the projection timespan.
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