HOME Research Insight Partnerships, Agreements, and Collaborations; Acquisitions; and New Product Developments to Achieve Growth in the Global NGFW Market



Partnerships, Agreements, and Collaborations; Acquisitions; and New Product Developments to Achieve Growth in the Global NGFW Market


Next-generation firewall (NGFW) is a process of collecting, archiving, managing, and reporting the logs, which are generated from various devices, such as firewalls, routers, servers, and switches. NGFW solutions deal with a huge amount of computer-generated log data. The main objective of NGFW is to track the security events and network activities. With proper NGFW solutions, an organization can effectively manage logs while ensuring the integrity and improved business continuity. MarketsandMarkets forecasts that the NGFW market size is expected to grow from USD 2.39 Billion in 2017 to USD 4.27 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 12.3%. The sophistication level in the cyberattacks is increasing and creating demands for more comprehensive NGFW services that would enable the protection of complex network infrastructure.

The key players in the NGFW market include Cisco Systems (California, US), Fortinet, Inc. (California, US), Check Point Software (California, US), Palo Alto Networks (California, US), Barracuda Networks (California, US), Forcepoint (Texas, US), Zscaler (California, US), Juniper Networks (California, US), WatchGuard Technologies (California, US), and Sophos Ltd. (Abingdon, UK). These players have adopted various strategies, such as partnerships, agreements, and collaborations; acquisitions; and new product developments to achieve growth in the global NGFW market.

The NGFW market witnessed a lot of partnerships, agreements, and collaborations by key players from 2015 to 2017. In March 2017, Barracuda formed a partnership with Zscaler, a leading provider of cloud security solutions. This partnership will enhance its security offerings for web security. In February 2016, Check Point formed an alliance with IBM Security to enhance their threat prevention capabilities by providing product integrations. In August 2016, Fortinet entered into a partnership agreement with VMware, Inc. to integrate FortiGate VMX with VMware NSX to provide advanced security to the cloud environment. In April 2016, Palo Alto Networks formed a partnership with PwC to provide next generation security technology by providing security architectures, organizational structures, and computing processes in cyber security to prevent cyber-attacks. In April 2015, Check Point formed a partnership with FireEye, a leading provider of security solutions. This partnership will help the company to share threat intelligence in real-time, preventing cyber-attacks.

The key players also adopted the strategy of acquisitions to increase and expand their product portfolio to untapped markets. In February 2017, Palo Alto Networks acquired LightCyber, a provider of behavioral analytics technology in cyber security. The acquisition will help the company to provide enhanced products to defend and protect against the attacks across the network using the behavioral analytics technology and sophisticated machine learning. In February 2015, Check Point acquired Hyperwise, which expanded the product offerings of Check Point to include a unique and innovative CPU-level threat prevention engine developed by Hyperwise. In October 2015, Barracuda acquired Intronis, a leader in providing data protection solutions. This acquisition helped Barracuda to expand its channel reach.

The major players also launched new products to strengthen their product portfolio and expanded their offerings to new clients. In February 2017, Fortinet launched a new NGFW solution in its product portfolio named FortiGate 3980E and FortiGate 7060E. In the same month, SonicWall launched an email security and next-generation firewall solutions to prevent users from various sophisticated attacks. SonicWall Email Security 9.0 and SonicOS 6.2.7 are the solutions that will provide protection against cyber-attacks. These appliances are chassis-based enterprise firewalls and provide the highest performance by providing enhanced security. In September 2016, Sophos launched its new product InterceptX, a next-generation endpoint security product which has features such as Anti-Exploit and Anti-Ransomware Technology. In July 2016, Barracuda launched its NGFW F-Series version 7.0 which can be deployed through cloud platforms to enhance security in such environments.

NGFW vendors are continuously adding innovations to their products and services to protect sensitive applications, networks, and connected devices from real-time behavioral anomalies and advanced threats. Furthermore, NGFW solutions and services are being increasingly adopted in various verticals, such as Banking, Financial Services, and Insurance (BFSI); energy and utilities; government and public utilities; healthcare; IT and Telecom;  retail; and education, which have led to the growth of the market across the globe.

Related Reports:

Next-Generation Firewall Market by Delivery Type (Hardware, Virtual, Cloud), Service (Professional (Consulting, Support and Maintenance, System Integration), and Managed), Organization Size, Vertical, and Region - Global Forecast to 2022

Contact:
Mr. Rohan
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports