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3. Next-generation Firewall Market Size & Share - Future Growth Expectations

The global next generation firewall market size is projected to grow from USD 5.0 billion in 2023 to USD 8.6 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period.

To know about the assumptions considered for the study download the pdf brochure

The growth factors for the Next-generation Firewall (NGFW) market are driven by evolving cybersecurity threats, technological advancements, and changing business requirements. Here are the key factors contributing to the growth of the NGFW market:

• Rising Cybersecurity Threats
• Adoption of Cloud and Hybrid Infrastructure
• Zero Trust Security Models
• Remote Work and Secure Connectivity
• Compliance and Regulatory Requirements
• Advanced Threat Detection Technologies
• Increased Focus on IoT Security

Rising Cybersecurity Threats: Increasing sophistication of cyber-attacks, such as advanced persistent threats (APTs), ransomware, and zero-day attacks, drive the need for NGFWs with advanced threat detection capabilities.

Adoption of Cloud and Hybrid Infrastructure: As businesses transition to cloud and hybrid environments, NGFWs offer scalable security solutions that integrate with cloud platforms to maintain a consistent security posture.

Zero Trust Security Models: The adoption of zero trust frameworks, which require strict identity verification and continuous monitoring, leads to increased demand for NGFWs with granular access controls and deep packet inspection.

Remote Work and Secure Connectivity: The rise of remote work during and after the COVID-19 pandemic has increased the need for secure remote access and VPN capabilities within NGFWs to protect distributed workforces.

Compliance and Regulatory Requirements: Compliance with regulations like GDPR, HIPAA, and PCI DSS necessitates robust security measures, pushing businesses to adopt NGFWs that meet these standards.

Advanced Threat Detection Technologies: NGFWs are incorporating artificial intelligence (AI), machine learning (ML), and behavioral analytics to detect and respond to threats in real-time, improving overall security.

Increased Focus on IoT Security: The growth of Internet of Things (IoT) devices introduces new security risks. NGFWs offer solutions to monitor and secure IoT traffic, addressing these emerging threats.

Next-generation Firewall Market Share - Global Industry Landscape

Here's a brief overview of the market share and key offerings for the Next-generation Firewall (NGFW) market for the specified companies:

• Palo Alto Networks (US)
• Cato Networks (Israel)
• Trend Micro (Japan)
• Huawei (China)
• Sophos (UK)
• Atrity (India)

Palo Alto Networks (US)

Market Share: Palo Alto Networks is a leading player in the NGFW market, known for its robust network security solutions.

Key Offering: Palo Alto Networks' NGFWs offer advanced threat detection, deep packet inspection, application-based control, and cloud integration. Its security platform supports zero trust and AI-based threat intelligence.

Cato Networks (Israel)

Market Share: Cato Networks has a smaller market share but is gaining traction with its innovative cloud-based NGFW solutions.

Key Offering: Cato Networks provides a cloud-native NGFW solution, focusing on Secure Access Service Edge (SASE). It integrates networking and security, offering real-time threat detection, cloud security, and secure connectivity for remote users.

Trend Micro (Japan)

Market Share: Trend Micro is a well-established cybersecurity company with a significant presence in the NGFW market.

Key Offering: Trend Micro's NGFW solutions emphasize advanced threat protection, anti-malware, and integration with other security tools. They offer robust protection for hybrid and multi-cloud environments.

Huawei (China)

Market Share: Huawei is a major telecommunications company with a significant market share in NGFW solutions.

Key Offering: Huawei's NGFWs focus on high performance, scalability, and AI-based threat detection. They support advanced security features, including zero trust, cloud integration, and application-layer security.

Sophos (UK)

Market Share: Sophos is a prominent cybersecurity company with a strong market share in NGFW products.

Key Offering: Sophos' NGFW solutions feature synchronized security, AI-based threat detection, and deep packet inspection. They also offer integration with endpoint security and centralized management.

Atrity (India)

Market Share: Atrity is a lesser-known player in the NGFW market with a smaller market share.

Key Offering: Atrity provides NGFW solutions with a focus on customizable security features, including application control, advanced threat protection, and integration with other security systems.

Related Reports:

Next-generation Firewall Market by Offering (Hardware, Software, Services), Deployment Mode (On-premises, Cloud/Virtual), Organization Size (Large Enterprises, SMEs), Vertical (BFSI, Government, Other Verticals) and Region - Global Forecast to 2028