Firewall as a Service Market growth is driven by increase in initiatives by government to improve the security of the customer information and cyber-attacks. Rapid digitization, improvement in business, and growth of cyber-attacks on BFSI, healthcare, and retail industry in developing countries such as India and China, has led to an increase in the use of security solutions. Organizations are working closely with security associations to form new regulatory and offer customized suite and packages to enterprises which are more prone to attacks.
As enterprises are willing to invest in upgrading and refining the cloud security and automation of firewalls, the firewall management software market size will obtain a much-required boost in the Firewall as a Service market. If the recent news reports are to be believed, the hackers are making a concerted effort to reverse-engineer devices and apps. A simple misconfiguration would expose a serious vulnerability in the network of any enterprise.
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Some of the remarkable benefits of cloud-based firewall services include simplified management, better internal threat protection, comprehensive protection services, reduced cost of training the staff, improved threat perception, and enhanced disaster recovery. The BFSI sector stands to contribute immensely toward Firewall as a Service market size, as the most ferocious cyber-attacks are directed towards financial institutions. The BFSI application, as per the estimates, is contemplating a resilient and sturdy growth of over 22% CAGR from 2017 to 2024.
The Firewall as a Service market are being used by organizations to protect end-to-end web application and database of customer information and business. FWaaS enables fast and secure local Internet breakouts for all ports and protocols, without the use of hardware appliances. It elastically handles all the cloud application traffic, bringing the entire security stack closer to offer protection no matter where they connect. The solutions keep the network secure, depending on the needs of the customer; the solutions are integrated with next-generation appliances.
The number of cyber-crimes across the globe is sky-rocketing – a factor that has provided a substantial push to Firewall as a Service market, an integral vertical of the network security landscape. According to recent news reports, roughly 2 billion data records around the globe were stolen or lost by cyber-attacks in the first half of 2017. The increasing complexity and sophistication of these attacks further paint a grim picture of today’s network security landscape, in extension leading to Firewall as a Service market emerging in rather a gigantic way.
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Asia Pacific Firewall as a Service Market, which has the highest number of SME’s, is expected to thrive in the coming few years as the increased awareness, security infrastructure and technology adoption acquire significance. Speaking of the regional distribution of firewall as a Service market, North America has the largest market size and is presumed to grow at a higher rate owing to its network security infrastructure, heightened awareness and the speedy adoption of latest cutting-edge cybersecurity technology.
The maturation of Firewall as a Service market can also be accredited to the increased utilization of the ever-expanding cloud computing and the regulatory guidelines being prescribed by the Governments around the world to protect critical data and information. As per a report compiled by Global Market Insight, Inc., Firewall as a Service market size is estimated to grow at a robust CAGR of over 25% from 2017 to 2024.
Some of the key participants in the Firewall as a Service market include CheckPoint, Fortinet, Palo Alto Networks, Cisco, Juniper Networks, Tufin, AlgoSec, FireMon, and SkyBox Security. The industry is characterized by presence of firewall appliance providers, security providers, network providers, cloud providers, and management software providers.
Table Of Content For This Research Report:
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.4. Technology & innovation landscape
3.4.1. Virtualization firewalls
3.4.2. Web application firewallS
3.5. Regulatory landscape
3.5.1. Payment Card Industry Data Security Standard (PCI DSS)
3.5.2. The Gramm-Leach-Bliley Act (GLB) Act of 1999
3.5.3. Federal Information Security Management Act (FISMA)
3.5.4. North American Electric Reliability Corp. (NERC) standards
3.5.5. Health Insurance Portability and Accountability Act (HIPAA)
3.6. Industry impact forces
3.6.1. Growth drivers
126.96.36.199 Growing cybercrimes in North America
188.8.131.52 Regulatory Compliance
184.108.40.206 Increase in demand for network security in Asia Pacific
3.6.2. Industry pitfalls & challenges
220.127.116.11 Lack of concern towards security
18.104.22.168 Penetration confined to large enterprises
3.7. Growth potential analysis
3.8. Porter’s analysis
3.9. Competitive landscape, 2016
3.9.1. Strategy dashboard
3.10. PESTEL analysis
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