FWaaS Market size is Impelled by rising collaboration of firewall service up to 2024

FWaaS Market size will be driven by increasing collaboration of firewall service providers and pure software vendors. These proactive and dynamic prospects are vividly underlining the competitive and strategic landscape of cloud firewall market. To cite an instance, Tata Consultancy Services, a dominant Indian IT service provider, has recently teamed up with US-based security firm Palo Alto Networks to assist enterprises to reliably transfer applications and data to the public cloud infrastructure. The Global Security Operations Centres of TCS will be leveraged to keep a tab on the sophisticated and complex cyber-threats and ward off malicious cyber-attacks trying to inflict organizations. Furthermore, firewall as a service market is striving to be a combative market as the leading players are continuing their efforts to integrate with cloud companies to cater to a wider range of customers.

FWaaS Market in firewall appliances is expected to witness high CAGR during the seven years. Traditionally, proxy servers and stateful inspection firewalls were used to protect the servers and network. However, with the change in the attacks and spreading its reach, internal networks require more protection than traditional ways. The UTM and NGFW were used to protect enterprises from internal and external network attacks.

FWaaS Market size is driven by rising cases of cyber-attacks, which have practically plagued every industry. As per reliable estimates, cybercrime seemingly falls under the criteria of top two reported crimes at a global level. Estimates further suggest that, worldwide, approximately, more than 50% of the organizations have been targeted by cyber criminals over the past two years. The matter has been a global concern and has called for attention at both the government and private levels, thus leading to a plethora of technological advancements in the security sector. In this regard, cloud based approaches have already made profound inroads in network security, a factor that has brought great deal of interest to firewall as a service industry.

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Mergers and acquisitions is changing the market structure with the influence of major investments and development of new and enhanced products. Acquisitions in the firewall market accelerated in 2016, up from 2015 and 2014 for instance, HPE acquiring Niara, Trend Micro acquiring HP TippingPoint business, and Intel Security selling its firewall business to Raytheon/Websense, and renamed as Forcepoint. Despite the turmoil, the market will grow moderate and is expected to grow due to additions of features such as IPS and URL filtering in the traditional firewalls. FWaaS market for pure-players is growing tremendously in firewall market, many of them offering services on cloud

Asia Pacific (APAC) offers growth opportunities in the FWaaS market as there is a wide presence of SMEs in the region that are ready to use customized security applications to defend against threats. The region is the fastest growing market due to security challenges and investment in infrastructure.

North America will dominate the FWaaS market in 2016, approx. 52% and is expected to maintain its majority by 2024, due to increase in the use of cloud computing and collaboration within companies and government. The region has well-established players investing in R&D activities that will contribute to the development of new and advanced technologies.

The FWaaS market holds majority of the cloud firewall market share with approximately 22% CAGR estimation from 2017 to 2024. Traditionally, proxy servers and stateful inspection firewalls were used to protect the servers and network. However, with the change in the attacks and spreading its reach, internal networks require more protection than traditional ways. The UTM and NGFW were used to protect enterprises from internal and external network attacks.

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