Integrated security offerings present strong opportunities for growth in the market, finds Frost & Sullivan's Digital Transformation team
SANTA CLARA, California, April 5, 2017 /PRNewswire/ -- Next generation firewalls (NGFW) offering advanced visibility within the layers of application traffic, user identification and threat detection are proving game changers for the global network firewall market. Unified threat management (UTM) firewalls further barricade networks through integrated anti-spam, URL filtering, and gateway antivirus. Firewall vendors are integrating advanced security technologies such as advanced malware sandbox (AMS) inspections and endpoint detection and response (EDR) with network firewalls, to deliver a high degree of value to customers and drive product uptake.
New Frost & Sullivan analysis, The Global Network Firewall Market, finds the market will grow at a compound annual growth rate (CAGR) of 12.7 percent between 2016 and 2021, growing to revenue of $10.1 billion. The study also reveals the overall market size, top competitors and parameters that customers use to select the right firewall solution.
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"Firewalls currently perform a range of threat detection and policy enforcement functions; their roles continue to expand to integrate within all parts of the modern enterprise network," said Frost & Sullivan's Network Security Senior Industry Analyst Chris Rodriguez. "As a result, this will not only raise revenues but also increase the level of competition in the market place."
Despite the market potential, firewall vendors face significant challenges such as end-user preference for point products in enterprise networks, confusion within an organization regarding firewall management, and technology shyness among traditional firewall loyalists. Established participants such as Check Point, Palo Alto Networks, Cisco and Fortinet, are overcoming these issues by focusing on powerful firewall solutions that function as a key control point in initiating network security processes.
"NGFW and UTM firewalls are in demand in every Internet-connected organization, spanning most vertical industries," observed Rodriguez. "However, widely varying customer needs creates room for innovation and differentiation among vendors. Holistic, integrated security offerings will provide more value to customers than point products, and present strong opportunities for growth."
The Global Network Firewall Market is part of Frost & Sullivan's Network Security Growth Partnership Service program.
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The Global Network Firewall Market
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SOURCE Frost & Sullivan