Firewall as a Service Market Size, Share, Key Findings, Business Revenue, Sales Forecast, Current Trends, Segmentation, Strategies and Impact of COVID-19

Research Reports

Jan 21, 2021

According to Market Research Future (MRFR), the global firewall as a service market is poised to create a valuation of approx. USD1.98 BN by 2023, growing at 23 % CAGR throughout the review period (2018 – 2023). Also, increasing needs of the security foundation and make it easy to onboard IoT devices to the cloud boost the market growth.

Rising demand for a small, embedded footprint, low power consumption, low latency, resilient communications, and privacy define the widening landscape of FWaaS market. Small and medium enterprises have gradually adopted this technology since it provides them with customized firewall solution rendering simplified management, and comprehensive protection services.

Global Firewall as a Service (FWaaS) Market – Competitive Analysis

Highly competitive, the FWaaS market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain prevailing key trends for the leading players as these strategies support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and products.

Major Players:

Players leading the FWaaS market are Barracuda Networks (US), Check Point Software Technologies (Israel), Cato Networks (Israel), Cisco Systems (US), Fortinet (US), Forcepoint (US), Juniper Networks (US), WatchGuard (US), Zscaler (US), Palo Alto Networks (US), Sophos (UK), H3C(China), Hillstone Network(US), and Sangfor Technologies(China), among others.

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Global Firewall as a Service (FWaaS) Market – Regional Analysis

North America dominates the global firewall as a service market. The largest market share attributes to the wide uptake of FWaaS & advances in technology. Besides, increasing investments in cloud-based solutions drive market growth in the region. Moreover, the digital transformation, early adoption of cloud services, and increased cloud initiatives by the governments substantiate the firewall as a service industry in the region. The North American FWaaS market is projected to retain its dominance throughout the review period.

Europe stands second in the global firewall as a service market. The market growth is driven by the growing number of businesses and technological advancement, especially in the UK, France, Germany, and Italy. Additionally, the rising demand for FWaaS increases the firewall as a service market size. The European FWaaS market is expected to create a substantial revenue pocket during the assessment period.

The Asia Pacific region accounts for a substantial share in the global firewall as a service market. Factors such as the rapidly advancing countries such as China, Japan, and India, backed by the improving economy, boost the firewall as a service market share. Furthermore, the spurting industrialization across the region influences the growth of the market. The APAC FWaaS market is forecasted to grow at a modest CAGR during the anticipated period.

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About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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