Global Firewall as a Service (FWAAS) Market – Industry Trends and Forecast to 2029

Global Firewall as a Service (FWAAS) Market Analysis and Size

Firewall as a service (FWAAS) is based on the URL filtering system that helps to protect the data set against false and malware practices. It is a technological system that protects the organizations against cyber-attacks.  Rising number of small and medium scale end users are increasingly understanding the importance of firewall as a service (FWAAS). Fortinet, Inc. (US), Spitfire Technology Group (US), WatchGuard Technologies, Inc. (US), Hewlett Packard Enterprise Development LP (US), Skybox Security, Inc. (US), AlgoSec (US), FireMon, LLC. (US), F5, Inc. (US) and Vocus Group (Australia) are the some major players operating in this market.

• Data Bridge Market Research analyses that the firewall as a service (FWAAS) market value, which was USD 0.30 billion in 2021, is expected to reach the value of USD 8.28 billion by 2029, at a CAGR of 25.40% during the forecast period. “Public Cloud" accounts for the largest deployment model segment in the firewall as a service (FWAAS) market owing to the growing rate of adoption of firewall as a service (FWAAS) by small and medium scale enterprises. The firewall as a service (FWAAS) market report also covers pricing analysis, patent analysis, and technological advancements in depth.

Global Firewall as a Service (FWAAS) Market Definition

From the name itself, it is clear that firewall as a service (FWAAS) is a technological system that provides advanced level of security including access controls, such as advanced threat prevention, intrusion prevention systems (IPS) and DNS security. Firewall as a service (FWAAS) is a cloud firewall system designed to protect the crucial organizational information set.  

Report Scope and Market Segmentation

Global Firewall as a Service (FWAAS) Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers:

• Growth in investment for research and development to carve way for innovations

The rising number of strategic market collaborations has led to the rise in funds to be allocated for the growth and development of advanced and automated technology/ machinery against fraudulent activities. Further, growth in the level of investment for research and development proficiencies would carve the way for innovations in information technology. Rising integration of artificial intelligence and machine learning technologies will further prove to be a boon for the market.      

• Increased number of industries globally to induce greater demand and supply in emerging nations  

Growing number of small and medium scale enterprises all around the globe is one of the major factors fostering the growth of the market. In other words, increased number of banking, financial services, and insurance (BFSI), education, energy and utilities, government and public sector, healthcare and life sciences, manufacturing, retail and e-commerce, telecommunication, and IT industries, is directly influencing the growth rate of the market.

• Growing number of cyber-attacks to present numerous opportunities for small scale businesses

Owing to the global economic rise, there is a huge scope of growth for the information and communication technology industry. However, with the rising volume of organizational data, there is a rise in the number of cyber-criminal activities. This could hamper an organizations goodwill and manipulate the records. This will further create a good scope of growth.    

Opportunities:

• Cloud based firewalls to present many opportunities

Rising urbanization, modernization, and globalization drive market value growth. In other words, growing awareness about the benefits of cloud based firewalls among small and medium size enterprises especially in the developing economies to develop the infrastructure will present very many opportunities for the growth of the market.

Growing industrial infrastructure and prevalence of limited number of vendors offering services, increasing adoption of centralized policy management and simplified installation, and increased volume of organizational data set are other market growth determinants. Furthermore, rising proliferation of high speed internet in the developing economies will extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, rising need to fortify the enterprises network against unauthorised and unprecedented strikes and rising usages of the services due to seamless scalability will further expand the future growth of the market. 

Restrictions/ challenges Global Firewall as a Service (FWAAS) Market

• Increased number of regulations to limit the scope of growth in the long run

The increasing number of multiple regulatory compliance along with limited technical expertise will create hindrances for the growth of the market. Also, stringent regulations on product approvals will narrow down the scope of growth for the market. Further, suspension of business activity on account of the coronavirus pandemic will yet again create hindrances.    

• Complexities will pose a threat to the unprecedentedly growing market demand

Complexities associated with the deployment of cloud based deployment models will challenge the market growth rate. Further, penetration of cloud based deployment model is confined to large enterprises which will further derail the market growth rate.    

Also, dearth of awareness in underdeveloped regions and high costs associated with deployment will act as growth restraints for the market. Lack of strong infrastructural facilities in the backward economies and dearth of concerns towards the security will also challenge the market growth rate.

This firewall as a service (FWAAS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the firewall as a service (FWAAS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Firewall as a Service (FWAAS) Market

The recent outbreak of coronavirus has proven to be a bane for the market. The pandemic has led to the suspension of business activity on account of the coronavirus pandemic and has resulted in disruptions in global supply chains, border restrictions, and travel restrictions by government bodies. Mandatory containment measures and health safety compliances have put huge pressure on remote operations across a wide array of industry vertical which further derailed the market growth rate. However, at the end of 2020, global companies witnessed rising investments in cloud solutions to facilitate easy remote working.

Recent Developments

• In October 2021, Barracuda Networks, Inc. launched Firewall Insights to augment its capability in SD-WAN security. This analytics backed solution will help experts to measure their security platform in this ever-advancing technology of IT security measures. This new innovation is expected to strengthen Barracuda’s position in the global market.  

Global Firewall as a Service (FWAAS) Market Scope

The firewall as a service (FWAAS) market is segmented on the basis of service type, service model, deployment model, organization size, vertical, and product. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Service type

• Traffic Monitoring and Control
• Compliance and Audit Management
• Reporting and Log Management
• Automation and Orchestration
• Security Management
• Managed Services
• Professional Services
• Others

Firewall as a service (Fwaas) market on the basis of service type has been segmented as traffic monitoring and control, compliance and audit management, reporting and log management, automation and orchestration, security management, managed services, professional services, and others.

Service model

• Infrastructure as a Service
• Platform as a Service
• Software as a Service

Based on service model, firewall as a service (FWAAS) market has been segmented into infrastructure as a service, platform as a service, and software as a service.

Deployment model

• Public Cloud
• Private Cloud
• Hybrid Cloud

On the basis of deployment model, firewall as a service (Fwaas) market has been segmented into public cloud, private cloud, and hybrid cloud.

Organization size

• Small and Medium-Sized Enterprises
• Large Enterprises

On the basis of organization size, firewall as a service (Fwaas) market has been segmented into small and medium-sized enterprises, large enterprises. 

Vertical

• Banking, Financial Services, and Insurance (BFSI)
• Education
• Energy and Utilities
• Government and Public Sector
• Healthcare and Life Sciences
• Manufacturing
• Retail and E-Commerce
• Telecommunication, and IT
• Others

Firewall as a service (Fwaas) has also been segmented on the basis of vertical into banking, financial services, and insurance (BFSI), education, energy and utilities, government and public sector, healthcare and life sciences, manufacturing, retail and E-commerce, telecommunication, and IT, and others.

Product

• Firewalls
• Management Software/Tools

Based on product, firewall as a service (Fwaas) market has been segmented into firewalls, and management software/tools. Firewalls have been further segmented into proxy servers, stateful inspection firewall, unified threat management (UTM), and next-generation firewall (NGFW). Management software/tools have been further segmented into auditing and compliance, cloud security, connectivity management, automation, backup and recovery.  

Firewall as a Service (FWAAS) Market Regional Analysis/Insights

The firewall as a service (FWAAS) market is analysed and market size insights and trends are provided by country, service type, service model, deployment model, organization size, vertical, and product as referenced above.

The countries covered in the firewall as a service (FWAAS) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market due to the rising number of initiatives by government as well as private organizations for digital transformation along with adoption of cloud services while Asia-Pacific region will expect to grow in the forecast period of 2022-2029 due to the increasing advancement in technology along with rising need to prevent cybercrimes.    

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Firewall as a Service (FWAAS) Market Share Analysis

The firewall as a service (FWAAS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to firewall as a service (FWAAS) market.

Some of the major players operating in the firewall as a service (FWAAS) market are:

• Fortinet, Inc. (US)
• Spitfire Technology Group (US)
• WatchGuard Technologies, Inc. (US)
• Hewlett Packard Enterprise Development LP (US)
• Skybox Security, Inc. (US)
• AlgoSec (US)
• FireMon, LLC. (US)
• F5, Inc. (US)
• Vocus Group (Australia)
• Sprout Technologies Limited (US)
• Barracuda Networks (US)
• Cato Networks (Israel)
• Check Point Software Technologies (Israel)
• Cisco Systems, Inc. (US)
• Forcepoint (US)
• Juniper Networks (US)
• Palo Alto Networks (US)
• WatchGuard (US)
• Zscaler (US)  

Research Methodology : Global Firewall as a Service (FWAAS) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.

To know more about the research methodology, drop in an inquiry to speak to our industry experts 

https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-firewall-as-a-service-fwaas-market

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