Global Next-Generation Firewall Market expected to grow at a CAGR of 12.5% from 2020-2026 – Bulletin Line | #Databreach | Pentest | #cybersecurity | #informationsecurity

According to BlueWeave Consulting, The global Next-Generation Firewall market is estimated to reach USD 7.01 Billion in 2026 at a significant CAGR of 12.5% due to the growing demand for enterprise security globally.

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Adoption of upgraded technologies such as cloud-based services among the small, medium, and large enterprises are growing, and shift to personal cloud for personal data storage requires protection from hacking and threats. Advantages of next-generation firewalls include single console access, multi-layered protection, simplified infrastructure, optimal use of network speed, antivirus, ransomware and spam protection & endpoint security, and capability to implement role-based access. Increase in sophisticated cyberattacks, development in IoT-based complex threat landscape, and enforcement of stringent government regulations for data safety & security fuel the growth of the global next-generation firewall market.

Furthermore, the resistance of enterprises to use next-generation firewalls over traditional firewall technology might be a barrier to the growth of the market. Also, the lack of skilled professionals and performance issues associated with cloud protection hamper the increase to a next-generation firewall market. Nevertheless, the rise in cybersecurity outlay and the emergence of a firewall as a service are estimated to create multiple opportunities in the market.

The BFSI segment is dominating the next-generation firewall market during the forecast period of 2026. The BFSI segment deal with the customers’ transaction data throughout the day. The next-generation firewall protections are designed for businesses performing with a high volume of sensitive transactions and essential data in daily activities.  The next-generation firewall protections support their needs to maintain the uptime as well as to protect critical business functions and data. However, the healthcare segment is estimated the highest growth rate, owing to the ongoing trend of digitalization of healthcare sector and increase in security breaches related to medical records, medical devices, and its data in healthcare organizations, which fuel the demand for these firewall solutions, and drive the next-generation firewall market.

There has been an increase in the cybersecurity budget across the globe in recent years. Business and public organizations are investing more in securing their data, as they have been continuously trying to build comprehensive solutions to prevent hackers from attacking their networks. According to the cybersecurity report from Vodafone, the awareness of rising cyber threats and more demanding customer requirements are driving an increase in cybersecurity budgets. Moreover, an emerging country such as India is continuously improving their cybersecurity spending for better safeguarding against advanced threats. This growth in cybersecurity spending is estimated to create significant opportunities for the next-generation firewall market during the forecast period.

More than two-thirds of SMBs have reported a rise in sophistication in cyberattacks. Currently, cybercriminals have access to a variety of plug-and-play options, which are generally pieced together for the complicated malware campaigns. Such sophisticated attacks are estimated to continue, due to the growth in usage of smartphones, bring-your-own-device (BYOD), cloud services globally, and social media. Rising instances of advanced attacks are motivating the companies to adopt advanced methods for data protection such as next-generation firewalls.

In terms of region, the Global Next-Generation Firewall market is bifurcated into North America, Asia Pacific, Europe, Middle East, Africa & Latin America. Asia-Pacific is anticipated to witness the highest growth rate during the forecast period of 2026 due to factors such as a growth in the surge in penetration of the internet, IT modernization, and an increase in the need to protect corporate & personal information from the cyberattacks. An upsurge in the adoption of IoT-based devices in countries such as Taiwan & South Korea and the development of smart cities are projected to provide remunerative opportunities for market expansion during the forecast period. North America is estimated to dominate the global next-generation firewall market due to the high preference of businesses for the security of the high volume of sensitive and essential data and the continuous adoption of top-performing network security solutions by organizations. Moreover, The European market is estimated to witness an average growth rate during the forecast period.

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The major market players in the Next Generation Firewall market are Palo Alto Networks Inc., Cisco Systems, Sophos Ltd., Juniper Networks, Dell Technologies, Sonicwall Inc., Huawei Technologies Co. Ltd., Fortinet Inc., Barracuda Networks Inc., Forcepoint LLC, WatchGuard Technologies Inc., Check Point Software Technologies Ltd., Hillstone Networks, Kaspersky Lab, Sophos Technologies Pvt. Ltd (Cyberoam), Untangle Inc., GajShield Infotech Pvt. Ltd., Zscaler Inc., NVIDIA Corporation, and Other Prominent Players are expanding their presence in the market by implementing various innovations and technology.

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BlueWeave Consulting is a one-stop solution for market intelligences regarding various products and services online & offline. We offer worldwide market research reports by analysing both qualitative and quantitative data to boost up the performance of your business solution. Our primary forte lies in publishing more than 100 research reports annually. We have a seasoned team of analysts working only for various sub-domains like Chemical and Materials, Information Technology, Telecommunication, Medical Devices/Equipment, Healthcare, Automotive and many more. BlueWeave has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients for years. We are one of the leading digital market intelligence generation company delivering unique solutions for blooming your business and making the morning, more rising & shining.

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