Professional services segment to grow at the highest CAGR during the forecast period Additionally, enterprises are deploying their firewall solution virtually which is more secure as compared to on-premises and data becomes more assured. The deployment type segment is categorized into cloud, on-premises, and Network Function Virtualization (NFV). Additionally, SMS firewall solutions are used in network security firewall applications for the detection of malware over the operator’s network. The SMS firewall solution segment is expected to hold a larger market size during the forecast period, as increasing number of telecom organizations are adopting A2P messaging solutions. By firewall type, the SMS firewall to be a significant contributor to the network security firewall market during the forecast period Misconfigured firewalls and load balancers could expose the network to potential phishing and Distributed Denial of Service (DDoS) attacks, which could lead to a major breach resulting in business losses. With employees connecting remotely to enterprise networks through VPNs, it is essential that load balancing is appropriately implemented and network functions are configured properly to avoid networks failures and congestions. Hence, a well bound combination of network firewalls, email security, and best practices among workforce is essential to avoid compromising the enterprise networks. Organizations are facing an increase in attacks on corporate emails, with attackers posing as legitimate agencies, trying to trick people into sharing their account access credentials, or opening malicious email attachments. Organizations are also enacting various concepts such as bring your own device (BYOD) and work from home (WFH) to modernize their work cultures. Companies that are vying for large contracts and contracts in regulated and critical sectors are bound to have robust Business Continuity Planning (BCP) and cyber resiliency practices in place. Since then, the digital ways of doing business became the new Business Continuity Plan (BCP) for various organizations.
An increased demand for network security and privacys advent of NextGen technologies for network security new vulnerabilities in SS7 and administrative regulations and advancement of digital transformation in the telecom industry are major driving factors for the network security firewall market.ĬOVID-19 Impact on the Network Security Firewall MarketĪmidst the COVID-19 pandemic crisis, various governments and regulatory authorities mandate both public and private organizations to embrace new practices for working remotely and maintaining social distancing. The global network security firewall market size is expected to grow from USD 3.8 billion in 2020 to USD 10.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.9% during the forecast period.
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