network security firewall Market

The global Network Security Firewall market is accounted to US$ 3,525.0 Mn in 2018 and is expected to grow at a CAGR of 13.1% during the forecast period 2019 - 2027, to account to US$ 10,531.1 Mn by 2027. The global Network Security Firewall market is experiencing steady growth in the forecast period. Cyber security industry in the country is highly advanced in terms of the know-how and volume of local industry professionals. Moreover, recent incidences including enterprise level cyber-attacks and international cyber warfare have augmented awareness of cyber security threats and have boosted demand for cyber security products. The need for better security solutions remains significant for an extensive range of IT sectors, such as business analytics; cloud computing; mobile computing; and social media. Also, automotive systems’ vulnerability to hacking remains a concern is responsible for boosting the entire Network Security Firewall market.

A key trend which will predominantly affect the Network Security Firewall market in the coming years is the Emergence of network security threats and attacks, and Network threat caused by widespread adoption of IoT. As IoT deployment continue to soar the market is anticipated to experience novel network security threats such as the IoT Botnets. The terminology defines how hackers might make this new system their point for substantial incidences by penetrating into devices that plug into IoT. In the year 2016, the leaked Mirai code had created a highly effective horde of bots resulting in array of DDoS attacks.. These factors are anticipated to gain traction in the coming times having a significant impact of the Network Security Firewall market.

Network Security Firewall market by component is segmented into solution and services. The SS7 firewall solutions holds the highest market share. The SS7 Firewall is used to secure the internal network deprived of any external interruptions. This firewall comprises both hardware and software features to complete the real-time SS7 signalling and tracking traffic inspection. The SS7 Firewall identify and block all fraudulent attempts made by the frauds to have access to the internal network via SS7 layer, thereby furnishing the future of Network Security Firewall line fit market.

The overall Network Security Firewall market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Network Security Firewall market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Network Security Firewall industry.