BANGALORE, India, Oct. 23, 2020 /PRNewswire/ — According to the Latest Market Research Report “Network Security Firewall Market By Type (SMS Firewall, Signalling Firewall), By Application (Financial Services, Medical Authorities, Education Authorities, Retail, Manufacturing, IT, Energy, Other) and Region – Global Forecast to 2026″, published on Valuates Reports
The global Network Security Firewall market size is projected to reach USD 5138.1 Million by 2026, from USD 3364 Million in 2020, at a CAGR of 7.3% during 2021-2026.
Major factors driving Network Security Firewall Market size are increasing number of data centers, growth in usage of IP video and virtualization, and network optimization as a cloud service.
The Final Report will cover the impact analysis of COVID-19 on this industry
Get Detailed Analysis of COVID-19 Impact on Network Security Firewall Market
TRENDS INFLUENCING THE NETWORK SECURITY FIREWALL MARKET SIZE
The increasing instances of network and privacy problems have contributed to a growing amount of threats. This, combined with the availability of a few network security firewall vendors, has driven the network security firewall market size.
Due to the COVID-19 pandemic, both public and private entities are required by different governments and regulatory authorities to adopt new practices and maintain social distance. Since then, digital ways of doing business have become the new Business Continuity Plan (BCP) for different organizations. Organizations face a rise in corporate email attacks, with criminals posing as official entities, attempting to trick individuals into sharing access credentials for their account or opening malicious email attachments. Therefore, in order to avoid compromising enterprise networks, a well-connected combination of network firewalls, email protection, and best practices among staff is important. This, in turn, is expected to increase the growth of the network security firewall market size.
Increasing the adoption of cloud computing is expected to, in turn, increase the growth of network security firewall market size. Business organizations have a constant need to safeguard their data stored on a cloud-based platform. In data centers, such data is more secure than on a virtual cloud network. Therefore, data protection is regarded as one of the major challenges for organizations when implementing cloud technologies. Cloud-based firewalls, therefore, play a critical role in the implementation of data protection. Among others, these solutions offer different features in the form of web filtering, email security, and network traffic management.