Enterprise/Business Firewall Hardware Market Size : Global Industry Demand, Growth, share & Forecast 2024

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Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19. Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

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In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.

Global Enterprise/Business Firewall Hardware Market Overview

Enterprise/business firewall hardware is referred to a network security device that controls the flow of unauthorized traffic. A hardware firewall uses packet filtering to examine the header of a packet to determine its source and destination. Business firewall hardware is an innovative technology equipped with numerous functions to protect the enterprise system from various threats such as data theft.

Market Size and Forecast

The global enterprise/business firewall hardware market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Additionally, the factors propelling the growth of enterprise/business firewall hardware market includes growing incidence of data theft and rising demand for real-time threat intelligence firewall network security devices. Likely, introduction of new policies such as bring your own device (BYOD) along with growing adoption of network security devices is believed to boost demand for enterprise/business firewall hardware.

In terms of regional platform, North America accounted for the largest market of enterprise/business firewall hardware in terms of revenue in 2016. Further, North America is expected to continue its dominance over the forecast period owing to growing demand for network security device from numerous organizations. Additionally, U.S. is the dominating country of enterprise/business firewall hardware market due to high preference for business security devices and continuous adoption high performing network security solutions.

Europe region captured for the second largest market of enterprise/business firewall hardware in terms of revenue in 2016. Further, Western Europe countries such as Germany, U.K and others are witnessing the augmented demand for enterprise/business firewall hardware due to increasing investment to enhance network security across enterprise environments and increasing strict government regulations regarding consumer privacy.

Asia-Pacific region is believed to show a tremendous growth by the end of 2024. Additionally, the growth of enterprise/business firewall hardware is riding on the back of growing enterprise networks and increasing network security threats. Japan and China lead the Asia-Pacific enterprise/business firewall hardware market in 2016.CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

Our in-depth analysis segmented the global enterprise/business firewall hardware market in the following segments:

By Industry

E-commerce & Retail
Information Technology
Government
Telecommunication
Manufacturing
Healthcare
Others

By End-User

Small enterprise
Medium enterprise
Large enterprise

By Region

Global enterprise/business firewall hardware market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and Challenges

Factors such as growing advancement in network security devices and increasing number of cyber-crimes are believed to be the major factor behind the rapid growth of enterprise/business firewall hardware market across the globe. Further, development of next generation firewalls to protect the enterprises network from numerous threats such as data theft, malicious attacks and others is envisioned to bolster the growth of enterprise/business firewall hardware market by the end of 2024. Additionally, evolution of firewall technology coupled with rising network security investment by several enterprises is projected to flourish the growth of enterprise/business firewall hardware market.

Furthermore, growing strict policy & regulations regarding consumer privacy and emergence of new policies such as bring your own device are predicted to propel the growth of enterprise/business firewall hardware market. In addition to this, rising demand for advanced security devices from large and medium enterprise is expected to propel the of enterprise/business firewall hardware market.

However, high cost associated with the network security devices is anticipated to hamper the growth of enterprise/business firewall hardware market. Moreover, slow rate adoption of new technologies in developing and underdeveloped nations is also projected to hinder the growth of enterprise/business firewall hardware market during the forecast period.

Key players

The major key players for enterprise/business firewall hardware market are as follows

Check Point Software Technologies Ltd.
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Cisco Systems, Inc.
Fortinet Inc.
Juniper Networks Inc.
McAfee Inc.
Palo Alto Networks Inc.
AhnLab, Inc.
Huawei Technologies Co., Ltd.
WatchGuard Technologies, Inc.