Enterprise/Business Firewall Software 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 Software Market Overview

Enterprise/business firewall software is defined as software to protect it from various malicious attacks. Business firewall software prevents hackers from intercepting private data from the networked computers. It provides complete visibility into all network traffic based on applications, users, content and devices.

Market Size and Forecast

The global enterprise/business firewall software market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Further, global enterprise/business firewall software market is riding on the back of various factors such as growing adoption of firewall software solutions for protecting it from theft, malicious attacks and unauthorized access. Moreover, increasing importance to reduce the network security risks across various organizations is envisioned to bolster the growth of enterprise/business firewall software market.

In terms of regional platform, North America is projected to lead the market by the end of 2024. Further, U.S. is expected to be the dominating countries during the forecast period owing to high preference for business security and high adoption of advanced firewall solutions such as next generation firewall (NGFW). Moreover, presence of numerous enterprises in North America region is believed to foster the growth of enterprise/business firewall software market.

Europe region accounted for the second largest market of enterprise/business firewall software in terms of revenue in 2016. Additionally, the growth of Europe region can be attributed to various factors such as advancement in firewall software security solutions and rapid urbanization. Western Europe countries such as Germany, U.K and others are witnessing the augmented demand for enterprise/business firewall software due to changing of preference of enterprises from stand-alone network to modern network firewalls with multifunctional security capabilities.CLICK TO DOWNLOAD FREE SAMPLE

Asia-Pacific region is projected to be the fastest growing enterprise/business firewall software market by the end of 2024. Further, the growth is attributed to the expanding enterprise networks and increasing security concerns among the small and medium enterprises. Likely, Japan and China are believed to be the major contributor in the growth of enterprise/business firewall software market in this region during the forecast period.

Market Segmentation

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

By Deployment Type

On-Premise
Cloud

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 software 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

Rising prevalence of data theft and growing number of cyber-crimes across the globe are believed to be the dynamic factor behind the rapid growth of enterprise/business firewall software market by the end of 2024. Further, increasing demand for innovative and advanced technology to protect from theft, malicious attacks and unauthorized access is envisioned to flourish the growth of enterprise/business firewall software market. In addition to this, growing adoption of firewall software solution by small and medium enterprises in developed and developing nation such as U.S., Japan, China and others is predicted to fuel the growth of enterprise/business firewall software market.

Furthermore, stringent government policies regarding consumer privacy and increasing demand for firewall software solution equipped with various functions such as deep packet inspection (DPI) firewall, Intrusion Prevention System, QoS/band management and others are projected to propel the growth of enterprise/business firewall software market.

However, high cost of the firewall software solutions and less adoption of firewall software solutions by small enterprises in underdeveloped nations are anticipated to hamper the growth of enterprise/business firewall software market.

Key players

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

Check Point Software Technologies Ltd.
- Company Overview
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- Business Strategy
- SWOT Analysis
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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.