Smart Firewall Market Size & Share, by Type (Cloud, Hardware, Virtual); Service (Professional, Support& Maintenance); End-user (Government, Healthcare, BFSI) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3098
  • Published Date: Sep 02, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Smart Firewall Market size was valued at USD 9.18 billion in 2023 and is set to cross USD 31.32 billion by 2036, expanding at more than 9.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of smart firewall is evaluated at USD 9.91 billion.

The growth of the market can be attributed to the security provided by smart firewall against improper connection attempts, port scans, and intrusions, and blocks cybercriminals and other unauthorized traffic. The rising incidences of cybercrimes is estimated to drive the market growth. Moreover, the increasing trend of IoT (Internet of Things) among common public, with global IoT market crossing the revenue share of over USD 200 billion in 2019, along with rising internal and external privacy breaches through internet, is expected to boost the smart firewall market growth. 


Smart Firewall Market Graph
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Smart Firewall Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Use of Cloud Computing, Artificial Intelligence, and Other Technologies
  • Increasing Advantages of Smart Firewall

Challenges

  • High Costs of Systems
  • Lack of Preventive Maintenance of the Firewall

Smart Firewall Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

9.9%

Base Year Market Size (2023)

USD 9.18 billion

Forecast Year Market Size (2036)

USD 31.32 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Smart Firewall Segmentation

The global smart firewall market is segmented by type into cloud, hardware, and virtual, out of which, the cloud segment is anticipated to hold the notable share in the market during the forecast period on account of increasing adoption of cloud-based technology as it is cost saving, automatically integrated, reliable, and has unlimited storage capacity. On the basis of service, the market is segmented into professional, support & maintenance, and others, out of which, the professional segment is anticipated to hold a substantial share throughout the forecast period, as professional service providers provide a customized and selectively tailored security solution to end-users, to meet their goals.

Our in-depth analysis of the global market includes the following segments:

           Type

  • Cloud
  • Hardware
  • Virtual

             Service

  • Professional
  • Support & Maintenance
  • Others

 

 

           End -User

  • Government
  • Healthcare
  • BFSI
  • Others

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Smart Firewall Industry - Regional Synopsis

Regionally, the smart firewall market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is poised to account for largest revenue share by 2036, on the back of increasing adaptation of novel technologies by the government as well as the public, in the U.S and Canada. Moreover, the high preference of smart firewall amongst the major companies for the security of their sensitive data and consumer privacy, is estimated to boost the growth of the regional market. Furthermore, the growing IT sector in the U.S., with over 30% of the global tech market, is also estimated to promote the market growth. The IT sector expenditure in the U.S. crossed USD 4.5 trillion in 2019, holding the largest share in the world.

The smart firewall market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period on the back of growing telecom sector and evolving technology, along with stringent government regulations for protection against cybercrimes. Moreover, growing IoT market in countries, such as, China, and India, is estimated to boost the market growth. The total expenditure on Internet of Things of China valued over USD 170 billion in 2019. Additionally, there are over 850 million internet users in China, and around 565 million internet users in India, as of 2020.

Research Nester
Smart-Firewall-Market-Share
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Companies Dominating the Smart Firewall Landscape

    • Check Point Software Technologies Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Palo Alto Networks, Inc.
    • Huawei Technologies Co., Ltd.
    • Dell Inc.
    • Juniper Networks, Inc.
    • Cellusys Limited
    • Openmind Networks Limited
    • Telecom Italia Sparkle S.p.A.
    • Route Mobile Limited
    • NetNumber Inc.

In the News

· December 03, 2020: Dell Technologies to bring intrinsic security in the forefront with new PC security solutions.

· April 08, 2021: Palo Alto Networks, Inc. announced the launch of Checkov 2.0 with dependency awareness, for open-source cloud infrastructure scanner.

Author Credits:  Abhishek Verma


  • Report ID: 3098
  • Published Date: Sep 02, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of smart firewall is evaluated at USD 9.91 billion.

Smart Firewall Market size was valued at USD 9.18 billion in 2023 and is set to cross USD 31.32 billion by 2036, expanding at more than 9.9% CAGR during the forecast period i.e., between 2024-2036. Increasing privacy threats and data theft due to rising internet penetration will boost the market growth.

North America is poised to account for largest revenue share by 2036, on the back of increasing adaptation of novel technologies by the government as well as the public, in the U.S.

The major players in the market are Palo Alto Networks, Inc., Huawei Technologies Co., Ltd., Dell Inc., Juniper Networks, Inc., Cellusys Limited, Route Mobile Limited, NetNumber Inc. and others.
Smart Firewall Market Report Scope
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