Next-Gen Firewall Solutions Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Next-Gen Firewall Solutions Industry Prospective:

The global next-gen firewall solutions market size was evaluated at $4 billion in 2023 and is slated to hit $12 billion by the end of 2032 with a CAGR of nearly 12% between 2024 and 2032.

Request Free Sample

Next-Gen Firewall Solutions Market: Overview

Next-gen firewalls represent a major breakthrough in network security and integrate new features compared to conventional firewalls. They focus on port-based filtering and offer an in-depth approach to inculcating new features such as intrusion prevention, cloud integration, advanced threat prevention, and deep packet inspection. Moreover, next-gen firewall solutions protect network systems from cyber-attacks.

Key Insights

• As per the analysis shared by our research analyst, the global next-gen firewall solutions market is projected to expand annually at the annual growth rate of around 12% over the forecast timespan (2024-2032)
• In terms of revenue, the global next-gen firewall solutions market size was evaluated at nearly $4 billion in 2023 and is expected to reach $12 billion by 2032.
• The global next-gen firewall solutions market is anticipated to grow rapidly over the forecast timespan owing to an increase in the use of IoT technologies and BYOD.
• In terms of deployment type, the on-premise segment is slated to register the highest CAGR over the forecast period.
• Based on enterprise size, the large enterprises segment is predicted to contribute majorly towards the global industry growth in the upcoming years.
• Based on end-user, the healthcare segment is predicted to lead the segmental landscape in the forecasting timeline.
• Region-wise, the European next-gen firewall solutions industry is projected to register the fastest CAGR during the projected timespan.

Request Free Sample

Next-Gen Firewall Solutions Market: Growth Factors

A surge in cyber-attacks breaching data integrity can prop up the global market demand

A rise in cyber terrorism and acceptance of cloud-based solutions has driven the expansion of the global next-gen firewall solutions market. Furthermore, an increase in the use of IoT technologies and BYOD will proliferate the expansion of the market globally. Surging awareness about data security along with the launch of new technologies such as machine learning and artificial intelligence is likely to pave the way for humungous growth of the market globally. Moreover, automation features of next-gen firewalls will pave the way for a massive expansion of the market space across the globe.

Next-Gen Firewall Solutions Market: Restraints

An increase in the installation charges of the product can impact the expansion of the global industry by 2032

A rise in the preliminary costs in deployment of next-gen firewall solutions along with an increase in the maintenance & hardware costs as well as software licensing charges can obstruct the growth of the global next-gen firewall solutions industry. Moreover, growing challenges in integrating next-gen firewall solutions with current security infrastructure can impede the global industry expansion.

Next-Gen Firewall Solutions Market: Opportunities

A surge in investments in new product development will open new growth facades for the global market

An increase in the allocation of funds for improving cyber security infrastructure facility along with need for protecting data with strong firewalls is likely to embellish the global next-gen firewall solutions market growth. Moreover, strict data regulations can further optimize the global market expansion in the coming years. Escalating use of cloud computing solutions will steer the global market trends in the coming years.

Next-Gen Firewall Solutions Market: Challenges

Less availability of expert personnel can challenge the global industry expansion over forecast period

Lack of availability of skilled personnel along with vendor lock-in leading to higher costs can prove to be a huge challenge in the growth path of the global next-gen firewall solutions industry. Need for training of professionals incurring huge costs can plummet the growth of the industry globally.

Next-Gen Firewall Solutions Market: Segmentation

The global next-gen firewall solutions market is divided into deployment type, enterprise size, end-user, and region.                                          

In terms of deployment type, the next-gen firewall solutions market across the globe is segmented into on-premise, hybrid, and cloud-based segments. Apparently, the on-premise segment, which accumulated nearly 50% of the global market share in 2023, is anticipated to register the fastest CAGR during the coming years as a result of the ability of the on-premise deployment of next-gen firewall solutions to maintain data privacy. Need for seamless integration of current infrastructure and next-gen firewall systems by various small, mid-sized, and large enterprises has led to a preference for on-premise deployment of next-gen firewall tools.

Based on the enterprise size, the global next-gen firewall solutions industry is segmented into large enterprises and small & medium-sized enterprises segments. Apparently, the large enterprises segment, which dominated the global industry share in 2023, is projected to account markedly toward the expansion of the industry globally in the ensuing years. This can be due to the need for next-gen firewall solutions in large enterprises due to complex networks, high-valued assets, and huge budget allocation for IT along with compliance needs.

On the basis of end-user, the global next-gen firewall solutions market is bifurcated into education, healthcare, government, retail, and BFSI segments. Moreover, the healthcare segment, which led the segmental growth in 2023, is projected to contribute notably toward the segmental space in the coming years. The growth can be credited to the need for healthcare firms to effectively handle sensitive data of patients such as medical records and personal information.

Next-Gen Firewall Solutions Market: Report Scope

Next-Gen Firewall Solutions Market: Regional Insights

North America is forecast to maintain leadership status in the global market over the stipulated timeline

North America, which contributed about half of the global next-gen firewall solutions market share in 2023, is slated to establish a number one position in the global market in the coming few years. In addition, the regional market upsurge in the coming eight years can be credited to a rise in the acceptance of advanced security tools in countries such as the U.S. Moreover, the presence of strong IT infrastructure in the countries of North America and cyber security awareness will drive the regional market trends.

The European next-gen firewall solutions industry is slated to register the highest gains annually in the coming eight years. The expansion of the industry in the European zone can be subject to favorable government schemes along with surging awareness about the benefits of products among various businesses in Europe. Presence of key players in the region will drive the industry trends in the continent.

Key Developments

• In June 2023, Cisco launched next-gen solutions for providing security to various businesses with the help of generative AI.
• In November 2022, Fortinet, a key provider of automated cyber-security services, announced the launch of FortiGate 1000F, the latest in a series of next-gen firewall solutions.

Next-Gen Firewall Solutions Market: Competitive Space

The global next-gen firewall solutions market profiles key players such as:

• Palo Alto Networks
• Check Point Software Technologies
• Juniper Networks
• Fortinet
• Cisco
• WatchGuard Technologies
• Trend Micro
• Barracuda Networks
• Sophos
• McAffee

The global next-gen firewall solutions market is segmented as follows:

By Deployment Type

• On-Premise
• Hybrid
• Cloud-Based

By Enterprise Size

• Large Enterprises
• Small & Medium-Sized Enterprises

By End-User

• Education
• Healthcare
• Government
•  Retail
•  BFSI

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa