Firewall as a Service Market by Service Type (Traffic Monitoring and Control, Compliance and Audit Management, and Automation and Orchestration), Service Model, Deployment Model, Organizational Size, Vertical, and Region - Global Forecast to 2022
“Factors such as the increasing need to fortify the enterprise network against unauthorized and unprecedented attacks, centralized policy management and simplified installation of firewalls for distributed enterprise networks, and elimination of the upfront investment cost are expected to drive the Firewall as a Service (FWaaS) market growth.”
The FWaaS market size is expected to grow from USD 0.56 billion in 2017 to USD 1.70 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. Some of the challenges that may hinder the growth of the market are limited technical expertise to manage the advanced firewall mechanism, integration of cloud firewalls with traditional firewall platforms, determining the right mix of firewall offerings to avoid performance degradation, and identifying appropriate specifications for the expected network load.
“The automation and orchestration service type is expected to have the fastest growth rate during the forecast period.”
The automation and orchestration service type is expected to grow at the highest CAGR during the forecast period. The fastest growth of this segment is due to benefits offered, such as arrangement and synchronization of automated tasks, and management of interconnections and exchanges among cloud-based and on-premises business units. Furthermore, this service ensures internal and external compliance requirements are fulfilled
“The public cloud deployment model is expected to have the largest market share during the forecast period.”
Among the deployment models, the public cloud segment is expected to grow at the fastest rate during the forecast period, due to the growing adoption of public cloud services, increasing confidence in public cloud security, and runtime scalability.
“Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.”
APAC is projected to be the fastest growing region in terms of CAGR. Growing awareness about the benefits of cloud services, benefits offered by the pay-as-you-go model, increased cloud initiatives by governments, and digital transformation within enterprises are some of the key reasons that have led APAC to become a highly potential market.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 Companies – 31%, Tier 2 Companies – 43%, and Tier 3 Companies – 26%
• By Designation: C-Level – 41%, Director Level – 36%, and Others – 23%
• By Region: North America – 44%, Europe – 33%, APAC – 17%, and RoW – 6%
The key providers in the FWaaS market are:
1. Barracuda Networks (US)
2. Cato Networks (Israel)
3. Check Point Software Technologies (Israel)
4. Cisco Systems (US)
5. Forcepoint (US)
6. Fortinet (US)
7. Juniper Networks (US)
8. Palo Alto Networks (US)
9. WatchGuard (US)
10. Zscaler (US)
The FWaaS market has been segmented on the basis of services types, service models, deployment models, organization size, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overview, products and services, key strategies, new product launches, partnerships, agreements, collaborations, business expansions, and the competitive landscape associated with the FWaaS market.
The report will help the market leaders/new entrants in the following ways:
• This report segments the FWaaS market comprehensively and provides the closest approximations to the revenue numbers for the overall market and subsegments.
• This report helps stakeholders understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities.
• This report helps stakeholders better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions in the FWaaS market.
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