In a recently published report, Network Security Firewall Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Network Security Firewall Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Network Security Firewall Market is valued approximately USD 3.09 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22.90% over the forecast period 2020-2027. The network security firewall is a safety system that is created for the prevention of unauthorized access to non-public facts on a network. The firewall may be utilized as software program as well as hardware and may segregate a selected network and its records from an out of doors network to keep that precise network facts non-public. The There are a severe amount of benefits that incorporates the usage of a firewall in a network are, particularly the clean set up and the high pace. Enforcing a firewall for a network is also tons less expensive than to have to secure each computer individually. The global pandemic of COVID-19 is propelling the market growth over forecast years due to the growing initiatives of private and government organizations regarding working from home initiatives. To prevent spread of coronavirus many organizations initiated for work from home tactics which leads to the higher demand of network security firewalls to prevent organizational data from theft. Therefore, the growing concern for cyber security and data theft is driving the demand for market over the forecast years.
For instance: In 2019, as per World Economic Forum, cyber-attacks are considered as the top five risks to the global stability. Also, as per Identity theft resource centres, the number of data breach in 2018 was 1257 and increased to 1473 in 2019. Similarly, record exposed in 2017 was 198 million and increase to 471.2 million in 2018. Whereas, cybercrime compliant in 2018 was 351,937 and increased to 467,361 in 2019. In addition, increasing adoption of network function virtualization is the factor creating a lucrative opportunity to the market growth. However, lack of preventive firewall maintenance is hampering the growth of market over the forecast years.
The regional analysis of global Network Security Firewall Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing demand for network security and privacy. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing concern for data theft and cyber security would create lucrative growth prospects for the Network Security Firewall Market across Asia-Pacific region.
Major market player included in this report are:
Hewlett-Packard Enterprise
IBM Corporation
Dell technologies Inc.
Cisco Systems Inc.
Fortinet
SAP SE
Tata communications limited
Twilio Inc.
Orange S.A.
AdaptiveMobile Security Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Solution
Services
By Deployment mode:
Private Cloud
Public Cloud
Hybrid Cloud
By Vertical:
BFSI
Education
Consumer Goods and Retail
Manufacturing
Healthcare and Life Sciences
Others
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By Organizational size:
Large Companies
Small and Mid-sized Businesses
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Network Security Firewall Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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