In a recent published report, Kenneth Research has updated the market report for Enterprise (Business) Firewall Router Market for 2021 till 2030. 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 the 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 be 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 Analsysis and U.S. Census Bureau mentions 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Enterprise (Business) Firewall Router Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Enterprise/business firewall router is defined as a physical device which helps to protect the enterprise system from numerous threats such as data theft, ransomware and controls the flow of unauthorized traffic. Enterprise/business firewall router is widely used by large and medium enterprise to protect their systems from threats.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Market Size and Forecast
The global enterprise/business firewall router market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Further, rising network security threats such as hackers, ransomware and others and increasing government regulations regarding consumer privacy are envisioned to bolster the growth of enterprise/business firewall router market across the globe. Additionally, riding on the back of expanding enterprise networks and increasing security challenges are believed to boost the demand for enterprise/business firewall router market.
On the basis of end-user, global enterprise/business firewall router market is segmented into small enterprises, medium enterprise and large enterprises. Further, the large enterprises segment is expected to dominate the overall segment by the end of 2024. Likely, this growth of large enterprises segment is attributed to the increasing adoption of firewall router to protect their systems from threats.
In terms of geography, North America accounted for the largest market of enterprise/business firewall router in terms of revenue in 2016. Further, North America region is expected to continue its dominance during the forecast period aided by U.S. Likely, development of modern network firewalls with multifunctional security capabilities such as intrusion prevention service (IPS) and increasing number of cyber-crimes are believed to bolster the growth of enterprise/business firewall router market in this region.
Europe region captured the second largest market of enterprise/business firewall hardware in terms of revenue in 2016. Further, Western Europe countries such as Germany, U.K and others are witnessing the augmented demand for enterprise/business firewall hardware due to rising investment to enhance network security across enterprise environments and increasing strict government regulations regarding consumer privacy.
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Asia-Pacific region is believed to be the fastest growing enterprise/business firewall hardware market during the forecast period owing to rapid urbanization and growing enterprise networks. Japan and China are the major countries driving the growth of enterprise/business firewall hardware market in this region due to high adoption of firewall network to minimize network threats.
The major key players for enterprise/business firewall router market are as follows
Check Point Software Technologies Ltd.
Cisco Systems, Inc.
Juniper Networks Inc.
Palo Alto Networks Inc.
Huawei Technologies Co., Ltd.
WatchGuard Technologies, Inc.
Scope and Context
Our in-depth analysis segmented the global enterprise/business firewall router market in the following segments:
E-commerce & Retail,
Enterprise/Business Firewall Router Market
Global enterprise/business firewall router 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
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Growth Drivers and Challenges
Increasing demand for innovative and advanced technology to protect enterprise systems from theft, malicious attacks and unauthorized access is envisioned to flourish the growth of enterprise/business firewall router market. Further, stringent government policies regarding consumer privacy is believed to be the dynamic factor behind the rapid growth of enterprise/business firewall router market across the globe. Moreover, growing concerns to limit the network security risks across various organizations is projected to bolster the growth of enterprise/business firewall router market by the end of 2024.
Furthermore, growing advancement in network security devices and increasing number of cyber-crimes are predicted to bolster the growth of enterprise/business firewall router market. Likely, emergence of new policies such as bring your own device coupled with rising security concerns is predicted to propel the growth of enterprise/business firewall router market.
However, high cost of network security routers is anticipated to hamper the growth of enterprise/business firewall router market. Moreover, less adoption of firewall router by small enterprises is also projected to hinder the growth of enterprise/business firewall router market during the forecast period.
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