In a recent published report, Kenneth Research has updated the market report for Global Enterprise (Business) Firewall Hardware 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 Global Enterprise (Business) Firewall Hardware 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.
Global Enterprise/Business Firewall Hardware Market Overview
Enterprise/business firewall hardware is referred to a network security device that controls the flow of unauthorized traffic. A hardware firewall uses packet filtering to examine the header of a packet to determine its source and destination. Business firewall hardware is an innovative technology equipped with numerous functions to protect the enterprise system from various threats such as data theft.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Market Size and Forecast
The global enterprise/business firewall hardware market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Additionally, the factors propelling the growth of enterprise/business firewall hardware market includes growing incidence of data theft and rising demand for real-time threat intelligence firewall network security devices. Likely, introduction of new policies such as bring your own device (BYOD) along with growing adoption of network security devices is believed to boost demand for enterprise/business firewall hardware.
In terms of regional platform, North America accounted for the largest market of enterprise/business firewall hardware in terms of revenue in 2016. Further, North America is expected to continue its dominance over the forecast period owing to growing demand for network security device from numerous organizations. Additionally, U.S. is the dominating country of enterprise/business firewall hardware market due to high preference for business security devices and continuous adoption high performing network security solutions.
Europe region captured for 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 increasing investment to enhance network security across enterprise environments and increasing strict government regulations regarding consumer privacy.
Asia-Pacific region is believed to show a tremendous growth by the end of 2024. Additionally, the growth of enterprise/business firewall hardware is riding on the back of growing enterprise networks and increasing network security threats. Japan and China lead the Asia-Pacific enterprise/business firewall hardware market in 2016.
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The major key players for enterprise/business firewall hardware 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 hardware market in the following segments:
E-commerce & Retail
Global enterprise/business firewall hardware 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
Factors such as growing advancement in network security devices and increasing number of cyber-crimes are believed to be the major factor behind the rapid growth of enterprise/business firewall hardware market across the globe. Further, development of next generation firewalls to protect the enterprises network from numerous threats such as data theft, malicious attacks and others is envisioned to bolster the growth of enterprise/business firewall hardware market by the end of 2024. Additionally, evolution of firewall technology coupled with rising network security investment by several enterprises is projected to flourish the growth of enterprise/business firewall hardware market.
Furthermore, growing strict policy & regulations regarding consumer privacy and emergence of new policies such as bring your own device are predicted to propel the growth of enterprise/business firewall hardware market. In addition to this, rising demand for advanced security devices from large and medium enterprise is expected to propel the of enterprise/business firewall hardware market.
However, high cost associated with the network security devices is anticipated to hamper the growth of enterprise/business firewall hardware market. Moreover, slow rate adoption of new technologies in developing and underdeveloped nations is also projected to hinder the growth of enterprise/business firewall hardware market during the forecast period.
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