According to the new research report published by The Insight Partners, titled "Network Security Firewall - Global Analysis and Forecast to 2027", the global Network Security Firewall market is expected to reach US$ 10,531.1 million in 2027, registering a CAGR of 13.1% during the forecast period 2019-2027.
In 2018, North America accounted for the largest share in the Network Security Firewall market. APAC region is expected to be the fastest growing region in the Network Security Firewall market. The demand for Network Security Firewall is anticipated to be robust, and will highly impact the communication between mobile operators and applications. This trend is particularly to be witnessed in China, which comprises of largest e-commerce market across the globe, accounting for over 40% of the value of global e-commerce transactions. The BFSI sector is highly developed, and the population prefers to use online payment modes. Such factors create a significant need to implement cyber security tools including, network security firewall.
In the recent few years, Network Security Firewall market has noticed noteworthy M&A and partnership activity. Some of the significant deals include, in 2018 Mobileum Inc. announced the acquisition of Evolved Intelligence, a provider cloud-hosted roaming value-added services, as well as analytics-based fraud management and signaling security solutions for mobile telecommunications operator. the acquisition would strengthen the company’s presence in Europe.
Based on deployment, the on-premises is expected to dominate the Network Security Firewall market during the forecast period. on-premise deployment is majorly adopted by large and well-established companies which are capable of investing such massive capital on maintaining this software. The on-premise structure requires software licenses, in-house server hardware, integration capabilities, as well as IT technicians to support, operate, and manage the complexities issues which may arise during the access of software.
Key findings of the study:
The US holds the largest Network Security Firewall market share in the North America region. .S. is the hub of leading IT & cloud based companies which includes Google, Oracle, IBM and Amazon Web Services etc. The country is the world’s largest economy with a well-developed infrastructure. Also, it has the most influential financial market in the world and one of the largest stock exchange. The data splurge in the country is owing to the presence of several tech & financial institutions. Also, the country has deep integration of IoT based connected devices, that generates huge amount of digital data every second. This factor would help the US market to sustain its share in the Network Security Firewall market.
Market initiatives such as partnership and contracts are expected to be the key growth strategy to be adopted by players for the next two-three years. However, this strategy could impact competition; it is also expected to generate new market as well as product opportunities as recently combined companies will thrive to maintain position and profitability.
Some of the key players operating in the Network Security Firewall market are Adaptive Mobile Security, AMD Telecom SA, ANAM Technologies, Cellusys, Cisco Systems, Inc., Mobelium Inc., Omobio Pvt. Ltd., Openmind Networks, SAP SE, and Symsoft among others.
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