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Next-Generation Firewall Market Share

Report ID: GMI8548
Published Date: Mar 2024
Report Format: PDF

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Next-Generation Firewall Market Share

Palo Alto Networks and Fortinet hold a significant market share of over 10% in the next-generation firewall industry. These major companies invest heavily in research and development to create innovative solutions that address evolving customer needs. Palo Alto Networks remains at the forefront of security innovation, continually advancing its solutions with state-of-the-art features like machine learning, behavioral analytics, and seamless integration of threat intelligence. This commitment ensures proactive protection against emerging threats and the ever-evolving landscape of security challenges.

Fortinet strengthens its next-generation firewall solutions by incorporating centralized management, automation, and orchestration features. This empowers organizations to efficiently enforce policies, manage configurations, and generate compliance reports across their distributed networks.

Next-Generation Firewall Market Companies

Major players operating in the next-generation firewall industry are:

Check Point Software Technologies
Cisco
Fortinet
Huawei Technologies
IBM
Juniper Networks
McAfee, LLC
Palo Alto Networks
Seqrite
SonicWall Inc.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of next-generation firewall reached USD 4.8 billion in 2023 and is set to witness 7.5% CAGR between 2024 and 2032, led by digital transformation and increasing cloud adoption.

The software segment was valued at over USD 2 billion in 2023, as it eliminates the requirement for specific hardware appliances, resulting in a considerable reduction in initial cost as compared to traditional hardware-based systems.

North America market held a major revenue share of over 35% in 2023, as the corporations in the region are at the forefront of implementing new technologies such as cloud computing, Big Data, and the Internet of Things (IoT).

Check Point Software Technologies, Cisco, Fortinet, Huawei Technologies, IBM, Juniper Networks, McAfee, LLC, Palo Alto Networks, Seqrite, SonicWall Inc. are some of the major industry contenders.