Meticulous Research® reports that the network security firewall market is set to reach $19.8 billion by 2031, with a CAGR of 20.6% from 2024 to 2031. The market’s growth is driven by government regulations that encourage network security measures, the increasing importance of firewalls in the BFSI sector, rising demands for network privacy, and the impact of digital transformation in telecommunications. Challenges such as insufficient firewall maintenance could affect growth.
Request For Free Sample Report: https://www.meticulousresearch.com/request-sample-report/cp_id=5065?
Emerging Trends and Growth Areas The market is seeing rising demand from SMEs and increased adoption in the healthcare sector, creating growth opportunities. The zero trust security model is a key trend, though misconceptions and a lack of knowledge about network security firewalls present significant challenges.
Component Segmentation The network security firewall market is divided into solutions and services. The solutions segment is expected to capture over 58.0% of the market share in 2024 due to its focus on security capabilities and the growing threat landscape. The services segment, covering both professional and managed services, is projected to grow at a higher rate due to increased adoption across various sectors.
