Global Network Security Firewall Markets Report 2021: Market is Expected to Reach $8.6 Bn by 2026 from $4.37 Bn in 2021 – Growing Demand for SMS Firewalls – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Network Security Firewall Market(2021-2026) by Component, Solution Type, Signalling Firewall, SMS Firewall, Service, Deployment, Organization Size, Type, Industry Vertical, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.

The Global Network Security Firewall Market is estimated to be USD 4.37 Bn in 2021 and is expected to reach USD 8.6 Bn by 2026, growing at a CAGR of 14.9%.

Key factors such as the rising number of cyber-attacks among different industry sectors have compelled the organizations to adopt a robust security solution to prevent and safeguard the organizational data.

This has led to a rise in the demand for several network security solutions, such as network security firewall solutions and related security solutions. The increase in the global penetration rate of connected devices such as handheld devices and other smart devices has made faster access to information. It has made sensitive data vulnerable to malicious attackers.

Therefore, organizations are willing to invest in network firewall solutions that have benefitted in augmenting the market growth. Other factors such as increasing demand for Next-gen networking solutions and the advancements in digital transformation are further promoting the development of the market.

Conversely, the budgetary constraints, the low initiative towards firewall maintenance are likely to hinder the market’s growth.

Some of the companies covered in this report are Adaptive Mobile Security, AMD Telecom SA, ANAM Technologies, Cellusys, Cisco Systems, Mobelium, Omobio Pvt. Ltd., Openmind Networks, SAP SE.

Market Dynamics

Drivers

  • Increasing Importance of Network Security and Privacy across Organizations
  • High Penetration of Connected Devices
  • Implementation of Next-Generation Networking Technologies
  • Advancement of Digital Transformation in the Telecommunications Industry

Restraints

  • Lack of Preventive Firewall Maintenance
  • Budget Constraints
  • Absence of Basic Network Firewall Restoration

Opportunities

  • Growth in Investment to Improve the Network Security Measures
  • Growing…

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