Next-Generation Firewall Market Demand, Analysis and Forecast 2034
Global Next-Generation Firewall Market Growth, Size, Trends Analysis- By Component, Product Type, By Enterprise Type, By Industry Vertical - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: IACT25104 | Pages: 1 - 250 | Formats*: |
| Category : Information & Communications Technology | |||
Global Next-Generation Memory Market Introduction and Overview
According to SPER Market Research, the Global Next-Generation Firewall Market is estimated to reach USD 16904.62 million by 2034 with a CAGR 11.36%.
The report includes an in-depth analysis of the Global Next-Generation Memory Market, including market size and trends, product mix, Applications, and supplier analysis. A next-generation firewall (NGFW) represents the third generation of firewall technology, designed to defend organizations against advanced security threats at the application level using intelligent and context-aware security frameworks. It integrates traditional firewall features—such as stateful inspection and packet filtering—with advanced technologies that enable individuals and businesses to make more informed decisions about internet access. The rising adoption of Internet of Things (IoT) devices and the increasing volume of both internal and external threats across various endpoints are key factors fueling the demand for next-generation firewall solutions and services.
By Component:
The market is categorized into solutions and services based on components. The solutions segment currently dominates, driven by growing enterprise demand for advanced security measures due to the rise in cyber-attacks and the need to protect critical data. Meanwhile, the services segment is projected to grow rapidly, as increasing concerns over cyber threats and data security continue to boost the need for comprehensive firewall support and maintenance services.
By Enterprise Size:
The market is divided into large enterprises and small and medium-sized enterprises (SMEs) based on enterprise size. Large enterprises currently lead the market, driven by the need to enhance productivity, improve agility and flexibility, and ensure protection against cyber-attacks that could disrupt business operations.
In contrast, SMEs are expected to experience the fastest growth due to their growing adoption of cloud platforms aimed at improving scalability, streamlining operations, and enhancing decision-making. However, many SMEs adopt these technologies without adequate security measures. For example, a statement by the U.S. Department of Homeland Security highlighted a significant surge in ransomware attacks, with a substantial portion of the victims being small businesses.
By Industry Vertical:
The market is segmented by industry vertical into BFSI, retail, IT and telecommunication, healthcare, energy and utilities, manufacturing, government, and others, which include education, academic research, aerospace and defense, and logistics. Among these, the BFSI sector leads the market and is expected to grow rapidly, driven by the increasing need to secure financial data on cloud and virtual platforms through advanced firewall solutions.
The government sector is also anticipated to witness notable growth due to the rising adoption of cloud technologies by public agencies. This shift is boosting the demand for next-generation firewalls to prevent data breaches and fraudulent activities. Supporting this trend, reports have highlighted a substantial number of data breaches globally within a short period, emphasizing the urgent need for robust cybersecurity measures across industries.
Regional Insights:
North America currently leads the next-generation firewall market, driven by a surge in cyber-attacks and rising instances of banking fraud. The strong presence of key players such as Palo Alto Networks, Cisco Systems, and Fortinet further supports market growth in the region. Meanwhile, Asia Pacific is expected to witness the fastest growth, fueled by increasing government initiatives promoting the adoption of IoT, cloud technologies, and stricter cybersecurity regulations. For example, India's Cyber Surakshit Bharat initiative aims to enhance awareness and response to cyber threats.
Market Competitive Landscape:
The global Next-Generation Firewall Market is highly consolidated, with several prominent players shaping the industry. Key companies include: Cisco Systems Inc., Barracuda Networks, Inc., Check Point Solution Technologies Ltd., Juniper Networks, Inc., Huawei Technologies Co., Ltd., Palo Alto Networks, Fortinet, Inc., Forcepoint LLC, Sophos Ltd., Zscaler, Inc
Recent Developments:
In September 2023, Cisco introduced the Secure Firewall 4200 Series appliances along with Threat Defense 7.4 software. These new solutions offer advanced features tailored for modern firewall needs, including inference-based traffic classification and seamless integration across Cisco’s security portfolio. Designed to address the demands of hybrid work environments and encrypted traffic, they provide improved threat visibility and more efficient security operations.
In May 2023, Palo Alto Networks launched its Cloud NGFW for Azure, a fully managed, Azure-native ISV service. This next-generation firewall solution, powered by machine learning and AI, includes key security capabilities such as Advanced Threat Prevention, URL Filtering, WildFire, and DNS Security. It is engineered to block known, unknown, and zero-day threats while enabling secure and streamlined application migration to Microsoft Azure.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Technology, By Water Size, By Application |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | Cisco Systems Inc., Barracuda Networks, Inc., Check Point Solution Technologies Ltd., Juniper Networks, Inc., Huawei Technologies Co., Ltd., Palo Alto Networks, Fortinet, Inc., Forcepoint LLC, Sophos Ltd., Zscaler, Inc. |
Key Topics Covered in the Report
- Global Next-Generation Firewall Market Size (FY’2021-FY’2034)
- Overview of Global Next-Generation Memory Market
- Segmentation of Global Next-Generation Firewall Market By Component (Solution, Services)
- Segmentation of Global Next-Generation Firewall Market By Product Type (Hardware, Virtual, Cloud)
- Segmentation of Global Next-Generation Firewall Market By Enterprise Size, (Large Size Enterprises, Small and Medium Sized Enterprises (SMEs)}
- Segmentation of Global Next-Generation Firewall Market By Industry Vertical (BFSI, Retail, IT & Telecommunication, Healthcare, Energy & Utilities, Manufacturing, Government, Others)
- Statistical Snap of Global Next-Generation Firewall Market
- Expansion Analysis of Global Next-Generation Memory Market
- Problems and Obstacles in Global Next-Generation Memory Market
- Competitive Landscape in the Global Next-Generation Memory Market
- Details on Current Investment in Global Next-Generation Memory Market
- Competitive Analysis of Global Next-Generation Memory Market
- Prominent Players in the Global Next-Generation Memory Market
- SWOT Analysis of Global Next-Generation Memory Market
- Global Next-Generation Firewall Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1.Introduction
1.1.Scope of the report1.2.Market segment analysis
2.Research Methodology
2.1.Research data source
2.1.1.Secondary Data2.1.2.Primary Data2.1.3.SPERs internal database2.1.4.Premium insight from KOLs
2.2.Market size estimation
2.2.1.Top-down and Bottom-up approach
2.3.Data triangulation
3.Executive Summary
4.Market Dynamics
4.1.Driver, Restraint, Opportunity and Challenges analysis
4.1.1.Drivers4.1.2.Restraints4.1.3.Opportunities4.1.4.Challenges
5.Market variable and outlook
5.1.SWOT Analysis
5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats
5.2.PESTEL Analysis
5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape
5.3.PORTERs Five Forces
5.3.1.Bargaining power of suppliers5.3.2.Bargaining power of buyers5.3.3.Threat of Substitute5.3.4.Threat of new entrant5.3.5.Competitive rivalry
5.4.Heat Map Analysis
6.Competitive Landscape
6.1.Global Next-Generation Firewall Market Manufacturing Base Distribution, Sales Area, Product Type6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Next-Generation Firewall Market
7.Global Next-Generation Firewall Market, By Component, (USD Million) 2021-2034
7.1.Solution7.2.Services
8.Global Next-Generation Firewall Market, By Product Type, (USD Million) 2021-2034
8.1.Hardware8.2.Virtual8.3.Cloud
9.Global Next-Generation Firewall Market, By Enterprise Size, (USD Million) 2021-2034
9.1.Large Size Enterprises9.2.Small and Medium Sized Enterprises (SMEs)
10.Global Next-Generation Firewall Market, By Industry Vertical, (USD Million) 2021-2034
10.1.BFSI10.2.Retail10.3.IT & Telecommunication10.4.Healthcare10.5.Energy & Utilities10.6.Manufacturing10.7.Government10.8.Others
11.Global Next-Generation Firewall Market, (USD Million) 2021-2034
11.1.Global Next-Generation Firewall Market Size and Market Share
12.Global Next-Generation Firewall Market, By Region, 2021-2034 (USD Million)
12.1.Asia-Pacific
12.1.1.Australia12.1.2.China12.1.3.India12.1.4.Japan12.1.5.South Korea12.1.6.Rest of Asia-Pacific
12.2.Europe
12.2.1.France12.2.2.Germany12.2.3.Italy12.2.4.Spain12.2.5.United Kingdom12.2.6.Rest of Europe
12.3.Middle East and Africa
12.3.1.Kingdom of Saudi Arabia12.3.2.United Arab Emirates12.3.3.Qatar12.3.4.South Africa12.3.5.Egypt12.3.6.Morocco12.3.7.Nigeria12.3.8.Rest of Middle-East and Africa
12.4.North America
12.4.1.Canada12.4.2.Mexico12.4.3.United States
12.5.Latin America
12.5.1.Argentina12.5.2.Brazil12.5.3.Rest of Latin America
13.Company Profile
13.1.Cisco Systems Inc.
13.1.1.Company details13.1.2.Financial outlook13.1.3.Product summary13.1.4.Recent developments
13.2.Barracuda Networks, Inc.
13.2.1.Company details13.2.2.Financial outlook13.2.3.Product summary13.2.4.Recent developments
13.3.Check Point Solution Technologies Ltd.
13.3.1.Company details13.3.2.Financial outlook13.3.3.Product summary13.3.4.Recent developments
13.4.Juniper Networks, Inc.
13.4.1.Company details13.4.2.Financial outlook13.4.3.Product summary13.4.4.Recent developments
13.5.Huawei Technologies Co., Ltd.
13.5.1.Company details13.5.2.Financial outlook13.5.3.Product summary13.5.4.Recent developments
13.6.Palo Alto Networks.
13.6.1.Company details13.6.2.Financial outlook13.6.3.Product summary13.6.4.Recent developments
13.7.Fortinet, Inc.
13.7.1.Company details13.7.2.Financial outlook13.7.3.Product summary13.7.4.Recent developments
13.8.Forcepoint LLC
13.8.1.Company details13.8.2.Financial outlook13.8.3.Product summary13.8.4.Recent developments
13.9.Sophos Ltd.
13.9.1.Company details13.9.2.Financial outlook13.9.3.Product summary13.9.4.Recent developments
13.10.Zscaler, Inc.
13.10.1.Company details13.10.2.Financial outlook13.10.3.Product summary13.10.4.Recent developments
13.11.Others
14.Conclusion
15.List of Abbreviations
16.Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Next-Generation Firewall Market is projected to reach USD 16904.62 million by 2034, growing at a CAGR of of 11.36% during the forecast period.
Next-Generation Firewall Market grew in Market size from 2025. The Market is expected to reach USD 16904.62 million by 2034, at a CAGR of 11.36% during the forecast period.
Next-Generation Firewall Market CAGR of 11.36% during the forecast period.
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Next-Generation Firewall Market size is USD 16904.62 million from 2025 to 2034.
Next-Generation Firewall Market is covered By Technology, By Water Size, By Application
The North America is anticipated to have the highest Market share in the Next-Generation Firewall Market.
Cisco Systems Inc., Barracuda Networks, Inc., Check Point Solution Technologies Ltd., Juniper Networks, Inc., Huawei Technologies Co., Ltd., Palo Alto Networks, Fortinet, Inc., Forcepoint LLC, Sophos Ltd., Zscaler, Inc.
The report includes an in-depth analysis of the Global Next-Generation Memory Market, including market size and trends, product mix, Applications, and supplier analysis.
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