Northbrook, IL -- (SBWIRE) -- 09/24/2021 -- According to a new market research report "Firewall as a Service Market by Service Type (Traffic Monitoring and Control, Compliance and Audit Management, and Automation and Orchestration), Service Model, Deployment Model, Organizational Size, Vertical, and Region - Global Forecast to 2022" published by MarketsandMarkets™, the FWaaS market size is expected to grow from USD 0.56 Billion in 2017 to USD 1.70 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. The demand for FWaaS is driven by various factors, such as the increasing need to fortify the enterprise network against unauthorized and unprecedented strikes, centralized policy management and simplified installation of firewalls for distributed enterprise networks, elimination of the upfront investment cost, rapid upgradation of and alteration to firewall protocols, proliferation of Next-Generation Firewalls (NGFWs), and seamless scalability and reduced operational cost.

Browse 65 Tables and 34 Figures spread through 130 Pages and in-depth TOC on "Firewall as a Service Market"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153320411

The security management service type is estimated to contribute the largest market share in 2017.

Among service types, the security management segment is estimated to have the largest market size in 2017 and is expected to continue its dominance during the forecast period. The major factors driving the growth of this segment include reduced cost of maintaining firewalls, increasing demand for security offerings, instant upgradation of and rectification to firewall protocols, automated compliance gap analysis, and easy deployment of FWaaS.

The hybrid cloud deployment model is expected to grow at the highest CAGR during the forecast period.

The hybrid cloud deployment model is expected to gain the highest traction in the FWaaS market during the forecast period. The hybrid cloud provides more control, reduced risks, cost-efficiency, and better performance. Additionally, it provides an ideal combination of public cloud and private cloud features, such as the versatility and cost-effectiveness of the public cloud, and greater control and security of the private cloud.

North America is expected to contribute the largest market share, whereas Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period.

North America is expected to have the largest market share and dominate the FWaaS market during the forecast period. The major growth drivers for this region are the increasing need to prevent cyber threats, growing adoption of cloud services, better security compliant offerings by vendors, and need for enhanced control and visibility mechanisms.

Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=153320411

The major vendors providing FWaaS solutions and services are Barracuda Networks (US), Cato Networks (Israel), Check Point Software Technologies (Israel), Cisco Systems (US), Forcepoint (US), Fortinet (US), Juniper Networks (US), Palo Alto Networks (US), WatchGuard (US), and Zscaler (US).

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Visit Our Website: https://www.marketsandmarkets.com

Content Source: https://www.marketsandmarkets.com/PressReleases/firewall-as-a-service.asp