London, 10 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global NGFW Market 2015-2019, which is expected to grow at a CAGR of 12.1 percent during the period 2014-2019.
The increase in the number of different types of threat and cyber-attack has led to the launch of many security solutions in the market. Many enterprises and SMEs are updating their infrastructure with the latest advances in technology and, hence, making huge investments in NGFWs. Consolidation of functions is the current need of the consumers investing in NGFWs. Large enterprises, SMEs, and governments are major end-users of the market. Many start-ups have also started investing in NGFWs. High-profile security breaches, regulatory compliance, advancement of security technologies, and expanding infrastructures are the main reasons behind the growth of the Global NGFW market. The demand for smarter and more advanced solutions is increasing with the growing awareness of products and solutions among consumers.
“Many organizations are investing in web applications and, subsequently, NGFWs to increase their competitiveness in the industry,” says Faisal Ghaus, Vice President of TechNavio.
“The priority for any vendor is to keep the pace of product delivery with the industry standards. Business processes are also being migrated to the web to help organizations realize better cost and productivity benefits.”
Key Market Drivers
- High-profile Security Breach
- Regulatory Compliance
- Advancement of Security Technologies
- Expanding Infrastructure
Key Market Trends
- Adoption of Virtualization and Cloud Computing
- Increase in Security Investment by End-users
- Need of Customized Solutions
- Consolidation of Functions
Key Market Vendors
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- Fortinet Inc.
- Juniper Networks Inc.
- McAfee Inc.
- Palo Alto Networks Inc.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
