The global firewall-as-a-service market revenue was around US$ 1.8 billion in 2022 and is estimated to reach US$ 15.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 24.6% during the forecast period from 2023 to 2031.

Firewall-as-a-Service (FWaaS) is used in filtering network traffic to safeguard organizations from both outside and inside threats. It also delivers features like network monitoring, packet filtering, Internet Protocol security (IPsec), secure sockets layer virtual private network (SSL VPN) support, and Internet Protocol (IP) mapping features, it also has deeper content inspection abilities that can determine malware attacks and other threats.

Factors Influencing Market Growth

- The rise in phishing threats and malware among companies and the increase in the adoption of IoT and BYOD trends are expanding the growth of the firewall-as-a-service market.

- The surge in demand for the cloud-based firewall-as-a-service model positively influences the growth of the firewall-as-a-service market.

- The complexities of device security and budget limitations among organizations hinder the growth of the firewall-as-a-service market.

- The rise in adoption of mobile device applications and platforms, and the requirement for strong authentication techniques, and the transformation in the traditional network management solutions industry are anticipated to show lucrative opportunities for growth of the firewall-as-a-service market during the forecast period.

Impact of COVID-19

The firewall-as-a-service (FWaaS) market was positively influenced by the COVID-19 pandemic and showcased a positive growth rate during the period because of a dramatically increased digital dependence during the lockdowns and the growing number of cyber threats, which contributed towards the growth of the firewall-as-a-service (FWaaS) market.

Regional Analysis

In 2022, North America dominated the firewall-as-a-service (FWaaS) market and is expected to maintain its position during the forecast period because of its high concentration of firewall-as-a-service vendors like Palo Alto Networks, Microsoft Corporation, and SonicWall, which is anticipated to push the firewall-as-a-service market forecast within the region during the forecast period.

Also, Asia-Pacific is anticipated to notice significant growth during the forecast period because of the rapid technological and economic developments in the region, which is anticipated to boost the growth of the firewall-as-a-service industry in the region in the coming few years.

Leading Companies

The leading prominent companies profiled in the global firewall-as-a-service market are: -

- Amazon Web Services, Inc
- Barracuda Networks, Inc.
- Cato Networks
- Check Point Software Technologies Ltd.
- Cisco Systems, Inc.
- Forcepoint
- Fortinet
- IBM Corporation
- Juniper Networks, Inc.
- McAfee Corp.
- Microsoft Corporation
- Palo Alto Networks
- SonicWall
- Sophos Group plc
- Trellix
- WatchGuard
- Zscaler
- Other prominent key players

Segmentation Outline

The global firewall-as-a-service market segmentation focuses on Service Model, Deployment Model, Enterprise Size, Industry Vertical, and Region.

Segmentation based on Service Model

- Infrastructure as a Service
- Platform as a Service
- Application PaaS
- Integration PaaS
- Database PaaS
- Others
- Software as a Service
- Customer Relationship Management
- Enterprise Resource Planning
- Operation Management
- Human Resource Management
- Supply Chain Management
- Others

Segmentation based on Deployment Model

- Public Cloud
- Private Cloud
- Hybrid

Segmentation based on Enterprise Size

- Large Enterprises
- SMEs

Segmentation based on Industry Vertical

- BFSI
- Energy and Utilities
- IT and Telecom
- Government and Public Sector
- Healthcare
- Manufacturing
- Food and Beverages
- Industrial Machinery and Heavy Equipment
- High Tech and Consumer Electronics
- Automotive
- Others
- Retail
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa