The global market of network security firewall is expected to grow from 3.0 billion US$ of 2018 to 5.3 billion US$ by the year 2023 with the CAGR of 12.2% from 2019 to 2023 as per the report of Markets and Markets. The increase in demand for Network security and privacy in various areas is the key factors driving the global market of Network Security Firewall.
The market of firewall is segmented into various types and different types have different functionalities. Diameter firewall sub-segment is expected to it expected to grow at the highest CAGR due to its use in the telecom industry.
Managed services segments hold the largest market share due to its extensive use in different industries. Managed service is used before and after the deployment of network security firewall and keep everything in check while the service is in use. Managed services are necessary for the proper functioning of managed services. Malicious intrusion and SMS malware are expected to grow the market of managed services.
Key players of the network security firewall are also included in the report along with their complete business history and product details. The market is also segmented based on the region and Europe is expected to grow at the highest CAGR during the forecast period of the report. The financial, social and political conditions of the regions are taken into consideration for a detailed report.