- Flexible scalability, secure access parity, security over migration, identity protection, and secure performance management are some of the advantages of cloud-based firewall service, which has influenced organizations to implement firewall-as-a-service to manage their data packets in the cloud network.

- Additionally, the enormous growth in cloud-based applications, surge in data breaches on the public cloud environment, and ever-changing firewall protocols for business organizations are some of the major factors influencing growth for the firewall-as-a-service in the global market. However, complexity in integrating hosted firewalls with on-premise firewalls and inadequate IT infrastructures in underdeveloped nations are obstructing the market growth.

- In the recent years, firewall-as-a-service has found a place in various industries such as BFSI, government, IT & telecom, healthcare, retail, manufacturing, aerospace & defense, energy & utilities, and others, offering an advanced cloud-based network security solution for the enterprises. As traffic is increasing on an exponential rate over the cloud network, organizations have adopted security solutions like firewalls and endpoint security to protect their data on their respective cloud network.

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Key Market Trends

Data Breaches on Public Cloud Environment will Influence the Market Demand

- As everything everywhere is shifting to the cloud environment, data protection and breaches have become top challenges for the business organizations of various fields such as banks, financial services, government organizations, healthcare institutions, retail, defense, IT & telecom, and many others. According to RedLock Inc., 49% of the data bases across the globe are not encrypted, and 51% organization are somehow exposed to cloud storage services, which in turn brings possibilities of cyber-attacks for applications running in hosted environment.

- Additionally, shifting of traditional IT infrastructure to cloud environment by the user groups have led to rapid surge in endpoints, which has demanded advanced firewall protection services specific to cloud platform. Vendors in the market are offering enhanced version of firewall-as-a-services with SSL offloading, content caching, and load balancing for smooth processing of the applications. Developed countries across the globe are adopting FWaaS as a must needed service to protect their cloud environment and augment overall business functions.

Asia-Pacific will Showcase Maximum Growth Rate in the Forecast Period

- Asia-Pacific is considered as the fastest-growing region with respect to the adoption of firewall-as-a-service among the user groups including large and small enterprises. Stakeholders including government agencies, solution providers, platform providers, integrators and end users are on a high trend of building partnerships with security service providers to protect their cloud environment and network security in the region. The recent partnership between Zscaler, Inc. and NTT Communications Corporation, japan in the year 2019, can be seen as an aggressive move by the global vendors to capture potential markets in the Asia-Pacific region.

- APAC is distinguished to be an ideal region for cybercrimes, due to the expanding digital connectivity, rising cross-border data interfaces, weak regulations and low cyber security cognizance. According to Microsoft Corporation, a large enterprise in Asia-Pacific region, incurs loss more than 300 times than a mid-sized enterprise with respect to cyber security related issues. Additionally, 47% of time, the cost for data breaches goes beyond USD 1 million in the APAC region. According to survey conducted by Cisco Systems Inc. in 2018, APAC shows 5% more daily security alerts than the global average in the category of 100,001 - 150,000 number of alerts. Surely, Asia-Pacific poses great opportunities for the cloud security vendors in the coming years.

Competitive Landscape

As very few players are dominating the market with their technological expertise in firewall-as-a-Service, the global market for Firewall-as-a-Service is expected to be consolidated in nature. Barracuda Networks, Inc., Cato Networks, Check Point Software Technologies, Inc., Cisco Systems, Inc., Forcepoint, Fortinet, Inc., IntraSystems, Juniper Networks, Inc., Microsoft Corporation, OPAQ, Sprout Technologies Ltd, Vocus Communications, and Zscaler, Inc. are some of the major players present in the current market. However, all these players are involved in several strategic development initiatives such as partnerships, new product development, market expansions, and others to maintain their key position in this competitive market.

- June 2019 - Barracuda Networks, Inc. launched Firewall Insights to augment its capability in SD-WAN security. This analytics backed solution will help experts to measure their security platform in this ever-advancing technology of IT security measures. This new innovation is expected to strengthen Barracuda’s position in the global market.

- June 2019 - Zscaler, Inc. became a partner with NTT Communications Corporation, Japan, to provide cloud-based security solutions including firewalls and endpoint securities. This partnership is anticipated to broaden Zscaler’s client base in the Asia-Pacific market.

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