Firewall-as-a-Service Market Size (2024 - 2029)

Firewall as a Service Market Analysis

The Firewall-as-a-Service Market size is estimated at USD 4.69 billion in 2024, and is expected to reach USD 2.19 billion by 2029, growing at a CAGR of 16.47% during the forecast period (2024-2029).

Cloud-based firewall services offer several benefits to organizations, including flexible scalability, secure access parity, security over migration, identity protection, and secure performance management. As a result, many organizations are implementing firewall-as-a-service to manage their data packets in the cloud network.

• Hardware-based security options are becoming less common, and the implementation of more software-based solutions that use a service delivery paradigm has increased due to widespread cloud adoption. Over the past five years, these changes have accelerated the uptake of FWaaS solutions and other network and security services, bringing about more scalable and user-friendly security solutions.
• The enormous growth in cloud-based applications, the surge in data breaches in the public cloud environment, and ever-changing firewall protocols for business organizations are major factors influencing growth for the firewall-as-a-service in the global market. However, the complexity of integrating hosted firewalls with on-premise firewalls and inadequate IT infrastructures in underdeveloped nations are obstructing market growth.
• 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 enterprises. As traffic increases exponentially over the cloud network, organizations have adopted security solutions like firewalls and endpoint security to protect their data on their respective cloud network.
• The impact of Covid-19 led to a rise in work-from-home and cloud adoption. The majority of IT employees' to-do lists will be dominated by providing remote access. According to Global Workplace Analytics, up to 30% of the workforce could be working from home multiple days per week by the end of the year. More than half (54%) of a Cybersecurity Insiders survey respondents said Covid-19 increased their cloud adoption for workflows and apps. Furthermore, about 66% of respondents anticipate increased security threats to remote workers. No matter where the users are located while working, firewalls must safeguard the organization's networks.

Firewall as a Service Industry Segmentation

Firewall-as-a-Service is the cloud-based firewall protection service provided by vendors. On the basis of deployment, FWaaS can offer firewall protection service to the IT infrastructure placed in hosted, on-premise and hybrid environments as well. The recent, next-generation FWaaS can protect an organization's servers on a platform-as-a-service (PaaS) or infrastructure-as-a-service (IaaS) model by securing in and out traffic between hosted or cloud-based applications.

The Firewall-as-a-Service market is segmented by service model (SaaS, IaaS, PaaS), deployment model (private, public, hybrid), user type (large enterprises, SMEs), industry vertical (BFSI, IT & telecom, retail, manufacturing, aerospace & defense), and geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The report offers market forecasts and size in value (USD) for all the above segments.