The Network Security Firewall Market Is Expected To Reach Over

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Global Network Security Firewall Market was valued at USD 38.9 Billion in 2021 and is projected to reach USD 101.3 Billion by 2031, growing at a CAGR of 9.8% during the forecast period.

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Global Network Security Firewall Market by Component:

Based on component, it is divided into solution and services. The solutions segment is expected to dominate the market over the forecast period. This is attributed to increased deployment of SMS (short message service) firewalls for network security, anti-spam and fraud prevention, and increased adoption of A2P messaging (deployment of type to anyone) for monetization purposes. Mobile network operators can secure their networks and generate revenue from legitimate A2P use cases by deploying next-generation firewalls. Thus, numerous advantages of the solution segment are driving the growth of the market.

Global Network Security Firewall Market by Deployment Type:
Based on the type of deployment, it is divided into on-premises and cloud-based. The cloud-based segment is expected to hold the major share of the market. Over the years, the demand for cloud based systems is expected to increase significantly due to the cloud based network security firewall software offering improved flexibility, scalability and security to its users. Additionally, it allows end users to receive automatic software updates without additional capital expenditure, thus improving the competitiveness of the technology. Due to these factors mentioned above, cloud-based network security firewall software is expected to receive major market attraction, resulting in major growth rate.

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Main actors :
Key players studied in the global network security firewall market are Adaptive Mobile Security Limited (Ireland), AMD Telecom SA (Greece), ANAM Technologies (Ireland), Cellusys Limited (Ireland), Cisco Systems, Inc. (States United States), Mobileum (United States), Omobio (Sri Lanka), Openmind Networks Ltd (Ireland), SAP SE (Germany) and Sinch (Sweden).

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This press release was published on openPR.

Kevin M. Risinger