Managed Firewall Services Market to Witness Comprehensive Growth by 2018 – 2026

Press Release

Managed firewall is a service provided by managed security service providers (MSSPs) to monitor network traffic and address security threats in organizations. Managed firewall service providers embed firewall security throughout the network and provide services such as configuration, administration, monitoring, support, and installation of the firewall system.  Managed firewall solutions integrate security services into products resulting into scalable, manageable, and transparent network infrastructure. Managed firewall services are either standalone or integrated with other security management offerings. Managed firewall services secure business from threats, malware, spam, cybercriminal activities, and viruses. Threat detection and remediation, real-time security monitoring, management, and analysis of firewall logs are few of the key tasks performed by the managed firewall security service providers within organizations.

Managed firewall service providers reduce IT costs by providing end-to-end firewall management services. Managed firewall services also help organizations meet regulatory compliance requirements such as PCI DSS, ISO27001, etc. Managed security services involve services such as consulting, deployment and integration, and monitoring and maintenance. Further, they also include application control i.e. blocking applications and web content filtering, which means blocking of access to malicious websites. Rise in cloud deployment model, increase in investment in IT infrastructure development, and growing number of cyber-attacks with day-to-day technological advancements are the key factors driving the growth of the managed firewall services market. Major cyber-attacks in 2017, such as WannaCry and Petya further  indicate the need for managed firewall services.

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With increasing shift in organizations toward cloud, managed firewall services are also shifting to cloud technology. Identity access management and email security are becoming important aspects of security with increasing adoption of cloud. Besides adoption of cloud, predictive analysis is also a new trend in the managed firewall services market as it helps predicting unknown future events. In the U.S., strict regulations on information security and growing awareness regarding complexities about protection of organization’s sensitive information are pushing enterprises toward adopting managed security services such as managed firewall services. Different regulatory standards in the managed firewall services market include Payment Card Industry – Data Security Standards (PCI- DSS), ISO 27001:2013, SANS Firewall Security policy, National Institute of Standards and Technology (NIST) guidelines, North American Electric Reliability Corporation (NERC) – Critical Infrastructure Protection (CIP) standard, etc. However, the ever-growing complex compliance requirement is a key challenge in the managed firewall services market.

The global managed firewall services market can be segmented on the basis of organization size, deployment type, end-user industry, and region. Based on organization size, the managed firewall services market can be classified into small and medium enterprises (SMEs) and large enterprises. Managed firewall services are divided into on-premise and cloud-based depending on the deployment type. Cloud deployment models are improving network security effectiveness in organization, and hence are expected to gain traction in the market. Based on end-user industry, the managed firewall services market can be segmented into banking, financial services, and insurance (BFSI), government and defense, healthcare, energy and utilities, manufacturing, telecom and IT, retail, and others. BFSI is the key segment driving the managed firewall services market with leading adoption, as cybercrimes and digital frauds are on the rise in the BFSI industry. With increasing adoption of mobile banking, fraud incidents are also increasing, as attackers have gained access to customer information.  

On the basis of geography, the managed firewall services market can be segmented into North America, Asia Pacific, Middle East & Africa (MEA), South America, and Europe. Asia Pacific is expected to be the fastest growing market for managed firewall services during the forecast period. With rapid technological growth, threats from cybercriminals have increased in Asia Pacific, which is expected to drive the managed firewall services market in the region during the forecast period.

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Key players in the managed firewall services market include Cisco Systems, Inc., Symantec Corporation, IBM Corporation, Mindtree Ltd., CenturyLink, Inc., Redcentric plc, Claranet limited, BC Networks, Inc., T-systems International GmbH.,  Interoute Communications Limited, Colt Technology Services Group Limited, SecureWorks, Inc. (Dell), Verizon Enterprise Solutions, SecureData, and SonicWall Inc.

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