Albany, NY -- (SBWIRE) -- 11/13/2017 -- Next-generation firewall (NGFW) is third generation firewall technology to perform traditional firewall functions along with advanced network device filtering such as application firewall utilizing deep packet inspection (DPI), an intrusion prevention system (IPS). It is a hardware and software-based network security system that does deep inspection of packet to detect and block attacks in order to secure the system. Next-generation firewall can be defined as a process of gathering, archiving, handling, and reporting of the logs. These logs are generated from several devices, such as routers firewalls, servers, routers and switches.

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NGFW solutions can be hardware, virtual, or cloud-based. NGFW solutions processes a huge amount of computer-generated log data. It brings information from sources outside the firewall and helps in application awareness, state inspection, and identity awareness by performing high-performance SSL inspection using industry-mandated ciphers. The main aim of NGFW solutions is to track security actions and network activities. NGFW solutions help an organization to effectively manage logs and ensure integrity and enhanced business continuity. Such solutions also allow organizations to protect systems, endpoints, and applications against various malicious attacks, cybercriminals, ransom ware, and advanced persistent threats (APTs). NGFW includes integrated intrusion protection system (IPS), bridged and routed modes, and provide the ability to utilize external intelligence sources.

Increased adoption of bring your own device (BYOD) in organizations requires advance level of network security features. NGFW solutions such as SSL encrypted traffic inspection, quality of service (QoS) /bandwidth management, antivirus inspection, website filtering, and third-party identity management helps in better functioning of organizations. Moreover, internal and external threats to an organization are rising rapidly due to advancement in technology. Thus, organizations are deploying NGFW solutions to have a secure business network. Thus, these are major forces which are anticipated to drive the growth of the NGFW market. Enterprises are deploying NGFW services to achieve secure network of system and endpoints against cyber threats.

Factors such as high cost of NGFW solutions and rising adoption of unified threat management (UTM) solutions in small and medium sized enterprises (SMEs) are anticipated to restrain the market growth during the forecast period. Furthermore, resistance of enterprises to use next generation firewall over traditional firewall technology might be a barrier to the growth of the market.

The next generation firewall market can be segmented on the basis of delivery type, services, organization size, industry vertical, and geography. On the basis of delivery type, the market can be segmented into hardware, virtual, and cloud. On the basis of size, the market is segmented into professional and managed services. The market on the basis of organization size can be segmented into small and medium-sized enterprises and large enterprises. On the basis of industry vertical, the market can be segmented into banking, financial services, and insurance; retail, IT and telecommunications, government, utilities, healthcare, energy and utilities, education and others. The increase in digital identities organizations results in massive growth of advanced cyber attacks. Attacks such as distributed denial of service (DDoS), ransom ware, and other attacks have been seen in the BFSI vertical. Thus, players in network security are introducing innovative solutions such as NGFW to meet the changing demands of security in the BFSI industry. Geographical segmentation for the next generation firewall market includes North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America.

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Key players of the next generation firewall market are Cisco Systems, Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Barracuda Networks, Inc., Hillstone Networks, Juniper Networks, Fortinet, Inc., SonicWall Inc., Zscaler, Inc., Forcepoint LLC, Sophos, Ltd. and GajShield Infotech Pvt. Ltd. These players are adopting new product launch as a key strategy to expand their contributions in the NGFW market.