Lewes, DE -- (SBWIRE) -- 02/17/2017 -- The increasing demand from SMEs for UTM, next-generation, and virtualization is expected to drive the market for cloud firewall; the leading segment, network firewall, is expected to grow at an estimated CAGR of 27.9% to reach $1,486.3 million by 2022.

Global market research and consulting organization, has published a study titled "Worldwide Cloud Firewall Management Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022" (September 2016).

According to Publisher, the NGFW and UTM will continue to dominate the market. As per the study, the market will have a significant growth due to the increase in the demand from organizations to seamlessly connect the growing firewall technologies with cloud computing, increased scalability, and availability. The worldwide cloud firewall market is expected to grow at a CAGR of 27.7% during the period 2016–2022 to touch an aggregate of $2,676.0 million by 2022.

The network firewall segment will have the major market share reaching $1,486.3 million by 2022. The market for network firewall is followed by application firewall that accounts for 31.00% in 2016; this impacts the overall market for cloud firewall management. At present, Americas holds the majority of the share. Europe is the second largest region with a huge chunk of the market. The Asia Pacific (APAC) and the Middle East & Africa (MEA) will be having higher growth rates compared to developed regions. The BFSI, healthcare, and government entities are the major end-users of the cloud firewall management. In deployment models, public cloud holds the majority of the share and is expected to reach $1,557.4 million by 2022.

"The cloud firewall management market has huge opportunities lying down for all the stakeholders. The market for cloud deployment is growing within the SMEs due to its cost benefits and the ease of use. The large organizations are preferring private and hybrid cloud and SMEs are preferring more of public cloud. Providers are trying to offer more products on public as the ROI will be more and will be used by more number of end-users. Developing regions are interested in public SaaS model for future scenarios. UTM providers have started offering UTM for large enterprises opening more of challenges for NGFW providers."

The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:

- The report not only highlights users' conundrum (challenges and barriers to adopting cloud firewall management market) but also brings in their perspective on the market. This market has been analyzed by taking into account the key regions – Americas, Europe, APAC, and MEA

- The report analyzes the market according to the types, services, deployment models, end-users, and regions

- The report analyzes the top 15 players in terms of market reach, business strategy, and business focus

- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations

- Stakeholders' insights and key trends (current and future) of the market

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