Artificial Intelligence
Next-generation Firewall Market worth $8.6 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 29, 2024 /PRNewswire/ — The market for next-generation firewalls (NGFWs) will be characterised by integration with cloud security and advanced threat prevention, as well as a focus on IoT, OT, Zero Trust Network Access (ZTNA), Secure Access Service Edge (SASE), and cybersecurity in general. These developments will be driven by the need for comprehensive and adaptable security solutions as well as the changing nature of cybersecurity.
The global Next-generation Firewall Market size is projected to grow from USD 5.0 billion in 2023 to USD 8.6 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period, according to a new report by MarketsandMarkets™. The growth of the Next-generation Firewall Market is propelled by shifting work dynamics, demanding refined security solutions. With remote work becoming commonplace, organizations face heightened cyber threats as employees access networks from diverse locations using personal devices. Next-Generation Firewalls (NGFWs) equipped with advanced threat detection mechanisms ensure secure remote access amidst rising attacks, notably during the COVID-19 pandemic. Additionally, NGFW providers drive compliance advancements, integrating features like application control and intrusion prevention to meet evolving regulatory standards and secure enterprises against sophisticated cyber threats.
Browse in-depth TOC on “Next-generation Firewall Market”
432 – Tables 52 – Figures325 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2017-2028
Base year considered
2022
Forecast period
2023–2028
Forecast units
Value (USD Million/USD Billion)
Segments Covered
Offering, Application, Organization Size, Deployment Mode, Vertical, And Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Major vendors in the global Next-generation Firewall Market include Palo Alto Networks (US), Cisco (US), Fortinet (US), Check Point (Israel), Juniper Networks (US), Barracuda Networks (US), SonicWall (US), Zscaler (US), Forcepoint (US), Hillstone Networks (US), Versa Networks (US), NordLayer (US), Cato Networks (Israel), CrowdStrike (US), Trend Micro (Japan), Huawei (China), Sophos (UK), Atrity (India), Easi (Belgium), Zyxel Networks (India), Nomios (Netherlands), WatchGuard (US), Sangfor (China), GajShield (India), and H3C (China).
Based on the organization size, SMEs are to grow at the highest CAGR during the forecast period.
The exponential growth of SMEs in the Next-generation Firewall Market can be attributed to several key factors, such as increased awareness of cyber threats, which compels SMEs to invest in security measures like NGFWs, safeguarding their valuable data and operations from rising risks. Additionally, the expanding regulatory landscape mandates data protection measures even for smaller businesses, driving SMEs to adopt compliant security solutions such as NGFWs with intrusion detection and data loss prevention features. Moreover, the widespread adoption of cloud computing and digital transformation initiatives among SMEs creates new security concerns, prompting the adoption of NGFWs with cloud-based deployment options tailored for SME needs. Advancements in technology have made NGFWs more affordable and easier to manage for SMEs, further fueling their adoption, along with the availability of Managed Security Service Providers offering NGFW management and monitoring services specifically designed for resource-constrained SMEs.
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By deployment mode, cloud/virtual accounts for the highest market size during the forecast period.
The cloud/virtual deployment mode has the largest market size in the Next-generation Firewall Market due to several factors such as agility, scalability, reduced hardware costs, simplified management, and improved accessibility. Cloud-based NGFWs offer on-demand provisioning and scaling of security resources, which is crucial for organizations with dynamic environments and fluctuating network traffic needs. By eliminating the need for dedicated hardware appliances, cloud deployments translate to significant cost savings on upfront purchase, maintenance, and power consumption, making NGFW solutions accessible to organizations of all sizes, including budget-conscious SMEs. Cloud providers handle infrastructure management, patching, and updates, freeing internal IT teams to focus on strategic security initiatives. Moreover, cloud-based NGFWs enable secure remote access from anywhere with an internet connection, benefiting organizations with geographically dispersed workforces or employees who frequently travel.
By region, Asia Pacific is to grow at the highest CAGR during the forecast period.
The Asia-Pacific region is growing at the fastest rate in the Next-Generation Firewall (NGFW) market due to several key factors propelling digitalization and cybersecurity demands. Rapid digital transformation, increasing internet penetration, and government initiatives, such as India’s Digital India and China’s cloud service development, fuel the need for robust cybersecurity solutions like NGFWs to safeguard critical data and transactions. The region’s growing economy and increased IT spending, exemplified by China’s technology sector and India’s IT outsourcing industry, contribute to substantial investments in advanced security technologies like NGFWs. The rising cyber threat landscape, evidenced by recent incidents in Thailand and South Korea, underscores the crucial role NGFWs play in defending against attacks. Additionally, the region’s increased awareness of cyber threats and the development of a skilled cybersecurity talent pool drive heightened demand for NGFW solutions, fostering a positive feedback loop that supports the market’s rapid growth.
Top Key Companies in Next-generation Firewall Market:
Palo Alto Networks (US), Cisco (US), Fortinet (US), Check Point (Israel), Juniper Networks (US), Barracuda Networks (US), SonicWall (US), Zscaler (US), Forcepoint (US), Hillstone Networks (US), Versa Networks (US), NordLayer (US), Cato Networks (Israel), CrowdStrike (US), Trend Micro (Japan), Huawei (China), Sophos (UK), Atrity (India), Easi (Belgium), Zyxel Networks (India), Nomios (Netherlands), WatchGuard (US), Sangfor (China), GajShield (India), and H3C (China) are the key players and other players in the Next-generation Firewall Market.
Recent Developments
In September 2023, Cisco unveiled Secure Firewall 4200 Series appliances and Threat Defense 7.4 software, introducing cutting-edge capabilities for new-normal firewalling. Leveraging inference-based traffic classification and collaboration across the Cisco portfolio, it addresses the challenges of hybrid work and encrypted traffic profiles, offering enhanced threat visibility and streamlined operations.In May 2023, Palo Alto Networks launched Cloud NGFW for Azure, integrating its ML-powered next-generation Firewall as a fully managed Azure-native ISV service. This solution brings Advanced Threat Prevention, URL Filtering, WildFire, and DNS Security powered by AI and ML. It effectively halts known, unknown, and zero-day threats, facilitating secure and accelerated application migration to Microsoft Azure.In November 2022, Fortinet introduced the FortiGate 1000F series, a cutting-edge next-generation firewall (NGFW) boasting unparalleled performance and energy efficiency. Leveraging purpose-built security processing units, it offers 7.4x faster firewall throughput, 7x higher IPsec VPN performance, and advanced threat protection, ensuring robust security for enterprise data centers.In January 2022, Check Point and NVIDIA partnered to integrate Quantum Lightspeed hyper-fast firewalls with NVIDIA’s advanced ASIC, achieving line-rate firewall performance at network speed. This partnership introduces a significant network security revolution, offering 10x lower latency and 5x faster security throughput, with 20x better price performance than competitors.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=32240698
Next-generation Firewall Market Advantages:
Granular visibility into network traffic is made possible by NGFWs, which give businesses the ability to recognise and monitor the services and apps that are operating on their networks. This improves bandwidth management and security policy enforcement.NGFWs simplify security management by combining several security services, such as web filtering, SSL/TLS inspection, intrusion detection and prevention, firewalling, and antivirus software, onto a single platform.With the help of NGFWs, branch offices and remote employees can safely connect to corporate networks and access resources from any location at any time. These solutions include virtual private networks (VPNs) and secure sockets layer (SSL) VPNs.High network traffic volumes and scalable installations are supported by NGFWs, which guarantees maximum performance and dependability even in expansive and complicated network environments.NGFWs give businesses fine-grained control over network access and guarantee regulatory compliance by enabling them to create and implement granular security policies based on user identification, device type, application, and content.In order to allow proactive threat detection and response capabilities and to deliver real-time threat intelligence updates, NGFWs integrate with SIEM (security information and event management) systems and threat intelligence feeds.In order to ensure a consistent security posture across hybrid and multi-cloud environments, NGFWs provide cloud-based management and deployment options that enable organisations to extend their security rules and enforcement mechanisms to cloud-based apps and services.NGFWs facilitate automated security orchestration and response (SOAR) functionalities, which empower establishments to mechanise recurring security duties, optimise incident response procedures, and enhance overall security posture by expediting threat identification and resolution.Report Objectives
To define, describe, and forecast the Next-generation Firewall Market based on – offering, application, organization size, deployment mode, vertical, and region.To define, describe, and forecast the Next-generation Firewall Market by – offering, application, organization size, deployment mode, vertical, and region.To forecast the market size of five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin AmericaTo analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market.To provide detailed information related to the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Next-generation Firewall Market.To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Next-generation Firewall Market.To profile the key players of the Next-generation Firewall Market and comprehensively analyze their market size and core competencies in the market.To track and analyze competitive developments, such as new product launches, mergers and acquisitions, and partnerships, agreements, and collaborations in the global Next-generation Firewall Market.Browse Adjacent Market: Information Security Market Research Reports & Consulting
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STOCKHOLM, Oct. 11, 2024 /PRNewswire/ — The following representatives of ASSA ABLOY AB’s shareholders will be members of the Nomination Committee for the 2025 Annual General Meeting:
– Johan Menckel, Investment AB Latour, Chairman of the Nomination Committee
– Mikael Ekdahl, Melker Schörling AB
– Marianne Nilsson, Swedbank Robur Fonder
– Yvonne Sörberg, Handelsbanken Fonder
– Carina Silberg, Alecta
The Chairman of the Board, Johan Hjertonsson, has been co-opted to the Nomination Committee.
The Nomination Committee shall prepare proposals for the Annual General Meeting in 2025 regarding the election of Chairman of the General Meeting, members of the Board of Directors, Chairman of the Board, Vice Chairman of the Board, auditor, fees for the members of the Board including division between the Chairman, the Vice Chairman and the other Board members as well as fees for committee work, fees to the company’s auditor and, if necessary, changes to the instructions for the Nomination Committee.
The Annual General Meeting will be held on 23 April 2025, in Stockholm, Sweden.
Shareholders who wish to submit proposals to the Nomination Committee should send an email to [email protected].
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72 Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
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Artificial Intelligence
AI in Social Media Market worth $10.33 billion by 2029- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 11, 2024 /PRNewswire/ — The AI in Social Media Market is projected to grow from USD 2.20 billion in 2024 to USD 10.33 billion by 2029, at a compound annual growth rate (CAGR) of 36.2% during the forecast period, according to a new report by MarketsandMarkets™. The market is expected to grow due to the rise in the need for more personalized user experiences, optimized advertising, and automated customer service.
Browse in-depth TOC on “AI in Social Media Market”
315 – Tables 63 – Figures320 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=92119289
Scope of the Report
Report Metrics
Details
Market size available for years
2019-2029
Base year considered
2023
Forecast period
2024-2029
Forecast units
USD (billion)
Segments Covered
Product type, Use case, End user, and Region
Geographics covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered
Major vendors in the global AI in Social Media Market are Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
The major factors driving the market growth of AI in Social Media Market include the introduction of AI-powered deepfake detection in social media to identify and flag altered content. Social platforms are increasingly relying on advanced AI algorithms to detect and flag manipulated videos, images, and audio, addressing growing concerns about misinformation, fraud, and digital deception. Growth in Gen AI-based content creation tools enables brands to create captivating and unique content. These tools empower brands to effortlessly create captivating, unique content at scale, allowing personalized engagement with audiences. The rising demand for highly personalized content and recommendations tailored to user preferences and behavior are shaping the social media market. This personalization boosts user satisfaction, fosters stronger engagement, and increases time spent on platforms, benefiting users and advertisers. Improved collaboration between influencers and brands is boosting the effectiveness of influencer marketing campaigns with AI. AI tools help brands and influencers to better understand the audiences by analyzing data like preferences, behaviors, and trends. This helps both brands and influencers grow their reach and engagement which makes influencer marketing campaigns successful.
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Advent of Gen AI-based content creation tools enables brands to create captivating and unique content.
The rise of gen AI-based content creation tools has transformed social media by empowering brands to create unique content. These tools are powered by advanced language models, enable automated text generation, images, and videos that cover target audiences, and maintain a dynamic presence on platforms. The utilization of gen AI across sectors such as entertainment, healthcare, and marketing agencies is transforming content creation and customer engagement. Gen AI also simplifies content production workflow, reducing time and cost related to traditional content creation methods. Global tech giants are investing heavily in AI technologies to improve user experience, enhance advertising effectiveness, and gain competitive advantages in the AI in social media market.
By Product type, the influencer marketing segment registers for the fastest growing market during the forecast period.
By automating and optimizing influencer marketing, AI social media tools enable brands to make data-driven decisions, reach relevant audiences, and ensure their campaigns are more effective and cost-efficient. AI-based social media tools in influencer marketing assist brands in detecting fraudulent influencers, which can improve the ROI, increase sales, and improve the brand’s reputation. For instance, AI content tools like Lumen5, Canva, Jasper, and Midjourney are major tools for improving influencer marketing strategies by crafting high-quality content.
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By region, Asia Pacific to register the highest CAGR market during the forecast period.
Asia Pacific is a rapidly growing region for AI in social media, compelled by high mobile and internet penetration rates and a young, tech-savvy population. Countries like China, India, Japan, and South Korea are leading the adoption, with social media platforms being central to the region’s social media ecosystem. With the vast amount of content generated in diverse languages, AI in social media is used for content moderation, language translation, and understanding user-generated content, specifically across China and India.
Top Key Companies in AI in Social Media Market:
Some major players in the AI in Social Media Market include Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting
Related Reports:
AI as a Service Market – Global Forecast to 2029
AI Governance Market- Global Forecast to 2029
AI Image Generator Market- Global Forecast to 2030
Natural Language Understanding Market- Global Forecast to 2029
Large Language Model Market- Global Forecast to 2030
Get access to the latest updates on AI in Social Media Companies and AI in Social Media Industry
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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Artificial Intelligence
NTT DATA signs agreement to acquire Aoop and will become a leader in ServiceNow solutions in Latin America
BIELEFELD, Germany and SÃO PAULO, Oct. 11, 2024 /PRNewswire/ — NTT DATA Business Solutions AG, a global unit of NTT DATA, announces that the agreement for the acquisition of Aoop, a leading ServiceNow implementation company in Brazil, has been signed. The terms of the acquisition have been finalized between the companies and will be completed following approval from the Administrative Council for Economic Defense (CADE). Founded in 2017, Aoop supports customers across various industries and is a specialist in the acceleration of automated digital strategies. With Aoop, NTT DATA will expand its operations in the Latin American ServiceNow solutions market, complementing a recent acquisition in the UK focused on strengthening this offering in Europe and the United States.
“With the acquisition of Aoop, we significantly increase our competitive strength in Brazil by offering both SAP and ServiceNow solutions, positioning us alongside market leaders,” says Norbert Rotter, CEO, NTT DATA Business Solutions. “This move will not only secure us a leading position in the fast-growing ServiceNow ecosystem but will also integrates a company with a strong market presence and solid financials to NTT DATA. It will be a significant step in driving our strategic objectives, strengthening our partnership with ServiceNow and our commitment to establishing a Center of Excellence in the region.”
Ricardo Fachin, Managing Director of NTT DATA Business Solutions Brazil adds: “The acquisition of Aoop will solidify our leading position in the Brazilian market. It will enhance synergies with our other Latin American and U.S. operations, accelerating our regional growth. As part of ServiceNow’s global strategy, Brazil will become a significant shoring center for the group. Aoop’s comprehensive portfolio, covering all ServiceNow verticals, will benefit all NTT DATA customers.”
With a strategy focused on driving the future of organizations and providing full lifecycle services, Aoop has completed around 2,500 digital transformation projects and has over 300 professionals certified on ServiceNow solutions. This expertise has led the company to become a ServiceNow Elite Partner in record time. The continuous commitment to excellence and the delivery of innovative solutions have established Aoop as a market reference, integrating intelligent efficiency throughout the entire production chain.
“Aoop leads the ServiceNow market in Brazil. Our integration with NTT DATA Business Solutions will allow us to further expand our solution offerings to existing customers, access new opportunities for joint solutions with SAP customers and accelerate our international expansion,” says Luiz Cesar Baptistella, CEO and founder of Aoop.
The acquisition of Aoop will add 120 customers to the portfolio of NTT DATA Business Solutions, which has been operating in Brazil for 25 years. Aoop will become a subsidiary of NTT DATA Business Solutions – Servicos de Tecnologia Ltda. in Brazil and will operate as an independent company after the acquisition, using the brand name “Aoop, an NTT DATA Company”.
For more information visit nttdata-solutions.com.
About NTT DATA Business Solutions
NTT DATA Business Solutions is a leading global IT service provider focused on SAP with a powerful ecosystem of partners. With more than 35 years of in-depth experience, we enable companies worldwide to become Intelligent Enterprises. We deliver end-to-end solutions that accelerate sustainable growth and success – from strategic consulting and implementation to managed services and beyond. As a global strategic SAP partner, we drive innovation and leverage the latest technologies to support our customers individually and across all industries. Our more than 15,300 dedicated employees in over 30 countries work passionately every day to make it happen.
NTT DATA Business Solutions is part of NTT DATA, a $30+ billion trusted global innovator of business and technology services headquartered in Tokyo. As One NTT DATA we serve 75% of the Fortune Global 100 and are committed to helping customers innovate, optimize and transform for long-term success. NTT DATA is part of NTT Group.
Press Contact NTT DATA Business Solutions
Local
Global
Sofia Baldessar
Sales Operation Director
NTT DATA Business Solutions –
Servicos de Tecnologia Ltda.
1440 Visconde de Nacar Street –
13th floor Curitiba, Paraná, Brazil
T: +55 41 988658826
Email: [email protected]
Jasmin Straeter
Head of Global Communications
NTT DATA Business Solutions AG
Königsbreede 1, 33605 Bielefeld, Germany
T: +49 521 9 14 48 108
Email: [email protected]
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