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    1. Industry Trends & Research
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    Enterprise Firewall Market Projected to Reach $25 Billion by 2033

    March 11, 2025
    Rising demand for advanced threat protection in enterprise firewall market is expected to provide lucrative opportunity for the growth of the market during the forecast period.

    According to Allied Market Research, the enterprise firewall market was valued at $11.3 billion in 2023, and is estimated to reach $25 billion by 2033, growing at a CAGR of 8% from 2024 to 2033.

    The enterprise firewall market is expected to witness notable growth owing to increase in adoption of network security services, rise in adoption of cloud-based solutions and incorporation of AI and ML algorithms. On the contrary, high costs of integration and lack of skilled expertise in enterprise firewall limits the growth of the enterprise firewall market.

    Hardware Segment Accounted for Largest Share in 2023

    By offering, the hardware segment accounted for the largest share in 2023, contributing for more than two-fifths of the market revenue. Owing to rise in concerns regarding effective security solutions including data damage and personal information safety in several industries which has proliferated numerous opportunities for the hardware segment in the market.

    On-Premises Segment Accounted for Largest Share in 2023

    By deployment mode, the on-premises segment accounted for the largest share in 2023, contributing for more than three-fifths of the market revenue. Owing to large enterprises, government organizations, and financial institutions prioritize on-premises firewalls to maintain complete control over network security and prevent external breaches.

    Large Enterprises Segment Accounted for Largest Share in 2023

    By enterprise size, the large enterprises segment accounted for the largest share in 2023, contributing for more than three-fifths of the market revenue. Large enterprises are prime targets for ransomware, DDoS attacks, and data breaches, driving the need for advanced firewall solutions with AI-powered threat detection.

    BFSI Segment Accounted for Largest Share in 2023

    By application, the BFSI segment accounted for the largest share in 2023, contributing for more than one-third of the enterprise firewall industry revenue. The BFSI sector is a prime target for ransomware attacks, financial fraud, and phishing scams, driving the need for advanced next-generation firewalls (NGFWs) with AI-powered threat detection.

    North America Region to Maintain its Dominance by 2033

    By region, the North America segment held the highest market share in terms of revenue in 2023, contributing for more than one-third of the market revenue. North America faces frequent ransomware, phishing, and DDoS attacks, pushing enterprises to invest heavily in advanced firewall solutions with AI-driven threat detection and Zero Trust security.

    For more information on Allied Market Research's report, click here.