Sat, 05 Dec 2020

The development and enforcement of these smart infrastructures are likely to contribute to the growth and employment of security measures subsequently. Furthermore, Asia-Pacific is more likely to get targeted by cybercriminals owing to the growth in digital transformation and increasing source of vulnerability from rising IoT connectivity. There is increase in several internet users along with greater interconnectivity among 4G mobile devices and higher mobile network traffic. The rising threat of cybercrime in APAC is also majorly because of the lack of transparency resulting in feeble cyber enforcements and regulations.

Cyber attacks across the globe are getting more frequent and sophisticated, particularly in North America and Europe. By 2025, Europe's economic growth and competitiveness are expected to spur with the penetration of smart systems in its significant financial and social sectors including, transportation, energy, public service, along with healthcare.

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Impact of COVID-19 on Network Security Firewall Market:

The COVID-19 pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day-by-day, which is affecting the world's technology supply chain too. According to the Center for Strategic and International Studies, owing to COVID-19 impact, the US would experience a contraction in GDP in the second quarter. Further, as per the US Conference on Trade and Development (UNCTAS), foreign direct investment (FDI) flows could fall between 5% and 15% to their lowest levels since the 2008-2009 financial crisis. Due to the shutdown of businesses and the fall in the demand for network security firewalls in the first quarter of 2020, the market is significantly impacted. Moreover, due to the falling GDP, the market will have a negative impact on the growth rate of the network security firewall market.

Strategic Insights

Product development strategy is commonly adopted by companies to expand their foot print worldwide and meet the growing demand. This strategy is mostly observed in Europe. A few recent developments are listed below:

2020: Anam Technologies announced Managed Services business that deals with the detection and filtration of grey-route traffic necessary for subscriber protection and full A2P monetization against SPAM & fraud.

2019: Cisco introduced patches for holes in software for Nexus 3000, 3500, 9000 switches and for Firepower 4100 Series next-generation firewall and Firepower 9300 security appliance.

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Contact Information:

The Insight Partners

533, 5th Floor,

Amanora Chambers, East Block, Amanora Township,

Kharadi Road, Hadapsar, Pune-411028

Email :sales@theinsightpartners.com

Phone : +1-646-491-9876

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