North America Network Security Firewall Market is expected to reach US$ 2414.0 Mn by 2027

Services Segment to Dominate North America Network Security Firewall Market during 2019–2027

According to a new market research study on “North America Network Security Firewall Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component and Deployment,” is expected to reach US$ 2414.0 Mn by 2027 from US$ 1067.7 Mn in 2018. The market is estimated to grow at a CAGR of 9.6 % from 2019 to 2027. The report provides trends prevailing in the North America Network Security Firewall Market along with the drivers and restraints pertaining to the market growth. Rising adoption of cloud and BYOD technology is the major factor driving the growth of the North America Network Security Firewall market. With proliferation in remote and mobile work, and BYOD (Bring Your Own Device) trend, the hackers have expanded their target from a few employees to the entire network with the help of private emails. As the enterprises continue to make strategic shift to cloud, they have raised the demand for new and innovative methods such as encryption, email archiving solutions, URL Defense, and mobile defense to enhance the security of their networks. However, shortage of skilled labor workforces hinders the growth of North America Network Security Firewall Market.

The network security firewall market is segmented into component, deployment and country. Based on component, the market is segmented into solution and services. In 2018, the solution segment held the largest share in North America network security firewall market. Services is expected to grow with the fastest CAGR in the forecast period. Solution is further segmented into SMS firewall and Signaling. SMS firewall is further segmented into A2PSMS and P2PSMS. Signaling is also segmented into SS7 and diameter. In 2018, SMS firewall held the largest share in North America network security firewall market. Based on deployment, the market is segmented into cloud and on-premise. In 2018, cloud segment held the largest share in the North America network security firewall market. In case of Covid-19 impact, the threat of coronavirus resulting the disease COVID-19 is expected to have disruptive impact on the economy of US and Canada. It has disrupted the supply of goods resulting the US companies to fulfill the orders. It has resulted to reduced labor on supply side, slowdown in the demand for products, and services other side.

Adaptive Mobile Security, AMD Telecom S.A., ANAM Technologies, Cellusys, Cisco Systems Inc., Mobileum Inc., Openmind Networks, SAP SE, Symsoft AB (Sinch) are among the leading companies in the North America network security firewall market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Mobileum through MegaFon announced RAID Risk Platform used to safeguard maximum control of business risks as well as enhance the profitability with the help of 5G networks and LTE Advanced.

                                North America Network Security Firewall Market, By Country, 2019 and 2027 (%)

                                               
The report segments the North America Network Security Firewall Market as follows:

Network Security Firewall Market – By Component

• Services
• Solutions
  •   SMS
    • A2PSMS
    • P2ASMS
  • Signalling
    • SS7
    • Diameter

Network Security Firewall Market – By Deployment

• On premise
• Cloud

Network Security Firewall Market – By Country

• US
• Canada
• Mexico