Smart Firewall Market Size

Smart Firewall Market size was valued at USD 9.18 billion in 2023 and is set to cross USD 31.32 billion by 2036, expanding at more than 9.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of smart firewall is evaluated at USD 9.91 billion.

The growth of the market can be attributed to the security provided by smart firewall against improper connection attempts, port scans, and intrusions, and blocks cybercriminals and other unauthorized traffic. The rising incidences of cybercrimes is estimated to drive the market growth. Moreover, the increasing trend of IoT (Internet of Things) among common public, with global IoT market crossing the revenue share of over USD 200 billion in 2019, along with rising internal and external privacy breaches through internet, is expected to boost the smart firewall market growth.