Virtual Firewall Revenue Up 51 Percent While High-End Firewall Revenue Fell Off a Cliff in 2Q 2023 According to Dell'Oro Group
REDWOOD CITY, Calif., Sept. 14, 2023 /PRNewswire/ -- According to a recently published report from Dell'Oro Group, the trusted source for market information about the telecommunications, security, networks, and data center industries, the worldwide revenue for virtual firewalls rocketed 51 percent in 2Q 2023 while hardware firewalls barely registered 2 percent revenue growth. The market was deeply affected by a steep revenue drop-off in high-end firewalls preferred by service providers and large enterprises for data center applications.
- In the meantime, enterprise spending on Virtual Firewall revenue has consistently grown by mid-double-digits as enterprise IT shifts to the more cloud-friendly virtual form factor," added Sanchez.
- Additional highlights from the 2Q 2023 Network Security Quarterly Report:
The worldwide firewall market surpassed $3 B and registered 6 percent revenue growth. - The top 4 firewall vendors (Palo Alto Networks, Cisco, Fortinet, and Check Point) owned over 60 percent of the firewall market.
- SaaS- or virtual-based network security solutions experienced a 28 percent revenue increase, while physical appliance network security barely 2 percent bump.