Allied
Market Research published a report, titled, "Network Security Firewall Market by Component (Solution and Services), Solution
(Signaling Firewall, and SMS Firewall), Service (Professional Services and
Managed Services), Deployment Model (On-premise, Cloud, and Virtualization),
and Type (Packet Filtering, Stateful Packet Inspection, Next-generation
Firewall, and Unified Threat Management): Global Opportunity Analysis and
Industry Forecast, 2020–2030." According to the report, the global network
security firewall industry generated $3.48 billion in 2020, and is estimated to
generate $24.34 billion by 2030, witnessing a CAGR of 21.6% from 2020 to 2030.
COVID-19 scenario:
➢ Owing to lockdown and social distancing norms, malls and shops have been closed
and people have been relying on online retailers and e-commerce websites for
their shopping needs. This burdened the banking and financial sectors to invest
enormously in the security of payment gateways to protect increased numbers of
online transactions.
➢ This led to increased demand for network security firewalls.
➢ In order to protect personal patient data from cybercriminals and implement
data analysis tools, the demand for network security firewalls in the
healthcare sector increased significantly.
➢ Many organizations adopted the "work from home" culture and these
remote working conditions led to increased need for corporate data protection,
which in turn, led to implementation of network security firewall.
Surge in demand for network security and privacy
and rise in number of cyber-based attacks and frauds drive the growth of the
global network security firewall market. However, high installation and
maintenance costs and complex demands regarding infrastructure and hardware
hinder the market growth. On the other hand, increase in awareness about data
security and privacy presents new opportunities in the coming years.
Based on component, the solution segment held the
highest market share in 2020, accounting for nearly three-fourths of the global
network security firewall market, and is estimated to maintain its leadership
status throughout the forecast period. This is due to widespread use of
detection and threats such as malware or malicious processes that lower the
performance of the hypervisor. However, the services segment is projected to
manifest the highest CAGR of 22.6% from 2021 to 2030, owing to increased demand
for network security and privacy, advances in digital transformation in the
telecommunications industry, real-time analysis, and management regulations.
Based on deployment type, the on premise segment
accounted for the largest share in 2020, contributing to more than half of the
global network security firewall market, and is projected to maintain its lead
position during the forecast period. This is due to advancements in on premise
technologies and adoption of new IoT-based techniques and competition among
SMEs. However, the cloud segment is expected to portray the largest CAGR of
23.6% from 2021 to 2030, owing to cost efficiency, importance of cybersecurity,
and highly automated nature of cloud security.
Based on region, North America held the highest market share
in terms of revenue in 2020, accounting for nearly two-fifths of the global
network security firewall market, and is expected to maintain its dominance by
2030. This is due to rapid advancements in mobile security technologies and
huge investments in data security with rise in cyber-attacks. However,
Asia-Pacific is projected to witness the fastest CAGR of 23.3% during the
forecast period, owing to the rapid advancements in mobile security
technologies and several government initiations toward digitalization in
developing countries.
Scanwatch, the
creator of AI-powered Crime Predictor loss prevention software for self-checkouts
- is introducing AI software for full store security monitoring. Instead of
focusing solely on the checkout area, the software can identify what items a
particular shopper has picked up from the store shelf.
The new software is currently being tested in a
semi-autonomous store setting. In the initial trial the software had managed to
cut the theft rate by 42.02%.
Utilizing only the store’s existing video security
cameras, the program tracks the shopper’s movements through the store, noting
the items the shopper takes from the shelves and places into the shopping cart
or basket. The program then compares this information to what the shopper
actually scans at the checkout to see if all the items taken from the shelves
have been paid for.
“For instance, a shopper might pick up three packs
of cheese and a bottle of wine but might only scan and pay for the cheese at
the checkout. The program would automatically and in real time notify a store
employee about the discrepancy or an alarm would sound before the shopper left
the store. The program can also be integrated with security gates, which would
stay shut if not all the items have been paid for,” explained the CEO of
ScanWatch, Saulius Kaukenas.
The product is fully compliant with GDPR
requirements: no biometric or other personal data is used for shopper
identification, and nothing is stored after the customer checks out.
In the words of Mr. Kaukenas, this solution aims
to improve the traditional electronic article surveillance framework, where
items are equipped with security tags or presented on locked shelves.
“Traditional EAS frameworks require significant
hardware and human investments. In recent years, we have seen security tags
installed on more and more product categories, including common foods or
household goods, requiring more man-hours and increased costs to administer the
tagging. This does not scale: hardware-based product security is no longer the
answer,” said Mr. Kaukenas.
According to Mr. Kaukenas, retail security up
until now has been a compromise between convenience and loss prevention.
“With our new AI based program we don’t have to
compromise. The EAS tags are not used, which reduces cost for the stores, but
anti-fraud measures are maintained if not enhanced, and the customer experience
remains smooth. This approach also helps to reduce the waste of EAS tags.”
The new product is undergoing real-world trials in
a semi-autonomous European store setting. The advent of new shopping concepts,
including ‘Scan & Go’ or unmanned stores, calls for new designs in retail
security infrastructure.
“Currently the checkout area also serves as a
security gate. Yet with the rise of new shopping concepts, a holistic always-on
article security framework is needed,” added S. Kaukenas.
ScanWatch product offerings currently include
AI-powered apps to prevent checkout fraud and streamline the self-checkout user
experience. Crime Predictor visually inspects every item scanned at the
self-checkout and compares the scanned image with the product database. It
detects barcode switching, no-scan, no-pay scenarios, as well as mis-scanning
of unpacked items (e.g. selecting cucumbers instead of avocados). In real-world
operational settings, it has been proven that Crime Predictor can detect 90% of
attempted self-checkout fraud.
Another company product, Picklist Assistant,
automatically identifies scanned unpacked products such as fruit, vegetables,
or baked goods, thus eliminating the need to manually select the product from a
menu.
In 2023, Baltic retailers reported a threefold
increase in theft-related retail losses. According to the ECR Retail Loss
survey, the losses due to theft have increased by 33% compared to pre-pandemic
levels. The British Retail Consortium states that the retail theft rate this
year has grown by 28 percent. Many major US retailers also drew attention to
growing shrinkage in their Q3 investor calls.
In response to increasing retail theft, leading
networks are deploying ScanWatch’s products in the Baltic States, Poland,
Germany, and North America.
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