Web Application Firewall Market Research Report- Forecast till 2023
The global web application firewall market 2020, according to MRFR, is anticipated to reach approximately USD 5.5 billion by the end of 2023 at a CAGR of 15 % during the forecasted period 2017-2023.
In the coming years, the global market is expected to experience rapid growth on the back of various factors, including rising adoption of web applications, the rise in cyber-attacks, and increasing Internet of Things penetration. The rise in Internet of Things implementation, especially in automotive and consumer electronics, is a prediction to generate lucrative opportunities on the global market. The surge in data theft cases has increased the need for the firewall on the web application. They are requested against cyber-attacks such as cross-site scripting and SQL injection for security. Web application firewall (WAF) is recognized for safeguards provided to the servers. WAF’s availability in different forms such as computers, servers, and filters plays a major role in deciding the size of the firewall market for web applications. On the global market, the rising rate of adoption of cloud-based computing technologies serves as a growth factor. Government cyber security regulations also accelerate the advancement of the firewall environment of web applications.
Cloud-based WAF products are gaining popularity on the market because they are completely equipped with anti-malpractice threat management technologies such as ransomware, cyberware, phishing and emerging cyber threats on the global market. This cloud-based approach provides a major benefit by protecting the network even when the user is offline. Various positive attributes such as threat intelligence, bot detection and compliance, caching, Application Program Interface (API) protection, Distributed Denial of Service (DDoS) mitigation, and malware detection are stepping up market development.
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The global firewall market for web applications is segmented by deployment, services, size of organization, security models, end users and region. The market is segmented into on appliance, cloud, and network based on deployment. Of others, the cloud-based web application firewall is the leading category due to advanced malware, phishing, and other cyber-attacks and threats mitigation technologies and solutions.
The segmentation is categorized according to technical services and managed services depending on the companies.
The market is divided into negative security model, positive safety model and hybrid security model.
The web application firewall attracts end users such as banking, insurance, e -commerce, government, telecom, education, healthcare, and others.
The market has been segmented, based on region, into Europe, North America, Asia Pacific and the rest of the world. North America is leading out of these in terms of the growing presence of security vendors.
Outside of developed countries like the US and Canada, North America is the most mature area for the implementation of information security technologies and infrastructure. Market growth is also due to an rise in the number of security breaches and government IT security regulations are expected to encourage governmental organizations and companies to develop their data protection infrastructure, which is expected to help the growth of the security appliance market.
Asia Pacific region is growing significantly in the market, as web and mobile applications in India and China are increasingly being adopted and practiced for business operations. During the forecast period, the growing use of mobile devices for business transactions, especially in the scaling economies, is projected to give prominence to APAC in the application firewall market.
The web application firewall market comprises prominent players such as Citrix Systems, Inc. (U.S.), Barracuda Networks, Inc. (U.S.), F5 Networks, Inc (U.S.), Applicure Technologies Ltd (Israel), Imperva Inc (U.S.), Fortinet, Inc. (U.S.), Akamai Technologies (U.S.), DBAPP Security Co., Ltd (China), Juniper Networks, Inc (U.S.), IBM Corporation (U.S.), NS Focus Information Technology Co Ltd (China) among others.
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Web Application Firewall Market; By Deployment (On Appliance, On Cloud, on network), Services (Professional, managed), Organization Size (Large, SME’s) By Security Models (Negative Security Model, positive Security Model & Hybrid Security Model) and End-Users (Banking, Insurance, Government, E-Commerce, Telecom, Healthcare, Education)- Forecast Till 2023
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