Web Application Firewall Market Advancement, Comprehensive Analysis and Developments Status
Market Highlights
Market Research
Future (MRFR) expects significant growth scope for the web application firewall
market 2020, which can reach a valuation of close to USD 5.5 billion by
2023-end. The global market can also advance at a rate of 15 % between 2017 and
2023 (assessment period). We will provide COVID-19 impact analysis with the report,
along with all the key developments since the coronavirus disease outbreak.
Key Drivers and Top Deterrents
Since the
COVID-19 outbreak, the increased vulnerability of web applications has turned
out to be a blessing for cybercriminals that are constantly on the lookout for
smooth entry points across networks. Unprotected web applications have resulted
in a mounting number of data breaches, especially following the pandemic and
the lockdown imposed across nations. As a result, enterprises across several
industries are opting for web application firewalls/WAFs to safeguard their
networks. The increased consumption rate of the internet as well as web related
applications have also led to better growth of the market.
The advent of
the novel coronavirus has brought out the flaws in different videoconferencing
tools, in terms of security. There have been a number of ransom ware attacks
and threats on digital payment systems in light of the boost in digitization in
recent months. Companies now understand that they cannot afford to be lax when
it comes to cyber security, despite the growing need to ensure uninterrupted
operations. Considering the COVID-19 impact, companies are focused on
innovations for unexpected disruptions and also enhance their digital immunity,
which increases the demand for wen application firewall solutions.
The emerging
trend of artificial intelligence and machine learning cannot be ignored, as
these help boost the efficiency of the web app firewall software. More and more
companies are realizing this and are increasingly coming up with highly
advanced products and services that cater to every demand of their end-users.
For instance, in June 2020, Fortinet
launched a new version of its advanced FortiWeb Web Application Firewall
software 6.0. This is the only software to utilize machine learning for
detecting behavioral-based attacks and threats in web applications.
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Segmentation:
The web
application firewall market can be dissected with respect to deployment,
services, organization size, security models and end users.
The segments
depending on deployment are on cloud, on network and on appliance. Between
these, the best growth has been observed by the cloud based segment, as these
are considered to be the most convenient solutions that help avoid phishing,
malware and various forms of cyber-threats and attacks.
The key services
described in the report include professional services as well as managed
services.
The organization
size ranges discussed in the study are large enterprises and small & medium
enterprises or SMEs.
The primary
security models discussed in the study are positive security model, hybrid
security model as well as negative security model.
The web
application firewall market consists of end users like healthcare, insurance,
telecom, e-commerce, education, government, banking, and more.
Regional Study
The regional
study of the web application firewall industry covers Europe, North America,
APAC/Asia Pacific coupled with RoW/rest of the world.
North America’s
presence in the global market is noteworthy, given the huge pool of security
vendors present in Canada and the US/United States. North America is highly
advanced, in terms of adoption of cyber security technologies as well as the IT
infrastructure. The consistent surge in the number of security breaches along
with the rise in government regulations pertaining to IT security is resulting
in more desire for enhanced data security infrastructure among enterprises.
This can be favorable for the web application firewall market and can boost its
growth scope in the near future.
The growth
prospects of the APAC market are quite significant, thanks to the escalating
use of web applications for business operations across India and China. Web
application firewall is increasingly being used in verticals such as
agriculture, healthcare, IT & telecom, BFSI, energy, and more, mostly in
Australia and Japan, which necessitates the use of web app firewall software
and solutions to deal with the rising number of cyber threats and attacks.
Renowned Industry Vendors
Some of the most
renowned industry vendors profiled in the study include IBM Corporation (U.S.),
Applicure Technologies Ltd (Israel), ImpervaInc (U.S.), Juniper Networks, Inc
(U.S.), Fortinet, Inc. (U.S.), Barracuda Networks, Inc. (U.S.), Akamai
Technologies (U.S.), DBAPP Security Co., Ltd (China), NS Focus Information
Technology Co Ltd (China), Citrix Systems, Inc. (U.S.), F5 Networks, Inc
(U.S.), and more.
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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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