The growing need for online security firewall that filters bad HTTP data packets between client and web application is impelling the adoption of web application firewall. Market Research Future (MRFR), identified that the rise in the need for firewall analysis across different sectors as the major cause for the web application firewall market growth. The report on the global market of web application firewall reveals that the market is expected to thrive at a CAGR of about 15% during the forecast period of 2016 to 2023. MRFR states that the Web Application Firewall market is poised to touch a valuation of nearly USD 5.5 billion by 2023.
The web application firewall market size is expected to increase owing to the increase in application of Web Application Firewall across cash-rich sectors, such as automotive, BFSI, e-commerce, and education. The ability of web application to detect and block malwares is encouraging companies to adopt best web application firewall solutions, which is expected to promote the growth of the Web Application Firewall market. The increase in the requirement for Web Application Firewall is surging their need for production. New entrants and the expansion of product portfolio of the existing developers are also observed to positively impact the web application firewall market. Web Application Firewall can detect and prevent SQL injection attacks, cross site scripting (XSS) attacks, session hijacking, and buffer overflows easily. This aids enterprises to safeguard their data from leakage and prevent potential attacks. This is expected to benefit the web application firewall market.
The worldwide market of web application firewall is studied by security models, deployment, organization size, services, and end users.
By deployment, the market is segmented into on cloud, on appliance, and on network. The cloud-based web application firewall is expected to gain high traction due to the increase the adoption of advanced technologies to detect and resolve issues arising from phishing and malware. The increase in cases of cyberattacks is also encouraging the adoption of cloud-based deployment. In addition, benefits, such as cost-effectiveness, better usability, security protection options, and scalability of cloud-based technology are expected to impel the growth of the Web Application Firewall market. By services, the market is classified into managed services and professional services. By security models, the market is segmented into positive security model, negative security model, and hybrid security model. By end-user, the Web Application Firewall market is classified into banking, government, insurance, telecom, e -commerce, education, healthcare, and others.
The WAF market share in North America is expected to secure the highest share of the global market due to the presence of a large number of security vendors. The growing cases of security breaches and the need for effective data security infrastructure in companies in the US are causes that are expected to propel the growth of the Web Application Firewall market in North America. The web application firewall market share in Asia Pacific is expected to increase exhibiting a high CAGR across the assessment years. The existence of untapped demands and rise in the need for effective security solutions are likely to boost the APAC web application firewall market. In Europe, the presence of numerous WEB APPLICATION FIREWALL providers are expected to impel the market.
MRFR listed a few prominent key players that are operating in the web application firewall market. They are; Barracuda Networks, Inc. (U.S.), Akamai Technologies (U.S.), F5 Networks, Inc (U.S.), Citrix Systems, Inc. (U.S.), Applicure Technologies Ltd (Israel), Imperva Inc (U.S.), Fortinet, Inc. (U.S.), DBAPP Security Co., Ltd (China), Juniper Networks, Inc (U.S.), IBM Corporation (U.S.), NS Focus Information Technology Co Ltd (China), and others.