Market Highlights
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 is projected to witness a significant growth during the forecasted period. The market is majorly driven by the increased usage of internet and web related applications. The web application firewall prevents the organizations from several vulnerabilities as the developing technological advancements is giving rise to the increased threats and attacks. On the basis of deployment, the market is segmented into on appliance, on cloud, and on network. Among these, the cloud based web application firewall is leading the segment because of the solutions and advanced technologies of prevention from malware, phishing, and other cyber-attacks and threats. Also, cloud based deployment is a cost-effective solution for better usability, scalability, and security protection options. The adoption of cloud technology across various organizations and verticals has increased, the cloud based web application firewall offers capabilities such as access control, application programming interface, threat intelligence, and bot detection. Cloud based web application firewall are easy to deploy. The cloud based application firewall lets the companies switch to the cloud services, which is the feature of subscription based services.
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Segmentation:
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.
Regional Outlook
The market for web application firewall is segmented based on the region: North America, Europe, Asia pacific, and rest of the world. North America is leading region in terms of security vendors’ concentration. North America is the most advanced region for cyber security technology adoption and infrastructure due to the countries like U.S. and Canada.
Key Players
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.
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Global 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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