Web Application Firewall Market Report 2020 Recent Growth and its Factors, CAGR, Industry Size, Business Prospects and Forecast 2023

As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

Market Synopsis of the Global Web Application Firewall Market:The web application firewall market is comprised of some of the prominent key players such as Akamai Technologies (U.S.), Barracuda Networks, Inc. (U.S.), Citrix Systems, Inc. (U.S.), F5 Networks, Inc (U.S.), Imperva Inc (U.S.), Applicure Technologies Ltd (Israel), DBAPP Security Co., Ltd (China), Fortinet, Inc. (U.S.), IBM Corporation (U.S.), Juniper Networks, Inc (U.S.), NS Focus Information Technology Co Ltd (China) among others.

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The web application firewall is a type of online security firewall that filters the bad http data packets between client and web application. The web application firewall detects the threats and attacks by monitoring the HTTP request before they reach the web server providing a benefit to detect and block the malicious attacks disguised as the websites. The web application firewall market is projected to witnesses a significant growth during the forecasted period. Increased usage of internet and web related applications drives the global market growth.

The Web application firewall prevents the organizations from several vulnerabilities since the developing technological advancements are giving rise to various threats and attacks. Web application firewall detects and prevents cross site scripting (XSS) attacks, SQL injection attacks, buffer overflows and session hijacking. The web application firewall proves beneficial to the companies providing the products or services online. With the rising digitization and online stores, many organizations are moving their business model to online business- creating the weak points for attackers and hackers to target.

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The global web application firewall market is segmented by deployment, services, organization size, security models, end users, and region. 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 the leading segment owing to advanced technologies and solutions for prevention from malware, phishing, and other cyber-attacks and threats. Furthermore, the cloud based deployment is a cost-effective solution for better usability, scalability, and security protection options.  Adoption of cloud technology has increased across various organizations and verticals. The cloud based web application firewall offers number of capabilities such as access control, application programming interface, threat intelligence, and bot detection. Cloud based web application firewall are easy to deploy. Cloud based application firewall allow the companies to switch to cloud services, which is the feature of subscription based services.

On the basis of services the segmentation is divided under professional services and managed services. The segment by security models is divided into negative security model, positive security model, and hybrid security model. The web application firewall attracts end users such as banking, insurance, government, e -commerce, telecom, healthcare, education, and others.

The market for web application firewall is also segmented under the region by North America, Europe, Asia pacific and rest of the world. Out of these, North America is leading in terms of higher presence of security vendors. North America is the most advanced region for cyber security technology adoption and infrastructure due to the developed countries such as U.S. and Canada. Asia pacific region is significantly growing in the market due to the increasing adoption and practices of web and mobile applications in India and China for business operations.The global web application firewall market is expected to reach approximately USD 5.5 billion by the end of 2023 at a CAGR of 15 % during the forecasted period 2017-2023.

Segments

For the purpose of this study, Market Research Future has segmented the market of the global web application firewall market into deployment, services, organization size, security model, industry vertical, and region.

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Deployment

On appliance

On cloud

On network

Services

Professional

Managed

Organization Size

Large

SME’s

Security Model

Negative security model

Positive security model

Hybrid security model

Industry Vertical

Banking

Insurance

Government

E –Commerce

Telecom

Healthcare

Education

Region

North America

Europe

Asia pacific

Rest of the world.

Intended Audience

Storage providers

Network providers

Banking Institutions

Insurance providers

Security solutions providers

Research firms

Software investors

Software Developers

Software Testers

IT enablers

Database solutions

Cloud providers

Insurance companies

Telecommunication companies

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