According to the latest report by IMARC Group, titled "Web Application Firewall Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global web application firewall market grew at a CAGR of around 20% during 2014-2019. A web application firewall (WAF) is an application firewall that is deployed via a proxy and used for monitoring the network traffic on web-enabled applications. These hardware- or software-based solutions are used for filtering and blocking HTTP traffic to and from a web application in an attempt to prevent attacks that may include file inclusion, cross-site forgery, SQL injection, cross-site scripting and improper system configuration. These firewalls assist in establishing a secure barrier between the computer and the external environment. They are also essential in filtering an information source through the process of whitelisting and/or blacklisting. This helps in providing agile protection to the applications against web attacks and enhanced visibility of web traffic within affordable costs.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Web Application Firewall Market Trends:
The market is primarily driven by the rising occurrence of cyberattacks and internet frauds on the global level. As a result, WAF technologies are widely deployed by numerous organizations to prevent the instances of such malpractices, including phishing, malware and security threats. The market is further driven by the increasing adoption of cloud-based computing technologies across various enterprises, coupled with the rising number of initiatives undertaken by the governments of multiple countries to spread awareness regarding the importance of cybersecurity. The cloud-based variants of the WAF solutions also are widely being adopted as they secure crucial data and the overall network, even when the user is offline, which is acting as another major growth-inducing factor. There has been a significant increase in the utilization of WAF products in the healthcare sector. These firewalls are extensively used to avoid unauthorized access to electronic patient records and crucial healthcare networks, which is contributing to the market growth. The market is further driven by the growing utilization of virtual cloud resources, considerable improvements in the information technology (IT) infrastructure and the extensive research and development (R&D) activities conducted by numerous players. On account of the aforementioned factors, the market is anticipated to witness strong growth during 2020-2025.
- On the basis of the deployment, the market has been bifurcated into cloud-based and on-premises.
- Based on the organization size, the market has been divided into large enterprises, and small and medium enterprises.
- On the basis of the service, the market has been classified into professional and managed services.
- Based on the end use industry, the market has been categorized into government and defense, BFSI, retail, healthcare, IT and telecom, energy and utilities, manufacturing and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Akamai Technologies, Inc., Applicure Technology Ltd., Barracuda Networks, Inc., Citrix Systems Inc., Cloudflare, Inc., Ergon Informatik AG, F5 Networks, Inc., Fortinet, Inc., Imperva, Inc., NSFOCUS Inc., Penta Security Systems Inc. (Finleap), Qualys, Inc., and Radware Ltd.
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