Web application firewall (WAF) is a type of firewall designed to enhance the security level for HTTP conversations or web conversations. It generally follows a set of rules to identify and block threats that may harm the system. It is also used to control and monitor network traffic on web-enabled applications. This firewall establishes a relatively secure barrier between the system and external environment. It provides web protection at the application layer of the open system interconnection model from many attacks types, such as XSS, SQL injection, cross-site scripting, DT, and RFI. WAF identifies and blocks attempts to exploit known web application vulnerabilities by shortening the window of exposure while patches are thoroughly tested and deployed. The global web application firewall market was valued at $426 million in 2016, and is projected to reach $1,425 million by 2023, growing at a CAGR of 19.2% from 2017 to 2023.
The web application firewall market is expected to experience significant growth during the forecast period, owing to technological innovation in product offerings, rise in adoption for cloud-based solutions, increase in application areas among end-use industries, and heavy venture capital investments in R&D activities to develop solutions with enhanced capabilities. Moreover, constant development of the e-commerce industry fuels the demand for web application firewall solutions. In addition, increase in adoption of cloud-based web application firewall system is expected to boost the market growth in the coming years. However, high initial costs of implementation and lack of awareness to implement the right solution for the specific needs among SMEs hinder the web application firewall market growth.
The global web application firewall market is segmented based on deployment, organization size, end-use industry, and geography. The deployment segment is bifurcated into cloud-based and on-premise. Based on organization size, it is divided into large enterprises and small & medium enterprises. On the basis of end-use industry, it is classified into aerospace & defense, BFSI, public sector, retail, healthcare, IT & telecom, energy & utilities, manufacturing, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the web application firewall market are Akamai Technologies, Inc., Barracuda Networks, Inc., Citrix Systems, Inc., F5 Networks, Inc., Imperva, Inc., Fortinet, Inc., Applicure Technologies Ltd., Qualys, Inc., Cloudflare, Inc., Radware Ltd, and others.
KEY BENEFITS FOR STAKEHOLDERS
Key Market Segments
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