Key Trends That Companies Are Adopting In The Web






LONDON, March 20, 2023 (GLOBE NEWSWIRE) — The Business Research Company’s research on the web application firewall market highlights technological advancement is a key trend in the web application firewall market. Cloud-based website firewalls and advanced WAF technology that employs behavioral analytics, proactive bot defense, and application-layer data encryption are being adopted by major players in the operation of web application firewalls. For instance, in May 2022, StackPath, a US-based edge computing platform provider, launched StackPath Web Application Firewall (SP//WAF) by subscription. It offers monthly WAF usage and increased access to new and extra features like specialized sanction screens, sophisticated rule extensions, professional services, and technical support. The powerful threat-detection capabilities that set SP/WAF are available to businesses of all sizes in a package that cost-effectively satisfies their specific security, use, and operations-management requirements.

The global web application firewall market size is expected to grow from $4.25 billion in 2022 to $5.07 billion in 2023 at a compound annual growth rate (CAGR) of 19.3%. The web application firewall market size is then expected to reach $9.81 billion in 2027 at a CAGR of 17.9%.

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The rising number of cyberattacks and data breaches is expected to drive the web application firewall market going forward. A cyberattack or data breach is a malicious and intentional attempt by an individual or group to breach another person’s or organization’s information system. It is used to gain unauthorized access to a computer, corrupt, disrupt, disable, and control it. A web application firewall protects and prevents cyberattacks on the web application while also keeping data safe. For instance, according to the cybersecurity threat landscape report by Positive Technologies, a Russia-based cybersecurity company, the number of cyberattacks increased by 17% in Q1 2021 as compared to Q1 2020, and it increased by 1.2% as compared to Q4 2020. Furthermore, according to the 2022 cost of a data breach report published by IBM (International Business Machines Corporation), the average cost of a data breach increased 2.6%, from USD 4.24 million in 2021 to USD 4.35 million in 2022. Therefore, the increase in the number of cyberattacks and data breaches is significantly contributing to the growth of the web application firewall market.

Asia-Pacific was the largest region in the web application firewall market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the web application firewall report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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The global web application firewall market is segmented by component into solutions, services; by deployment model into on-premise, cloud; by organization size into large enterprises, small and medium sized enterprises; by vertical or end user into banking, financial services and insurance, retail, IT and telecommunications, government and defense, healthcare, energy and utilities, education, other verticals.

Major players in the web application firewall market are Imperva, Akamai Technologies, Barracuda Networks, Citrix System, Cloudflare, F5 Networks, Fortinet, Radware, Qualys Inc., Ergon Informatik, Amazon Web Services, Nsfocus Information Technology Co. Ltd., Dell SonicWall, Rohde & Schwarz, and Microsoft Corporation.

Web Application Firewall Global Market Report 2023 –Market Size, Trends, And Global Forecast 2023-2032 by The Business Research Company provides web application firewall market forecast insights and web application firewall market analysis on the web application firewall market size, web application firewall market growth, web application firewall market segments, web application firewall market trends, drivers and restraints, web application firewall industry major competitors’ market positioning, revenues and web application firewall market share.

The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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