Web Application Firewall (WAF) Market CAGR of 19.2% 2021

Rate this post

Web Application Firewall (WAF) is one kind of firewall intended to improve the security of HTTP web-based conversations. It typically uses a set of rules to stop threats that could harm the system. It can also be used to manage and monitor traffic in web-based applications.

The firewall creates a secure boundary between your system and its external environment. It protects web applications at an application level of open-system interconnection models. It protects against numerous attacks like XSS, SQL injection, cross-site scripting DT, and RFI. WAF can detect and block attempts to exploit vulnerabilities in web applications by reducing the time of vulnerability, as patches are rigorously tested and implemented.

Also Read- Best Firewall Apps for Android

The worldwide market for web application firewalls was estimated at $426 million in 2016 and is expected to grow to $1,425 million in 2023. This is expected to grow at a CAGR of 19.2 percent from 2017 to 2023.

Web Application Firewall (WAF) Market CAGR of 19.2% 2021

The market for web application firewalls is expected to see significant growth over the forecast period due to the advancement of technology of product options, an increase in the use of cloud-based solutions as well as the growth of applications in the end-user industries, and significant venture capital investment in R&D efforts to create solutions with more excellent capabilities. Additionally, the constant growth of the e-commerce market drives the demand for web-based applications firewalls.

Additionally, the increase in the adoption of cloud-based Web application firewall systems is anticipated to increase the market’s growth over the next few years. However, the high cost for implementation and insufficient knowledge to choose the best solution for specific requirements of SMEs limit the market for web application firewall expansion.
The global market for web-based application firewalls is classified based on the size of the organization, deployment, the industry of end-users, and geography. Furthermore, this segment of deployment is divided between cloud and off-premise.

Also Read- Best Open Source Firewalls for Linux

Based on the organization’s size and size, it is split into large, small, and medium-sized enterprises. Based on the type of industry, it’s classified into aerospace & defense BFSI public sector, healthcare, retail IT & telecom, energy and manufacturing, utilities and many more. In terms of geography, it’s examined over North America, Europe, Asia-Pacific and LAMEA.

The leading players in the firewall for web applications market include 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 many more.

Source- TaiwanNews