Web application firewall market is estimated to exhibit high growth potential during the forecast period owing to rapid adoption of web application firewall solutions and services. Major driving factor in the growth of web application firewall market is the growing popularity of cloud based applications. .Increasing advancements in technology is another major factor responsible for the growth of web application firewall market. Increasing popularity of artificial intelligence is one major factor driving the growth of web application firewall market.
Companies like Imperva, Akamai Technologies, Inc. and F5 Networks, Inc. are among the key players in the web application firewall market. These three are the top players occupying the major share of the web application market. Akamai Technologies is one of the leading companies and the company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. Web application firewall market is majorly being driven by increasing importance of web applications and growing penetration of internet of things.
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Major Key Players
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.
According to MRFR, 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.
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.
The regional analysis of web application firewall market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in web application firewall market in North America is attributed to technical advancements and increasing demand for cloud based applications in that region.
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