Market Research Report
Web Application Firewall Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Web Application Firewall Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: September 16, 2021
IMARC Services Private Limited
Content info: 144 Pages
Delivery time: 2-3 business days
The global web application firewall market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 19% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Web application firewall (WAF) refers to a hardware- or software-based solution used to monitor the network traffic on web-enabled applications. It provides protection by blocking data packets and establishing a secure barrier between the external environment and the computer. This prevents zero-day exploits, malware infections, impersonations and other unknown threats and cyber vulnerabilities. Some of the commonly used WAFs include network-, host- and cloud-based WAF. They filter an information source through whitelisting, blacklisting or a combination of both. They offer various advantages, such as agile protection against web attacks, improved visibility of the web traffic, ease of deployment and cost-effectiveness.
The increasing instances of cyberattacks and frauds over the internet represent as the key factors driving the growth of the market. WAFs are mainly used by organizations with online retailing and banking platforms to secure their operations and protect the sensitive data of consumers. Furthermore, widespread adoption of firewalls by the healthcare sector is providing a boost to the market. WAFs aid in preventing unauthorized access to critical healthcare networks and electronic patient records through Wi-Fi enabled equipment and other connected devices. Additionally, various technological advancements, such as the advent of virtual cloud resources, are acting as other growth-inducing factors. Cloud-based WAF solutions offer numerous services to organizations, such as bot detection and enforcement, access control, caching, threat intelligence, application program interface (API) and malware detection, that aid in monitoring the flow of data. Other factors, including improvements in the information technology (IT) infrastructure, along with extensive research and development (R&D) activities, are expected to drive the market further.