A new study reveals the immense growth that the web application firewall market is expected to experience over the next years until 2025. The findings come as businesses globally increasingly turn to cybersecurity solutions like a WAF in order to better protect their online operations.
Web Applications Become Increasingly Important
In today’s digital world, an ever-growing number of tasks are performed by web applications. Whether on-premises or hosted on cloud environments, companies of all sizes depend on web apps to carry out essential duties, including logging into the enterprise website or corporate email. This pervasiveness also means that web applications are one of the preferred methods for hackers to try to steal sensitive data and log-in credentials to launch further attacks – with the US claiming the lion’s share. According to research published on Statista, as of April 2018, over 30% of web application attack traffic came from the US, with a little less than 12% originating in the Netherlands, China claiming third spot at 7.1%, Brazil ranking fourth with 6.2% and Russia completing the top 5 at 4.4%.
Web Application Firewall Market to Grow at 18% Rate until 2025
In this landscape, a web application firewall is an essential tool in the battle against cybercrime. By inspecting and analyzing incoming traffic requests, a WAF effectively filters out malicious third parties trying to gain unauthorized access and can protect against all OWASP Top 10 threats, including cross-site scripting, SQL injection and remote file inclusion. And it seems that WAF adoption is gaining ground worldwide. As abnewswire.com reported on November 1st, 2018, the global WAF market is projected to rise to over $9 billion by the year 2025, significantly up from $2.39 billion in 2017. This marks an 18.1% CAGR between 2018 and 2025. The findings are included in the Web Application Firewall Market Comprehensive Study 2018-2025 by Data Bridge Market Research, which also examines the state of play and latest developments in the industry, like the launch of web 2.0 tech that allows for sophisticated web application solutions.
Businesses Embrace WAFs as They Move to the Cloud
The study also reports on a relatively fragmented market, with key players employing a variety of approaches to increase their appeal, including the development of new products, partnerships, expansions, and collaborations across the industry. Research on global and regional market shares across North and South America, Europe, and Asia Pacific are included, while the factors promoting, and impeding growth are also examined. Among the key takeaways of the report is that the booming e-commerce and retail industry and IoT integration drives the WAF market, along with a high demand for cloud-based resources to help regulate data flows. According to Forbes, 83% of all business workload will have migrated to cloud computing environments by 2020, with 41% running on public cloud, 20% hosted on private cloud platforms, and 22% opting for a hybrid cloud approach. And security is a top concern for most professionals – 66% of IT security experts identify security as their top concern when they move to adopt an enterprise cloud approach.
The landscape is evolving fast, and as businesses race to keep up with cybersecurity demands, a WAF has turned into an absolute necessity for most enterprises.
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