Tuesday, 30 November 2021 09:26 GMT

Web Application Firewall Market Reach Record of $1,425 Million by 2023, Says Report


(MENAFN- EIN Presswire)

Web Application Firewall Market

Web application firewall (WAF) is a hardware or software solution developed to control and monitor network traffic on web-enabled applications.

PORTLAND, OR, UNITED STATES, November 25, 2021 /EINPresswire.com / -- North America generated the highest revenue in 2016 due to adequate infrastructural development for the adoption of web application firewall. The Asia-Pacific web application firewall market is expected to grow at the highest rate during the forecast period, owing to the remarkable economic growth in Southeast Asia, India, & other economies and growth in trend of cloud-based solutions.

According to a new report published by Allied Market Research, titled, 'Web Application Firewall Market by Deployment, Organization Size, and End-Use Industry - Global Opportunity Analysis and Industry Forecast, 2016-2023,' the global web application firewall market was valued at $426 million in 2016, and is projected to reach $1,425 million by 2023, growing at a CAGR of 19.2% from 2017 to 2023.

Download Sample Report (Get Full Insights in PDF – 162 Pages) at

The BFSI business segment contributed the highest share in 2016. This segment accounted for $93 million in 2016, and is projected to grow at the CAGR of 17.6% during the forecast period. However, the web application firewall market for aerospace & defense segment is projected to grow at the highest rate of 21.9%. The cloud segment accounted for the highest revenue share in 2016, while the on-premise segment is anticipated to grow at the highest rate of 21.2%.

Technological innovation in product offerings, rise in adoption for cloud-based solutions, increase in application areas among end-use industries, and heavy venture capital investments in R&D activities to develop solutions with enhanced capabilities drive the market. In addition, government organizations and companies enhance their data security infrastructure due to rise in number of security breaches and government regulations related to IT security. This in turn boosts the market growth.

For Purchase Enquiry:

Key Findings of the Web Application Firewall Market:
•The large enterprises segment accounted for the highest share of the global web application firewall industry in 2016, growing at a CAGR of 19.9% from 2017 to 2023.
•The BFSI sector of the web application firewall market generated the highest revenue share in 2016, and is projected to grow at a rate of 17.6%.
•The North America web application firewall market generated the highest share, valued at $181 million, in terms of revenue in 2016.
•The web application firewall market for aerospace & defense segment is expected to witness the highest growth rate during the forecast period.

The report features a competitive scenario of the global web application firewall industry and provides a comprehensive analysis of key growth strategies adopted by the major players. The key players profiled in the study are Akamai Technologies Inc., Barracuda Networks Inc., Citrix Systems Inc., F5 Networks Inc., Imperva Inc., Fortinet Inc., Applicure Technologies Ltd., Qualys Inc., Cloudflare Inc., and Radware Ltd. These players adopt competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the web application firewall market.

Similar Reports –

1.Web Service Cloud Market

2.Web Hosting Service Market

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

David Correa
Allied Analytics LLP
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

MENAFN25112021003118003196ID1103252561


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.