How Web Application Firewall Market Revenue Expected to Swell at CAGR of 19.2% by 2026 ?
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. The aerospace & defense segment is anticipated to grow at the highest rate during the forecast period.
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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.
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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,
o Akamai Technologies Inc.
o Barracuda Networks Inc.
o Citrix Systems Inc.
o F5 Networks Inc.
o Imperva Inc.
o Fortinet Inc.
o Applicure Technologies Ltd.
o Qualys Inc.
o Cloudflare Inc.
o 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.
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KEY QUESTIONS ANSWERED IN WEB APPLICATION FIREWALL MARKET RESEARCH STUDY:
o What is the market growth rate of web application firewall market from 2017-2023?
o What will be the global market size of the market from 2017 to 2023?
o Who are the leading global players in the web application firewall market?
o What are the current trends and predicted trends?
o What are the challenges faced in the web application firewall market?
o Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
o Which will be the anticipated growth rates for your own web application firewall economy altogether and also for every segment inside?
o Which will be the web application firewall application and types and forecast accompanied closely by producers?
o What are the conclusions of the web application firewall market report?
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