LONDON, March 20, 2023 (GLOBE NEWSWIRE) — The Business Research Company's research on the web application firewall market highlights technological advancement is a key trend in the web application firewall market. Cloud-based website firewalls and advanced WAF technology that employs behavioral analytics, proactive bot defense, and application-layer data encryption are being adopted by major players in the operation of web application firewalls. For instance, in May 2022, StackPath, a US-based edge computing platform provider, launched StackPath Web Application Firewall (SP//WAF) by subscription. It offers monthly WAF usage and increased access to new and extra features like specialized sanction screens, sophisticated rule extensions, professional services, and technical support. The powerful threat-detection capabilities that set SP/WAF are available to businesses of all sizes in a package that cost-effectively satisfies their specific security, use, and operations-management requirements.
The global web application firewall market size is expected to grow from $4.25 billion in 2022 to $5.07 billion in 2023 at a compound annual growth rate (CAGR) of 19.3%. The web application firewall market size is then expected to reach $9.81 billion in 2027 at a CAGR of 17.9%.
Learn More In-Depth On The Web Application Firewall Market
The rising number of cyberattacks and data breaches is expected to drive the web application firewall market going forward. A cyberattack or data breach is a malicious and intentional attempt by an individual or group to breach another person's or organization's information system. It is used to gain unauthorized access to a computer, corrupt, disrupt, disable, and control it. A web application firewall protects and prevents cyberattacks on the web application while also keeping data safe. For instance, according to the cybersecurity threat landscape report by Positive Technologies, a Russia-based cybersecurity company, the number of cyberattacks increased by 17% in …
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