Application Gateway Market Worth $2.5 Billion by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Aug. 15, 2019 /PRNewswire/ -- According to a new market research report "Application Gateway Market by Component (Solution and Services), Services (Consulting, Integration and Deployment), Organization Size (Large Enterprises and SMES), Vertical (BFSI and IT and Telecommunication), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Application Gateway Market size is expected to grow from USD 1.6 billion in 2019 to USD 2.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period.

Organizations are adopting application gateway solution for application layer security of their network. The evolution has been marked by the development of data security solutions and the advantages associated with them for all potential users. Application gateway vendors are trying to make things simple so that organizations can secure their critical data and also protect the organization from potential attacks.

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Integration and deployment services to account for the second-highest market share during the forecast period

Integration and deployment services play an important role in helping enterprises run their software applications smoothly on the network architecture. Integration is the process of linking systems within an organization to simplify and automate the business processes. It is a comprehensive and robust security framework, and the most important step toward protecting an entire network infrastructure from advanced cyberattacks. The security system architecture are designed, keeping in mind the standards and compliances set by government bodies and organizations. System integration is an important service in network security for lowering risks, reducing complexities, and increasing the Return on Investment (ROI). They are customized, easily applicable, and assure threat prevention to the maximum extent.

Large enterprises segment to account for a higher market share during the forecast period

Large enterprises are the early adopters of application gateway solutions, as they use a large number of Internet of Things (IoT) and web applications, which are susceptible to cyberattacks. As these enterprises are large and have different types of IT infrastructure, they are faced with the difficult task of effectively managing the security of several applications across the enterprise. Sensitive business information and documents are communicated regularly via emails and other networks among employees, clients, and vendors, due to which the network security is at risk from cyberattacks. Large enterprises are targeted by cyberattackers due to their high employee count. Therefore, business communications over the network of large enterprises are more susceptible to cyberattacks. These enterprises find it difficult to manage the enterprise network security due to their complex infrastructure.

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Europe to account for the second-highest market share during the forecast period

Europe constitutes of many developed and developing countries, including the UK, Ireland, Sweden, Germany, France, and Italy, which have a wide clientele for security vendors. Countries such as the UK and Germany, have always been on the top of the target list of attackers. The region is the home for key application gateway solution providers, such as SAP and Orange. European Association aims toward safeguarding network and information systems in the European Union to keep the online economy running. In 2018, the European Commission announced the creation of the first-ever Digital Europe Program and also invested EUR 9.2 billion in advanced technologies during 2021–2027. The program aims to invest in 4 key areas, namely, high-performance computing, Artificial Intelligence (AI), cybersecurity and trust, and digital skills, and ensures a wide use of digital technologies across the economy and society.

Major vendors in the global Application Gateway Market include Microsoft (US), SAP (Germany), Orange (France), F5 Networks (US), Palo Alto Networks (US), Forcepoint (US), Zscaler (US), Citrix (US), Akamai (US), Aculab (US), Imperva (US), Barracuda Networks (US), Kemp Technologies (US), Snapt (US), and Avi Networks (US).

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