NEW YORK, June 29, 2015 /PRNewswire/ -- Scope
The Asia-Pacific (APAC) Web Application Firewall (WAF) market grew 34.0% from 2013, reaching a total market size of $155.9 million in 2014. The strong growth momentum was driven by increasing reliance on Web applications to cater to the rise in eCommerce and Internet banking activities over the past few years. The popularity of these activities has increased the number of users, as well as attack frequency—which drives the adoption of WAF solutions to protect business information for both enterprises and users. As a result, market revenue is anticipated to grow at a CAGR of 25.6% from 2014 to 2021.The Asia-Pacific (APAC) Web Application Firewall (WAF) market grew 34.0% from 2013, reaching a total market size of $155.9 million in 2014. The strong growth momentum was driven by increasing reliance on Web applications to cater to the rise in eCommerce and Internet banking activities over the past few years. The popularity of these activities has increased the number of users, as well as attack frequency—which drives the adoption of WAF solutions to protect business information for both enterprises and users. As a result, market revenue is anticipated to grow at a CAGR of 25.6% from 2014 to 2021.
Executive Summary
•This research service covers the Web Application Firewall (WAF) solutions market in Asia-Pacific, which addresses the security technology used to protect Web application servers from threats targeting Web application layer.
•All revenue and forecast assumptions in this report are based on CY2014 (January 2014 – December 2014).
•The Asia-Pacific (APAC) Web application firewall (WAF) market continued to experience robust growth of xx% on a year-on-year (YoY) basis, reaching a total market size of $ xx million in 2014. The strong growth momentum was driven by increasing reliance on Web applications to cater to the rise in eCommerce and Internet banking activities over the past few years.
•The popularity of these activities has increased the number of users, as well as attack frequency—which drives the adoption of WAF solutions to protect business information for both enterprises and users. As a result, market revenue is anticipated to reach $ xxmillion in 2020, growing at a CAGR of xx% from 2014 to 2021.
•As the threat landscape has becoming more sophisticated, with attacks on the application layer increasing significantly, Web systems are more vulnerable than ever and are frequent targets of hackers to gain access to privileged information. This has caused enterprises to adopt dedicated WAF technology to protect their Web application servers where legacy network security solutions failed to do so.
•In APAC, enterprises in China and South Korea were the largest adopters of WAF solutions, contributing a combined share of xx% to the market in 2014. Strong growth momentum was also observed in Japan, Malaysia, Singapore, Indonesia, and India.
•Greater China, India and ASEAN continued to be the top xx countries, with growth rates of xx%, xx%, and xx%, respectively, as many businesses started to take action toward data security protection in the wake of more personal data protection and privacy acts as well as the Payment Card Industry–Data Security Standard (PCI-DSS).
•Regulatory compliance remained one of the key motivations for enterprises in APAC to adopt WAF technology, especially in the eCommerce and Internet banking segments. As such, WAF technology is expected to play an even more important role in stimulating IT security spending in APAC in the coming years.
•Stand-alone appliances are set to continue to stimulate market demand, with most of the adoption occurring in large enterprises, as these enterprises have more applications and greater concerns over data sensitivity, and possess larger IT budgets.
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