In its report - Asia-Pacific Web Application Firewall (WAF) Market 2013 – market analysis firm Frost & Sullivan says the overall market growth rate is expected to peak in the next two years as the proliferation of devices connected through various channels makes organisations easier targets for cyber attackers.
According to Frost & Sullivan, the Asia Pacific WAF market earned revenues of US$115.6 million in 2013 and estimates this to reach US$666.2 million in 2020 at a compound annual growth rate of 28.4%.
Frost & Sullivan says, however, that complexities in terms of WAF management may hold back some enterprises from investing in these solutions, giving an opportunity for managed security service providers to provide WAF-as-a-service, eating into the share of traditional WAF vendors.
Nevertheless, the analyst firm says that increased competition in this highly fragmented domain will drive the market forward, as more affordable and flexible products are made available especially for small and medium businesses, and with many traditional security vendors now offering WAF solutions as add-ons to their existing security platforms.
"To avoid falling behind the competitive curve, vendors will design multi-faceted WAF solutions with capabilities extended to database security, distributed denial-of-service protection, anti-scrapping, and authentication," Huang says.
"This integrated approach will lead to comprehensive, yet simple-to-manage, multi-layered security that can widen the consumer base in the Asia-Pacific WAF market."