Web Application Firewall Market Trends

Growth Drivers

• Rising Web Application Attacks in Healthcare Sector - DDoS attacks targeted the healthcare sector in 2021 due to COVID-19, school reopening, and vaccine availability. Among the 849 incidents Verizon identified in the healthcare sector in 2021, 571 were confirmed data breaches. Healthcare organizations are especially vulnerable because they store large amounts of sensitive patient data that can be used for identity theft and fraud. Additionally, hackers can use ransomware to hold the data hostage. WAF can help protect against these threats by blocking malicious traffic and alerting security teams of suspicious activity.
• Enactment of Strict Government Regulations Governing Data Privacy - As organizations increasingly become aware of the risks posed by data breaches, they are increasingly turning to Web Application Firewalls to protect sensitive data. Increasing government regulations across the world will incentivize organizations to protect their data by using WAFs, such as PCI DSS (Payment Card Industry Data Security Standard), HIPAA (Health Insurance Portability and Accountability Act), GDPR (General Data Protection Regulation), and CCPA (California Consumer Privacy Act).
• Rising Penetration Of IoT And Advanced Technology - By 2023, there will be 16 billion Internet of Things (IoT) devices, which is 56% more than in 2020. In addition, 78 zettabytes (ZB) of data are expected to be generated by these devices by 2025. With the increasing number of connected devices, the need for web application firewalls to protect against cyber-attacks is also increasing. These firewalls use advanced technology such as artificial intelligence to detect malicious traffic and protect against cyber-attacks.

Challenges

• Complexity of the Technology - The complexity of the technology presents the biggest challenge for WAF users. It is difficult to develop a system that can detect and block malicious traffic without interfering with legitimate user interactions. The complexity of the technology requires a deep understanding of the underlying infrastructure and protocols that are used to communicate and exchange information over the web.
• Cost concerns related to the implementation of web application firewalls
• Shortage of qualified personnel who can manage and configure these systems effectively.