Escalating Cyber Threats Propel Asia-Pacific Enterprises to Adopt Web Application Firewalls, Finds Frost & Sullivan
-- Sophistication of attacks and growing number of web applications fuel demand
SINGAPORE, Jan. 22, 2013 /PRNewswire/ -- The proliferation of mobile devices has facilitated the migration of business processes to the Internet, making enterprises wary of the threats and risks in cyberspace. Enterprises in Asia Pacific, therefore, are turning to Web application firewalls (WAF) to meet their security needs. The increasing sophistication of cyber threats targeting Web applications has further compelled businesses in the region to adopt WAF solutions.
New analysis from Frost & Sullivan (http://www.networksecurity.frost.com), Asia-Pacific Web Application Firewall Market CY 2011 , finds that the market earned revenues of over $78.7 million in 2011 and estimates this to reach $528.1 million in 2018. The market also registered a robust growth of 22.6 percent growth on a year-on-year basis in 2011.
"With cyber attacks such as SQL injection, cross site scripting, and distributed denial of service (DDoS) moving up the value chain, traditional security technologies have become inadequate, " said Frost & Sullivan Research Analyst Misun Yoon. "As a result, enterprises are keen to increase protection at the application level, boosting demand for security in the form of a WAF."
In addition, several industrial regulations in the region encourage the adoption of WAF in various verticals, including banking, financial services, and insurance (BFSI), as well as in e-commerce. Local regulations in Japan and South Korea mandate compliance for the protection of personal information, boosting market growth.
However, as more small and medium businesses (SMB) migrate to the Web, budget constraints force them to turn to third party service providers to overcome the lack of security expertise in their organizations. This limits uptake of WAF to larger enterprises, restraining market revenues.
The dynamic nature of threats from the Web makes the management of WAF and the update of WAF policy highly complex. The mismanagement of WAF could result in Web services shutting down, potentially disrupting business operations.
There is also a growing need for WAF solutions to communicate intelligently and effectively with other security technologies such as intrusion prevention systems (IPS).
"WAF vendors in Asia Pacific need to focus on developing efficient solutions with user-friendly interfaces," concluded Yoon. "With WAF-as-a-Service gaining ground, vendors must work closely with service providers to address the needs of enterprises, particularly SMBs."
If you are interested in more information on this research, please send an email to Jessie Loh, Corporate Communications, at jessie.loh@frost.com , with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
Asia-Pacific Web Application Firewall Market CY 2011 is part of the Network Security Technologies Growth Partnership Services program, which also includes research in the following markets: APAC Network Security Market, APAC Managed Security Services Market, and APAC Application Delivery Controller Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61-(02)-8247-8927
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E: djeremiah@frost.com
Jessie Loh
Corporate Communications – Asia Pacific
P: +65-6890-0942
F: +65-6890-0988
E: jessie.loh@frost.com
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