For enterprises, web security is critical to preventing costly cyberattacks—such as malware, phishing, distributed denial-of-service (DDoS) attacks and more—that can disrupt core business practices and cause catastrophic reputational damage.
The number of ways cybercriminals can gain unauthorized access to an organization’s data and resources—vulnerabilities known as “attack surfaces”—has increased exponentially. When applied effectively, web security safeguards the web applications businesses depend on from a wide range of malicious activities. These activities range from simple malware and phishing attempts that result in data theft to complex cyberattacks that target millions of users and can shut down business operations for days.
Web security solutions typically include a combination of technologies, including firewalls, antivirus software and application programming interface (API) security tools. They also employ more advanced approaches that use newer technologies like cloud computing, artificial intelligence (AI) and the Internet of Things (IoT) to protect against a wider range of malicious activities.
With cyberattacks increasing in number and complexity every year, the demand for web security solutions is increasing rapidly. According to a recent report, the global market is growing at a compound annual growth rate (CAGR) of almost 13% and will reach USD 500 billion by 2030.1
The application security market alone, focusing on web-based software applications security solutions, is growing at a CAGR of a little over 14% and will likely reach USD 25 billion by 2030.2