A firewall prevents unauthorized access to a network based on a defined set of security rules. For more than two decades firewalls have been used to provide network security. Firewalls can be hardware-based or software-based or both.

Firewall as a Service (FWaaS) is a cloud-based service in which an organization’s firewall is centralized to monitor traffic coming from multiple locations within the organization, from mobile users and the internet. Without using FWaaS, employees in a company’s IT department may spend time maintaining multiple firewalls in multiple locations. Besides responding to cyber threats, this includes updating hardware and software to thwart new threats or to comply with new government regulations and verifying that security rules are consistent throughout the network. FWaaS creates a centralized point of access for network traffic with the ability to automatically scale the service depending upon need, adding more network locations or adding bandwidth capabilities. The provider of these services is responsible for maintaining the firewall infrastructure. FWaaS providers have dedicated security teams that monitor systems, provide necessary updates and respond to network security threats.

Today’s market size shows the amount spent globally on FWaaS in 2017 and 2022. Data for 2022 are projected. The market is expected to grow at a compound annual growth rate of 24.9% from 2017 to 2022. An increasing need for more sophisticated network security, the ability to rapidly upgrade firewall protocols, and reduced operating costs are some reasons the demand for FWaaS is expected to increase over the next 5 years. Major vendors of FWaaS are Barracuda Networks, Cato Networks, Check Point Software Technologies, Cisco Systems, Forcepoint, Fortinet, Juniper Networks, Palo Alto Networks, WatchGuard, and Zscaler.

Geographic reference: World
Year: 2017 and 2022
Market size: $0.56 billion and $1.70 billion respectively
Sources: “Firewall as a Service Market Worth 1.70 Billion USD by 2022,” Cision PR Newswire, March 2, 2018 available online here; Dave Greenfield, “What is Firewall as a Service and Why Do You Need It?” Cato Networks, April 16, 2018 available online here; Alan Zeichick, “Understanding Cloud-Based Firewalls,” enterprise.nxt, February 20, 2017 available online here; “What is a Firewall?” Cisco, available online here.
Original source: MarketsandMarkets
Image source: wynpnt, “cloud-computing-network-internet-2001090,” Pixabay, January 23, 2017 available online here.

A web application is a computer program that uses an internet browser as a client interface. Some examples of web applications are email clients such as Gmail; productivity applications such as G Suite and Microsoft 365, which include word processors and spreadsheets; and multi-player online gaming applications. Online banking and investing websites that allow users to access their accounts and perform transactions are also examples of web applications. As these applications have gotten more complex and the storage of sensitive data has gotten more prevalent, the need for sophisticated security has increased.

One type of security measure is a firewall. A firewall prevents unauthorized access to a network based on a defined set of security rules. For more than two decades firewalls have been used to provide network security. Some types of firewalls include packet-filtering, state-inspection, unified threat management, and next-generation. Early firewalls examined the packets that came through the network, but they couldn’t distinguish between valid application layer protocol requests, data, and malicious code disguised as valid traffic or data. The need for application layer protection became necessary as attacks against web servers became more frequent. Benefits of application layer firewall protection include being able to block specific content or websites, control the execution of files and control the handling of data by specific applications.

Today’s market size shows the amount spent on web application firewalls globally in 2017 and projected for 2023. Governmental organizations and e-commerce companies are the top two targets of cyber attacks. The organizations themselves are not the only ones vulnerable to attack. The malware that infects the web application can infect the users’ computers also.

Geographic reference: World
Year: 2017 and 2023
Market size: $2.37 billion and $5.92 billion respectively
Sources: “Global Web Application Firewall Market 2018-2023 – Segmented by Component, Organization Size, Industry Vertical, and Region – ResearchAndMarkets.com,” Business Wire Press Release, May 14, 2018 available online here; Margaret Rouse, Casey Clark and Michael Cobb, “Firewall,” TechTarget, February 2018 available online here; “What is a Firewall?” available online here; Daniel Nations, “What Exactly Is a Web Application?” Lifewire, February 22, 2018, updated by Elise Moreau available online here.
Image source: JanBaby, “security-secure-locked-technology-2168233,” Pixabay, March 23, 2017 available online here.

According to the 2018 Data Breach Investigations Report, in 2017 there were 53,308 cybersecurity incidents worldwide with more than 2,200 data breaches. As a percentage of all malware incidents, ransomware incidents have risen dramatically since 2013. More than 40% of malware incidents involved ransomware in 2017. Ransomware is a type of malicious software that prevents a user from accessing their computer or mobile device, either by disabling the operating system or encrypting files, until a ransom is paid. The ransom usually totals a few hundred dollars per infected computer. Ransomware can infect servers as well as individual devices. People clicking on an infected email attachment, visiting infected websites or clicking on ads that contain malware are some ways that computers can get infected. Ransomware targets vulnerabilities in software. Updates to software attempt to remove these vulnerabilities so that cybercriminals can’t exploit them.

According to the FBI, ransomware infects more than 100,000 computers worldwide per day and payments to cybercriminals total nearly $1 billion per year. However, the cost of a ransomware attack goes beyond the payment to the attacker. Even after paying the ransom about 20% of companies do not get their data back. The costs associated with business downtime, recovery of files and increased spending on cybersecurity are many times greater. According to Kaspersky Lab, in 2016 the average ransom demand was $300, but the average cost to a small to medium-sized company due to a ransomware attack was $99,000. Globally, the cost of cybercrime is expected to reach $6 trillion by 2021, up from $3 trillion in 2015. Today’s market size shows the minimum amount of ransom paid to cybercriminals in Bitcoin from 2013 to mid-2017 based on analysis of 35 ransomware families. As of May 2018, there were more than 500 known families of ransomware that demand Bitcoin as payment.

Geographic reference: World
Year: 2013 to mid-2017
Market size: $12.8 million
Sources: Alex Lielacher, “Size of Bitcoin Ransomware Market ‘Overhyped’ in the Media,” Brave NewCoin, April 23, 2018 available online here; “Deputy Attorney General Rod J. Rosenstein Delivers Remarks at the Cambridge Cyber Summit,” The United States Department of Justice, October 4, 2017, updated October 6, 2017 available online here; Masara Paquet-Clouston, et. al., Ransomware Payments in the Bitcoin Ecosystem, May 2018 available online here; 2018 Data Breach Investigations Report, 11th Edition, Verizon, April 2018 available online here; “The Cost of Cryptomalware: SMBs at Gunpoint,” Kaspersky Lab Daily, September 7, 2016 avalable online here; Tamara Chuang, “Inside the Profitable Underworld of Ransomware,” Government Technology, March 5, 2018 available online here.
Image source: TheDigitalArtist, “ransomware-cyber-crime-malware-2320941,” Pixabay, May 18, 2017 available online here.

Globally the number of cyber security incidents increased 1,637% from 3.4 million incidents in 2009 to more than 59 million incidents in 2015. In the United States the number of data breaches alone increased from 446 in 2007 to 1,579 in 2017. According to Steve Langan, chief executive at Hiscox Insurance, cybercrime cost the global economy more than $450 billion dollars in 2016.

As a result of the growing threats from viruses, worms, Denial of Service attacks and other malware the need for increasingly sophisticated cyber security solutions grows year by year. In 2017 the business sector was the most vulnerable to data breaches in the United States followed by the medical/healthcare sector, accounting for 55% and 23.7% of all data breaches respectively.

Today’s market size shows the amount industries around the world spent on database security in 2017 and the amount they are projected to spend in 2022. The market is expected to grow at a compounded annual growth rate of 18.9% due to the increase in the amount of data that needs protecting, the increase in malware threats, and the increase in regulations protecting the privacy and security of customers’ health and financial data.

Geographic reference: World
Year: 2017 and 2022
Market size: $2.95 billion and $7.01 billion respectively
Sources: “Database Security Market by Software, Service, Business Function, Deployment, Organization Size, and Vertical Global Forecast to 2022 – Research and Markets,” Business Wire Press Release, January 2, 2018 available online here; “Global Number of Cyber Security Incidents From 2009 to 2015 (in Millions),” Statista, October 2015 available online here; Luke Graham, “Cybercrime Costs the Global Economy $450 Billion: CEO,” CNBC, February 7, 2017 available online here; “Data Breaches: The Insanity Continues,” Identity Theft Resource Center, 2015 available online here; “2017 Annual Data Breach Year-End Review: Executive Summary,” Identity Theft Resource Center, 2017 available online here.
Image source: Geralt, “Binary-hands-keyboard-tap-enter-2372131,” Pixabay, June 2017 available online here.