Market Size of Application Gateway Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Application Gateway Market Analysis
The application gateway is expected to witness a growth at a CAGR of 9.7% over the forecast period (2021-2026). The application gateway is a web traffic load balancer that allows the user to manage traffic to its web applications. The gateways make the routing decision based on attributes such as HTTP requests to optimize the results.
- The increasing demand for protected networks and multi-layered protection against growing different layered cyber attacks is the key factor driving the demand for application gateway solutions. According to the latest published Cisco SMB Cybersecurity report, more than 53% of mid-market companies across 26 countries experienced a cyber breach in 2019. Additionally, the greater emphasis on the BYOD business trend has put more pressure on these companies to deploy application gateway solutions.
- According to the Center for Strategic and International Studies (CSIS) and McAfee, cybercrimes, which include damage and destruction of data, stolen money, lost property, intellectual property theft, and other areas, currently cost the world almost USD 600 billion each year, or 0.8% of global GDP.
- Due to the ongoing COVID-19 outbreak, the countries across the world have implemented precautionary measures. While schools are being closed, and communities are asked to stay at home, and many organizations are finding a wat to enable their employees to work from their homes. This has resulted in a rise in the adoption of video communication platforms. In the past four months, the new domain registration on these video communication platforms, including Zoom, has rapidly increased. According to the Checkpoint Security, since January 2020, more than 1700 new domains were registered and 25% of which registered in the first week of March 2020. Due to this, cybercriminals also have started targeting these platforms.
