Application Gateway Market to Rise at an Impressive CAGR of 9.5% | Demand, Top Players & Future Analysis by 2030
Lack of mandatory regulations for information security and lack of technical expertise hamper the market growth.
PORTLAND, PORTLAND, OR, UNITED STATES, October 25, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global application gateway market was estimated at $1.75 billion in 2020 and is expected to hit $4.24 billion by 2030, registering a CAGR of 9.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
An application gateway, often known as an application level gateway (ALG), is a network security firewall proxy. It filters incoming node traffic according to predefined criteria, ensuring that only network application data is screened. File Transfer Protocol (FTP), Telnet, Real Time Streaming Protocol (RTSP), and BitTorrent are examples of network applications.
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Furthermore, an application gateway allows for secure network system connectivity at a high level. When a client seeks access to server resources such as files, Web pages, or databases, for example, the client first connects to the proxy server, which then connects to the primary server. Furthermore, the key factor that drives the growth of the application gateway market includes growth in number of different application layer attacks.
Rise in number of different application-layer attacks and surge in demand for secure networks drive the growth of the global application gateway market. On the other hand, lack of mandatory regulations for information security impede the growth to some extent. However, an increase in the adoption of the Internet of things, AI, and software-defined network technologies are expected to create lucrative opportunities in the industry.
Region wise, the application gateway market was dominated by North America in 2020 and is expected to retain its position during the forecast period, owing to increase in number of data breaches and cyber-attacks. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increase in adoption of work from home policy by majority of the companies.
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Depending on industry vertical, the IT & telecom sector holds the largest application gateway market share of the market as it is helping them with network and cyber security capabilities like safeguarding their applications from common vulnerabilities like SQL injection and cross-site scripting, effective management of cloud services, centralized SSL certificate management, and others. However, retail & e-commerce segment is expected to grow at the highest rate during the forecast period, owing to immediate shift in consumer preference toward digital shopping.
Based on enterprise size, the large enterprises segment generated the highest share in 2020, accounting for more than half the global application gateway industry. The SMEs segment, on the other hand, would exhibit the fastest CAGR of 10.7% from 2021 to 2030.
Based on component, the software segment accounted for the major share in 2020, holding nearly three-fifths of the global market. The service segment, however, would exhibit the fastest CAGR of 10.5% throughout the forecast period.
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The key market players analyzed in the global application gateway market report include Aculab, Microsoft Corporation, Akamai Technologies, Citrix Systems, Inc., Barracuda Networks, Inc., Forcepoint, F5, Inc., Zscaler, Inc., Palo Alto Networks, and SAP SE. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
COVID-19 scenario-
• There’s been a steep rise in the adoption of application gateway software for dealing with the increased network traffic securely, which has impacted the global application gateway market negatively.
• Also, there’s been an increasing demand for application gateway software among the SMEs, which has again been beneficial for the industry.
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