Penta Security Applauded by Frost & Sullivan for Safeguarding Applications and APIs from Sophisticated Threats and for Its Market-leading Position
Penta Security has grown and maintained its leadership position in the South Korean WAF industry, recording a year-over-year double digit revenue growth in 2022, lower than the 20% in 2021.
SAN ANTONIO, May 25, 2023 /CNW/ -- Frost & Sullivan recently assessed the web application firewall (WAF) industry and, based on its findings, recognizes Penta Security Systems with the 2023 South Korean Company of the Year Award. The company deploys WAPPLES, its International Computer Security Association (ICSA) Labs-certified WAF, in public cloud environments, such as AWS and Microsoft Azure, and uses its Security-as-a-Service (SECaaS) Cloudbric to support expedited cloud migration processes. Penta Security's diverse portfolio of supported cloud environments addresses the increasing demand for cloud-based WAF solutions over the last two years. With WAPPLES supporting local cloud environments across Asia-Pacific, the company offers scalability and accessibility to its customers, differentiating it in South Korea.
Penta Security bridges local WAF market technology gaps by offering comprehensive threat protection. WAPPLES' threat intelligence platform detects new web vulnerabilities, provides automated vulnerability updates, and allows customers to patch vulnerabilities quickly and respond to attacks instantly. Based on advanced technologies that improve threat detection efficiency, the solution instantly detects and blocks known, modified, and zero-day attack vectors that alter the application programmig interface (API) and YAML data formats within incoming web traffic, differentiating Penta Security from competitors.
Ying Ting Neoh, Cybersecurity Research Analyst, Frost & Sullivan, observed, "Penta Security has gained a competitive edge in the local market by staying updated and complying with the latest regulations in South Korea. Frost & Sullivan commends its WAF solutions that showcase the implementation of best practices to meet customers' unmet needs."
Penta Security's WAPPLES successfully reduces false positives and achieves a 144% improved network performance, compared to the previous model after an upgrade. The company's sandbox environment for WAPPLES fends off evolving application layer attacks, and its strategic partnerships in South Korea and worldwide provide local customers with access to advanced technologies, a world-class experience, and 24/7 support when expanding the geographic reach. Penta Security continuously fosters strong customer ties and achieves loyalty across the South Korean WAF industry, with its reputation and brand value in the region garnering solid growth across verticals in 2022.
"Penta Security has positioned itself as an industry leader in South Korea due to its steady business performance in 2022. It has continuously upheld its brand value as the South Korean WAF industry leader while fostering strong customer relationships," added Neoh. With its strong overall performance, Penta Security earns Frost & Sullivan's 2023 South Korean Company of the Year Award in the WAF industry.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence, in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership, in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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SOURCE Frost & Sullivan