Web application firewall market size provides stakeholders with an effective means of determining growth opportunities. It provides in-depth analyses of key players, market segments and application areas.
Rising demand for cloud-based solutions, an increase in cyberattack activities, stringent industry standards & regulatory compliance with an expanding application area, and an acute lack of trained professionals are the major forces propelling the web application firewall market through 2024.
North America web application firewall market is expected to experience rapid compound annual compound annual growth during its forecast period, due to an increasing incidence of cyber theft and fraud along with stringent government regulations regarding data security. Furthermore, increasing defense spending as well as technological developments within telecommunications could further spur this market expansion.
This report segments the global web application firewall market by deployment model (on-premise and cloud), component type and organisation size. Within each component category are hardware appliances, virtual appliances and cloud-based products; large enterprises and SMEs make up organization sizes; while end use industries include banking, financial services and insurance, retail, IT/Telecoms/Healthcare/Aerospace & Defence as well as energy & utilities.
Akamai Technologies, Applicure Technology Ltd., Barracuda Networks, Citrix Systems Inc., Cloudflare Inc. and Ergon Informatik AG are among the key players operating in this global web application firewall market. F5 Networks Inc.’s Imperva product also plays an integral part. Other key companies in this sector include Nsfocus Information Technology Co Ltd, Penta Security Systems and Radware Inc.
The global web application firewall market can be divided into five segments based on component (solution, services), deployment model, organization size, industry vertical and region. Within these six groups there are further subdivisions such as virtual appliances versus physical appliances and professional services versus managed services as well as on-premise and cloud-based WAF solutions.
Large enterprises dominated the overall market in 2016 and are projected to maintain this lead through 2024, due to their increased focus on protecting network devices within large organizations, as well as increased adoption of WAFs among SMEs, fueling its growth.
Healthcare industries are turning to WAFs in increasing numbers to prevent unauthorized access to critical data, namely electronic health records and other sensitive data from malware or cyber attacks. Digitization in healthcare has propelled this market growth; use of WAFs by online merchants against hacking/phishing attacks is also playing a part.
Asia Pacific web application firewall market is expected to experience rapid expansion due to rising internet usage in this region and technological innovations in defense and telecom industries.
Increased instances of cyber theft and frauds in the region, stringent industry standards & regulations and rising demand for cloud-based solutions are some factors propelling market expansion. Further driving market growth are online applications’ growing significance in business settings.
This report offers in-depth competitive analysis of key players in the global web application firewall market. It examines their products, markets, regional presence, SWOT analysis and financial details as well as company profiles that include product offerings, key strategies and new investments from leading firms like Akamai Technologies Inc, Barracuda Networks Inc, Citrix Systems Inc F5 Networks Inc Imperva Inc Nsfocus Information Technology Co Ltd Radware Ltd among others.
Rest of the World
Large enterprises dominated the global web application firewall market in 2020 in terms of organization size. A key driver is their high demand for cloud-based solutions and increasing cyber attack activities necessitating protection at the open system interconnection model’s application layer, while additional major factors including stringent industry standards & regulatory compliance concerns combined with an increase in application areas and lack of skilled professionals are expected to further advance market expansion.
Web application firewall solutions help protect against various security breaches such as cross-site scripting (XSS), SQL injection attacks, buffer overflows and session hijacking. An increase in awareness regarding cybersecurity threats as well as increasing government involvement to regulate IT infrastructure and strengthen data security are projected to fuel market growth during this period; however, high costs associated with solutions coupled with the rise in adoption of integrated RASP may impede market expansion further; competition from UTM solutions may further hinder this market expansion.