Global Web Application Firewall market report 2024, Forecast To 2033
4 Mar, 2024
The web application firewall market has grown rapidly in recent years, increasing from$5.04 billion in 2023 to$5.98 billion in 2024, with a compound annual growth rate (CAGR) of 18.5%. This growth in the historic period is attributed to cybersecurity maturation, awareness and education, vendor competition and innovation, web application development, and remote work trends. Looking ahead, the market is expected to see rapid growth, reaching$11.64 billion in 2028, with a CAGR of 18.1%. Factors driving this growth include demand for scalable solutions, industry-specific application security needs, agile development practices, and increasing application complexity. Major trends in the forecast period include customization and scalability, growing importance of application security, integration into DevOps processes, remote workforce security, and advancements in WAF technologies.
Global Web Application Firewall Market Key Driver
The increase in the number of cyberattacks and data breach activities is expected to propel the web application firewall market going forward. A cyberattack or data breach is a malicious and intentional attempt by an individual or a group to breach the information system of another person or organization. It is used to gain unauthorized access, corrupt, disrupt, disable, and control someone's computer. A web application firewall prevents and protects the web application from cyberattacks and keeps the data safe. For instance, according to the cybersecurity threat landscape report by Positive Technologies, a Russia-based cybersecurity company, the number of cyberattacks increased by 17% in Q1 2021 as compared to Q1 2020, and it increased by 1.2% as compared to Q4 2020. Furthermore, according to the 2022 cost of a data breach report published by IBM (International Business Machines Corporation), the average cost of a data breach increased 2.6%, from USD 4.24 million in 2021 to USD 4.35 million in 2022. Therefore, the increase in the number of cyberattacks and data breaches is significantly contributing to the growth of the web application firewall market. The web application firewall market is projected to reach $X billion by 2023 and is anticipated to expand to $Y billion by 2028.
Get A Free Sample Of The Global Web Application Firewall Market ReportGlobal Web Application Firewall Market Segments
The global web application firewall market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Model: On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small and Medium Sized Enterprises
4) By Vertical or End User: Banking, Financial Services and Insurance, Retail, IT and Telecommunications, Government and Defense, Healthcare, Energy and Utilities, Education, Other Verticals
By Geography: The regions covered in the web application firewall market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the web application firewall market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the web application firewall market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Web Application Firewall Industry Players
Imperva Inc., Akamai Technologies Inc., Barracuda Networks Inc., Citrix System Inc., Cloudflare Inc., F5 Networks Inc., Fortinet Inc., Radware Ltd., Qualys Inc., Ergon Informatik AG, Amazon Web Services Inc., Nsfocus Information Technology Co. Ltd., Rohde & Schwarz GmbH & Co. KG, Microsoft Corporation, AppTrana by Indusface, Czar Securities Private Limited, Fastly Inc., Penta Security Systems Inc., PerimeterX, Signal Sciences Corporation, SiteGuard, SiteLock LLC, Sophos Group, Sucuri Inc., Trustwave Holdings Inc., Virsec Systems, Wallarm Inc.
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Web Application Firewall Market Overview
Web application firewall is a type of application firewall that is used to prevent, monitor, and filter harmful HTTP traffic to and from an online service. The primary purpose of web application firewalls is to prevent attacks, protect customer data, and ensure proper compliance. It focuses on a set of policies that assist in determining which traffic is malicious and which traffic is safe.
Web Application Firewall Global Market Report 2023 provides data on the global web application firewall market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The web application firewall market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.