USD 5.2 billion
Web Application Firewall Market Size, Share, Growth Analysis, By Component(Solutions (Hardware appliances, Virtual appliances, Cloud-based), Services (Managed Services), By Organization Size (Large Enterprises, Small & Medium Sized Enterprises), By Vertical(Banking, Financial Services & Insurance, Retail, IT & Telecommunications), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45E2229 |
Region:
Global |
Published Date: September, 2024
Pages:
197
|Tables:
96
|Figures:
76
Web Application Firewall Market Insights
Global Web Application Firewall Market size was valued at USD 5.82 billion in 2022 and is poised to grow from USD 6.92 billion in 2023 to USD 27.68 billion by 2031, growing at a CAGR of 18.92% during the forecast period (2024-2031).
Web application firewall market is a speedily progressing sector of the cybersecurity industry, impacted by the rising cases of cyber threats aiming for diverse web applications. The web application firewall market is growing considerably owing to the growth of digital transformation, intensified awareness of cyberattacks, and heavy adoption of cloud services and solutions. The market is also being propelled by the incorporation of machine learning and AI for enhanced threat detection, deployment of zero trust security approaches, and emphasis on API security. Nevertheless, the global market is anticipated to be hampered by performance overheads like concerns for performance consequences, which may impede businesses from adopting these solutions. The market is also negatively impacted by compliance and regulatory challenges. Yet, a few opportunities seen in the market include expansion of digital service and e-commerce, heavy adoption of API security techniques, and incorporation with emerging technologies like IoT.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
BFSI (Banking, Financial Services, and Insurance),
Fastest Growth
Healthcare
Growth Rate
20.88% CAGR
Global Web Application Firewall Market ($ Bn)
Country Share for North America Region (%)
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Web Application Firewall Market Segmental Analysis
Global Web Application Firewall Market is segmented by Component, Organization Size, Vertical, and Region. Based on Component, the market is segmented into Solutions (Hardware appliances, Virtual appliances, Cloud-based), Services (Managed Services, Professional Services (Consulting, Support & Maintenance, Training & Education, System Integration)). Based on Organization Size, the market is segmented into Large Enterprises, Small & Medium Sized Enterprises. Based on Vertical, the market is segmented into Banking, Financial Services & Insurance, Retail, IT & Telecommunications, Government & Defense, Healthcare, Energy & Utilities, Education, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Component
Based on component, the web application firewall market is categorized into solutions and services. The solutions segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to exhaustive protection, integration capabilities, and flexibility and customization offered. Web application firewall offers necessary attributes that defend web applications against different threats like SQL injection, cross-site scripting, and DDoS attacks. Web application firewall solution can be smoothly customized to cater to the growing business requirements to adopt security measures that comply with different business working environments. WAF solutions mostly incorporate smoothly with security technologies and cloud-based services, thus improving overall security architecture.
On the other hand, the services segment is projected to grow considerably over the forecast period owing to better implementation support, the rising number of training and consulting, and better integration and customization offered. Businesses need professional services to configure efficiently and deploy web application firewall services, thus impacting expert services. Since web application firewall services technologies have emerged, businesses are seeking consulting and training services for staying up to date with the latest practices and compliance needs. Services also help customize web application firewall solutions to certain business requirements and incorporate them with current security architecture. Furthermore, for better monitoring and management, businesses are actively adopting managed services without compromising internal resources.
Analysis by Vertical
Based on vertical, the market is segmented into banking, financial services & insurance, retail, IT & telecommunications, government & defense, healthcare, energy & utilities, education, and others. The banking, financial services & insurance segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to the growing sensitivity of data, strict regulatory compliance, growing cyber threats, and rising digital transformation. BFSI businesses manage huge quantities of sensitive personal and financial information daily, which make them primary targets for cyber risks. Strict regulations like GDPR, PCI DSS need strong security for defense against customer data, impacting the demand for effective WAF techniques. Financial institutes and banks are majorly adopting online platforms and digital services that increase the need for web application security, thus impacting the segment’s growth.
On the other hand, the retail segment will hold a remarkable market share in the coming years owing to the rise of e-commerce, sensitive consumer data, regulatory, compliance. The speedy expansion of online sales and shopping has intensified the dependency on web applications, demanding strong security measures to safeguard transactions. Since retailers manage huge quantities of payment and personal information, they are easy prey to cyberattacks, which increases the need to adopt strong web application security measures. Also, compliance with regulations like PCI DSS need retailers to adopt strong protocols to safeguard consumer information. Moreover, to maintain consumer trust, retailers are increasingly adopting these measures, thus driving the segment’s growth.
Global Web Application Firewall Market Size By Component
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Web Application Firewall Market Regional Insights
Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the growing technological advancements, high awareness for cybersecurity, and heavy cloud adoption. North America is the center for a large number of prominent technology companies, impacting a number of innovations and developments in cyber security measures. Organizations and businesses in the region are prioritizing security investment and funding owing to the rising number of cyber threats and regulatory needs. Also, wide adoption of cloud-based services demand web application firewall technologies that safeguard web applications. The key players profiled in the region include Akamai, Cloudflare, Imperva, F5 Networks, Barracuda Networks, Fortinet, AWS WAF (Amazon Web Services), and more.
Asia-Pacific is the fastest-growing region in the global web application firewall market due to speedy digital transformation, growing cyber threats, rise of e-commerce, and government initiatives. Several businesses are shifting towards digital platforms, which increases the demand for strong web application security. Rising cases of cyber threats are forcing businesses to invest in web application firewall technologies. The rise of e-commerce has also escalated the need for improved security measures to safeguard consumer details. Regional growth is also backed by government initiatives and rising regulatory frameworks that encourage investments in cybersecurity. Moreover, accelerated adoption of cloud-based services is also fueling the regional growth.
Global Web Application Firewall Market Size By Geography
- Largest
- Fastest
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Web Application Firewall Market Dynamics
Drivers
Growing Number of Cyber Threats
- The sophistication and frequency of cyberattacks like (XSS) cross-site scripting, SQL injection, and DDoS attacks are growing on a large scale. Businesses and companies are actively highlighting web application security for better guard confidential and sensitive information and maintain continuity of business. This priority is resulting in increased demand for WAF solutions as key elements of cybersecurity tactics.
Introduction of DevSecOps Practices
- The incorporation of security in DevOps (DevSecOps) process focuses on the need for better security measures during the lifecycle of software development. As businesses are increasing adopting DevSecOps, the need and demand for web application firewall is also increasing. WAFs can effectively and smoothly incorporate CD-CI pipelines, confirming proper security is preserved from development via deployment.
Restraints
Evolving Threat Landscape to Restrain Market
- Cyber threats are constantly changing and progressing with attackers creating novel techniques to break improved security measures. This is one of the leading challenges witnessed in the market. Web application firewalls should periodically upgrade their learning and rules to stay updated with these variations and changes. Businesses may be worried about if their web application security efficiently mitigates developing threats.
Integration Complexity and Low Awareness
- Incorporating web application firewall with the current IT security tools and infrastructure may be challenging and consume time. Businesses may witness barriers in complying with their existing systems, resulting in delays in implementation and higher operational overheads. Moreover, several businesses are not fully aware of the benefits of WAFs, which may slow down the adoption of these features, thus hindering the market.
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Web Application Firewall Market Competitive Landscape
The competitive landscape of the global web application firewall market comprises a combination of progressing players and well-established players, including Akamai, Cloudflare, Imperva, F5 Networks, and AWS WAF. These key players profiled in the market are engaged in collaborations and new product launches and new product offerings to help their consumers get the best protection against the potential threats. Other players operating in the market re engaged in offering solutions to small enterprises with key focus on consumer support. Service providers are speedily inclining towards cloud-based WAFs for creating better market presence and expanding their global reach. Overall, the market is reflected by partnerships and innovations to develop strong security measures against emerging threat attacks.
Top Player’s Company Profiles
- Imperva
- Akamai
- KKR (Barracuda Networks)
- Cloud Software Group (CSG) (Citrix)
- Cloudflare
- F5 Networks
- Fortinet
- Radware
- Penta Security Systems
- The Chertoff Group (Trustwave)
- NSFOCUS
- Thoma Bravo
- Positive Technologies
- Oracle
- AWS
- Alibaba Group
- SonicWall
- Snyk
- TransUnion
- Zscaler
- Webroot
- Sectigo Limited (SiteLock)
Recent Developments
- In July 2024, Barracuda Networks signed an SCA (Strategic Collaboration Agreement) with AWS. This strategic alliance will help offer simplicity and flexibility for its clients in procurement, licensing, and deployment. It comprises major investments in proof-of-concept funding, marketing development funds, and (ISV) Independent Software Vendor workload mitigation funding.
- In April 2024, F5 Networks announced the introduction of its modernized security offerings that reinforce protections and streamline management for consumers. They have launched BIG-IP Next Web Application Firewall (WAF), F5 Distributed Cloud Services Web Application Scanning, and NGINX App Protect mainly for open-source deployments. With these launches, the company is increasing its leadership with the highly exhaustive and effective AI-enabled application and API security package.
- In March 2024, Cloudflare announced the introduction of Firewall for AI, a protective layer that can be installed in front of LLMs to detect abuses prior reaching models. With the growth of artificial intelligence models and essentially LLMs, consumers' concern for security is also rising. They are increasingly demanding the best strategies for the safety of their LLMs. Utilizing LLMs emerges novel vulnerabilities that can be broken by harmful players.
Web Application Firewall Key Market Trends
- Shift Towards Cloud: There is a growing shift witnessed towards cloud-enabled web application firewall solutions rather than conventional on-premises deployments. Cloud-based web application firewall provides flexibility, scalability, and easy maintenance. They can comparatively easily adapt to the rising traffic spikes and offer enhanced shields in response to DDoS attacks. As companies and businesses are shifting towards cloud-based applications, cloud web application firewalls are gaining traction and becoming a regular security measure.
- ZERO Trust Security Models: The deployment of zero trust codes is notably impacting web application firewall strategies, focusing that no device or user should be trusted or authorized by default. Web application firewalls are being incorporated in a wide range of zero trust frameworks, confirming that all the receiving traffic is constantly monitored and authenticated. This approach improved security by restricting lateral movement in networks and lowering attack surface.
Web Application Firewall Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the web application firewall market is considerably progressing due to the mounting number of cyber threats, the growing use of web and mobile applications, and rising awareness of cybersecurity risks. However, the market is restrained by the management overhead and false positives, the speedily evolving threat landscape, and the lack of professional labor. North America is anticipated to lead the market owing to the speedy adoption of innovative technologies, strict regulatory compliance that demands the adoption of protection measures, and the presence of a larger number of market vendors. Nonetheless, a few opportunities witnessed in the market include focus on user experience, the growing number of training and education programs, and higher regulatory scrutiny.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.82 billion |
| Market size value in 2031 | USD 27.68 billion |
| Growth Rate | 18.92% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Web Application Firewall Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Web Application Firewall Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Web Application Firewall Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Web Application Firewall Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Web Application Firewall Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Web Application Firewall Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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