Web Application Firewall Market Size, Share, Growth Analysis, By End User(BFSI (Banking, Financial Services, and Insurance), IT and Telecom), By Component(Hardware, Software, Services (Managed Services, Professional Services)), By Type(Network-Based, Host-Based, and Cloud-Based), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45E2229 | Region: Global | Published Date: April, 2024
Pages: 197 |Tables: 96 |Figures: 76

Web Application Firewall Market Insights

Global Web Application FirewallMarket size was valued at USD 5.2 billion in 2022 and is poised to grow from USD 6.29 billion in 2023 to USD 28.65 billion by 2031, growing at a CAGR of 20.88% during the forecast period (2024-2031).

The global web application firewall market has experienced rapid growth in recent years mainly stemming from the rising frequency and complexity of cyber-attacks that led to increased demand for WAF products driving the market growth. The WAF market has grown due to organizations in different sectors adopting high-end safety systems targeting web attacks. Web application attacks have evolved constantly and that is why sophisticated WAF solutions exist, with such features as machine learning or even behavioural analytics.

Furthermore, there are rising numbers who adopt cloud-based WAF as the security demand grows towards dynamism and extensibility. There are several key market players such as impervas, akamai technology and F5 network that still innovate making the global web application firewall thrive. Despite these issues like complex web application settings and high-skilled cybersecurity professionals, this will limit market growth. With growing economies and digitized markets in the Asia-Pacific region, there are substantial future chances for the WAF market growth. In general, the world market relates to ensuring strong protection of web applications on the backdrop of rapid development of cyber-attacks.

Market Snapshot - 2024-2031

Global Market Size

USD 5.2 billion

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

The global web application firewall market is segmented into four major segments i.e. by By End User, Component, Type, and region. Based on end use, it is divided into BFSI (Banking, Financial Services, and Insurance), IT and Telecom, Healthcare, Retail, Government and Defense, Others. Based on Component, it is bifurcated as Hardware, Software, Services (Managed Services, Professional Services). Based on Type it is segregated into, Network-Based, Host-Based, Cloud-Based. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

Analysis by End User

The BFSI sector is usually associated with a large share of markets because cyber threats are likely to attack highly confidential financial information. In that industry, robust web application security is required. The use of web application firewalls is promoted by strict rules and legal obligations within the financial sector; hence, this area becomes quite a popular one.

Healthcare has become very popular due to rapid digitalization of patient data flows and other processes in business operations that render healthcare susceptible to cyber attacks. With increased risk, effective web application security is demanded. Web application security is crucial in modern healthcare that is undergoing a digital revolution involving telemedicine and cloud based solutions.

Analysis by Systems

WAF systems that are cloud based have for a while been at the forefront of the global WAF market since they enable organizations to address fluctuations in WEB traffic volume and new generation threats. However, cloud solutions facilitate easy accessibilities as well as management making them important even to the enterprises with distributed branches and remote work. They also feature lower initial costs and cheaper maintenance as opposed to premise alternatives.

A rapid growing segment of the Machine Learning-Powered WAFs market as machine learning improves WAFs that have the capacity to alter and learn from continuously changing cyber security threats resulting in a more agile defense. WAFs powered with ML have a superior ability to detect and neutralize advanced attacks through the identification of trends and deviations present in web traffic. Machine learning reduces false positives and improves the accuracy of threats detection and reduces inconvenience on honest people.

Global Web Application Firewall Market By End-user

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Web Application Firewall Market Regional Insights

Historically, North America has led in the Web Application Firewall Market as many people already know about cybersecurity and are ready to implement new technologies. The adoption of more powerful security standards and regulations within fields such as banking and health increases demand for WAF, therefore enlarging the market.

Increased adoption of internet-based business transactions within Asia-Pacific has prompted enhanced demand for stringent information security features. The increasing economies of some countries such as India and Germany propel investments in cybersecurity technologies like web application firewalls. There exists considerable room for expanded outlets in emerging markets in the region based on an improved sense of exposure and defenses against cyber attacks.

Global Web Application Firewall Market By Region
  • Largest
  • Fastest

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Web Application Firewall Market Dynamics

Drivers

Increasing Escalating Frequency of Cyber Threats

  • CyberTHREATS are frequentLY increasing and sophisticated, necessitating a high order of demand for WAF services by various companies. The necessity for companies to protect their applications as cyber threats continue to grow is spurring huge investment into sophisticated protection mechanisms. As a result, modern WAFs are designed on a daily basis using advanced technology such as Machine Learning and Behavior Analytics.

Restraints

High Complexity of Web Application Environments

  • Among major market inhibitors include the complexity of web applications’ environments that encompass multiple technologies, elaborate infrastructures. Organizations face some difficulties when integrating and tailoring WAF solutions to blend in with such environments. Furthermore, skilled cybersecurity experts are greatly required to oversee and optimize the implementation of WAF. Absence of such a knowledge base can be an obstacle towards effective deployment of WAF capabilities.

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Web Application Firewall Market Competitive Landscape

It is important to note that, even though major players in this market are looking forward to coming up with innovative tools, they also want to be ahead of their competitors. Market’s leaders often compete with each other as they seek to boost production and establish alliances with other companies for market expansion. Such strategies include collaboration and integration with emerging technologies including artificial intelligence and machine learning. Furthermore, there are many niche players that join the markets and provide products specific to certain industries or characteristics for differentiating within the WAF sector.

Top Player’s Company Profiles

  • Cloudflare
  • Imperva
  • Akamai
  • F5 Networks
  • Radware
  • Citrix
  • Microsoft
  • Google Cloud Platform
  • Barracuda Networks
  • Fortinet
  • Palo Alto Networks
  • RSA Security (Dell Technologies)
  • Qualys
  • Incapsula (IBM)
  • AppTransec
  • Wallarm
  • Wafoo
  • SiteLock
  • Defiant
  • Vectra Networks

Recent Developments

  • January 2023: Citrix has received Teros, a Web Application Firewall (WAF) Independent Software Vendor (ISV), with undisclosed economic terms. This acquisition gives Citrix a robust firewall solution for various web-based programs, encompassing business programs and XML internet offerings.
  • December 2023: Thoma Bravo, a outstanding software program funding company, has effectively concluded the sale of Imperva, a top-tier issuer of utility and information security answers, to Thales (Euronext Paris: HO). This transaction, performed absolutely in cash, assesses the value of Imperva at approximately $3.6 billion.

Web Application Firewall Key Market Trends

  • Rising Integration of Advanced Technologies, particularly AI and ML: Advanced technologies, especially artificial intelligence/machine learning, are now being incorporated in WAF solutions. This inclusion makes WAFs more dynamic to respond to evolving cyber threats to provide better security. Moreover, real-time analytics features in WAF ensure rapid response to new threats. Another trend in the market shows the growth of cloud based WAF solutions, which reveals the industry’s tendency for scalable and flexible security systems.

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.

Global web application firewall marketplace evaluation is a dynamic market with some standout developments and difficulties. The marketplace is propelled by heightened cybersecurity issues, using organizations to invest in superior protection solutions. However, complexity in internet software environments poses integration challenges, requiring skilled cybersecurity experts. Cloud-based WAF answers are gaining prominence for his or her scalability and flexibility.

Geographically, North America dominates because of early generation adoption, even as Asia-Pacific reveals the quickest growth fueled by way of digital transformation. Key tendencies include the mixing of AI and device learning for adaptive safety and real-time analytics. These factors shape a competitive panorama wherein industry leaders constantly innovate to cope with evolving cyber threats.

Report Metric Details
Market size value in 2022 USD 5.2 billion
Market size value in 2031 USD 28.65 billion
Growth Rate 20.88%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • End User
    • BFSI (Banking, Financial Services, and Insurance), IT and Telecom, Healthcare, Retail, Government and Defense, and Others
  • Component
    • Hardware, Software, Services (Managed Services, Professional Services)
  • Type
    • Network-Based, Host-Based, and Cloud-Based
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
  • Cloudflare
  • Imperva
  • Akamai
  • F5 Networks
  • Radware
  • Citrix
  • Microsoft
  • Google Cloud Platform
  • Barracuda Networks
  • Fortinet
  • Palo Alto Networks
  • RSA Security (Dell Technologies)
  • Qualys
  • Incapsula (IBM)
  • AppTransec
  • Wallarm
  • Wafoo
  • SiteLock
  • Defiant
  • Vectra Networks
Customization scope

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  • Region

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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
  • 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
  • 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
  • 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(%)

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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FAQs

Web Application FirewallMarket size was valued at USD 5.2 billion in 2022 and is poised to grow from USD 6.29 billion in 2023 to USD 28.65 billion by 2031, growing at a CAGR of 20.88% during the forecast period (2024-2031).

It is important to note that, even though major players in this market are looking forward to coming up with innovative tools, they also want to be ahead of their competitors. Market’s leaders often compete with each other as they seek to boost production and establish alliances with other companies for market expansion. Such strategies include collaboration and integration with emerging technologies including artificial intelligence and machine learning. Furthermore, there are many niche players that join the markets and provide products specific to certain industries or characteristics for differentiating within the WAF sector. 'Cloudflare', 'Imperva', 'Akamai', 'F5 Networks', 'Radware', 'Citrix', 'Microsoft', 'Google Cloud Platform', 'Barracuda Networks', 'Fortinet', 'Palo Alto Networks', 'RSA Security (Dell Technologies)', 'Qualys', 'Incapsula (IBM)', 'AppTransec', 'Wallarm', 'Wafoo', 'SiteLock', 'Defiant', 'Vectra Networks'

CyberTHREATS are frequentLY increasing and sophisticated, necessitating a high order of demand for WAF services by various companies. The necessity for companies to protect their applications as cyber threats continue to grow is spurring huge investment into sophisticated protection mechanisms. As a result, modern WAFs are designed on a daily basis using advanced technology such as Machine Learning and Behavior Analytics.

Rising Integration of Advanced Technologies, particularly AI and ML: Advanced technologies, especially artificial intelligence/machine learning, are now being incorporated in WAF solutions. This inclusion makes WAFs more dynamic to respond to evolving cyber threats to provide better security. Moreover, real-time analytics features in WAF ensure rapid response to new threats. Another trend in the market shows the growth of cloud based WAF solutions, which reveals the industry’s tendency for scalable and flexible security systems.

Historically, North America has led in the Web Application Firewall Market as many people already know about cybersecurity and are ready to implement new technologies. The adoption of more powerful security standards and regulations within fields such as banking and health increases demand for WAF, therefore enlarging the market.

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