Web Application Firewall (WAF) Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Web Application Firewall (WAF) Market Analysis
The web application firewall market was valued at USD 6.8 billion the previous year and is expected to register a CAGR of 19.9%, reaching USD 14.6 billion by the next five years. The web application firewall (WAF) aims to increase the security of HTTP or online communications. It typically employs a set of rules to detect and prevent threats to a system. It is also used in web-enabled applications to regulate and monitor network traffic.
- Rising cyber theft and fraud incidents and rigorous government policies governing data and cyber security are likely to drive market growth. Furthermore, web-based apps and services have changed the nature of information distribution and exchange in today's business, government, and educational sectors. The firewall market is becoming increasingly important for the deeper integration of internal information systems because of the low cost of information and the wide range of online and web-based services.
- Whether expressly or indirectly, specific enterprise and government laws necessitate the adoption of a WAF (Web Application Firewall) solution. For example,(PCI-DSS) is a renowned and significant standard that supports the use of WAF. WAF functionality may be implemented in software or hardware and operate on an appliance device or a conventional server running the same operating system.
- Furthermore, organizations with online commerce and banking platforms primarily use WAFs to safeguard their operations and protect sensitive consumer data. Furthermore, the rising use of firewalls in healthcare is driving the market. WAFs prevent unauthorized access to critical healthcare networks and electronic patient information using Wi-Fi-enabled equipment and other related devices.
- On the other hand, web application firewalls confront two big challenges: cost and performance. Performance is typically challenging with these tools since they monitor all incoming and outgoing information at the application layer. Each protocol, such as HTTP and SMTP, has its own proxy program, and it might take a long time for new network applications and protocols to receive support.
- Due to unusual conditions, the COVID-19 outbreak increased demand for web application firewall solutions during the last two years. Many firms, for example, centered their security efforts on endpoint protection for work-from-home systems. Furthermore, enterprise security teams lacked the resources to address multiple online application security concerns, increasing the demand for a reliable web application firewall.
Web Application Firewall (WAF) Market Trends
Cloud-Based to Witness Significant Growth
- Web application firewall market development is being driven by the increased acceptance of cloud-based technologies as well as the use of social media platforms. All industries now widely use cloud technology, providing corporations with cost-effective security solutions.
- Cloud-based WAF solutions are available as software packages that comprise a comprehensive stack of threat prevention technologies that provide the best defense against vulnerabilities such as malware, phishing, ransomware, and new cyber threats. Cloud-based WAF solutions safeguard and protect the network (VPN) even when users are not connected to their VPN. Among the services they offer are bot identification and enforcement, access control, caching, threat intelligence, API security, virus detection, and Distributed Denial of Service (DDoS) mitigation.
- Cloud computing enables the model to operate from anywhere and at any time. Furthermore, cloud deployment allows organizations to integrate supplemental infrastructure technologies such as software-defined perimeters to construct durable and highly secure systems. As a result, the growing usage of cloud-based solutions propels the expansion of the web application firewall market share.
- The growing use of cloud-based services has increased the number of WAF solutions, which is expected to boost the global web application firewall market size throughout the forecast period. Furthermore, the growing number of compliance requirements and security laws (PCI DSS) and (GDPR) propel the global industry.
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North America Holds the Largest Share in Web Application Firewall Market
- North America has the highest concentration of security suppliers. Because of established nations such as the United States and Canada, North America is the most advanced area regarding cyber security technology usage and infrastructure.
- North America dominates the worldwide web application firewall business regarding technology advances and utilization. It has a well-equipped infrastructure and the financial resources to provide web application firewall solutions. Furthermore, throughout the projected period, the market is expected to rise due to an increase in defense industry spending and technical improvements in the telecommunications industry. Government data security rules fuel the web application firewall (WAF) industry.
- Because of security breaches and the presence of cyber security firms, North America is recognized as the most advanced area for technological adoption and infrastructure. Threat awareness is a major economic and security problem in the region. Growing concern over protecting sensitive data has increased government engagement in recent years.
- Government data security rules fuel the web application firewall (WAF) industry. Security information and cloud applications are projected to drive the market. Furthermore, the presence of industry players such as Imperva, F5, Akamai, Citrix, Barracuda, and Fortinet, as well as a diverse product portfolio, drive the market in this area.
- Furthermore, deploying artificial intelligence and online applications is projected to generate profitable prospects for industry participants. Furthermore, the entrance of new industry players boosts market growth throughout the projection period.
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Web Application Firewall (WAF) Industry Overview
The web application firewall is a fragmented market. Currently, the number of web application attacks is increasingly creating new spaces for the players, and the existing players are segmented into business enterprises as small, medium, and large sectors. The high rivalry is among small and medium players, which the competitive rivalry is high in the market. Key players are Akamai Technologies Inc., F5 Networks Inc., Barracuda Networks Inc., Imperva, Inc., etc.
In April 2023, Akamai Technologies Inc launched its Prolexic Network Cloud Firewall. This new Akamai Prolexic capability allows customers to define and manage their own access control lists (ACLs) while providing greater flexibility to secure their own network edge, where Akamai's cloud-based DDoS protection platform stops attacks before they reach applications, data centers, and internet-facing infrastructure.
In April 2023, Barracuda Networks Inc announced a distribution arrangement with Ingram Micro for the Gulf area. Through this partnership, Ingram Micro will be able to provide Barracuda's whole range of email, application and cloud, network, and data security solutions to resellers in the UAE, Kuwait, Qatar, Oman, Bahrain, Yemen, and Pakistan.
Web Application Firewall (WAF) Market Leaders
Akamai Technologies Inc.
Barracuda Networks Inc.
Citrix Systems, Inc.
*Disclaimer: Major Players sorted in no particular order
Web Application Firewall (WAF) Market News
- April 2023: Akamai Technologies Inc. announced the partnership with Neosec with an API detection and response platform based on data and behavioral analytics, where Neosec's API security solution will significantly enhance Akamai's insight into the constantly developing API threat landscape, complementing Akamai's market-leading application and API security offering. The combination is intended to help clients protect their APIs by assisting them in discovering all of their APIs, assessing their risk, and responding to vulnerabilities and assaults.
- April 2023: Barracuda Networks Inc released new Application security plans to let clients easily safeguard their websites, applications, and APIs with full enterprise-grade security. The new plans combine ML-powered web application, API, DDoS, and bot protection with Zero Trust security to help prevent today's most complex threats where customers require a solution that delivers Web Application and API Protection (WAAP) to applications regardless of where they reside, including on-premises, hybrid, and multi-cloud application deployments. Barracuda's new Application Protection plans are designed to allow clients to select the security features they require, enter the number of apps, and begin.
Web Application Firewall (WAF) Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Buyers/Consumers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Introduction to Market Drivers and Restraints
5.2 Market Drivers
5.2.1 Rising Instances of Web Attacks, Such as Cyber Theft, Espionage, Vandalism, and Fraud
5.2.2 Technological Advancement and Increasing Penetration of IoT Across Various End-user Applications
5.3 Market Restraints
5.3.1 High Cost of Deployment for Appliance-based WAF
6. MARKET SEGMENTATION
6.1 By Component
126.96.36.199 Hardware Appliances
188.8.131.52 Virtual Appliances
184.108.40.206 Support and Maintenance
220.127.116.11 Training and Education
18.104.22.168 Professional Services
22.214.171.124 System Integration
6.2 By Organization Size
6.2.1 Small and Medium-Sized Enterprises
6.2.2 Large Enterprises
6.3 By Industry Vertical
6.3.3 IT and Telecommunications
6.3.4 Government and Defense
6.3.6 Energy and Utilities
6.3.8 Other Industry Verticals
6.4 By Geography
6.4.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
6.4.4 Rest of the World
18.104.22.168 Latin America
22.214.171.124 Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Akamai Technologies, Inc.
7.1.2 Barracuda Networks, Inc.
7.1.3 Cloudflare, Inc.
7.1.4 Citrix Systems, Inc.
7.1.5 Qualys, Inc.
7.1.6 F5 Networks, Inc.
7.1.7 Imperva, Inc.
7.1.8 Fortinet, Inc.
7.1.9 Penta Security Systems Inc.
7.1.10 Radware Ltd.
7.1.11 Trustwave Holdings, Inc.
7.1.12 Nsfocus Information Technology Co., Ltd.
7.1.13 Sophos Group PLC
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Web Application Firewall (WAF) Market Research FAQs
What is the study period of this market?
The Web Application Firewall Market is studied from 2018 - 2028.
What is the growth rate of Web Application Firewall Market?
The Web Application Firewall Market is growing at a CAGR of 19.9% over the next 5 years.
Which region has highest growth rate in Web Application Firewall Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Web Application Firewall Market?
North America holds highest share in 2022.
Who are the key players in Web Application Firewall Market?
Akamai Technologies Inc., Barracuda Networks Inc., Cloudflare Inc., Citrix Systems, Inc., Qualys, Inc. are the major companies operating in Web Application Firewall Market.
Web Application Firewall (WAF) Industry Report
Statistics for the 2023 Web Application Firewall (WAF) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Web Application Firewall (WAF) analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.