Web Application Firewall (WAF) Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Global WAF Market Report is Segmented by Component (Solution, Services), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Industry Vertical (BFSI, Retail, IT and Telecommunications, Government and Defense, Healthcare, Energy and Utilities, Education), and Geography.

Web Application Firewall (WAF) Market Size

Web Application Firewall Market Summary
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR 19.90 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Web Application Firewall Market Major Players

*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.
Web Application Firewall Market - Top-10 Leading Cloud Vendors by Total Revenue 2023, Worldwide, in Billion USD

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.
Web Application Firewall Market - Growth Rate by Region

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

  1. Akamai Technologies Inc.

  2. Barracuda Networks Inc.

  3. Cloudflare Inc.

  4. Citrix Systems, Inc.

  5. Qualys, Inc.

*Disclaimer: Major Players sorted in no particular order

Web Application Firewall Market Concentration

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. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Buyers/Consumers

      2. 4.3.2 Bargaining Power of Suppliers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET DYNAMICS

    1. 5.1 Introduction to Market Drivers and Restraints

    2. 5.2 Market Drivers

      1. 5.2.1 Rising Instances of Web Attacks, Such as Cyber Theft, Espionage, Vandalism, and Fraud

      2. 5.2.2 Technological Advancement and Increasing Penetration of IoT Across Various End-user Applications

    3. 5.3 Market Restraints

      1. 5.3.1 High Cost of Deployment for Appliance-based WAF

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Component

      1. 6.1.1 Solutions

        1. 6.1.1.1 Hardware Appliances

        2. 6.1.1.2 Virtual Appliances

        3. 6.1.1.3 Cloud-Based

      2. 6.1.2 Services

        1. 6.1.2.1 Consulting

        2. 6.1.2.2 Support and Maintenance

        3. 6.1.2.3 Training and Education

        4. 6.1.2.4 Professional Services

        5. 6.1.2.5 System Integration

    2. 6.2 By Organization Size

      1. 6.2.1 Small and Medium-Sized Enterprises

      2. 6.2.2 Large Enterprises

    3. 6.3 By Industry Vertical

      1. 6.3.1 BFSI

      2. 6.3.2 Retail

      3. 6.3.3 IT and Telecommunications

      4. 6.3.4 Government and Defense

      5. 6.3.5 Healthcare

      6. 6.3.6 Energy and Utilities

      7. 6.3.7 Education

      8. 6.3.8 Other Industry Verticals

    4. 6.4 By Geography

      1. 6.4.1 North America

        1. 6.4.1.1 United States

        2. 6.4.1.2 Canada

      2. 6.4.2 Europe

        1. 6.4.2.1 United Kingdom

        2. 6.4.2.2 Germany

        3. 6.4.2.3 France

        4. 6.4.2.4 Rest of Europe

      3. 6.4.3 Asia-Pacific

        1. 6.4.3.1 China

        2. 6.4.3.2 India

        3. 6.4.3.3 Japan

        4. 6.4.3.4 Rest of Asia-Pacific

      4. 6.4.4 Rest of the World

        1. 6.4.4.1 Latin America

        2. 6.4.4.2 Middle East & Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Akamai Technologies, Inc.

      2. 7.1.2 Barracuda Networks, Inc.

      3. 7.1.3 Cloudflare, Inc.

      4. 7.1.4 Citrix Systems, Inc.

      5. 7.1.5 Qualys, Inc.

      6. 7.1.6 F5 Networks, Inc.

      7. 7.1.7 Imperva, Inc.

      8. 7.1.8 Fortinet, Inc.

      9. 7.1.9 Penta Security Systems Inc.

      10. 7.1.10 Radware Ltd.

      11. 7.1.11 Trustwave Holdings, Inc.

      12. 7.1.12 Nsfocus Information Technology Co., Ltd.

      13. 7.1.13 Sophos Group PLC

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

Web Application Firewall (WAF) Industry Segmentation

The web application firewall is an application firewall for HTTP applications. Web applications are valuable tools for businesses of all sizes. A WAF can be either network-based, host-based, or cloud-based and is often deployed through a reverse proxy and placed in front of one or more websites or applications. These applications enable businesses to communicate with customers, potential customers, employees, partners, and other information technology (IT) systems. E-commerce witnesses a mix of attempts designed to cause downtime and access internal files, which WAF helps them to secure.

The web application firewall market is segmented by Component (Solution (Hardware Appliances, Virtual Appliances, Cloud-Based), Services (Consulting, Support and Maintenance, Training and Education, Professional Services, System Integration)), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Industry Vertical (BFSI, Retail, IT and Telecommunications, Government and Defense, Healthcare, Energy and Utilities, Education), and Geography (North America(United States, Canada), Europe (United Kingdom, Germany, France, Rest of Europe), Asia-Pacific (China, Japan, India) and Rest of the World (Latin America, Middle East & Africa)). The market size and forecast are provided in terms of value (USD) for all the above segments.

By Component
Solutions
Hardware Appliances
Virtual Appliances
Cloud-Based
Services
Consulting
Support and Maintenance
Training and Education
Professional Services
System Integration
By Organization Size
Small and Medium-Sized Enterprises
Large Enterprises
By Industry Vertical
BFSI
Retail
IT and Telecommunications
Government and Defense
Healthcare
Energy and Utilities
Education
Other Industry Verticals
By Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Latin America
Middle East & Africa

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Web Application Firewall (WAF) Market Research FAQs

The Web Application Firewall Market is studied from 2018 - 2028.

The Web Application Firewall Market is growing at a CAGR of 19.9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2022.

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.

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