Web Application Firewall Market

Market Synopsis:

The Global Web Application Firewall Market is valued at USD 3.82 Billion in the year 2021 and is forecasted to reach a value of USD 9.57 Billion by the year 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 16.30% over the forecast period.

The Web Application Firewall (WAF) is intended to improve the security of HTTP or online interactions. To identify and block threats to a system, it generally follows a set of rules. Its also used to manage and track network traffic for web-based applications. This firewall creates a relatively secure barrier between the system and the outside world. It protects the open system interconnection models application layer from a variety of attack types, including XSS, SQL injection, cross-site scripting, DT, and RFI. Increased demand for cloud-based solutions, as well as strict industry norms and regulations, are major growth factors for the market. Cloud-based WAF solutions are offered as software packages that include a full stack of threat prevention technologies that offer the greatest protection against vulnerabilities including malware, phishing, ransomware, and emerging cyber threats. Even when users are not connected to their Virtual Private Network, cloud-based WAF solutions protect and secure the network (VPN). Bot detection and enforcement, access control, caching, threat intelligence, API security, malware detection, and Distributed Denial of Service (DDoS) mitigation are among the services they provide.

Certain industry and government laws, either expressly or implicitly, demand the deployment of a WAF (Web Application Firewall) solution. The Payment Card Industry Data Security Standard (PCI-DSS), for example, is a well-known and significant regulation that encourages WAF use. WAF capability can be implemented in software or hardware and can run on an appliance device or a standard server with a common operating system. Machine learning and artificial intelligence are two popular WAF technologies that play important roles in the WAF arena. Hardware WAF appliances, virtual appliance-based systems, and cloud-based applications can all be used to deploy WAF solutions and services across an organizations cyber infrastructure. System integration and training, as well as support and maintenance, are among the primary suppliers' supporting services for a smooth transition and implementation of WAF solutions.

Market Segmentation:

The Web Application Firewall Market is segmented on the basis of Component, Solution, Service, Professional Service, Organization Size, and Industry Vertical. On the basis of Component, the market is segmented into Solutions and Services. On the basis of Solution, the market is segmented into Hardware appliances, Virtual appliances, and Cloud-based. On the basis of Service, the market is segmented into Professional services and Managed services. On the basis of Professional Service, the market is segmented into Consulting, Support and maintenance, Training and education, and System integration. On the basis of Organization Size, the market is segmented into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. On the basis of Industry Vertical, the market is segmented into Banking, Financial Services, and Insurance (BFSI), Retail, IT and telecommunications, Government and defense, Healthcare, Energy and utilities, Education, and Others (media and entertainment, transport and logistics, and manufacturing).

Based on Solution

Cloud-based solutions are predicted to increase at the quickest rate over the projection period due to capabilities such as bot identification and enforcement, caching, API security, Distributed Denial of Service (DDoS) mitigation, access control, threat intelligence, and malware detection.

Based on Organization Size

The Web Application Firewall industry is likely to stay stable in the next years, with major businesses dominating the global market. Furthermore, network and WAF security are required for integrating overall security for IT assets. Large enterprises are expanding their market due to the need to protect data and growing awareness of security events. The ease of setup, the incorporation of sandboxing technologies, and sophisticated detection capabilities have all enhanced the use of WAF firewalls among major corporations. Furthermore, WAF firewalls are expected to outperform next-generation network firewalls (NGFW) and intrusion prevention systems (IPS) in terms of providing advanced protection capabilities for internal business-critical applications, internet-facing websites, and web services during the forecast period.

North America

is Expected to Have a First-Rate Boom Within the Market

North America acquired the largest market share during the year 2021 with a share of 40.2%. It has a well-equipped infrastructure and the funds to purchase web application firewalls. In addition, higher defense spending and technological advancements in the telecommunications industry are expected to drive market growth throughout the forecast period. Government data security regulations fuel the Web Application Firewall (WAF) Market.

Services such as security information and cloud applications are expected to fuel the market. Additionally, market participants are projected to gain from the rise in artificial intelligence and online application utilization. Furthermore, during the forecast period, the introduction of new industry players will help the market progress.

Competitive Landscape:

Key players operating in the Global Web Application Firewall Market include- Imperva and others.

Segmentation of the Global Web Application Firewall Market: