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| ✷ Report Code: A02426 | Mar 2022 | Pages: 210 | ||
| Tables: 170 | Charts: 74 |
| |
The global web application firewall market size was valued at $3.9 billion in 2020, and is projected to reach $25.6 billion by 2030, growing at a CAGR of 20.88% from 2021 to 2030.
Over the last two years, the COVID-19 outbreak has fueled the demand for web application firewall solutions due to unprecedented circumstances and cyber security requirements. For instance, a number of companies are shifting their security efforts toward endpoint security for the work from home systems. In addition, the security teams within the enterprises have no resources to address various web application security issues; thus, boosting the demand for effective web application firewall solutions.
Web application firewall (WAF) is designed to enhance security level for HTTP conversations or web conversations. It generally follows a set of rules to identify and block threats that may harm a system. It is also used to control and monitor network traffic on web-enabled applications. This firewall establishes a relatively secure barrier between a system and external environment. It provides web protection at the application layer of open system interconnection model from many attack types, such as XSS, SQL injection, cross-site scripting, DT, and RFI. Major growth drivers of the market include increased market for cloud-based solutions and stringent industry standards and regulations.
Key driving factors of the WAF market include growth is demand for cloud-based solutions, increase in number of cyber-attack activities, stringent industry standards & regulatory compliance, increase in application areas, and dearth of trained professionals. These factors have significantly contributed toward web application firewall market growth, and are anticipated to impact the market growth during forecast period.
The web application firewall market is segmented on the basis of component, deployment model, organisation size, end user, and region. Depending on component, the market is divided into solution and services. On the basis of deployment model, the market is segmented into on-premise and cloud. On the basis of organisation size, it is divided into large enterprises and small and medium enterprises. On the basis of end users, it is divided into BFSI, healthcare, IT & telecom, manufacturing, government, retail & E-commerce, and others. On the basis of region, the WAF market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In 2020, on the basis of deployment model, the on-premise segment dominated the web application firewall market size, and is expected to maintain its dominance in the upcoming years. The impact of increased threat from advanced cyber-attack such as ransomware have increased adoption of the on-premise web application firewall solutions among large enterprises. On-premises deployment mode is most prevalent with large enterprises as it involves significant investments to implement and organizations need to purchase interconnected hardware, servers, and software to manage the system. This model is appropriate for specific applications such as financial and health records with critical data that entail large data transfers and operations. However, the cloud segment is prohected to witness higest growth rate during the forecast period as the origination of cloud computing has reduced cost constraints for most enterprises, which makes the latter most preferred choice of deployment. Â
On the basis of organization size, the large enterprises segment has dominated the global market, and is projected to keep its hold on the web application firewall market size in the next years. Moreover, incorporation of overall security for IT assets requires network as well as WAF security. The need to safeguard data and rise in awareness regarding security events boost growth of the market across large enterprises. Key factors such as ease of deployment, presence of sandboxing technologies, and advanced detection capabilities increase the adoption of WAF firewall among large enterprises. Further, advantages of WAF firewall over next generation network firewall (NGFW) and intrusion prevention systems (IPS) to offer advanced protection capabilities for internal business-critical applications, internet facing websites, and web services is expected to drive the market growth during the forecast period.
North America is the leader in the global web application firewall market share, in terms of technological advancements and adoption. It possesses well-equipped infrastructure and the ability to afford web application firewall solutions. Furthermore, rise in investments in the defense sector, along with technological advancements in the telecommunication industry, is expected to drive the market growth during the forecast period. Government regulations regarding the data security drive the web application firewall (WAF) market. Services such as security information and cloud application are expected to drive the market. In addition, presence of industry leaders such as Imperva, F5, Akamai, Citrix, barracuda, Fortinet, and diversified product offering further fuel the market in this region. Furthermore, growth associated with artificial intelligence and web application adoption is expected to create lucrative opportunities for the market players. In addition, introduction of new industry players further supports the market growth during the forecast period. However, Asia-Pacific is expected to be the fastest growing regional segment during the forecast period, with the highest CAGR.
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COVID-19 impact analysis
The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. Over the last two years, the COVID-19 outbreak has fueled the demand for web application firewall solutions due to unprecedented circumstances. For instance, a lot of companies are shifting their security efforts toward endpoint security for the work from home systems. In addition, the security teams within the enterprises have no resources to address various web application security issues; thus, boosting the demand for effective web application firewall solutions.
In addition, the data center services, cloud computing, and other online support sectors, on the other hand, benefited greatly from market changes. The market for web application firewall solutions is expected to witness a major increase in end-user spending in the future.
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Top impacting factors  Â
Increase in market for cloud-based solutions
Rise in adoption of cloud-based technology along with usage of social media platforms drives web application firewall market growth. Presently, cloud technology is adopted widely amongst all businesses, which provide enterprises with affordable security solutions. Cloud computing allows the model to function from anywhere and anytime. In addition, implementation of cloud enables organizations to combine supplementary infrastructure technologies such as software-defined perimeters to create robust and highly secure platforms. Hence, rise in adoption of cloud-based solutions drives growth of the web application firewall market share.
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Stringent industry standards and regulations Â
Cyber security standards and regulations are commonly applicable to all organizations, regardless of organization size and industry. As cyber-attacks have become progressively dominant, regulatory expectations for robust and comprehensive security management is essential for all organizations. For instance, financial organizations in the U.S. need to follow Gramm–Leach-Biley Act, the Bank Secrecy Act, and the Sarbanes-Oxley Act. In addition, banks and other institutions are regularly scrutinized for adherence to rules. This factor is expected to drive the market growth during web application firewall market forecast period.
Web Application Firewall Market Report Highlights
| Aspects | Details |
|---|---|
| By Deployment Model |
|
| By Component |
|
| By Organization Size |
|
| By End User |
|
| By Region |
|
| Key Market Players | Citrix Systems, Inc., Applicure Technologies Ltd., Akamai Technologies, Inc., Qualys, Inc., Cloudflare, Inc., F5 Networks, Inc., Fortinet, Inc., Radware Ltd., Barracuda Networks, Inc., Imperva, Inc. |
The current business scenario exhibits surge in use of web application firewall across various applications such as healthcare, banking & financial, defense, IT & telecom, manufacturing, and others. In accordance with insights of leading CXOs, utilization of web application firewall among different end-use industries has increased, owing to rise in adoption of cloud-based solutions as well as the need to optimize business operations for enhanced security solutions. Moreover, this market gains significant acceptance from commercial users and large enterprises to improve business performance and meeting expectations of customers by analyzing varied approaches.
Adoption of cloud security solutions has increased among both, large enterprises and SMEs, owing to rapidly evolving infrastructure of application delivery structure and increase in acceptance of cloud solutions that facilitate cost optimization benefits and business expansion opportunities through the use of cloud services. Cloud-based deployment model does not involve capital cost and is low on maintenance requirements; hence, is most preferred by SMEs. In addition, increase in market for machine learning technologies support growth of this market. Industry players are focused toward introduction of advanced solutions to leverage market demands
According to CXOs, increase in economic strength of developing nations such as China, India, Indonesia, and Thailand is expected to provide lucrative opportunities for the market. North America is expected to dominate the market during the forecast period and emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities.
A. The web application firewall market was valued at $4,763.5 million in 2020.
A. BFSI followed by IT & telecom and retail sector are the prominent end users in the Web Application Firewall Market.
A. The significant trends in web application firewall (WAF) market includes rapid adoption of Cloud-Based WAFs and introduction of artificial intelligence & machine learning powered WAFs
A. North America region dominated the global web application firewall market.
A. Akamai Technologies, Inc., Barracuda Networks, Inc., Citrix Systems, Inc., F5 Networks, Inc., Imperva, Inc., Fortinet, Inc., Applicure Technologies Ltd., Qualys, Inc., Cloudflare, Inc., and Radware Ltd.
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