Web Application Firewall Market Trends, Industry & Size 2030

Report Description

The global web application firewall market size is anticipated to expand at a CAGR of 19.17% and is projected to reach USD 16.1 billion during the forecast period, between 2021 and 2028. Rising penetration of internet of things (IoT), artificial intelligence (AI), and machine learning are boosting the global web application firewall market.

A Web application firewall (WAF) is a specific form of hardware and software solution that protects the application layer by filtering, monitoring, and blocking HTTP traffic to & from a web service. A web application firewall is specifically designed to analyze each HTTP request at the application layer and control the network traffic. It protected from various attacks like SQL injection, DT, XSS, RFI, and cross-site scripting by establishing a secure barrier between the system and the external environment.

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WAF identifies and blocks attempts made by exploiters by shortening the window exposure. The WAF can be hosted, networked, or cloud-based and is frequently deployed through reverse proxy servers and placed in front of one or more websites and applications. However, these applications allow businesses to communicate with their customers, partners, employees, and other IT systems.   

Market Trends, Drivers, Restraints, and Opportunities

• The easy availability of information on the web and the growing importance of web applications are boosting the market. 
• Growing adoption of web application firewalls among various industry verticals such as BFSI, education, government and defence, healthcare, and IT and telecommunication are fueling the market.
• Increasing adoption of a cloud-based solution and increasing concern related to cyber-attack and cookie poisoning activities is driving the market.
• The lack of skilled professionals for managing web applications firewalls and the competition related to integrate unified threat management (UTM) solutions is hindering the market. 
• High costs associated with the web application firewall and performance complexities in the outgoing and incoming traffic applications are restricting the market.  
• Stringent regulatory frameworks imposed by the government for industrial compliance are hampering the market. 
• Growing focus by the manufacturers to offer technologically innovative products are creating opportunities in the market. 
• The venture capitalists are heavily investing in research activities to develop improved solutions with enhanced capabilities. Thus, creating opportunities in the market. 

Scope of Web Application Firewall Market Report

The report on the global web application firewall market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Web Application Firewall Market Segment Insights

Cloud-based segment to hold significant market share

In terms of components, the global web application firewall market is segmented into solutions and services. The solution segment is further sub-segmented into hardware appliances, virtual appliances, and cloud-based. The services segment is further sub-segmented into professional services and managed services. The professional segment is furthermore segregated into consulting, support and maintenance, training and education, and system integration. The solution segment held a considerable share of the market in 2020, owing to the adoption of a cloud-based solution for protecting data from cyber threats and vulnerabilities.

Cloud-based web application firewall (WAF) safeguards the network when users of their virtual private network (VPN). It also offers various capabilities to the user such as access control, threat intelligence, malware detection, distributed denial of service (DDoS) mitigation, bot detection & enforcement, and application program interface (API). Moreover, cloud-based deployment offers a cost-effective solution to the users by delivering a better experience and scalability. 

Growing adoption of web application firewall in small, medium & large-sized organisation

On the basis of organizations, the global web application firewall market is segregated into small and medium-sized enterprises (SMEs) and large enterprises. The growing adoption of web application firewalls in both small & medium and large-sized enterprises is driving the market. The web application firewall ensures secure access to the organization's networking devices.

Moreover, the growing demands for WAF-based professional services by organizations for facilitating the implementation and use of WAF solutions. These services include planning, designing, upgrading, and consulting in an organization. These factors are anticipated to propel the segment during the forecast period. 

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Healthcare segment to grow at a significant pace in the near future

Based on industry verticals, the web application firewall market is segregated into banking, financial services, and insurance (BFSI), retail, IT and telecommunications, government and defense, healthcare, energy and utilities, education, and others. The healthcare segment is expected to hold a significant share of the market during the forecast period, due to the growing adoption of connected medical devices with Wi-Fi enabled solution.

The web application firewall is the first defence for every healthcare network. It helps to protect electronic health records (EHRs) and protected health information from cyberattacks. Moreover, the increasing uses of web application firewall in healthcare sector for monitoring patient’s health and collecting patient’s data. However, the healthcare firewall needs to cover more over the firewalls from protecting the data from the hackers.

North America dominates the market

In terms of regions, the global web application firewall market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America constituted a significant share of the market in 2020, due to the rising number of security breaches and the presence of major cyber security vendors. The growing adoption of connected devices, advanced technology, and infrastructure in countries like United States and Canada are driving the market.

Moreover, the growing awareness related to the cyber threats and increasing concern for protecting financial and sensitive data. The increasing government intervention to regulate IT security, enhance data security infrastructure, and adopt automation tools to protect network infrastructure. The market in the Asia Pacific is projected to expand at a significant CAGR during the forecast period, due to the growing adoption of web application firewall solutions by various SMEs in countries like China, Japan, India, New Zealand Singapore, and Australia.

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