Web Application Firewall Market Size Worth $23.21 Billion By 2030 | CAGR: 18.7%

The global web application firewall market size is expected to reach USD 23.21 Billion by 2030, according to a new study by Polaris Market Research. The report "Web Application Firewall Market Share, Size, Trends, Industry Analysis Report, By Component (Solutions (Hardware Appliances, Virtual Appliances, Cloud-based), Services); By Organization Size; By Vertical; By Region; Segment Forecast, 2022-2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Web applications' ability to simplify corporate operations, expand and grow rapidly, and achieve goals more efficiently. Web applications improve customer service for potential customers with the company, wherever they may be and at any time. Due to the significant reliance on web applications for many of their business activities and functions, WAF solutions have been used more frequently by organizations. Therefore, the rise in the impact of online applications is one of the key factors anticipated to propel the global market growth during the forecast period.

Furthermore, the increased adoption of technological advancements such as IoT, AI, etc., and government regulation for data privacy would fuel the global market. Most IoT technology and developer businesses are implementing and recommending cutting-edge security solutions, including web application firewalls (WAF), to secure their corporate infrastructure to handle such circumstances, driving demand for the global market. The availability of information at low cost and the variety of web and web-based services contribute to the increased reliance on the global market for internal information system integration, propelling the industry's expansion.

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Government data security and privacy rules are becoming stricter, driving demand for web application firewall software. Businesses invest plenty of money in data security solutions to protect their sensitive data from online threats. A WAF program is being adopted by businesses to secure their web applications due to growing worries over data breaches. These are mostly used by businesses like banking platforms and online retailers to secure their operations and safeguard their customers' critical data.

In addition, the market is also being stimulated by the expanding usage of firewalls in the healthcare industry to block unauthorized access to crucial healthcare networks and electronic patient data.

The cloud-based WAF solutions provide businesses with a wide range of services, such as malware detection, access control, caching, threat intelligence, and bot detection and enforcement. Furthermore, the market expansion is fueled by advancements in the information technology (IT) infrastructure and rising R&D spending by top companies in the industry.

Additionally, a web application firewall improves productivity and gives users a seamless online experience. It protects web content from various assaults, including cross-site scripting (XSS) and SQL injection attacks, driving the market's growth.

Web Application Firewall Market Report Highlights

• Solution component accounted for major revenue because of characteristics such as bot identification and enforcement, Distributed Denial of Service (DDoS) mitigation, caching, API security, threat intelligence, access control, and malware detection.
• Large Enterprises category is expected to grow at a high CAGR over the forecast period as they utilize many IoT and web applications vulnerable to assaults; large organizations are among the early adopters of web application firewall solutions.
• Government & defense categories are anticipated to have the largest market share. The use of WAF solutions in the government and defense sectors has grown as a result of the deployment of eGovernance by government agencies in several countries across the world.
• North America had a major share and is estimated to witness lucrative growth due to increased security breaches and government rules concerning IT security. Furthermore, government organizations and businesses are working to improve their data security infrastructure, which will help the industry develop even more.

• The global players include Imperva, Akamai, Barracuda, Citrix, Cloudflare, Penta security systems, Trustwave, NSFOCUS, Sophos, F5 networks, Fortinet and others.

Polaris Market Research has segmented the web application firewall market report based on component, organization size, vertical, and region:

Web Application Firewall, Component Outlook (Revenue - USD Million, 2018 - 2030)

• Solutions
  • Hardware appliances
  • Virtual appliances
  • Cloud-based
• Services
  • Managed Services
  • Professional Services

Web Application Firewall, Organization Size Outlook (Revenue - USD Million, 2018 - 2030)

• Large Enterprises
• Small & Medium-Sized Enterprises

Web Application Firewall, Vertical Outlook (Revenue - USD Million, 2018 - 2030)

• Banking, Financial Services & Insurance
• Retail
• IT & Telecommunications
• Government & Defense
• Healthcare
• Energy & Utilities
• Education
• Other Verticals

Web Application Firewall, Regional Outlook (Revenue - USD Million, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa