Web Application Firewall Market size is estimated to grow from USD 5.8
billion in 2022 to USD 13.8 billion by 2027, at a Compound Annual Growth Rate
(CAGR) of 18.9% during the forecast period according to report published by
MarketsandMarkets. The WAF market is fuelled by the increasing
importance of web applications. Moreover, the government regulations and need
for compliance plays a key role in driving the growth of the WAF market.
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By Component, the solutions segment to hold a
larger market size during the forecast period
The solutions segment is
estimated to account for a larger market share among components. WAF solutions
offer various features such as web application attack protection, deployment
option, protocol validation, virtual patching, active and passive
authentication, URL rewriting, content routing, cookie signing and encryption,
DDoS prevention, data leak prevention, and web server and application signature
security. The solutions segment is further categorized into hardware
appliances, virtual appliances, and Cloud-based.
By Professional Services, the training &
education subsegment to grow at the highest CAGR during the forecast period
The training &
education segment is expected to have the highest CAGR growth during the
forecast period. Training & education services aim at providing
comprehensive training sessions related to the identification and rectification
of critical network infrastructure vulnerabilities. They help in guiding the
security team members and developers to understand the key findings and impact
of the vulnerabilities.
By Vertical, the government & defense
segment to account for the largest market size during the forecast period
The government &
defense segment is expected to hold the largest share in the WAF market. The
implementation of eGovernance by government agencies in several countries
across the globe has led to increased adoption of WAF solutions in the
government and defense segment. Government and defense agencies handle highly
secure and private data of individuals, departments, processes, and agencies.
Thus, cybersecurity is one of the most important aspects of the government
vertical.
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By Region, Asia Pacific to record the highest
growth during the forecast period
Asia Pacific is one of the fastest-developing
regions globally, owing to the rapid economic developments, globalization,
digitalization, and the increased proliferation of the internet, making the
region highly profitable for the WAF market. Countries across this region have
a large number of SMEs using traditional defense mechanisms, making advanced
and sophisticated threats hard to detect. Therefore, security vendors in this
region focus on innovations in their product lines. Factors such as growing
awareness about the benefits of WAF products, increasing business complexities,
and augmented internet users are expected to push SMEs in the region to adopt
advanced WAF solutions and services.
Market Players
Major vendors in the WAF market include Imperva (US), Akamai
(US), Barracuda (US), Citrix (US), Cloudflare (US), Rohde & Schwarz
(Germany), Ergon Informatik (Switzerland), F5 Networks (US), Fortinet (US), and
Radware (Israel).
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