The latest report by IMARC Group, titled “Web Application Firewall Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global web application firewall market size reached US$ 4.1 Billion in 2021. A web application firewall (WAF) refers to hardware- or software-based solutions deployed via a proxy for monitoring the network traffic on web-enabled applications. They are used for filtering and blocking HTTP traffic to and from a web application to prevent attacks that may include cross-site scripting and forgery, file inclusion, SQL injection, and improper system configuration. These firewalls also assist in establishing a secure barrier between the computer and the external environment. In recent years, web application firewalls have gained traction as they are essential in filtering an information source through the process of whitelisting or blacklisting. This helps in offering agile protection to the applications against enhanced visibility of web traffic and web attacks at an affordable cost.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Web Application Firewall Market Trends:
The growing occurrence of cyberattacks and internet frauds on the global level represents the primary factor driving the market. WAF technologies are widely opted by organizations to prevent instances of malware, phishing and security threats. The market is further catalyzed by the various initiatives undertaken by the governments of different countries to create awareness regarding the importance of cybersecurity. The increasing adoption of cloud-based variants of WAF solutions is acting as another growth-inducing factor as they secure crucial data and the overall network, even when the user is offline. Besides this, there has been a rise in the utilization of WAF solutions in the healthcare sector to avoid unauthorized access to electronic patient records and crucial healthcare networks. Moreover, considerable improvements in the information technology (IT) infrastructure, the growing use of virtual cloud resources, and extensive research and development (R&D) activities conducted by several leading players are some of the other factors providing a positive outlook to the market. On account of these factors, the market is expected to grow at a CAGR of 17.5% during 2022-2027.
- Based on the deployment, the market has been bifurcated into cloud-based and on-premises.
- On the basis of the organization size, the market has been segregated into large, and small and medium enterprises.
- The market has been categorized based on the service into professional and managed services.
- On the basis of the end use industry, the market has been classified into government and defense, BFSI, retail, healthcare, IT and telecom, energy and utilities, manufacturing, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Akamai Technologies Inc., Applicure Technology Ltd., Barracuda Networks Inc., Citrix Systems Inc., Cloudflare Inc., Ergon Informatik AG, F5 Networks Inc., Fortinet Inc., Imperva Inc., Nsfocus Information Technology Co. Ltd., Penta Security Systems Inc. (Finleap), Qualys Inc. and Radware Ltd.
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