Web Application Firewall Market Will Record an Upsurge in Revenue during 2022-2027
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.
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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