Web Application Firewall Global Market Report 2024

The global web application firewall market has grown rapidly in recent years. It will grow from $5.04 billion in 2023 to $5.98 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth observed in the historical period can be attributed to several factors, including the maturation of cybersecurity practices, increased awareness and education about cybersecurity threats, heightened competition and innovation among vendors in the web application firewall space, the continuous development of web applications, and the growing trend of remote work. These factors collectively contributed to the expansion of the web application firewall market during the historical period.

The global web application firewall market is expected to see rapid growth in the next few years. It will grow to $11.64 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The anticipated growth in the forecast period can be attributed to several factors, including the demand for scalable solutions, industry-specific requirements for application security, the adoption of agile development practices, and the increasing complexity of applications. Major trends expected in the forecast period include a focus on customization and scalability in web application firewall solutions, the growing importance of application security in various industries, integration into DevOps processes for streamlined development and security, considerations for security in the context of a remote workforce, and advancements in web application firewall technologies. These trends reflect the evolving landscape of web application security, aligning with the changing needs and challenges in the digital environment.

The anticipated surge in cyberattacks and data breach incidents is poised to drive the growth of the web application firewall market in the foreseeable future. These malicious attempts, aimed at unauthorized access, disruption, or control of information systems, have seen a notable uptick. Reports from Positive Technologies, a Russia-based cybersecurity firm, indicate a 17% increase in cyberattacks during Q1 2021 compared to Q1 2020, with a further 1.2% rise from Q4 2020. Additionally, IBM's 2022 Cost of a Data Breach report highlights a 2.6% escalation in the average cost of a data breach, climbing from USD 4.24 million in 2021 to USD 4.35 million in 2022. Consequently, this surge in cyber threats significantly contributes to the expanding demand for web application firewalls as a protective measure.

The upsurge in e-commerce activities is set to be a driving force behind the growth of the web application firewall market. As e-commerce, the electronic buying and selling of goods and services, continues to flourish, the need for robust cybersecurity measures intensifies. Web Application Firewalls (WAFs) play a crucial role in safeguarding online platforms, ensuring secure transactions, and protecting sensitive customer data. For instance, recent data from The Census Bureau of the Department of Commerce indicates a 2.1% increase in U.S. retail e-commerce sales in the second quarter of 2023, totaling $277.6 billion. This rise in e-commerce activities directly fuels the expansion of the web application firewall market.

A significant trend observed in the web application firewall market is technological advancement. Key players operating in this space are adopting sophisticated technologies, such as cloud-based website firewalls and advanced WAF features. These advancements incorporate behavioral analytics, proactive bot defense, and application-layer data encryption. For example, StackPath, a US-based edge computing platform provider, unveiled the StackPath Web Application Firewall (SP//WAF) subscription in May 2022. This offering introduces monthly WAF usage and enhanced access to specialized features, including advanced rule extensions, professional services, and comprehensive technical support. The SP//WAF's potent threat-detection capabilities cater to businesses of varying sizes, effectively addressing their unique security and operational management needs in a cost-efficient manner.

Prominent players within the web application firewall market are strategically opting for partnerships to effectively address cybersecurity challenges. These strategic collaborations involve leveraging the strengths and resources of multiple entities to achieve mutual advantages and success. An illustrative instance is the partnership forged in April 2021 between Cloudbric, a South Korea-based provider of cloud-based web application firewall (WAF) solutions, and Professtama Development Group, an Indonesia-based security solutions provider. This collaboration aims to enhance Professtama's cybersecurity capabilities while fostering a collaborative effort that potentially expands Cloudbric's client base within the region.

In a significant development during September 2022, Vista Equity Partners, a US-based investment firm, along with Evergreen Coast Capital Corp, a US-based private equity firm, completed the acquisition of Citrix Systems for a substantial sum of $16.5 billion. This acquisition envisions the amalgamation of Citrix Systems with TIBCO Software, strategically leveraging the unique strengths of both entities to drive innovation and transformation in the enterprise software landscape. Citrix Systems, a prominent US-based company specializing in cloud computing, virtualization technology, and providing server and web application firewall solutions, aligns with TIBCO Software to foster an enhanced operational framework and product innovation within the sector.

Major companies operating in the web application firewall market report are Imperva Inc., Akamai Technologies Inc., Barracuda Networks Inc., Citrix System Inc., Cloudflare Inc., F5 Networks Inc., Fortinet Inc., Radware Ltd., Qualys Inc., Ergon Informatik AG, Amazon Web Services Inc., Nsfocus Information Technology Co. Ltd., Rohde & Schwarz GmbH & Co. KG, Microsoft Corporation, AppTrana by Indusface, Czar Securities Private Limited, Fastly Inc., Penta Security Systems Inc., PerimeterX, Signal Sciences Corporation, SiteGuard, SiteLock LLC, Sophos Group, Sucuri Inc., Trustwave Holdings Inc., Virsec Systems, Wallarm Inc.

Asia-Pacific was the largest region in the web application firewall market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the web application firewall market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the web application firewall market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main components of web application firewall systems include both solutions and services. Web application firewall solutions are designed to filter out malicious HTTP traffic, preventing the compromise of critical data from the application server. These solutions can be custom-built or configured to address specific customer needs and are deployed either on-premise or in the cloud. They find application in a variety of industries, including banking, financial services, insurance, retail, IT and telecommunications, government and defense, healthcare, energy and utilities, education, and others.

This report provides web application firewall market statistics, including web application firewall industry global market size, regional shares, competitors with a web application firewall market share, detailed web application firewall market segments, market trends and opportunities, and any further data you may need to thrive in the web application firewall industry. This web application firewall market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The web application firewall market includes revenues earned by entities by providing negative security, positive security, and hybrid security for web services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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