The latest report by IMARC Group, titled “Web Application Firewall Market Report by Deployment (Cloud-based, On-premises), Organization Size (Large Enterprises, Small and Medium Enterprises), Service (Professional services, Managed services), End Use Industry (Government and Defense, BFSI, Retail, Healthcare, IT and Telecom, Energy and Utilities, Manufacturing, and Others), and Region 2024-2032“, The global web application firewall market size reached US$ 5.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.2 Billion by 2032, exhibiting a growth rate (CAGR) of 13.9% during 2024-2032.
A vital defense mechanism for online security, a web application firewall (WAF) shields web applications from a multitude of cyber threats and weaknesses. Positioned between the web application and potential cyber attackers, it persistently scrutinizes and filters incoming online traffic. By examining HTTP requests and responses, WAFs detect and block any dubious or malicious content. These firewalls are indispensable for protecting web applications from frequent attacks like SQL injection, cross-site scripting (XSS), and cross-site request forgery (CSRF). They accomplish this by enforcing a set of predefined security protocols and guidelines to incoming traffic, permitting only authentic requests to proceed while blocking or neutralizing potentially harmful ones.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/web-application-firewall-market/requestsample
Web Application Firewall Market Trends and Drivers:
The widespread adoption of digital technologies is a key catalyst across various industries. Companies are increasingly turning to web-based solutions to optimize their operations, improve customer interactions, and stay ahead in the digital landscape. These solutions empower businesses to revamp their processes and maintain relevance. Moreover, the rapid growth of mobile devices has created a surge in demand for web applications that can adapt to different devices, allowing companies to broaden their reach and accessibility. The popularity of cloud-hosted web applications has also soared, offering benefits such as scalability, flexibility, and reduced costs. As a result, businesses are shifting to cloud-based infrastructure to deploy and manage their web applications, thereby minimizing infrastructure expenditure and enhancing performance. The e-commerce sector, particularly, has experienced unprecedented growth, driven largely by the COVID-19 pandemic. Web applications play a crucial role in facilitating online transactions, seamless user experiences, and driving the demand for e-commerce platforms. Consequently, the escalating threat of cyber-attacks has prompted businesses to prioritize web application security, seeking robust solutions with built-in security features to safeguard sensitive data and user information, thereby fueling the demand for secure development practices. Additionally, the integration of web applications into IoT devices and systems is unlocking new opportunities for businesses to collect and analyze data, streamline operations, and enhance user experiences.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Deployment:
- Cloud-based
- On-premises
On-premises WAF represents the largest market segment as it helps prevent the risk of threats from advanced cyber-attacks or ransomware.
Breakup by Organization Size:
- Large Enterprises
- Small and Medium Enterprises
WAF finds applications in large enterprises on account of their increasing focus on ensuring secure access to network devices.
Breakup by Service:
- Professional services
- Managed services
WAF is extensively used for professional services as it protects websites and other web applications by inspecting and filtering traffic between the website and visitors accessing the site.
Breakup by End Use Industry:
- Government and Defense
- BFSI
- Retail
- Healthcare
- IT and Telecom
- Energy and Utilities
- Manufacturing
- Others
WAF is employed in the BFSI industry to prevent unauthorized access to the confidential data of customers and eliminate the risk of scams and cyber-attacks.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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.
- Radware Ltd.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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