Global $9+ Bn Web Application Firewall Market is Expected to Grow at a CAGR of over 16.5% During 2022-2028 | Vantage Market Research


WASHINGTON, May 20, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Web Application Firewall Market finds that the increasing instances of web attacks across the globe, is expediting market growth. Primarily driven by growing demand from the healthcare sector along with other industry verticals, the total Global Web Application Firewall Market is estimated to reach USD 9.57 Billion by the year 2028 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 16.5%.

The Global Web Application Firewall Market revenue stood at a value USD 3.82 Billion in the year 2021.

Furthermore, the increasing number of connected devices is also anticipated to augment the growth of the Global Web Application Firewall Market, states Vantage Market Research, in a report, titled “Web Application Firewall Market Size, Share & Trends Analysis Report by Component (Solutions, Services), by Solution (Hardware Appliances, Virtual Appliances, Cloud-Based), by Service (Professional Services, Managed Services), by Professional Service (Consulting, Support and Maintenance, Training and Education, System Integration), by Organization Size (Small and Medium-Sized Enterprises (SME), Large Enterprises), by Industry Vertical (Banking, Financial Services and Insurance (BFSI), Retail, IT and Tele-Communications), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Market Dynamics:

Increasing Instances of Web Attacks to Drive the Market Growth

The increasing instances of web attacks across the globe are anticipated to augment the growth of the Web Application Firewall Market within the estimated period. According to the 2022 Cyber Security Report by Checkpoint, the number of cyber-attacks which occurred against corporate networks was projected to increase by 50% in 2021 as compared to 2020. It further estimated that the education and research segment was the most targeted segment among other sectors, with establishments facing an average of 1,605 weekly attacks. Also, the software vendors experienced the largest year-over-year growth, with an increase of 146%. This is attributable to the lack of security assistance, system vulnerabilities along with rapidly accelerated digital transformations. This is expected to drive the demand for deployment of web application firewalls in the systems in order to offer an effective security solution that fortifies website security and strengthens the overall security posture.

Key Insights & Findings from the Report:

  • According to our primary respondents’ research, the Web Application Firewall market is predicted to grow at a CAGR of roughly 16.5% during the forecast period.
  • The Web Application Firewall market was estimated to be worth roughly USD 3.82 Billion in 2021 and is expected to reach USD 9.57 Billion by 2028; based on primary research.
  • On the basis of region, Asia Pacific is projected to dominate the worldwide Web Application Firewall market.

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Segmentation of the Global Web Application Firewall Market:

  • Component
    • Solutions
    • Services
  • Solution
    • Hardware Appliances
    • Virtual Appliances
    • Cloud-Based
  • Service
    • Professional Services
    • Managed Services
  • Professional Service
    • Consulting
    • Support and Maintenance
    • Training and Education
    • System Integration
  • Organization Size
    • Small and Medium-Sized Enterprises (SME)
    • Large Enterprises
  • Industry Vertical
    • Banking
    • Financial Services and Insurance (BFSI)
    • Retail
    • IT and Tele-Communications
    • Government and Defense
    • Healthcare
    • Energy and Utilities
    • Education
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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Increasing Demand from Healthcare Sector to Stimulate Market Growth

The increasing demand from the healthcare sector along with other industry verticals is anticipated to augment the growth of the Web Application Firewall Market in the years to come. As per the 2021 Cybersecurity Annual Report by BD, one of the largest global medical technology companies, in 2020 alone, cyberattacks against healthcare endpoints increased by 9,851 over the previous year, and nearly 28% of the cyberattacks executed against healthcare entities were ransomware attacks. Firewalls help defend EHRs (Electronic Health Records) and protected health information (PHI) from malware and other cyber-attacks and are the first line of defence for any healthcare network. The network is used by more than only computers and cellphones in healthcare institutions. Wi-Fi enabled connected medical devices use the network to collect patient data and monitor health. While hackers may not be able to obtain the information they require directly from linked medical equipment, they can use remote network access to gain access to the entire network. Because medical equipment often lack traditional network interfaces, they are frequently neglected as a cyber-security vector. Owing to the importance of EHRs and clinical data, healthcare firewalls must cover more ground than firewalls in other industries, as there are multiple avenues for hackers to obtain illegal access to the network. Thus, there is an increase in demand for firewalls from the healthcare sector.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the information & communications technology industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

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The report on Web Application Firewall Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

North America Dominated the Global Web Application Firewall Market

North America held the largest market share in 2021. This is attributable to the presence of security vendors and security breach incidents in the region. Furthermore, the region is an early adopter of cybersecurity technology adoption and infrastructure which is also likely to support the growth of the market. Additionally, the growing percentage of connected devices, new forms and varieties of cyber-attacks is also expected to support the regional growth of the market in near future.

List of Prominent Players in Web Application Firewall Market:

  • Imperva
  • Akamai Technologies
  • Barracuda Networks
  • Citrix Systems
  • Cloudflare
  • Deny All
  • Ergon Informatik
  • F5 Networks
  • Fortinet
  • Penta Security Systems
  • Radware
  • Trustwave NSFOCUS

Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Web Application Firewall Market Size, Share & Trends Analysis Report by Component (Solutions, Services), by Solution (Hardware Appliances, Virtual Appliances, Cloud-Based), by Service (Professional Services, Managed Services), by Professional Service (Consulting, Support and Maintenance, Training and Education, System Integration), by Organization Size (Small and Medium-Sized Enterprises (SME), Large Enterprises), by Industry Vertical (Banking, Financial Services and Insurance (BFSI), Retail, IT and Tele-Communications), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/web-application-firewall-market-283398

Recent Developments:

February, 2022: Cloud bric, a cloud security company, announced the launch of a web application firewall management service (Managed Rulesets for AWS WAF) optimized for the Amazon Web Services (AWS) environment.

April, 2021: Cloudflare announced the launch of new web application firewall. The latest engine provides better performances and integrates with other Cloudflare products.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?
  • Which are the top five players of the Web Application Firewall Market?
  • How will the Web Application Firewall Market change in the upcoming six years?
  • Which application and product will take a lion’s share of the Web Application Firewall Market?
  • What is the Web Application Firewall market drivers and restrictions?
  • What will be the CAGR and size of the Web Application Firewall Market throughout the forecast period?

This market titled “Web Application Firewall Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

ParameterDetails
Market Size Provided for Years2016-2028
Base Year2021
Historic Years2016-2020
Forecast Years2022-2028
Segments Covered
 • Component
     • Solutions
     • Services

 • Solution
     • Hardware Appliances
     • Virtual Appliances
     • Cloud-Based

 • Service
     • Professional Services
     • Managed Services

 • Professional Service
     • Consulting
     • Support and Maintenance
     • Training and Education
     • System Integration

 • Organization Size
     • Small and Medium-Sized Enterprises (SME)
     • Large Enterprises

 • Industry Vertical
     • Banking
     • Financial Services and Insurance (BFSI)
     • Retail
     • IT and Tele-Communications
     • Government and Defense
     • Healthcare
     • Energy and Utilities
     • Education
     • Others

 • Region
     • North America
     • Europe
     • Asia Pacific
     • Latin America
     • Middle East & Africa

Region & Counties Covered
 • North America
     • U.S.
     • Canada
     • Mexico

 • Europe
     • U.K
     • France
     • Germany
     • Italy
     • Spain
     • Rest Of Europe

 • Asia Pacific
     • China
     • Japan
     • India
     • South Korea
     • South East Asia
     • Rest Of Asia Pacific

 • Latin America
     • Brazil
     • Argentina
     • Rest Of Latin America

 • Middle East & Africa
     • GCC Countries
     • South Africa
     • Rest Of Middle East & Africa

Companies Covered
 • Imperva
 • Akamai Technologies
 • Barracuda Networks
 • Citrix Systems
 • Cloudflare
 • DenyAll
 • Ergon Informatik
 • F5 Networks
 • Fortinet
 • Penta Security Systems
 • Radware
 • Trustwave NSFOCUS

Report CoverageMarket growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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