Vancouver, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The global web application firewall market size was USD 4.95 Billion in 2021 and is expected to register a revenue CAGR of 17.5% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of web application firewall for secure website browsing is a major factor driving market revenue growth. Globally, a large number of internet users using several web applications for e-commerce, banking, content watching, sharing, and providing end to end security of data acquisition is a major challenge.
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Many third-party advertisements are scraping user data and making pattern to show recommended products or services. These data can be stolen and hacked from third party application servers. Large number of enterprise as well as individual users are using web application firewall protection to safeguard their privacy. Cyber security and information technology professionals are highly recommending web application firewall, which is positively driving growth of the market.
According to a leading data security company, WannaCry ransomware attack hit around 230,000 computers globally. WannaCry ransomware assault has a significant financial impact around the world, which is accounted for around USD 4 billion loses. These instances are accelerating awareness of enterprise users, which in turn, is driving growth of the market. However, deployment cost is a major restraining factor of the web application firewall market. In addition, web application firewall deployment impacts direct costs of an organization owing to mitigate issues, repair, cleanse infected systems, loss of income due to system loss or degradation, and other expenses, as well as skilled resources are required to manage activities of the deployments.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 4.95 Billion |
| CAGR (2022–2030) | 17.5% |
| Revenue Forecast to 2030 | USD 21.33 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Components, deployment mode, organization size, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Cloudflare, Inc., Oracle Corporation, Microsoft Corporation, Amazon Web Services, Inc., Fortinet, Inc., Lumen Technologies, Inc., Array Networks, Inc., Penta Security Systems Inc., Wallarm Inc., and Reblaze Technologies Ltd. |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global web application firewall market is fragmented, with many players accounting for a majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pressure washers. Some major players included in the global web application firewall market report are:
- Cloudflare, Inc.
- Oracle Corporation
- Microsoft Corporation
- Amazon Web Services, Inc.
- Fortinet, Inc.
- Lumen Technologies, Inc.
- Array Networks, Inc.
- Penta Security Systems Inc.
- Wallarm Inc.
- Reblaze Technologies Ltd.
Strategic Development
- On November 2022, Fortinet, Inc., a U.S.-based multinational corporation launched Forrester Wave for enterprise firewall protection. Fortinet excels in new Forrester Wave product launch and provides a wide range of enterprise grade firewall protection services. Through this launch, the company will expand its Next-Generation Firewall (NGFW) solution that serves as a digital acceleration enabler, enabled by convergence of modern networking and security capabilities.
- On December 2022, Cloudflare, a U.S.-based leading content delivery network and DDoS mitigation company acquired Tel Aviv, an Israel-based start-up Zaraz to secure and speed up websites. This acquisition will expand solution portfolio of Cloudflare as well as it will help to improve website speed and security while minimizing influence of third-party marketing and analytics technologies.
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Some Key Highlights From the Report
- The solution segment accounted for the largest market revenue share in 2021. Web application firewall solutions are used in various industries to enhance security of enterprise firewalls. Web application firewalls secures online website applications by filtering and monitoring Hypertext transfer Protocol (HTTP) traffic between web application and internet connection.
- The on-premise segment accounted for largest revenue share in 2021. Web application firewalls helps in protection of applications based on geolocation data, Internet Protocol (IP) addresses, and HTTP headers. A large number of commercial and individual users are using on-premises deployment mode to operate and monitor firewall activities in-house. On-premise models are incredibly secure, run on organization's server, and can be rendered to meet their production targets.
- The banking and financial services segment accounted for largest revenue share in 2021. Web application firewall for banking and financial services is designed to safeguard online banking data from attacks, Distributed Denial-of-Service (DDoS), and web scraping. Web application firewalls protect online banking and financial services passwords, Secure Shell (SSH) credentials, and other sensitive data from breaches and unauthorized access.
- The North America market accounted for largest revenue share in 2021. Growing adoption of cybersecurity applications in government agencies is driving growth of the web application firewall market in this region. The U.S. Department of Defense estimates that the government would invest USD 11.2 billion in cyberspace programs in 2023. The U.S. Department of Defense is investing in cybersecurity to strengthen defense industrial base. These factors are expected to drive market revenue growth.
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Emergen Research has segmented the global web application firewall market based on component, deployment mode, organization size, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2019-2030)
- Solution
- Services
- Deployment Mode Outlook (Revenue, USD Billion; 2019-2030)
- On-premise
- Cloud
- Hybrid
- Organization Size Outlook (Revenue, USD Billion; 2019-2030)
- Large Enterprises
- Small and Medium Enterprises
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Manufacturing
- Logistic and Supply Chain
- Petrochemicals
- Mining
- Steel and Metallurgy
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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