Global Web Application Firewall (WAF) Market Analysis 2023-2028: Focus on Enhanced Security Measures in the BFSI Sector Driving WAF Industry Growth

Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Web Application Firewall Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to's offering.

The industry, which stood at US$ 4.7 billion in 2022, is anticipated to burgeon to a market size of US$ 11.4 billion by 2028, flourishing at a CAGR of 15.9% during the forecast period. This report delves into crucial market dynamics, segmentations, and regional insights, showcasing the accelerating need for web application firewalls to counter the escalating prevalence of cyberattacks and internet fraud globally. Rapid digitization across industries and heightened concerns regarding data security stand as pivotal drivers fueling the market growth.

Key Insights from the Global Web Application Firewall Market

With the adoption of WAF solutions reaching new heights, this study segments the market based on deployment, organization size, service, and end-use industry, providing a detailed breakdown of each category.

  • Cloud-based WAF solutions are gaining momentum with their cost-effectiveness and ease of deployment, aligning with global trends towards cloud migration.
  • On-premises WAF continues to dominate, particularly in scenarios where organizations require fortified security against advanced cyber threats.
  • The market shows an increasing trajectory among large enterprises as they prioritize safeguarding network access against cyber vulnerabilities.
  • Professional and managed services in the WAF sector are critical for maintaining robust security postures, catering to a rise in websites and online applications.

The analysis also covers the utilization of WAF solutions in various sectors, with the BFSI sector taking significant strides in adopting these firewalls to protect sensitive customer data and combat financial cyber threats.

Geographical Market Analysis

The report provides an extensive regional analysis, dissecting the market into key areas including North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Notably, North America holds a commanding position in the global market, attributed to an advanced security infrastructure and a high incidence of security breaches.

Industry's Competitive Landscape

The global WAF market is characterized by a competitive environment where innovation and strategic collaborations are integral for industry players to maintain and enhance their market presence. Notable organizations operating within this space are focusing on development and integration of advanced features to keep pace with the sophisticated nature of cyber threats.

Key Attributes

Report AttributeDetails
No. of Pages139
Forecast Period2022-2028
Estimated Market Value (USD) in 2022$4.7 Billion
Forecasted Market Value (USD) by 2028$11.4 Billion
Compound Annual Growth Rate15.9%
Regions CoveredGlobal

Companies Mentioned

  • 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.

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Web Application Firewall Market

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