Dublin, Sept. 20, 2022 (GLOBE NEWSWIRE) -- The "Global Web Application Firewall Market by Component (Solutions (Hardware Appliances, Virtual Appliances, Cloud-Based) and Services (Professional and Managed)), Organization Size (SMEs and Large Enterprises), Vertical and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global WAF market size to grow from USD 5.8 billion in 2022 to USD 13.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.9% during the forecast period.
As the world is becoming progressively interconnected, the penetration of technologies, such as IoT, across various end-user applications is increasing. Organizations are increasingly using such connected devices in their processes to make their business operate optimally.
With an increase in the number of devices and associated applications, various cyberattacks and security vulnerabilities are being added to the threat landscape. To deal with such situations, the majority of IoT technology and developer companies are deploying and recommending advanced security solutions, such as WAFs, Next-Generation Firewall (NGFW), and Runtime Application Self-Protection (RASP), for securing their business infrastructure, thereby driving the demand for the WAF market.
By Component, the services segment to grow at a higher CAGR during the forecast period
The services segment is expected to grow at a higher growth rate during the forecast period. Vendors provide a complete range of services that help enterprises conduct different activities necessary for the effective management of such solutions. They also provide a single point of contact for all the help and assistance required. The growing adoption of WAF solutions drives the need for proper pre- and post-consulting, deployment services, and overall management of the solutions. The services segment is further segmented into professional services and managed services.
By Professional Services, the consulting subsegment to hold the largest market share
The consulting subsegment is expected to hold the largest market size. Consulting services are offered by highly qualified industry experts, domain experts, and security professionals, who help organizations formulate cybersecurity strategies, prevent revenue losses, minimize risks, understand the maturity of cybersecurity solutions, and enhance the security of the existing information systems. Consulting service providers guide companies in setting up new WAF security infrastructure to address specific security requirements.
By Vertical, the BFSI segment to grow at the highest CAGR during the forecast period
The Banking, Financial Services, and Insurance (BFSI) segment is projected to grow at the highest CAGR during the forecast period. To improve business operations and expand the customer base, organizations in the BFSI vertical are introducing new and enhanced financial products and services, making the industry a lucrative target for frauds. With facilities such as smart banking, internet banking, and mobile banking, BFSI companies need to prioritize WAF security solutions.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Overview of Web Application Firewall Market
4.2 Market, by Component, 2022 Vs. 2027
4.3 Market, by Solution, 2022 Vs. 2027
4.4 Market, by Professional Service, 2022 Vs. 2027
4.5 Market, by Organization Size, 2022 Vs. 2027
4.6 Market, by Vertical, 2022 Vs. 2027
4.7 Web Application Firewall Market: Regional Scenario, 2022-2027
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Importance of Web Applications
5.2.1.2 Rising Instances of Web Attacks, Such as Cyber Theft, Espionage, Vandalism, and Fraud
5.2.1.3 Government Regulations and Need for Compliance to Drive Adoption of Waf Solutions
5.2.1.4 Technological Proliferation and Increasing Penetration of Iot
5.2.2 Restraints
5.2.2.1 Insufficient Protection, False Positives, and High Cost of Deployment
5.2.2.2 Organizations Considering Runtime Application Self-Protection as Viable Alternative
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Cloud and Virtual Appliance-Based Wafs
5.2.3.2 Introduction of Ml/Ai-Powered Wafs
5.2.4 Challenges
5.2.4.1 Lack of Technical Expertise
5.2.4.2 Presence of Traditional Firewalls
5.3 Case Study Analysis
5.3.1 Case Study 1: Electronic Records and Practice Management Software Company Relied on Imperva for Security and Efficiency
5.3.2 Case Study 2: Asian Paints Empowered Transformation with F5 Silverline Web Application Firewall
5.3.3 Case Study 3: Peach Boosted Security and Customer Confidence Using Aws Waf
5.4 COVID-19-Driven Market Dynamics
5.4.1 Drivers and Opportunities
5.4.2 Restraints and Challenges
5.5 Pricing Analysis
5.6 Value Chain Analysis
5.7 Tariff and Regulatory Landscape
5.7.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.7.2 Payment Card Industry Data Security Standard
5.7.3 Health Insurance Portability and Accountability Act
5.7.4 Federal Information Security Management Act
5.7.5 Gramm-Leach-Bliley Act
5.7.6 Sarbanes-Oxley Act
5.7.7 The International Organization for Standardization Standard 27001
5.7.8 European Union General Data Protection Regulation
5.8 Patent Analysis
6 Web Application Firewall Market, by Component
6.1 Introduction
6.1.1 Components: Market Drivers
6.1.2 Components: COVID-19 Impact
6.2 Solutions
6.2.1 Hardware Appliances
6.2.2 Virtual Appliances
6.2.3 Cloud-Based
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.2 Support & Maintenance
6.3.1.3 Training & Education
6.3.1.4 System Integration
6.3.2 Managed Services
7 Web Application Firewall Market, by Organization Size
7.1 Introduction
7.1.1 Organization Sizes: Market Drivers
7.1.2 Organization Sizes: COVID-19 Impact
7.2 Small and Medium-Sized Enterprises
7.3 Large Enterprises
8 Web Application Firewall Market, by Vertical
8.1 Introduction
8.1.1 Verticals: Market Drivers
8.1.2 Verticals: COVID-19 Impact
8.2 Banking, Financial Services, and Insurance
8.3 Retail
8.4 It & Telecommunications
8.5 Government & Defense
8.6 Healthcare
8.7 Energy & Utilities
8.8 Education
8.9 Other Verticals
9 Web Application Firewall Market, by Region
10 Competitive Landscape
10.1 Overview
10.2 Market Evaluation Framework
10.3 Revenue Analysis
10.4 Market Share Analysis
10.5 Company Evaluation Quadrant
10.5.1 Stars
10.5.2 Emerging Leaders
10.5.3 Pervasive Players
10.5.4 Participants
10.5.5 Overall Company Footprint Analysis
10.6 Ranking of Key Players
10.7 Startup/Sme Evaluation Matrix
10.7.1 Progressive Companies
10.7.2 Responsive Companies
10.7.3 Dynamic Companies
10.7.4 Starting Blocks
10.8 Key Market Developments
10.8.1 Product Launches & Enhancements
10.8.2 Deals
10.8.3 Others
11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 Imperva
11.2.2 Akamai
11.2.3 Barracuda
11.2.4 Citrix
11.2.5 Cloudflare
11.2.6 Rohde & Schwarz
11.2.7 Ergon Informatik
11.2.8 F5 Networks
11.2.9 Fortinet
11.2.10 Radware
11.3 Other Players
11.3.1 Penta Security Systems
11.3.2 Trustwave
11.3.3 Nsfocus
11.3.4 Sophos
11.3.5 Positive Technologies
11.3.6 Oracle
11.3.7 Qualys
11.3.8 Aws
11.3.9 Fastly
11.3.10 Microsoft
11.3.11 Alibaba Cloud
11.3.12 Lumen
11.4 Sme/Startups
11.4.1 Stackpath
11.4.2 Prophaze
11.4.3 Indusface
11.4.4 Wallarm
11.4.5 Haproxy
11.4.6 Reblaze
11.4.7 Cloudbric
11.4.8 Mlytics
11.4.9 Expimont
11.4.10 Threatx
12 Adjacent Markets
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/akvuer
