Web Application Firewall Market Growing at 20.88 % CAGR to Hit USD 25.6 billion by 2030 | Top Players Such as Akamai Technologies, Inc.,Radware Ltd., Citrix Systems, Inc. And Applicure Technologies Ltd.

The web application firewall market is impacted by factors such as growth in demand for cloud-based solutions, increase in number of cyber-attack activities, stringent industry standards and regulatory compliance, increase in application areas, and dearth of trained professionals. However, dearth of trained professionals hampers growth of the WAF market.

According to a new report published by Allied Market Research, titled, "Web Application Firewall Market," The web application firewall market was valued at $3.9 billion in 2020, and is estimated to reach $25.6 billion by 2030, growing at a CAGR of 20.88% from 2021 to 2030.

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In 2020, on the basis of deployment, the on-premise segment dominated the web application firewall market, and is expected to maintain its dominance in the upcoming years. This is attributed to factors such as lack of additional capital for procurement of essential hardware and software and high cost of on-premises security deployment model compared to cloud-based model have created hurdles in growth of this model. In addition, impact of increased threat from advanced cyber-attack such as Ransomware have increased adoption of the market among large enterprises.

COVID-19 Scenario:

1. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. Over the last two years, the global semiconductors and electronics industry has seen a variety of changes, with manufacturing and other heavy industries encountering operational issues as a result of the restricted cash flow in the pandemic.

2. Data center services, cloud computing, and other online support sectors, on the other hand, benefited greatly from market changes. Hence, the market for web application firewall solutions is expected to witness a major increase in end-user spending in the future.

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The predominant deployment mode for large enterprises is on-premises, involving substantial investments in interconnected hardware, servers, and software for system management. This approach is suitable for specific applications, particularly those dealing with critical data like financial and health records that necessitate extensive data transfers and operations. However, the emergence of cloud computing has alleviated cost constraints for many enterprises, making it the preferred deployment choice.

Moreover, web application providers for distance learning, teleconferencing, online gaming, healthcare, e-commerce, and entertainment have observed an upsurge in usage as well as boost in revenue. Hence, there is rise in need for such applications to improve their security capabilities. Aforementioned factors boosted the growth of the web application firewall market.

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Concerning organizational size, the large enterprises segment stands out as the fastest-growing sector in the Web Application Firewall (WAF) market. It is anticipated to maintain its dominance in the WAF market size in the coming years. Additionally, ensuring comprehensive security for IT assets involves both network and application security, with WAF security playing a crucial role. The growing awareness of security events and the imperative to safeguard data contribute to the market's expansion within large enterprises. Factors such as the ease of deployment, the presence of sandboxing technologies, and advanced detection capabilities further drive the adoption of WAF Firewall among large enterprises.

Moreover, the advantages offered by WAF Firewall over next-generation network firewalls (NGFW) and intrusion prevention systems (IPS), providing advanced protection capabilities for internal business-critical applications, internet-facing websites, and web services, are expected to fuel market growth throughout the forecast period for the web application firewall market.

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Key Market Players:

➢ Akamai Technologies, Inc.

➢ Radware Ltd.

➢ Citrix Systems, Inc.

➢ Applicure Technologies Ltd.

➢ Barracuda Networks, Inc.

➢ Fortinet, Inc.

➢ Qualys, Inc.

➢ Imperva, Inc.

➢ F5 Networks, Inc.

➢ Cloudflare, Inc.

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