Web Application Firewall Global Market Report 2024 - By Growth, Size, Demand, Trends And Analysis, Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Web Application Firewall Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $11.64 billion In 2028 At A CAGR Of 18.1% :
The web application firewall market size has grown rapidly in recent years. It will grow from $5.04 billion in 2023 to $5.98 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth in the historic period can be attributed to cybersecurity maturation, awareness and education, vendor competition and innovation, web application development, remote work trends.

The web application firewall market size is expected to see rapid growth in the next few years. It will grow to $11.64 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to demand for scalable solutions, industry-specific application security needs, agile development practices, increasing application complexity. Major trends in the forecast period include customization and scalability, growing importance of application security, integration into devops processes, remote workforce security, advancements in waf technologies.

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Web Application Firewall Market Major Segments
The web application firewall market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Model: On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small and Medium Sized Enterprises
4) By Vertical or End User: Banking, Financial Services and Insurance, Retail, IT and Telecommunications, Government and Defense, Healthcare, Energy and Utilities, Education, Other Verticals

Key Driver - The Surge In Cyberattacks And Data Breaches Drives Growth In The Web Application Firewall Market
The increase in the number of cyberattacks and data breach activities is expected to propel the web application firewall market going forward. A cyberattack or data breach is a malicious and intentional attempt by an individual or a group to breach the information system of another person or organization. It is used to gain unauthorized access, corrupt, disrupt, disable, and control someone's computer. A web application firewall prevents and protects the web application from cyberattacks and keeps the data safe. For instance, according to the cybersecurity threat landscape report by Positive Technologies, a Russia-based cybersecurity company, the number of cyberattacks increased by 17% in Q1 2021 as compared to Q1 2020, and it increased by 1.2% as compared to Q4 2020. Furthermore, according to the 2022 cost of a data breach report published by IBM (International Business Machines Corporation), the average cost of a data breach increased 2.6%, from USD 4.24 million in 2021 to USD 4.35 million in 2022. Therefore, the increase in the number of cyberattacks and data breaches is significantly contributing to the growth of the web application firewall market.

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Prominent Trend - Technological Advancements Reshaping The Web Application Firewall Market
Technological advancement is a key trend in the web application firewall market. Major players in operating web application firewalls are adopting cloud-based website firewalls and advanced WAF technology that employs behavioral analytics, proactive bot defense, and application-layer data encryption. For instance, in May 2022, StackPath, a US-based edge computing platform provider, launched StackPath Web Application Firewall (SP//WAF) by subscription. It offers monthly WAF usage and increased access to new and extra features such as specialized sanction screens, sophisticated rule extensions, professional services, and technical support. The powerful threat-detection capabilities that set SP/WAF are available to businesses of all sizes in a package that cost-effectively satisfies their specific security, use, and operations-management requirements.

Web Application Firewall Market Players
Major companies operating in the web application firewall market report are Imperva Inc., Akamai Technologies Inc., Barracuda Networks Inc., Citrix System Inc., Cloudflare Inc., F5 Networks Inc., Fortinet Inc., Radware Ltd., Qualys Inc., Ergon Informatik AG, Amazon Web Services Inc., Nsfocus Information Technology Co. Ltd., Rohde & Schwarz GmbH & Co. KG, Microsoft Corporation, AppTrana by Indusface, Czar Securities Private Limited, Fastly Inc., Penta Security Systems Inc., PerimeterX, Signal Sciences Corporation, SiteGuard, SiteLock LLC, Sophos Group, Sucuri Inc., Trustwave Holdings Inc., Virsec Systems, Wallarm Inc.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the web application firewall market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the web application firewall market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Web Application Firewall Market Report Structure
3. Web Application Firewall Market Trends And Strategies
4. Web Application Firewall Market - Macro Economic Scenario
5. Web Application Firewall Market Size And Growth
…..
27. Web Application Firewall Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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