The Web Application Firewall market is growing rapidly due to rising cyberattacks, and heightened data protection needs.

AUSTIN, TX, UNITED STATES, January 17, 2025 /EINPresswire.com/ -- The Web Application Firewall Market size was USD 6.35 Billion in 2023 and is expected to reach USD 28.6 Billion by 2032 and grow at a CAGR of 18.2% over the forecast period of 2024-2032.

Web Application Firewall Market Set for Rapid Growth Driven by Rising Cyberattacks, Online Fraud, and Healthcare Security Needs
The web application firewall market is poised for substantial growth, fueled by factors like rapid digitization, the rising frequency of cyberattacks, and the urgent need to curb online fraud globally. The increasing threats of malware, phishing, and other security threats are forcing companies to implement WAF solutions. The healthcare sector is experiencing increased usage of WAFs in protecting critical healthcare networks and sensitive patient information, particularly with the increased device connectivity. As reported by the FBI's Internet Crime Complaint Center, 847,370 complaints were filed about cyberattacks, which resulted in almost $6.87 billion in damages. Additionally, cloud-based WAF solutions are becoming popular and providing businesses with a variety of advanced services to protect applications and data across multiple environments.

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Keyplayers:
Security Systems, Oracle, Barracuda Fortinet, Inc., Citrix Systems, Inc., Applicure Technologies Ltd., Cloudflare, Inc., Radware Ltd., Akamai Technologies, F5 Networks, Inc., Imperva, Inc., AWS, Qualys, Inc., Networks, Inc., Barracuda, Rohde & Schwarz, Positive Technologies, Qualys, Wallarm, StackPath, Cloudflare, Reblaze

Segment Analysis

By Deployment Model
The Cloud segment held the largest share of the market in 2023. The increasing trend of using cloud-based applications and services in businesses is one factor that is making cloud-based WAF solutions so popular. Such solutions are very attractive because they scale well, deploy easily, and provide defense against all manner of cyber-attacks, such as malware, phishing attacks, and ransomware. They are the most suitable solution for those business organizations requiring flexible, cost-effective protection for their web applications.

By Organization Size
The Large Enterprise segment held a significant market share in 2023. The growing concern among large organizations in BFSI and healthcare is about the necessity for robust security to protect sensitive data and ensure business continuity. WAF solutions help these large organizations achieve improved security capabilities such as advanced detection technologies, sandboxing, and real-time threat monitoring.

By End User
The BFSI sector dominates the WAF market, accounting for more than 28% of the market share. The financial services industry is built on web applications and online banking platforms, with the industry coming under heavy threat from cyber-attacks. WAF solutions are in a position to protect these web applications from any SQL injection and cross-site scripting attacks, apart from DDoS attacks for the safety of customers as well as an organization's data.

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Key Regional Development
North America is the largest region in the Web Application Firewall market, holding over 42% of the global market share in 2023. The region has more developed technological infrastructure, a more sophisticated awareness level for cybersecurity threats, and large presence of market leaders such as Imperva, F5, and Akamai. More initiatives from the government, for instance, in its National Cyber Strategy, combined with increased cyber-security spending from the US government, will stimulate demand for WAF solutions among the industries.
The Asia Pacific region is expected to grow at the highest rate during the forecast period, include rapid digital transformation, increasing internet penetration, and rising awareness of cybersecurity in countries such as China, India, and Japan. More organizations in the region are adopting digitalization and cloud services, which will raise the demand for WAF solutions. The rising complexity of cyber threats, with the rapid growth of IoT devices, will further fuel demand for robust security solutions like WAFs.

Recent Development
April 2023: Akamai Technologies Inc. partnered with Neosec to offer an API detection and response platform powered by data and behavioral analytics. This collaboration aims to enhance Akamai's visibility into evolving API threats, complementing its existing WAF solutions.
March 2023: Cloudflare announced the availability of a free web application firewall for its free subscribers, providing access to WAF rules that automatically block known threats, improving website security for users worldwide.

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