Web Application Firewall Market size is expected to surpass USD 73 Billion by the end of 2035, growing at a CAGR of 21% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of web application firewall was around USD 7 Billion. There is an increase in the number of cyber-attacks targeting web applications. web application attacks account for 27% of all breaches and a report found that websites receive an average of 95 attacks every day, and web crawlers visit them an average of 2,600 times per week. WAF detects and blocks malicious requests before they reach the application, helping to protect against a variety of cyber threats such as SQL injection, Cross-Site Scripting (XSS), and Distributed Denial of Service (DDoS) attacks.
Web application firewalls are becoming an essential component of an organization's cybersecurity strategy. The deployment of WAF in cloud and virtual environments is increasing, as these types of firewalls are better suited to protect against malicious web traffic and can be deployed quickly and easily.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 21% |
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Base Year Market Size (2022) |
~ USD 7 Billion |
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Forecast Year Market Size (2035) |
~ USD 73 Billion |
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Regional Scope |
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Growth Drivers
Challenges
End User (BFSI, Healthcare, Manufacturing, Government Sector, IT and Telecom, Retail, E-Commerce)
By 2035, the BFSI segment is expected to hold the largest share of the web application firewall market with a share of about 31%. The increasing trend of digital transformation in banking, financial services, and insurance (BFSI) organizations has led to a rise in web applications. Banks and other financial institutions are increasingly turning to web application firewall solutions to protect their customers' data from malicious actors. These solutions are designed to detect and block malicious traffic and protect the sensitive information stored in online banking systems.
Deployment Model (On-Premise, Cloud)
The on-premise segment is poised to hold over about 54% share of the global web application firewall market by 2035. Organizations are looking for more control over their data and security. With on-premises deployment, organizations can manage and monitor their security operations in-house whilst ensuring data protection and security. Furthermore, this mode of deployment allows for greater customization to meet specific requirements within an organization. Additionally, with on-premise firewalls, organizations can have greater control over the traffic coming into and leaving out of their networks, allowing them to better protect their applications from malicious actors.
Our in-depth analysis of the global market includes the following segments:
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Component |
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Deployment Model |
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Enterprise Size |
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End User |
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North American Market Forecast
The North America web application firewall market is expected to be the highest of all regions by the end of 2035, with about 37%. In addition to the presence of a large number of companies in the region, technological advances in cybersecurity, as well as increased investment by companies in research and development activities, are all expected to contribute to the growth of the market in the region. U.S. Defense Department estimates that government investment in cyberspace programs will reach USD 11.2 billion by 2023. A higher number of cybersecurity professionals will result in a greater demand for cybersecurity products and services such as web application firewalls.
APAC Market Statistics
A share of roughly 28% is expected to be recorded by the end of 2035 for the Asia Pacific web application firewall market. Growing internet penetration and rising cyber-attacks targeting enterprises in the region are increasing demand for web application firewall solutions from SMEs, government organizations, and large enterprises to protect their web applications from threats and cyber-attacks. This is due to the increasing number of organizations that are investing in digital transformation initiatives and the need to secure data and applications from cyber-attacks. Governments in the region are enacting stringent regulations for securing data and information to further drive the demand for web application firewalls.
Author Credits: Abhishek Verma, Hetal Singh
Ans: The increasing number of cyberattacks and data breaches, and the growing adoption of cloud-based services.
Ans: The market size of web application firewalls is anticipated to attain a CAGR of ~21% over the forecast period, i.e., 2023 – 2035.
Ans: The major players in the market are Imperva, Datadog Inc., Akamai Technologies Inc., F5 Networks Inc., Barracuda Networks Inc., Cloudflare Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by component, deployment model, enterprise size, end user, and by region.
Ans: The on-premise segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Ans: Cost concerns related to the implementation of WAF and the shortage of qualified personnel who can manage and configure these systems effectively.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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