Web Application Firewall Market Size (2024 - 2029)

Web Application Firewall (WAF) Market Analysis

The Web Application Firewall Market size is estimated at USD 6.80 billion in 2024, and is expected to reach USD 14.60 billion by 2029, growing at a CAGR of less than 19.90% during the forecast period (2024-2029).

Rising cyber theft and fraud incidents and rigorous government policies governing data and cyber security will likely drive market growth. Furthermore, web-based apps and services have changed the nature of information distribution and exchange in today's business, government, and educational sectors. The firewall market is becoming increasingly crucial for the deeper integration of internal information systems because of the low cost of information and the wide range of online and web-based services.

• Whether expressly or indirectly, specific enterprise and government laws necessitate the adoption of a WAF (Web Application Firewall) solution. For example,(PCI-DSS) is a renowned and significant standard that supports the use of WAF. WAF functionality may be implemented in software or hardware and operate on an appliance device or a conventional server running the same operating system.
• Furthermore, organizations with online commerce and banking platforms primarily use WAFs to safeguard their operations and protect sensitive consumer data. Again, the rising use of firewalls in healthcare is driving the market. WAFs prevent unauthorized access to critical healthcare networks and electronic patient information using Wi-Fi-enabled equipment and other related devices.
• On the other hand, web application firewalls confront two significant challenges: cost and performance. Performance is typically challenging with these tools since they monitor all incoming and outgoing information at the application layer. Each protocol, such as HTTP and SMTP, has its proxy program, and it might take a long time for new network applications and protocols to receive support.
• Due to unusual conditions, the COVID-19 outbreak increased demand for web application firewall solutions during the last two years. Many firms, for example, centered their security efforts on endpoint protection for work-from-home systems. Furthermore, enterprise security teams needed more resources to address multiple online application security concerns, increasing the demand for a reliable web application firewall.

Web Application Firewall (WAF) Industry Segmentation

The web application firewall is an application firewall for HTTP applications. Web applications are valuable tools for businesses of all sizes. A WAF can be either network-based, host-based, or cloud-based and is often deployed through a reverse proxy and placed in front of one or more websites or applications. These applications enable businesses to communicate with customers, potential customers, employees, partners, and other information technology (IT) systems. E-commerce witnesses a mix of attempts designed to cause downtime and access internal files, which WAF helps them to secure.

The web application firewall market is segmented by component (solution [hardware appliances, virtual appliances, cloud-based], services [consulting, support and maintenance, training and education, professional services, system integration]), organization size (small and medium-sized enterprises, large enterprises), industry vertical (bfsi, retail, it and telecommunications, government and defense, healthcare, energy and utilities, education), and geography (North America[United States, Canada], Europe [United Kingdom, Germany, France, Rest of Europe], Asia-Pacific [China, Japan, India] and Rest of the World [Latin America, Middle East & Africa]). The market size and forecast are provided in terms of value (USD) for all the above segments.