Web Application Firewall Market to Gain USD 27.68 billion by 2031 | SkyQuest Technology

Web Application Firewall Market size was valued at USD 5.82 billion in 2022 and is poised to grow from USD 6.92 billion in 2023 to USD 27.68 billion by 2031, growing at a CAGR of 18.92% during the forecast period (2024-2031).

Westford, USA, Nov. 14, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that Web Application Firewall Market will attain a value of USD 27.68 Billion by 2031, with a CAGR of 18.92% during the forecast period (2024-2031). The market is expanding due to the growing use of web application firewalls that are automated and AI-powered. The next firewalls that will be developed are automated ones based on artificial intelligence that’s why companies are increasingly embracing them; they have ability to respond quickly to new risks as well as make decisions judiciously. For this reason, web application firewalls save businesses from advanced security threats targeting application-level systems using intelligent context-driven protection methods.

Download a detailed overview:

https://www.skyquestt.com/sample-request/web-application-firewall-market

Browse in-depth TOC on the “Web Application Firewall Market “

  • Pages – 197
  • Tables – 96
  • Figures – 76

Web Application Firewall Market Overview:

Report Coverage Details
Market Revenue in 2023 $6.92 Billion
Estimated Value by 2031 $27.68 Billion
Growth Rate Poised to grow at a CAGR of 18.92%
Forecast Period 2024–2031
Forecast Units Value (USD Billion)
 Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered End User, Component, Type and Region
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights Rising integration of advanced technologies particularly AI and ML
Key Market Opportunities Increasing adoption of cloud and virtual appliance-based WAFs
Key Market Drivers Increasing Escalating frequency of cyber threats

BFSI End User to Dominate Due to its Stringent Data Security Needs

Due to increased hacking incidents against banks, WAF solutions have become essential requirements in financial institution security frameworks. Banks are also obliged to comply with regulations put up by different authorities for which they need protection systems such as WAF Therefore; BFSI sector remains driving force behind WAF global market due to its specific needs concerning data security.

WAF Systems is Largest Growing Sub-Segment Due to its Protection Web Applications from Diverse Cyber Threats

Since they are so important in defending online apps from various cyberthreats, WAF systems are the market leader in the global web application firewall industry. The need for WAF solutions is driven by the increase in cybersecurity awareness among organisations and the frequency of application-layer assaults. As such, to guarantee complete protection and compliance, WAF systems are being more and more integrated into security infrastructures.

Request Free Customization of this report:

https://www.skyquestt.com/speak-with-analyst/web-application-firewall-market

High Adoption of Cybersecurity Technologies Helped North America to Dominate the Market

Since it has a sophisticated IT architecture and experiences high rates of cyber-attacks, North America takes the highest percentage of the global web application firewall (WAF) market. The existence of stringent regulations regarding internet security and heavy investments in cyber-security technologies also support the adoption of WAF solutions within the region. As such, these factors bolster North America’s dominance in this sector through an improved overall security posture.

Web Application Firewall Market Insight

Drivers:

  1. WAF Systems to Protect Sensitive Data
  2. Proliferation of Web Applications across Various Sectors
  3. Growing E-Commerce Sector

Restraints:

  1. Increasing Frequency and Sophistication of Cyberattacks
  2. WAF Systems can sometimes Generate False Positives
  3. Blocking Legitimate Traffic and Operational Disruptions

Prominent Players in Web Application Firewall Market

  • Imperva (US)
  • Akamai (US)
  • Barracuda (US)
  • Citrix (US)
  • Cloudflare (US)
  • Rohde & Schwarz (Germany)
  • Ergon Informatik (Switzerland)
  • F5 Networks (US)
  • Fortinet (US)
  • Radware (Israel)

Segments covered in Web Application Firewall Market are as follows:

Component

Solutions (Hardware appliances, Virtual appliances, Cloud-based), Services (Managed Services, Professional Services (Consulting, Support & Maintenance, Training & Education, System Integration))

Organization Size

Large Enterprises, Small & Medium Sized Enterprises

Vertical

Banking, Financial Services & Insurance, Retail, IT & Telecommunications, Government & Defense, Healthcare, Energy & Utilities, Education, Others

Key Questions Answered in Global Web Application Firewall Market Report

  • By 2031, how much is the global web application firewall market expected to be worth?
  • Why does the global web application firewall market have a strong driving force in the BFSI sector?
  • What factors lead to the dominance of North America’s greatest share of the global web application firewall market?

View report summary and Table of Contents (TOC):

https://www.skyquestt.com/report/web-application-firewall-market

This report provides the following insights:

  • Analysis of key drivers (WAF systems incorporating improved threat detection, bring your own device (BYOD) trend, increased awareness of data breaches and importance of securing web applications), restraints (Managing & operating WAF systems, complicated deployment and maintaining performance & security) opportunities (Rise of managed security service providers, WAF vendors to offer WAF as a managed service and WAF expansion in emerging markets), and challenges (Continuous evolution of cyber threats and challenge for vendors to keep pace) influencing the growth of web application firewall market
  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the web application firewall market
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the web application firewall market
  • Market Development: Comprehensive information on lucrative emerging regions
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
  • Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

Related Report:

Edge Computing Market

Quantum Computing Market

Voice Recognition Market

Digital Signage Market

Smart Home Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr. Jagraj Singh

Skyquest Technology

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 351-333-4748

Email: sales@skyquestt.com

Visit Our Website: https://www.skyquestt.com/

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy