Imagine a world where everything you do online is protected from cyber threats.
A world where your personal data and sensitive information is shielded from hackers and malicious attacks.
That world is within reach, thanks to the booming web application firewall market.
With a projected market size of $25.6 billion by 2030, it’s clear that businesses and individuals are recognizing the importance of fortifying their digital security.
In this article, we will delve into the factors driving this market growth and why you should pay attention to this rapidly-evolving industry.
Contents
web application firewall market size
The global web application firewall market was valued at $3.9 billion in 2020 and is projected to reach $25.6 billion by 2030, growing at a CAGR of 20.88% from 2021 to 2030.
The market is driven by increased demand for cloud-based solutions, rising cyber-attack activities, industry standards and regulations, application growth, and shortage of trained professionals.
The on-premise deployment model currently dominates the market, but the cloud segment is expected to grow at the highest rate during the forecast period.
Large enterprises currently dominate the market, and factors such as the need to safeguard data and increase awareness of security events contribute to its growth.
North America is currently the leader in the market, followed by Asia-Pacific, which is predicted to be the fastest-growing region.
The COVID-19 pandemic has also increased the demand for web application firewall solutions due to remote work arrangements and increased reliance on online services.
Overall, the market is influenced by factors such as the rise of cloud-based solutions, adoption of cloud technology by businesses, and stringent industry standards and regulations.
Key Points:
- The global web application firewall market was valued at $3.9 billion in 2020 and is projected to reach $25.6 billion by 2030, with a CAGR of 20.88% from 2021 to 2030.
- The market is driven by increased demand for cloud-based solutions, rising cyber-attack activities, industry standards and regulations, application growth, and shortage of trained professionals.
- The cloud segment is expected to grow at the highest rate during the forecast period, surpassing the dominance of the on-premise deployment model.
- Large enterprises currently dominate the market, driven by the need to safeguard data and increase awareness of security events.
- North America is currently the leader in the market, followed by the Asia-Pacific region, which is predicted to be the fastest-growing region.
- The COVID-19 pandemic has also increased the demand for web application firewall solutions due to remote work arrangements and increased reliance on online services.
Check this out:
💡 Did You Know?
1. The global web application firewall (WAF) market size is projected to reach $9.1 billion by 2027, indicating significant growth opportunities in securing online platforms and applications.
2. The term “WAF” was coined by a popular cybersecurity expert, Jeremiah Grossman, in the early 2000s, highlighting the need for a dedicated solution to protect web applications from various cyber threats.
3. One of the earliest recorded instances of a web application firewall dates back to 1999 when a tool called “Whitewash” was developed by Ivan Ristic, emphasizing the importance of safeguarding web applications against potential vulnerabilities.
4. The rise of cloud computing and the subsequent increase in online services prompted the exponential growth of the web application firewall market, with organizations striving to secure their web applications hosted on cloud platforms.
5. Virtual patching is a key feature offered by many modern web application firewalls, allowing organizations to mitigate vulnerabilities and protect against zero-day attacks without making immediate changes to the application’s code or infrastructure.
Market Size Projection: $25.6 Billion By 2030, Growing At A CAGR Of 20.88%
The global web application firewall market has experienced significant growth in recent years and is expected to continue its upward trajectory. According to market research, the market was valued at $3.9 billion in 2020 and is projected to reach $25.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 20.88% during the forecast period.
The rapid growth of the market can be attributed to several factors. First and foremost, the increasing demand for enhanced cybersecurity solutions in the wake of the COVID-19 outbreak has been a major driver. With the sudden shift towards remote work and increased reliance on online services, organizations are facing heightened cybersecurity risks. Web application firewalls provide a critical layer of defense against cyber threats, making them an essential investment for businesses.
Additionally, the growing adoption of cloud-based solutions has fueled the demand for web application firewalls. Cloud computing offers numerous benefits, including scalability, flexibility, and cost-efficiency. However, it also introduces new security challenges, as organizations need to protect their cloud-based applications and data from potential breaches. Web application firewalls are specifically designed to secure cloud environments, making them an ideal solution for businesses embracing the cloud.
Furthermore, the rise in cyber-attack activities has contributed to the market’s growth. Hackers are becoming increasingly sophisticated in their tactics, targeting web applications to gain unauthorized access to sensitive data. As a result, organizations across various industries are recognizing the importance of deploying robust web application firewalls to protect their digital assets.
Moreover, industry standards and regulations have played a significant role in driving the adoption of web application firewalls. Sectors such as finance, healthcare, and government have specific compliance requirements that necessitate the implementation of advanced cybersecurity measures. Organizations must adhere to these regulations to safeguard customer data and maintain the integrity of their systems, further boosting the market for web application firewalls.
Increased Demand Due To Covid-19 Outbreak
The COVID-19 pandemic has had far-reaching implications across industries, including the cybersecurity sector. As companies rapidly adopted remote work arrangements and increased their reliance on online services, the demand for web application firewall solutions surged. This sudden shift in the business landscape exposed vulnerabilities in cybersecurity infrastructure, requiring organizations to fortify their defenses.
With employees accessing corporate applications and data remotely, organizations faced mounting cybersecurity challenges. Remote work introduced new attack surfaces, increasing the risk of data breaches and other cyber threats. Web application firewalls emerged as a critical tool in mitigating these risks, ensuring secure access to web applications and preventing unauthorized access.
Additionally, the reliance on online services during lockdowns and restrictions led to an increase in cyber-attacks. Hackers leveraged opportunities presented by the pandemic to exploit vulnerabilities in web applications and gain unauthorized access to sensitive information. This further emphasized the need for robust web application firewall solutions to protect against these evolving threats.
- The COVID-19 pandemic has led to increased demand for web application firewall solutions.
- Remote work has introduced new cybersecurity challenges, including an increased risk of data breaches.
- Web application firewalls play a critical role in mitigating these risks and ensuring secure access to web applications.
- The reliance on online services during lockdowns has led to an increase in cyber-attacks.
- Robust web application firewall solutions are essential in protecting against evolving threats.
Driving Factors: Cloud-Based Solutions, Cyber-Attack Activities, Industry Standards And Regulations
The web application firewall market is driven by several key factors that have fueled its rapid growth.
One of the primary drivers is the increased demand for cloud-based solutions. As businesses continue to adopt cloud technologies, the need for secure cloud-based applications becomes paramount. Web application firewalls offer specific protection against attacks targeting cloud environments, making them essential for organizations embracing the cloud.
Additionally, the rise in cyber-attack activities has contributed to the market’s expansion. Hackers are continually developing new techniques to exploit vulnerabilities in web applications and gain unauthorized access to sensitive data. This has raised awareness among organizations about the need for robust cybersecurity solutions, such as web application firewalls, to protect their digital assets.
Furthermore, industry standards and regulations play a vital role in driving the adoption of web application firewalls. Sectors such as finance, healthcare, and government have specific compliance requirements that organizations must meet to safeguard customer data and ensure secure operations. Web application firewalls help businesses adhere to these regulations, making them an indispensable component of their cybersecurity strategies.
The shortage of trained cybersecurity professionals is another factor driving the market’s growth. As organizations face an ever-evolving threat landscape, the demand for skilled cybersecurity experts has surged. However, there is a significant shortage of professionals with the necessary expertise and experience. To bridge this gap, organizations are turning to automated solutions like web application firewalls to augment their cybersecurity defenses.
Overall, the increasing demand for cloud-based solutions, rising cyber-attack activities, industry standards and regulations, application growth, and shortage of trained professionals have collectively propelled the growth of the web application firewall market. Organizations are recognizing the value of web application firewalls in protecting their web applications from potential threats, ensuring the security and integrity of their digital operations.
- The increased demand for cloud-based solutions
- Rising cyber-attack activities
- Industry standards and regulations
- Shortage of trained cybersecurity professionals
FAQ
How big is the firewall market?
The rapid growth of the global firewall as a service market is evident, with a value of USD 2.53 billion in 2022 and projected to grow at a CAGR of 22.3% from 2023 to 2030. This substantial expansion signifies the increasing importance of data security and the growing adoption of cloud-based security solutions. As more organizations recognize the need for robust firewall protection, the market is likely to witness further growth in the coming years.
With emerging technologies and cyber threats, the demand for firewall services is expected to surge. The market’s impressive growth rate highlights a shift towards proactive cybersecurity measures, as businesses prioritize safeguarding their sensitive information. As a result, firewall solutions are becoming increasingly prevalent and necessary in today’s interconnected digital landscape.
What is the size of the web application market?
The web application market has experienced significant growth in recent years and is expected to continue expanding at a rapid pace. With a global market size of USD 1.13 Billion in 2019, this industry is projected to reach USD 10.44 Billion by 2027, representing a staggering compound annual growth rate (CAGR) of 31.9%. This substantial increase is driven by the increasing adoption of progressive web applications, which offer enhanced user experience and cross-platform compatibility compared to traditional web applications. As businesses increasingly recognize the value of web applications in reaching their target audience and improving customer engagement, the size of the web application market is set to soar in the coming years.
What is the value of a web application firewall?
A web application firewall holds immense value as it acts as a crucial line of defense for web applications. By filtering, monitoring, and blocking malicious HTTP/S traffic, it shields web apps from potential threat actors and unauthorized access, significantly enhancing their security. The ability to adhere to predefined policies helps the firewall distinguish between malicious and safe traffic, ensuring that unauthorized data does not leave the application. As a result, the WAF not only safeguards the integrity of web applications but also protects sensitive information from falling into the wrong hands.
AWS WAF holds a market share of 4.00% in the competitive perimeter-security-and-firewalls market. Despite competing against 96 other tools in this category, AWS WAF has managed to carve out a significant portion of the market, showcasing its effectiveness and appeal to customers in need of robust perimeter security solutions.