Web Application Firewall Market Worth $13.8 Billion by 2027
CHICAGO, July 27, 2022 /PRNewswire/ — web application firewall market it is estimated that the size goes from $5.8 billion in 2022 at $13.8 billion by 2027, at a compound annual growth rate (CAGR) of 18.9% over the forecast period, according to a new report from MarketsandMarkets™. The WAF market is fueled by the growing importance of web applications. Additionally, government regulations and the need for compliance play a key role in the growth of the WAF market.
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By component, solution segment will hold larger market size during the forecast period
The solution segment is estimated to account for a larger market share among components. WAF solutions provide various features such as web application attack protection, deployment option, protocol validation, virtual remediation, active and passive authentication, URL rewriting, content routing , cookie signing and encryption, DDoS prevention, data leak prevention, and web and application server signing. Security. The solutions segment is further classified into hardware appliances, virtual appliances and cloud-based.
By Professional Services, the training and education sub-segment is expected to grow at the highest CAGR over the forecast period
The training and education segment is expected to experience the highest CAGR growth over the forecast period. Training and education services aim to provide comprehensive training sessions related to the identification and remediation of critical network infrastructure vulnerabilities. They help guide security team members and developers to understand key findings and the impact of vulnerabilities.
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By vertical, government and defense segment represents the largest market size during the forecast period
The government and defense segment is expected to hold the largest share of the WAF market. The implementation of e-governance by government agencies in several countries around the world has led to increased adoption of WAF solutions in the government and defense segment. Government and defense agencies manage highly secure and private data of individuals, departments, processes and agencies. Thus, cybersecurity is one of the most important aspects of the government vertical.
The main suppliers of web application firewall market include Imperva (US), Akamai (US), Barracuda (US), Citrix (US), Cloudflare (US), Rohde & Schwarz (Germany)Computer ergonomics (Swiss), F5 Networks (US), Fortinet (US) and Radware (Israel).
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SOURCE Markets and Markets