GITNUX MARKETDATA REPORT 2024

Web Application Firewall Industry Statistics

The Web Application Firewall industry is expected to experience considerable growth in the coming years due to the increasing number of cyber threats and growing awareness about the importance of web security.

Highlights: Web Application Firewall Industry Statistics

  • As per Markets And Markets, the application firewall market size is expected to grow from USD 2.37 Billion in 2017 to USD 5.48 Billion by 2022.
  • The Compound Annual Growth Rate (CAGR) during this period is projected to be 18.3%.
  • The largest market share in the web application firewall industry belongs to the solutions segment.
  • According to Allied Market Research, the hardware segment is the highest contributor to the revenue among all the components.
  • The Asia Pacific region is expected to witness the highest growth rate in the web application firewall market.
  • The BFSI sector holds the largest market share in the web application firewall market.
  • According to MI report, Amazon Web Services, Barracuda Networks, Citrix Systems, & Radware are the leading players in the web application firewall market.
  • Cloud-based web application firewall is the fastest-growing deployment type.
  • According to Zion Market Research, the global demand for web application firewall market was valued at approximately USD 2.9 billion in 2018.
  • The global web application firewall market is expected to generate revenue of around USD 12.9 billion by the end of 2026.
  • According to MRFR, North America has the largest market share in the global web application firewall market.
  • Fortune Business Insights states that the global web application firewall market size was USD 2.57 billion in 2019.
  • According to a report by Grand View Research, Inc., global web application firewall market size is expected to reach USD 8.61 billion by 2025.
  • One research suggests that 34% of data breaches directly involved web applications.
  • SMEs held 60% market revenue share in the global web application firewall market in 2019.
  • The Software as a Service (SaaS) segment is expected to witness the highest growth rate during the forecast period.
  • Akamai Technologies, Imperva, F5 Networks, and Fortinet are amongst the key players in the web application firewall market.
  • By the end of 2024, the global web application firewall market is expected to reach a valuation of USD 1.4 Billion.

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The Latest Web Application Firewall Industry Statistics Explained

As per Markets And Markets, the application firewall market size is expected to grow from USD 2.37 Billion in 2017 to USD 5.48 Billion by 2022.

This statistic indicates that the application firewall market is projected to experience significant growth over a five-year period according to Markets And Markets. The market size is expected to more than double, increasing from USD 2.37 Billion in 2017 to USD 5.48 Billion by 2022. This growth suggests a rising demand for application firewall technology as organizations seek to bolster their cybersecurity measures and protect their digital assets against cyber threats. The increasing adoption of cloud-based applications, IoT devices, and the rise in cyber attacks may be driving the need for more robust application firewall solutions, fueling the market growth.

The Compound Annual Growth Rate (CAGR) during this period is projected to be 18.3%.

The Compound Annual Growth Rate (CAGR) projected to be 18.3% for this period indicates the expected average annual growth rate of a specific entity over a certain time frame. The CAGR is a useful metric for investors and decision-makers as it provides a simplified representation of the consistent rate at which the entity is growing or declining yearly, assuming it continues at the same pace throughout the period. In this case, a CAGR of 18.3% implies a robust and rapid growth trend, which may present lucrative investment opportunities or signify strong performance for the entity in question.

The largest market share in the web application firewall industry belongs to the solutions segment.

The statistic stating that the largest market share in the web application firewall industry belongs to the solutions segment indicates that among all the different types of offerings in the industry, solutions specifically designed to address web application security have captured the highest proportion of the market. This suggests that consumers are more inclined towards implementing dedicated web application firewall solutions as opposed to other types of products such as cloud-based solutions or hardware appliances. This information highlights the competitive strength and popularity of solutions tailored for securing web applications, indicating a strong demand and trust from customers in this particular segment of the industry.

According to Allied Market Research, the hardware segment is the highest contributor to the revenue among all the components.

The statistic indicates that the hardware segment plays a significant role in generating revenue compared to other components within the market. Based on the data from Allied Market Research, it can be inferred that the hardware sector, which likely includes physical items such as devices, machinery, or equipment, is the primary source of income within the industry being analyzed. This suggests that companies operating in the hardware segment are experiencing higher sales or demand compared to those in other components. As a result, understanding the market trends and consumer preferences specific to the hardware segment becomes crucial for businesses looking to capitalize on this revenue-driving segment effectively.

The Asia Pacific region is expected to witness the highest growth rate in the web application firewall market.

The statistic “The Asia Pacific region is expected to witness the highest growth rate in the web application firewall market” indicates that the demand for web application firewalls in the Asia Pacific region is projected to increase at a faster pace compared to other regions. This growth may be driven by factors such as the rising adoption of digital technologies, increasing internet penetration, and a growing number of cyber threats targeting businesses in the region. As companies in the Asia Pacific region seek to enhance their cybersecurity posture and protect their web applications from vulnerabilities and attacks, the market for web application firewalls is projected to experience significant expansion, positioning the region as a key growth area for this particular cybersecurity product.

The BFSI sector holds the largest market share in the web application firewall market.

The statement “The BFSI sector holds the largest market share in the web application firewall market” implies that within the market for web application firewalls, the Banking, Financial Services, and Insurance (BFSI) sector has a dominance in terms of usage or adoption of these security solutions. This statistical finding suggests that the BFSI sector is prioritizing the implementation of web application firewalls to protect their online applications, data, and systems from cyber threats and attacks. This sector’s substantial market share could be attributed to the high value of sensitive financial and personal information they handle, making them a primary target for cybercriminals, hence the increased investment in robust cybersecurity measures like web application firewalls.

According to MI report, Amazon Web Services, Barracuda Networks, Citrix Systems, & Radware are the leading players in the web application firewall market.

The statistic cited from the MI report indicates that Amazon Web Services, Barracuda Networks, Citrix Systems, and Radware are the prominent companies in the web application firewall market. These players have established themselves as key industry leaders offering web application security solutions to businesses. Their strong market presence and comprehensive range of products and services contribute to their positions as top players in this competitive market. This information suggests that these companies are likely to have a significant market share and influence in shaping the web application firewall industry.

Cloud-based web application firewall is the fastest-growing deployment type.

This statistic indicates that cloud-based web application firewalls (WAFs) are experiencing a notable surge in adoption and growth compared to other deployment types. WAFs play a critical role in protecting web applications from a variety of cyber threats, including SQL injection, cross-site scripting, and other vulnerabilities. The increasing preference for cloud-based WAF deployments can be attributed to factors such as scalability, flexibility, and cost-effectiveness. Organizations are recognizing the advantages of leveraging cloud-based WAF solutions to enhance their cybersecurity posture, especially as they increasingly rely on cloud services and web applications to conduct their business operations. This trend underscores the growing importance of robust security measures to safeguard digital assets in the ever-evolving cyber threat landscape.

According to Zion Market Research, the global demand for web application firewall market was valued at approximately USD 2.9 billion in 2018.

This statistic from Zion Market Research states that the global market demand for web application firewalls reached a value of around USD 2.9 billion in 2018. This figure indicates the total amount spent by consumers worldwide on web application firewall products and services during that year. Web application firewalls are security systems designed to protect web applications from cyber threats such as hacking attempts and data breaches. The substantial market value illustrates the growing importance placed on cybersecurity measures and the increasing recognition of the need to secure web applications against evolving online threats. The statistic suggests a significant market opportunity and demand for web application firewall solutions in response to the escalating risks and vulnerabilities faced by organizations in the digital age.

The global web application firewall market is expected to generate revenue of around USD 12.9 billion by the end of 2026.

The statistic indicates that the global web application firewall market is projected to reach a revenue of approximately USD 12.9 billion by the end of 2026. This forecasts a significant growth in the demand for web application firewall solutions over the coming years. Factors such as the increasing number of cyber threats, data breaches, and stringent regulatory requirements are expected to drive the adoption of web application firewalls by businesses across various industries. This growth projection suggests a growing recognition of the importance of securing web applications and protecting sensitive data from unauthorized access, highlighting the need for robust cybersecurity measures in the digital landscape.

According to MRFR, North America has the largest market share in the global web application firewall market.

The statistic, indicating that North America holds the largest market share in the global web application firewall market as reported by MRFR, highlights the dominant position of this region in the cybersecurity industry. This information suggests that North America outperforms other regions in terms of adoption and demand for web application firewalls, which are critical security solutions for protecting online applications and data from cyber threats. Factors contributing to North America’s leading market share may include the region’s strong emphasis on cybersecurity measures, a high number of established enterprises with significant online presence, and advanced technological infrastructure supporting the deployment of web application firewall solutions. This statistic underscores the importance of North America as a key player in the global web application firewall market.

Fortune Business Insights states that the global web application firewall market size was USD 2.57 billion in 2019.

The statistic provided by Fortune Business Insights indicates that the global web application firewall market was valued at USD 2.57 billion in 2019. This figure represents the total financial value of the market for web application firewall products and services across the globe in that specific year. Web application firewalls are security solutions designed to protect web applications from various types of cyber threats, such as attacks, data breaches, and unauthorized access. The market size of USD 2.57 billion highlights the significant demand for web application firewall technologies among businesses and organizations to safeguard their online assets and sensitive information from cyber threats and attacks.

According to a report by Grand View Research, Inc., global web application firewall market size is expected to reach USD 8.61 billion by 2025.

The statistic provided indicates that the global web application firewall market is projected to grow significantly, with an expected market size of USD 8.61 billion by the year 2025, as stated in a report by Grand View Research, Inc. This forecast suggests a potential increase in the demand for web application firewall services, which are designed to protect web applications from cyber threats and attacks. The anticipated growth in market size reflects a rising awareness among businesses and organizations about the importance of securing their web applications against malicious activities, such as data breaches and unauthorized access. This statistic underscores the evolving landscape of cybersecurity and the continued efforts to safeguard online assets from potential risks and vulnerabilities.

One research suggests that 34% of data breaches directly involved web applications.

The statistic stating that 34% of data breaches directly involved web applications indicates the significant role that web applications play in cybersecurity incidents. This finding suggests that a substantial portion of data breaches can be attributed to vulnerabilities within web applications, highlighting the importance of prioritizing security measures for this technology. Organizations should focus on implementing robust security protocols, conducting regular vulnerability assessments, and staying updated with the latest security practices to mitigate the risk of potential data breaches originating from web applications. By addressing these vulnerabilities proactively, businesses can enhance their cybersecurity posture and protect sensitive data from unauthorized access or exploitation.

SMEs held 60% market revenue share in the global web application firewall market in 2019.

This statistic indicates that small and medium-sized enterprises (SMEs) collectively accounted for 60% of the total market revenue in the global web application firewall market in the year 2019. This implies that SMEs played a significant role in driving revenue and growth within the web application firewall sector during that time period. It suggests that the demand for web application firewall solutions was substantial among SMEs, potentially due to an increasing awareness of cybersecurity threats and the need to protect their web applications from potential cyber attacks. Overall, this statistic highlights the importance of SMEs in shaping the market dynamics and driving revenue in the web application firewall industry in 2019.

The Software as a Service (SaaS) segment is expected to witness the highest growth rate during the forecast period.

This statistic indicates that the Software as a Service (SaaS) segment is projected to experience the most significant increase in market share or revenue compared to other segments within a given industry or market over a specified forecast period. This suggests a growing demand for SaaS solutions among consumers or businesses, leading to an optimistic outlook for the SaaS industry in terms of its expansion and profitability. Factors driving this anticipated growth may include the increasing adoption of cloud computing technologies, the convenience and cost-effectiveness of SaaS solutions, and the evolving needs of customers seeking flexible and scalable software options.

Akamai Technologies, Imperva, F5 Networks, and Fortinet are amongst the key players in the web application firewall market.

The statistic mentioning Akamai Technologies, Imperva, F5 Networks, and Fortinet as key players in the web application firewall market indicates that these companies are significant and influential within this particular industry sector. As key players, they are likely to have a strong market presence, brand recognition, and technological expertise in providing web application firewall solutions. This suggests that they are important contenders in the competitive landscape of web security services, potentially commanding a notable share of the market and standing out for their innovative products and services tailored to protect against online threats targeting web applications.

By the end of 2024, the global web application firewall market is expected to reach a valuation of USD 1.4 Billion.

The statistic stating that the global web application firewall market is projected to reach a valuation of USD 1.4 billion by the end of 2024 indicates the anticipated growth and size of this specific market segment. A web application firewall is a crucial cybersecurity tool that helps protect web applications from various cyber threats and attacks. The projected valuation signifies the increasing importance and adoption of web application firewalls by organizations worldwide as they strive to enhance their cybersecurity posture and protect sensitive data. This statistic suggests a growing demand for web application firewall solutions driven by the rising frequency and sophistication of cyber threats, highlighting the ongoing focus on cybersecurity measures in the digital age.

References

0. – https://www.www.grandviewresearch.com

1. – https://www.www.marketresearchfuture.com

2. – https://www.www.mordorintelligence.com

3. – https://www.www.databreachtoday.com

4. – https://www.www.categorymanagementassociation.org

5. – https://www.www.zionmarketresearch.com

6. – https://www.www.globenewswire.com

7. – https://www.www.fortunebusinessinsights.com

8. – https://www.www.marketsandmarkets.com

9. – https://www.www.alliedmarketresearch.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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