Web Application Firewall Market Size to grow by USD 12432.5 million between 2024-2028

The Web Application Firewall Market is segmented by Deployment (On-premise and Cloud), End-user (E-Commemrce, BFSI, Government, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 12432.5 million, at a CAGR of 25.2% during the forecast period. There are several companies that are contributing to the market as per this report. Prevalence of shadow IT .

By Deployment, the On-premise segment is projected to dominate the market size in 2024

In the Web Application Firewall (WAF) market, on-premise deployment held the largest market share in 2022 due to its widespread adoption by large enterprises seeking greater control and ownership over their application security. This model allows organizations to manage their software on-site, ensuring complete control over its functioning. However, growth in this segment is projected to be slower compared to cloud-based deployment during the forecast period. The primary advantage of on-premises WAF is the enhanced security it provides, as resources are accessed exclusively through a dedicated network, reducing vulnerability to security breaches. Despite the advantages, on-premises WAF implementation requires significant investment in infrastructure and maintenance.

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By End-user, E-Commemrce segment is expected to hold the largest market size for the year 2024

The e-commerce sector is expected to experience significant growth in the Web Application Firewall (WAF) market due to escalating data privacy concerns and cybersecurity risks. Hackers persistently seek vulnerabilities and weaknesses in e-commerce infrastructures, leading to potential financial and data losses for businesses. Although e-commerce players, vendors, and end-users implement preventive measures, the increasing number of e-commerce website hacking and ransomware attacks pose a significant threat. Furthermore, public cloud infrastructure, being multi-tenant, is susceptible to source code glitches, impacting various applications in the cloud environment. These factors underscore the necessity for robust WAF solutions to safeguard against cyber threats and ensure business continuity.

Why is North America forecasted to hold the largest regional market size in 2024?

The Web Application Firewall (WAF) market is experiencing significant growth due to the increasing number of cyber threats targeting web applications. Businesses are investing in WAF solutions to secure their digital assets and protect against data breaches, SQL injections, and cross-site scripting attacks. WAFs provide advanced threat protection, real-time traffic monitoring, and customizable rules to ensure business continuity and maintain regulatory compliance. The market is expected to continue expanding as organizations prioritize cybersecurity in their IT budgets.

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Research Analysis Overview

The Web Application Firewall (WAF) market is experiencing significant growth due to the increasing reliance on online services for information exchange and distribution. With the proliferation of devices such as printers, mobile devices, TVs, and other internet-connected devices, the risk of cyber threats, including fraud incidents and cyber theft, has become a major concern. As businesses move towards cloud computing and data center services, resource shortages and security vulnerabilities have become more prevalent. Cyberattacks, such as cross-site forgery, SQL injection, and file inclusion, pose a significant threat to data security. WAF solutions have emerged as a critical security measure to protect against these threats. WAFs filter and monitor incoming web traffic to prevent attacks before they reach the application layer. They offer protection against a wide range of threats, including those that exploit application vulnerabilities, such as SQL injection and cross-site scripting. The adoption of WAF solutions is becoming increasingly important during cloud migration processes and digital transformation initiatives. As businesses continue to move towards digital platforms, the need for robust security solutions to protect against cyber threats will only grow. WAFs provide a cost-effective and scalable solution to secure web applications and protect against cyberattacks.

Market Research Overview

The IT consulting and other services market, a segment of the larger IT services industry, encompasses businesses providing IT consulting, information management, and various technology-related services. According to Technavio's market analysis, this market's size is determined by the consolidated revenue generated by companies offering all types of IT consulting and information management services. Factors fueling market expansion include escalating government investments in modernizing IT infrastructure, necessitating the expertise of IT consulting firms to execute projects effectively. - The Web Application Firewall Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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