The global WAF market size is estimated to be USD 5.8 billion in 2022 and is projected to reach USD 13.8 billion by 2027, at a CAGR of 18.9% during the forecast period. Rising instances of web attacks, such as cyber theft, espionage, vandalism, and fraud is one of the key factors driving market growth.
The key market players that dominate the WAF market include Imperva (US), Akamai (US), Barracuda (US), Citrix (US), Cloudflare (US), Rohde & Schwarz (Germany), Ergon Informatik (Switzerland), F5 Networks (US), Fortinet (US), and Radware (Israel). These players have adopted various strategies such as new product launches and enhancements, partnerships, collaborations, and acquisitions to grow in the WAF market.
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Imperva is a global provider of cybersecurity solutions and services that protect business-critical websites, applications, and databases. The company specializes in Distributed Denial of Service (DDoS) protection, application security, database security, file security, cloud security, breach prevention, and cybersecurity platforms. Imperva’s product line delivers cloud-based website security, DDoS protection, and performance solutions that do not require software or hardware changes. It offers a cloud-based WAF, Imperva WAF, that provides enterprise-class protection against the most sophisticated security threats. It is a key component of a comprehensive Web Application and API Protection (WAAP) stack that secures from edge to database. In May 2021, Imperva acquired CloudVector, a leader in advanced API security. The acquisition would enhance Imperva’s API Security to discover, monitor, and protect all API traffic in any environment from exploits and breaches.
Akamai is a global provider of Content Delivery Network (CDN) services. The company offers a cloud delivery platform for optimizing and securing content and business applications over the internet in the US and other operational regions across the globe. It provides a suite of security, compute, and delivery solutions that protect customers during online activities, such as online shopping, online gaming, sharing ideas, and managing money. The company offers a wide range of cloud delivery products and services, including advanced web performance solutions, mobile performance solutions, cloud security solutions, network operator solutions, cloud networking solutions, and media delivery solutions. In May 2022, Akamai partnered with the Australia and New Zealand division of Fujitsu to help organizations defend against the threat of ransomware and cybersecurity attacks.
Web Application Firewall Market by Component (Solutions (Hardware Appliances, Virtual Appliances, Cloud-Based) and Services (Professional and Managed)), Organization Size (SMEs and Large Enterprises), Vertical and Region - Global Forecast to 2027
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