Web Application Firewall Market size is valued at USD 5,942.2 million in 2021 and is expected to grow at a CAGR of 19.2% during the forecast period 2022 to 2028. The global market provides a detailed overview and which can be segmented by component, professional service, application, and region. By component, the web application firewall market has been segmented into services and solutions. By professional service, the web application firewall market has been segmented into support & maintenance, system integration, consulting, training & education. Based on the application, the web application firewall market has been segmented into aerospace & defense, bfsi, public sector, retail, healthcare, it & telecom, energy & utilities, manufacturing, and others. The healthcare segment is expected to have significant growth over the forecasted period owing to the technological advancements in healthcare sectors worldwide. Next-generation cybersecurity solutions integrated with advanced technologies, such as ML and behavioural analytics, provide cutting-edge threat protection to combat APTs, by integrating real-time contextual awareness, automating intelligent security, and providing a fast response and low cost of ownership. These next-generation web application firewall solutions influence advanced technological concepts, such as ML and AI, to proactively determine the root cause of the threat and help protection to critical information at networks and application layers.
In April 2022, KKR, a leading global investment firm, signed an agreement to acquire Barracuda from Thoma Bravo, its parent company. Under the agreement, KKR would provide resources and expertise to further accelerate Barracuda’s growth and support its strategic expansion in the market.
In March 2022, Cloudflare expanded its partnership with CrowdStrike to bring integrated Zero Trust Security to simplify the adoption of Zero Trust solutions for IT teams. Cloudflare would integrate its Zero Trust platform with CrowdStrike Falcon Zero Trust Assessment (ZTA) to ensure employees have secure access to applications from any location.