DDOS Protection and Mitigation Security Market worth $7.3 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 19, 2023 /PRNewswire/ -- The Global DDOS Protection and Mitigation Security Market is expected to grow from USD 3.9 billion in 2022 to USD 7.3 billion by 2027, at a CAGR of 13.2% during the forecast period, according to a new report by MarketsandMarkets™. The DDoS-for-hire services target Software-as-a-Service (SaaS)-based enterprises and eCommerce customers on a large scale, these services are available at a low cost, and the payment modes include cryptocurrency and PayPal. These factors are expected to have increased the adoption of DDoS protection and mitigation solutions and services across enterprises.
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By component, services segment is expected to register the fastest growth rate during the forecast period.
With the increasing adoption of DDoS solutions across organizations and service providers, the demand for supporting services is also expected to increase among organizations. As most businesses lack the technical expertise to manage their network infrastructure and application-layer attacks, professional service providers offer ways to overcome this problem.
By vertical, BFSI is estimated to account for largest market share in 2022
The BSFI institutions face distinctive challenges related to economic risks, such as loss of financial data and customer information for internal and external transactions in case of network failure. These networks are exposed to threats because of network tampering or cyberattacks, which may lead to network failure or financial instability. The rise in the adoption of BYOD and work from home trends and the increasing number of botnet and Mirai botnet attacks due to IoT, cloud storage data leaks, and fragile data center security have placed the BFSI infrastructure at risk. Therefore, DDoS protection and mitigation solutions would play a crucial role in the BFSI vertical.
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Asia Pacific is likely to emerge as fastest-growing market during forecast perid
Asia Pacific is projected to be the fastest-growing market for DDOS protection and mitigation security solutions due to the adoption of new technologies, rising investments in digital transformation, and growing GDP in the Asia Pacific countries. Developed economies, such as China, Japan, and India, which are the most technologically advanced, are the highest contributors to the DDOS Protection and Mitigation Security Market in the region. According to NETSCOUT attacks in Asia Pacific increased by 7% as other regions subsided. Amid ongoing geopolitical tensions in China, Hong Kong, and Taiwan, the Asia Pacific region saw the most significant increase in attacks year over year compared to other regions. Thus, promoting rapid adoption of DDOS protection and mitigation security solutions in the region.
The major vendors covered in the DDOS Protection and Mitigation Security Market include NetScout (US), Akamai (US), Radware (Israel), Huawei Technology (China), Fortinet (US), Link11 (Germany), Imperva (US), Cloudflare (US), BT (England), A10 Networks (US), Fastly (US), Nexusguard (China), Corero (UK), RioRey (US), PhoenixNAP (US), Allot (Israel), StrataCore (US), Sucuri (US), Verisign (US), StackPath (US), Seceon (US), Haltdos (India), DDoS-Guard (Russia), Indusface (India), Activereach (UK), and Mlytics (Singapore).
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