According to a research report "DDoS Protection and Mitigation Security Market by Component, Application Area (Network Security, Application Security, Endpoint Security), Deployment Mode, Organization Size, Vertical (BFSI, Healthcare, IT Telecom) and Region - Global Forecast to 2027" published by MarketsandMarkets, the 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. 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.
DDoS Protection and Mitigation Security Market Dynamics:
Drivers:
- Rise in multi-vector DDoS attacks
- DDoS attacks during holidays
- Ease of availability of DDoS-for-hire services
- High demand for cloud-based and hybrid DDoS protection and mitigation security solutions
Restraints:
- Budget constraints among SMEs
- Easy availability of free and pirated DDoS protection and mitigation security solutions
Opportunities:
- Increase in number of DDoS threats across IoT ecosystem
- Need for DDoS defense solutions for 5G ecosystem
- Highly regulated verticals and gaming sector to create attractive opportunities for DDoS vendors
- Rising DDoS threats on cryptocurrency exchange entities
List of Key Companies in DDoS Protection and Mitigation Security Market:
- 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 (Singapore)
- Corero (UK)
- RioRey (US)
- PhoenixNAP (US)
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.
The services offered by DDoS protection and mitigation vendors help safeguard websites, networks, layer three and layer seven threats. DDoS services protect websites, networks, and critical infrastructure devices, as well as reduce downtime and business risks. The DDoS service providers are continuously integrating advanced technologies to stop such DoS/DDoS attacks. Additionally, they provide support services and access to a 24/7 DDoS response team.
By deployment mode, hybrid mode is projected to register the highest CAGR during the forecast period.
The hybrid deployment mode is a combination of on-premises and cloud deployment modes. The hybrid deployment mode is expected to gain pace in the DDoS protection and mitigation market, as mitigating all sorts of DDoS attacks is a challenging task. Hybrid deployment safeguards the critical enterprise data on-premises and stores the other data in the cloud environment. Hybrid deployment solutions protect the organization’s IT infrastructure from multi-vector DDoS attacks before it snowballs into a huge problem. The hybrid deployment mode also offers other features, such as advanced protocol anomaly detection, blocking of suspicious IP, and cloud mitigation capabilities.
Asia Pacific is likely to emerge as fastest-growing market during forecast period
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.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
