DDoS Protection and Mitigation Security Market worth $7.3 billion by 2027, growing at a CAGR of 13.2%: Report by MarketsandMarkets™
Chicago, March 04, 2024 (GLOBE NEWSWIRE) -- *The **DDoS Protection and Mitigation Security Market** 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™.* Growing need for securing data from vulnerabilities to fuel the adoption of DDoS protection and mitigation security solutions and services.
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318 - Pages*
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*DDoS Protection and Mitigation Security Market **Dynamics:*
*Drivers:*
1. Rise in multi-vector DDoS attacks
2. DDoS attacks during holidays
3. Ease of availability of DDoS-for-hire services
4. High demand for cloud-based and hybrid DDoS protection and mitigation security solutions
*Restraints:*
1. Budget constraints among SMEs
2. Easy availability of free and pirated DDoS protection and mitigation security solutions
*Opportunities:*
1. Increase in number of DDoS threats across IoT ecosystem
2. Need for DDoS defense solutions for 5G ecosystem
3. Highly regulated verticals and gaming sector to create attractive opportunities for DDoS vendors
4. 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)
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The scope of this report covers the DDoS Protection and Mitigation Security Market by component, application area, deployment mode, organization size, vertical and region.
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.
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By organization size, large enterprises are estimated to hold a larger market share in 2022. Large enterprises are the early adopters of DDoS protection and mitigation solutions and services. As these enterprises contain different types of IT infrastructures, they face a lot of difficulty in effectively reviewing and upgrading their current security systems due to the growing number of cyberattacks. The DDoS attack targeting large enterprises can range from 250 Mbps to 15 Gbps. The attack duration can be merely 30 minutes, which is enough for bringing the entire enterprise down. The rise in the adoption of DDoS protection solutions across large enterprises can be attributed to the increasing severity of DDoS damages caused by a single attack or accelerated traffic rate caused by new network technologies, such as high-speed 5G mobile networks.
By region, North America is estimated to account for the largest market share in 2022, and this trend is projected to continue until 2027. The US and Canada are the leading markets in this region. The market has been steadily showing positive trends in the region, as several companies and industries are adopting DDOS protection and mitigation security services and solutions at various levels as a part of their business strategy to sustain their position in the market. Due to active partnerships and the frequent release of new products by the region's leading technology companies, North America is recognized as the hub of innovation. The adoption of DDOS protection and mitigation security solutions in North America is also being fueled by the fast uptake of mobile devices like smartphones, laptops, and USBs as well as the pressing need to secure data stored inside of businesses and transported over business networks.
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