According to a recent study done by FMI, the DDoS protection and mitigation security market is expected to reach US$ 13.3 Billion by 2032, up from US$ 3.8 Billion in 2022, expanding at a high CAGR of 13.4%.
This study explains that the key factors such as growing demand for sophisticated security solutions, evolving regulatory landscape, and growing volumes of business data across industries are expected to accelerate the DDoS protection and mitigation market during the forecast period.
The IoT ecosystem consists of numerous connected devices, gateways, servers, and other endpoints. With IoT gaining traction in a multitude of industries, such as smart manufacturing, healthcare, and connected vehicles, and expanding the scope of its applications, the network in use is growing complex and number of devices in the connected ecosystem is multiplying. With changes in the business environment, security requirements are also changing.
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Instances of massive DDoS attacks are gradually increasing across the globe. The attackers are using sophisticated tools to induce attacks, which may go undetected during initial phases.
Some of the significant DDoS attacks include Domain Name System (DNS) amplification attacks, NTP attacks, and Chargen-focused attacks. The multiple attack techniques used by hacktivist groups are leading to a huge financial loss for individuals, enterprises, and governments. Hence, deployment of DDoS protection and mitigation software in various industries is rising.
Know More About What the DDoS Protection and Mitigation Security Market Repost Covers
Future Market Insights offers an unbiased analysis of the global DDoS Protection and Mitigation Security Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the DDoS Protection and Mitigation Security Market, the market is segmented on the basis of component, application area, deployment mode, and vertical across five major regions.
Key Takeaways from the Market Study
- Global DDoS protection and mitigation security market was valued at US$ 3.8 Billion by 2022-end
- The US to account for the highest value share of US$ 4.7 Billion of global market demand for DDoS protection and mitigation security market in 2032
- From 2015 to 2021, DDoS protection and mitigation security demand expanded at a CAGR of 15.4%
- By Component, the Services category constitutes the bulk of DDoS Protection and Mitigation Security Market with a CAGR of 13.1%.
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Competitive Landscape
Players in the global DDoS Protection and Mitigation Security Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships.
The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
- In August 2021, Radware had partnered with hybrid infrastructure solutions provider INAP to provide global cloud web application security and protection against distributed denial of service (DDoS) attacks. INAP will deploy Radware’s security protections to organizations across various industries, including ad tech, healthcare, entertainment and gaming, financial services, ISF, and software as a service, amongst others.
- In March 2022, Corero Network Security provider of real-time, high-performance DDoS cyber defense solutions extended its automatic protection against Botnet and Carpet Bomb attacks. The company’s mission is to make the internet a safer place to do business by protecting against the disruption and downtime caused by DDoS attacks.
- In February 2022, Radware acquired SecurityDAM for USD 30 million with contingent payments of up to USD 12.5 million for Radware’s cloud DDoS protection service after the deal.
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Key Segments Covered in the DDoS Protection and Mitigation Security Market Report
DDoS Protection and Mitigation Security Market by Component:
- DDoS Protection and Mitigation Security Hardware Solutions
- DDoS Protection and Mitigation Security Software Solutions
- DDoS Protection and Mitigation Security Services
- Professional Services
- Managed Services
DDoS Protection and Mitigation Security Market by Application Area:
- DDoS Protection and Mitigation for Network Security
- DDoS Protection and Mitigation for Endpoint Security
- DDoS Protection and Mitigation for Application Security
- DDoS Protection and Mitigation for Database Security
DDoS Protection and Mitigation Security Market by Deployment Mode:
- On-premise DDoS Protection and Mitigation Security
- Cloud-based DDoS Protection and Mitigation Security
- Hybrid DDoS Protection and Mitigation Security
DDoS Protection and Mitigation Security by Vertical
- DDoS Protection and Mitigation Security for Government and Defense
- DDoS Protection and Mitigation Security for BFSI
- DDoS Protection and Mitigation Security for Manufacturing
- DDoS Protection and Mitigation Security for Energy and Utility
- DDoS Protection and Mitigation Security for IT and Telecommunication
- DDoS Protection and Mitigation Security for Healthcare
- DDoS Protection and Mitigation Security for Education
- DDoS Protection and Mitigation Security for Retail
- DDoS Protection and Mitigation Security for Other Verticals
DDoS Protection and Mitigation Security Market by Region:
- North America DDoS Protection and Mitigation Security Market
- Latin America DDoS Protection and Mitigation Security Market
- Europe DDoS Protection and Mitigation Security Market
- Asia Pacific DDoS Protection and Mitigation Security Market
- Middle East and Africa DDoS Protection and Mitigation Security Market
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