According to market research report "DDoS Protection
and Mitigation Market by Component (Hardware Solutions, Software
Solutions, and Services), Application Area (Network, Application, Database, and
Endpoint), Deployment Mode, Organization Size, Vertical, and Region - Global
Forecast to 2024", published
by MarketsandMarkets, The Distributed Denial of Service (DDoS) protection and
mitigation market size is expected to grow from USD 2.4 billion in 2019 to USD
4.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.0% during
the forecast period.
The DDoS
protection and mitigation market is gaining traction due to the rise in
multi-vector DDoS attacks that cause traffic congestion by flooding networks
with numerous illegitimate network packets. The major forces driving the DDoS
protection and mitigation market are, easy availability of DDoS-for-hire
services, high demand for cloud-based and hybrid DDoS protection and mitigation
solutions and rise in the number of Internet of Things (IoT) devices. The high
demand for DDoS protection and mitigation solutions among the gaming sector is
expected to drive the DDoS protection and mitigation market over the next 5
years.
Browse and
in-depth TOC on “DDoS Protection and Mitigation Market”
82 - Tables
50
- Figures
176
- Pages
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Services segment to play
a key role in the DDoS protection and mitigation market
The services segment is expected to play a vital role in
changing the DDoS protection and mitigation market landscape and grow at the
highest CAGR during the forecast period. Services offered by the DDoS
protection and mitigation vendors are classified into professional and managed
services. The rise in the demand for DDoS services is due to the need to
protect websites, networks, and critical infrastructure devices, as well as, to
reduce the downtime and business risks. Cyberattacks on websites are increasing
at an alarming rate and have compelled organizations to adopt robust security
services for addressing risks in the continuously evolving threat landscape.
Services offered by DDoS protection and mitigation vendors help safeguard
websites, networks, and layer 3 and layer 7 threats.
Small and Medium-sized Enterprises (SMEs) segment to grow at the
fastest rate during the forecast period
In the DDoS protection and mitigation market, SMEs are
expected to be the fastest-growing segment, as these enterprises have become
the key targets for cyber terrorists or hacktivists. SMEs need to appraise
their security systems to effectively close the gaps that slowdown the
performance of their servers. Hence, it has become essential for SMEs to
incorporate DDoS protection techniques, such as scrubbing services, Border
Gateway Protocol (BGP), routing, sinkholing, null routing, and Domain Name
Server (DNS) routing.
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Asia Pacific (APAC) to grow at the highest CAGR during the
forecast period
The
market in APAC is expected to grow at the highest CAGR between 2019 and 2024. The
primary forces driving this growth are increasing technology adoption, huge
opportunities across the government and public sector, and an increase in the
number of startups in APAC countries, especially India. In recent years, the
APAC region has undergone tremendous economic growth, political
transformations, and social changes. The region has a large number of
established SMEs, which are growing at an exponential rate to cater to their
large customer base. Due to the increasing sophistication levels of threats,
countries such as China, India, and Japan have all updated or introduced new
national cybersecurity policies.
The
report encompasses the different strategies, such as mergers and acquisitions,
partnerships and collaborations, business expansions, and product developments,
adopted by the major players to increase their market share. Some of the major
technology vendors in the DDoS protection and mitigation are NETSCOUT (US);
Akamai Technologies (US); Imperva (US); Radware (Israel); Corero Network Security
(US); Cloudflare (US); Link11 (Germany), Nexusguard (Hong Kong); A10 Networks,
(US); Fortinet (US); Huawei Technologies (China); Verisign (US); Sucuri (US);
SiteLock (US); Flowmon Networks (Czech Republic); StackPath, (US); DOSarrest
Internet Security (Canada); NSFOCUS (US); and Seceon (US).
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