The Business Research Company’s DDoS Protection and Mitigation Security Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
— The Business Research Company
LONDON, GREATER LONDON, UK, June 18, 2024 /EINPresswire.com/ — The DDoS protection and mitigation security market size has grown rapidly in recent years. It will grow from $4.32 billion in 2023 to $4.36 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to increasing frequency and complexity of DDoS attacks, rising cybersecurity concerns, dependency on internet-based services, financial loss prevention, and global expansion of online services.
The DDoS protection and mitigation security market size is expected to see rapid growth in the next few years. It will grow to $8.70 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to IoT-related threats, edge computing and cloud services, rise in ransom DDoS attacks (RDDoS), and zero-day attack preparedness. Major trends in the forecast period include AI and machine learning advancements, increased focus on zero-trust architectures, behavioral biometrics for user authentication, 5G network preparedness, and quantum-safe cryptography.
Rising Adoption of IoT Devices Drives Market Growth
The rising adoption of IoT devices is expected to propel the growth of the DDoS protection and mitigation security market going forward. IoT, or the Internet of Things, refers to a network of interconnected devices embedded with sensors, software, and other technologies that enable them to collect and exchange data over the Internet without human intervention. IoT devices with sensors and network monitoring capabilities can analyze traffic patterns in real-time. By continuously monitoring incoming and outgoing traffic, these devices can detect anomalies and suspicious activities indicative of a DDoS attack, such as a sudden surge in traffic volume or unusual patterns of packet transmission. For instance, in August 2022, according to Akamai Technologies Inc., a US-based internet company, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion IoT connections in 2025. Therefore, the rising adoption of IoT devices drives the growth of the DDoS protection and mitigation security market.
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Major Players and Market Trends
Major companies operating in the DDoS protection and mitigation security market are integrating advanced technologies such as AI and ML to meet the growing demand for security. ML-based adaptive DDoS protection employs machine learning algorithms to identify and stop dynamic DDoS attacks quickly. For instance, in July 2023, NetScout Systems Inc., a US-based networking company, launched ML-based adaptive DDoS protection for Arbor Edge Defense (AED). This solution offers scalable and efficient stateless packet processing, leveraging decades of DDoS mitigation experience and providing real-time visibility into global DDoS attack activity.
Segments
•Component: Hardware Solution, Software Solution, Services
•Application: Network Security, Endpoint Security, Application Security, Database Security
•Vertical: Government And Defense, Banking, Financial Services And Insurance (BFSI), Manufacturing, Energy And Utility, IT And Telecommunication,
Healthcare, Education, Retail, Other Verticals
Geographical Insights: North America Leads the Market
North America was the largest region in the DDoS protection and mitigation security market in 2023. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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DDoS Protection And Mitigation Security Global Market Report 2024 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The DDoS Protection And Mitigation Security Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on DDoS protection and mitigation security market size, DDoS protection and mitigation security market drivers and trends, DDoS protection and mitigation security market major players, competitors’ revenues, market positioning, and market growth across geographies. The DDoS protection and mitigation security market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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