According to market research report "DDoS Protectionand Mitigation Market by Component (Hardware Solutions, SoftwareSolutions, and Services), Application Area (Network, Application, Database, andEndpoint), Deployment Mode, Organization Size, Vertical, and Region - GlobalForecast to 2024", publishedby MarketsandMarkets, The Distributed Denial of Service (DDoS) protection andmitigation market size is expected to grow from USD 2.4 billion in 2019 to USD4.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.0% duringthe forecast period.
The DDoSprotection and mitigation market is gaining traction due to the rise inmulti-vector DDoS attacks that cause traffic congestion by flooding networkswith numerous illegitimate network packets. The major forces driving the DDoSprotection and mitigation market are, easy availability of DDoS-for-hireservices, high demand for cloud-based and hybrid DDoS protection and mitigationsolutions and rise in the number of Internet of Things (IoT) devices. The highdemand for DDoS protection and mitigation solutions among the gaming sector isexpected to drive the DDoS protection and mitigation market over the next 5years.
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Services segment to playa key role in the DDoS protection and mitigation market
The services segment is expected to play a vital role inchanging the DDoS protection and mitigation market landscape and grow at thehighest CAGR during the forecast period. Services offered by the DDoSprotection and mitigation vendors are classified into professional and managedservices. The rise in the demand for DDoS services is due to the need toprotect websites, networks, and critical infrastructure devices, as well as, toreduce the downtime and business risks. Cyberattacks on websites are increasingat an alarming rate and have compelled organizations to adopt robust securityservices for addressing risks in the continuously evolving threat landscape.Services offered by DDoS protection and mitigation vendors help safeguardwebsites, networks, and layer 3 and layer 7 threats.
Small and Medium-sized Enterprises (SMEs) segment to grow at thefastest rate during the forecast period
In the DDoS protection and mitigation market, SMEs areexpected to be the fastest-growing segment, as these enterprises have becomethe key targets for cyber terrorists or hacktivists. SMEs need to appraisetheir security systems to effectively close the gaps that slowdown theperformance of their servers. Hence, it has become essential for SMEs toincorporate DDoS protection techniques, such as scrubbing services, BorderGateway Protocol (BGP), routing, sinkholing, null routing, and Domain NameServer (DNS) routing.
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Themarket in APAC is expected to grow at the highest CAGR between 2019 and 2024. Theprimary forces driving this growth are increasing technology adoption, hugeopportunities across the government and public sector, and an increase in thenumber of startups in APAC countries, especially India. In recent years, theAPAC region has undergone tremendous economic growth, politicaltransformations, and social changes. The region has a large number ofestablished SMEs, which are growing at an exponential rate to cater to theirlarge customer base. Due to the increasing sophistication levels of threats,countries such as China, India, and Japan have all updated or introduced newnational cybersecurity policies.
Thereport 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 majortechnology 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); DOSarrestInternet Security (Canada); NSFOCUS (US); and Seceon (US).
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