DUBLIN–(BUSINESS WIRE)–The “DDoS Protection and Mitigation Market by Component (Hardware Solutions, Software Solutions, and Services), Application Area, Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The exponential rise in multi-vector DDoS attacks and ease of availability of DDoS-for-hire services to drive the overall DDoS protection and mitigation market
The global 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 major factors driving the growth of the DDoS protection and mitigation market include the increasing Internet of Things (IoT) and cryptocurrency-focused DDoS threats, and rising awareness among enterprises about the changing threat landscape, and growing need to have a disaster recovery plan in place before DDoS attacks impact businesses to a great extent. Due to the advent of digitalization, increase in computational power of processors, and rise in the number of connected devices, the instances of cyberattacks have increased considerably in recent times.
Hardware solutions segment to hold a larger market size during the forecast period
The DDoS protection and mitigation market by component has been segmented into hardware solutions and software solutions and services. DDoS solutions play a significant role in keeping the data, servers, endpoints, cloud, and organization infrastructure safeguarded from attackers. A critical attack that is intended to disrupt the functioning of an organization is termed as a DDoS attack. These attacks have become a real threat to organizations.
Organizations need to forestall their applications, network solutions, and services to combat the evolving sophisticated DDoS attacks. DDoS attacks affect the application layer, protocol layer, and also the bandwidth of the network. Organizations use DDoS protection and mitigation solutions and services for adaptive defense against DDoS attacks. The attacks affect the confidentiality, integrity, and availability of resources, which may result in million-dollar losses for organizations.
DDoS attacks can be dealt with DDoS hardware protection solutions. Hardware appliances are configured in the local network or in data centers to protect the organization’s network from evolving sophisticated threats. These hardware solutions are easy to install and suitable for high-volume amplified traffic, which requires a high throughput. The hardware solutions are set up at a remote network and can be managed in the data center hosting environment itself.
The hardware solutions ensure network connectivity and eliminate the downtime in case of power or equipment failures and during maintenance. These solutions can be easily moved and reconfigured with minimal interference in the network infrastructure. DDoS protection appliances provide effective protection against cyberattacks, such as advanced Domain Name System (DNS) DDoS, and layer 4 and layer 7 volumetric assaults.
Among deployment modes, hybrid deployment segment to grow at the highest CAGR during the forecast period
Under deployment mode, DDoS protection and mitigation market is segmented by on-premises, cloud, and hybrid. The hybrid deployment type is set to grow at the highest CAGR during the forecast period. The hybrid deployment mode enables organizations to keep their critical data inside the organization premises and transfer the non-critical data to the cloud environment. The hybrid deployment mode also offers other features, such as advanced protocol anomaly detection, blocking of suspicious Internet Protocol (IP), and cloud mitigation capabilities.
Hybrid deployment enables the Information Technology (IT) staff to have clear visibility into the stored data and provides DDoS protection and mitigation in real-time. A large number of DDoS attacks have been left undetected by on-premises and cloud-based solutions, and enterprises lack the capability to detect and mitigate them. Hence, many enterprises are moving toward the hybrid deployment mode.
North America to account for the largest market size, whereas APAC to grow at the highest CAGR
North America is projected to hold the largest market size of the DDoS protection and mitigation market during the forecast period, owing to the early adoption of the DDoS protection and mitigation solutions in the region. The DDoS market is evolving in the North American region because it is technologically advanced and tops the world in terms of the presence of security vendors and DDoS incidents. The increased instances of volumetric DDoS incidents in the country, and need to protect critical network infrastructures, and sensitive data have made the region adopt these next-generation technologies.
The growing trends, such as IoT, Internet of Everything (IoE), and penetration of smartphones, have increased the volume of data and transactions performed by online users. The rise in threats and vulnerabilities and government compliances has made North America the most lucrative industry for different categories of vendors. The concentrated presence of a large number of DDoS protection and mitigation solution and services providers in the US is also expected to drive revenue growth from the region. The APAC market is expected to grow at the highest CAGR during the forecast period, as countries in this region are investing heavily in deploying DDoS protection and mitigation solutions and services to combat the accelerated traffic rate brought by new network technologies that induce DDoS attacks.
- Rise in Multi-Vector DDoS Attacks
- Ease of Availability of DDoS-For-Hire Services
- High Demand for Cloud-Based and Hybrid DDoS Protection and Mitigation Solutions
- Budget Constraints Among SMES
- Easy Availability of Free and Pirated DDoS Protection and Mitigation Solutions
- Increase in Number of DDoS Threats Across IoT Ecosystem
- Need of DDoS Defense Solutions for 5g Ecosystem
- Highly Regulated Verticals and Gaming Sector to Create Attractive Opportunities for DDoS Vendors
- Rising DDoS Threats on Cryptocurrency Exchange Entities
- Sweep Period of Attacks, Large-Scale Traffic Defense With Zero Latency, and Ssl Encrypted Attacks in the DDoS Area
- Dearth of Security Skills Among Security Professionals and Lack of Pre-Planning Among Enterprises
- National Credit Union Administration
- Federal Financial Institutions Examination Council
- General Data Protection Regulation
High-Impact DDoS Attacks in Recent Times
Best Practices for DDoS Protection and Mitigation
- Need for the Best-In-Class DDoS Attack Mitigation Solution for a Healthcare Organization in the United States
- Deployment of DDoS Protection and Mitigation Solutions Across the Gaming Industry
- Need of DDoS Protection and Mitigation Solution for Virtual Private Server and Cloud Service Providers
- Dependence of Leading IT and Telecom Company on DDoS Protection and Mitigation Solution
- Adoption of Cloud-Based DDoS Solutions By Mobile Encryption Company in Canada
- Adoption of DDoS Protection and Mitigation Solution in the Middle East
- Leading Medical and Scientific Publication House Adopted DDoS Solution
- Bitcoin Exchange Entity in Asia Pacific Targeted By DDoS Attack
- F5 Networks
- Corsa Technology
- A10 Networks
- Akamai Technologies
- DOSarrest Internet Security
- Flowmon Networks
- Huawei Technologies
For more information about this report visit https://www.researchandmarkets.com/r/soo19q
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: IT Security