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DDoS Protection and Mitigation Market is projected to reach US$6 billion by 2026 and is estimated to grow at a CAGR of 14% during the forecast period 2021-2026.
HYDERABAD, TELANGANA, INDIA, September 28, 2022 / / -- is projected to reach US$6 billion by 2026 and is estimated to grow at a CAGR of 14% during the forecast period 2021-2026. The alarming growth in the number of multi-vector DDoS attacks such as network time protocol (NTP) amplification attack, Memcached DDoS attack overwhelming the victim's server or network with flood of traffic to exhaust the target's resources to create a denial of service has contributed to the growth of the market. According to reports, 1/3 of downtime incidents are attributed to Distributed denial-of-service attack. With the increase in security breaches in BFSI sector the demand for mitigation of incoming cyber threats is analyzed to stimulate the market during the forecast period 2021-2026. According to reports in February, 2020 Amazon Web Services Shield, a managed DDoS protection service mitigated the largest DDoS attack of 2.3 Tbps.
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Key takeaways:
This IndustryARC report on the DDoS Protection and Mitigation market highlights the following areas -
1. Solution segment is estimated to dominate the market during 2021-2026 due to rising demand for mitigating risks associated with incoming sophisticated cyber threats.
2. BFSI sector is analyzed to hold the major market share of 14% by 2026 owing to alarming growth in number of cyber-attacks.
3. North America is estimated to dominate the market by 2026 owing to high number of DDoS attacks and high investments towards IT infrastructure and security.
4. Alarming growth in number of DDoS threats and attacks owing to rapid digital transformation across various industry verticals is boosting the market.
High cost is one of the challenges impeding the growth of the market.
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Segmental Analysis:
1. By offering, DDoS Protection and Mitigation Market has been segmented under solution and services. The solution segment dominated the market in 2020 acquiring a share of 56% and is estimated to grow at a CAGR 9.56% during the forecast period, 2021-2026 owing to increasing demand for filtering traffic to identify and mitigate the incoming threat for protecting the server and the network from a distributed denial-of service attack.
2. By Geography, DDoS Protection and Mitigation Market has been segmented under North America, Europe, APAC, South America and RoW. North America dominated the market acquiring a share of 25% in 2020 and is estimated to hold the major market share with a CAGR 8.3% during 2021-2026 owing to high investment in IT infrastructure and security and a growing number of DDoS attacks in this region.
3. By industry vertical, DDoS Protection and Mitigation Market has been segmented under Banking, Financial Services and Insurance (BFSI), Telecommunications and IT, Healthcare, General Manufacturing, Power, Utility, Oil & Gas, Logistics & Transportation, Retail & e-commerce, Government and Public Sector and Others.
Competitive landscape:
The top 5 players in the DDoS Protection and Mitigation industry are:
1. Cloudfare Inc.,
2. Akamai Technologies Inc.,
3. Radware Ltd.,
4. Arbor Networks Inc.,
5. Nexusguard Ltd.,
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