DDoS protection and mitigation market to see double digit growth
According to the report, the DDoS protection and mitigation market is gaining traction, due to the rise in volumetric DDoS attacks that cause traffic congestion by flooding networks with numerous illegitimate network packets.
The high demand for cloud-based and hybrid DDoS protection and mitigation systems among enterprises is expected to drive the DDoS protection and mitigation market over the next 5 years.
The services segment is expected to play a vital role in changing the market landscape and grow at the highest CAGR during the forecast period. 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.
In the DDoS protection and mitigation market, small and medium-sized enterprises (SMEs) are expected to be the fastest-growing segment, as these enterprises have become the key targets for cyber terrorists or hacktivist. 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.
North America is expected to have the largest market size due to the growing trends such as Internet of Things (IoT), Internet of Everything (IoE), Industrial Internet of Things (IIoT), and Bring Your Own Device (BYOD). Asia Pacific (APAC) is expected to be the fastest-growing region during the forecast period, owing to the factors such as the region has a large number of established SMEs that are growing rapidly – and these enterprises are increasingly adopting DDoS protection and mitigation solutions and services. Furthermore, the market in regions such as Middle East and Africa (MEA) and Latin America is expected to grow, due to the increasing technological proliferation across manufacturing, and energy and utilities industry verticals.