PRESS RELEASE
Published April 10, 2023
“NetScout (US), Akamai (US), Radware (Israel), Huawei Technology (China), Fortinet (US), Link11 (Germany), Imperva (US), Cloudflare (US), BT (England), A10 Networks (US), Fastly (US), Nexusguard (Singapore), Corero (UK), RioRey (US), PhoenixNAP (US), Allot (Israel), StrataCore (US), Sucuri (US), Verisign (US), and Mlytics (Singapore).”
DDoS Protection and Mitigation Security Market by Component, Application Area (Network Security, Application Security, Endpoint Security), Deployment Mode, Organization Size, Vertical (BFSI, Healthcare, IT & Telecom) and Region – Global Forecast to 2027
The DDoS protection and mitigation security market is expected to grow from USD 3.9 billion in 2022 to USD 7.3 billion by 2027, at a CAGR of 13.2% during the forecast period, fueled by high demand for cloud-based and hybrid DDoS protection and mitigation solutions.
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By component, services segment is expected to register the fastest growth rate during the forecast period.
With the increasing adoption of DDoS solutions across organizations and service providers, the demand for supporting services is also expected to increase among organizations. As most businesses lack the technical expertise to manage their network infrastructure and application-layer attacks, professional service providers offer ways to overcome this problem.The services offered by DDoS protection and mitigation vendors help safeguard websites, networks, layer three and layer seven threats. DDoS services protect websites, networks, and critical infrastructure devices, as well as reduce downtime and business risks. The DDoS service providers are continuously integrating advanced technologies to stop such DoS/DDoS attacks. Additionally, they provide support services and access to a 24/7 DDoS response team.
By vertical, BFSI is estimated to account for largest market share in 2022
The BSFI institutions face distinctive challenges related to economic risks, such as loss of financial data and customer information for internal and external transactions in case of network failure. These networks are exposed to threats because of network tampering or cyberattacks, which may lead to network failure or financial instability. The rise in the adoption of BYOD and work from home trends and the increasing number of botnet and Mirai botnet attacks due to IoT, cloud storage data leaks, and fragile data center security have placed the BFSI infrastructure at risk. Therefore, DDoS protection and mitigation solutions would play a crucial role in the BFSI vertical.
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The major vendors covered in the DDoS protection and mitigation security market include NetScout (US), Akamai (US), Radware (Israel), Huawei Technology (China), Fortinet (US), Link11 (Germany), Imperva (US), Cloudflare (US), BT (England), A10 Networks (US), Fastly (US), Nexusguard (Singapore), Corero (UK), RioRey (US), PhoenixNAP (US), Allot (Israel), StrataCore (US), Sucuri (US), Verisign (US), StackPath (US), Seceon (US), Haltdos (India), DDoS-Guard (Russia), Indusface (India), Activereach (UK), and Mlytics (Singapore). These companies have adopted various strategies to cater to the growing demand for DDoS protection and mitigation security and strengthen their position in the market.
Akamai Technologies is a global and key player in the DDoS protection and mitigation market. It specializes in web and mobile acceleration, DNS and traffic management, media delivery, cloud security, and CDN. Its cloud security portfolio includes application protection, bot management, DDoS mitigation, and threat protection products. Akamai’s DDoS protection and mitigation portfolio includes Kona Site Defender, Web Application Protector, Fast DNS, and Prolexic. Kona Site Defender protects websites and applications from advanced DDoS attacks. The Kona Site Defender offers features such as site shield, adaptive caching, site failover, access control, net storage, log delivery service, Security Information and Event Management (SIEM) integration, and ISO 27002 compliance management module. Prolexic helps protect enterprises from the network layer and application layer DDoS attacks. Prolexic offers significant features, such as a customizable protection model, global network support, DDoS monitoring, attack support, and SOC support. The company helps enterprises reduce network and infrastructure costs while increasing their throughput over time. Akamai provides its security solution to enterprises to protect their websites, applications, and users from ever-rising threats. Some of the significant security customers of the company include Alliant Credit Union, Fidor Bank, Nuance Healthcare, and Red Hat.
NetScout is one of the leading application and network performance management solutions and products providers. NetScout’s product portfolio comprises business assurance, service assurance, and security assurance, along with advanced DDoS attack and threat solutions and Business Intelligence (BI) solutions. It offers various technology-based solutions, such as Network Functions Virtualization (NFV), Software-Defined Networking (SDN), core network, Information Management System (IMS) monitoring, and radio access. It caters to a wide range of industry verticals, including government, retail banking, healthcare, pharmaceuticals, utilities, manufacturing, Banking, Financial Services, and Insurance (BFSI), education, and transportation. Arbor Networks is a security division of NetScout which provides leading products and services in the DDoS protection and mitigation market. Arbor Networks has an extensive DDoS protection and mitigation product portfolio, including Arbor Networks APS, Arbor Cloud, and Arbor Networks TMS.
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