PUNE, India, February 10, 2017 /PRNewswire/ --
According to a new market research report "DDoS Protection and Mitigation Market by Component (Solution, and Service), Application Area (Network, Application, Database, and Endpoint), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the Distributed Denial of Service (DDoS) protection and mitigation market size is estimated to grow from USD 824.4 Million in 2016 to USD 2,162.9 Million by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 21.3%.
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The DDoS protection and mitigation solutions and services help to offer protection and mitigation on endpoints from advanced and sophisticated DDoS attacks. Moreover, increasing demand from Small and Medium Enterprises (SMEs) operating across diverse industry verticals and regions is expected to drive the market growth during the forecast period.
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The application layer segment to play a key role in the DDoS Protection and Mitigation Market
The application layer, also known as the layer 7, segment is projected to grow at the highest CAGR during the forecast period, due to increasing instances of DDoS attacks on the layer of an website or an application, owing to the criticality of its function and features in an enterprise. Rise in Bring Your Own Device (BYOD) and increasing penetration of Internet of Things (IoT) technologies across organizations operating in various industry verticals is triggering growth in the DDoS Protection and Mitigation Market.
The network layer, also known as the Level 3/4 attacks, segment is also expected to witness significant growth in the DDoS Protection and Mitigation Market from 2016 to 2021, due to growing instances on advanced DDoS attacks on the network or the transport layer. Such attacks target servers and networks and consume its available resources, disrupting its productive functioning.
The Banking, Financial Services, and Insurance (BFSI) vertical expected to play a significant role in the DDoS Protection and Mitigation Market
The BFSI industry vertical is expected to contribute the largest market share in the DDoS Protection and Mitigation Market, due to increasing digitization in banking operations and rise in the number of government regulations on banking and financial transactions. Moreover, there has been a steep rise in the number of DDoS attacks on banking networks, applications, and databases, affecting the smooth operation of the banking sector.
The healthcare sector is expected to grow at the highest CAGR from 2016 to 2021, in the DDoS Protection and Mitigation Market, due to the technological proliferation, introduction of IoT in healthcare sector and a subsequent rise in the number of DDoS attacks in the sector. Adoption of DDoS protection and mitigation solutions and services in healthcare brings protection from advanced DDoS attacks without affecting the operational effectiveness, thus driving the demand.
North America expected to contribute the largest market share, whereas APAC is expected to grow the fastest
North America is expected to have the largest market share and dominate the DDoS Protection and Mitigation Market from 2016 to 2021, due to the presence of large number of DDoS protection and mitigation solution vendors and early innovative technology adopters across the U.S. and Canada. APAC offers high growth opportunities in the DDoS Protection and Mitigation Market, as there exists an extensive presence of SMEs that are turning towards DDoS protection and mitigation solutions to proficiently safeguard their business processes, particularly in developing countries such as India, China, and Singapore.
The major vendors in the DDoS Protection and Mitigation Market include Arbor Networks, Inc. (U.S.), Akamai Technologies, Inc. (U.S.), F5 Networks (U.S.), Imperva, Inc. (U.S.), Radware, Ltd. (Israel), Corero Network Security, Inc. (U.S.), Neustar, Inc. (U.S.), Cloudflare, Inc. (U.S.), Nexusguard, Ltd. (U.S.), and DOSarrest Internet Security, Ltd. (Canada).
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