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DDoS Protection and Mitigation Market Growing at a CAGR 14.0% | Key Player Netscout, Akamai Technologies, Radware, Huawei Technologies, Fortinet

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DDoS Protection and Mitigation Market Growing at a CAGR 14.0% | Key Player Netscout, Akamai Technologies, Radware, Huawei Technologies, Fortinet

November 17
20:15 2020
DDoS Protection and Mitigation Market Growing at a CAGR 14.0% | Key Player Netscout, Akamai Technologies, Radware, Huawei Technologies, Fortinet

NETSCOUT (US); Akamai Technologies (US); Imperva (US); Radware (Israel); Corero Network Security (US); Cloudflare (US); Link11 (Germany), Nexusguard (Hong Kong); A10 Networks, (US); Fortinet (US); Huawei Technologies (China); Verisign (US); Sucuri (US); SiteLock (US); Flowmon Networks (Czech Republic); StackPath, (US); DOSarrest Internet Security (Canada)
DDoS Protection and Mitigation Market by Component (Hardware Solutions, Software Solutions, and Services), Application Area (Network, Application, Database, and Endpoint), Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2024

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 from 2019 to2024. The major driving factors for the DDoS market include the rise in multi-vector DDoS attacks, ease of availability of DDoS-for-hire services, and growing demand for cloud-based and hybrid DDoS protection and mitigation services and solutions.

Services segment to play a key role in the DDoS protection and mitigation market

The services segment is expected to play a vital role in changing the DDoS protection and mitigation market landscape and grow at the highest CAGR during the forecast period. Services offered by the DDoS protection and mitigation vendors are classified into professional and managed services. 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. Services offered by DDoS protection and mitigation vendors help safeguard websites, networks, and layer 3 and layer 7 threats.

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Small and Medium-sized Enterprises (SMEs) segment to grow at the fastest rate during the forecast period

In the DDoS protection and mitigation market, SMEs are expected to be the fastest-growing segment, as these enterprises have become the key targets for cyber terrorists or hacktivists. 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.

Major DDoS protection and mitigation vendors include NETSCOUT (US), Akamai Technologies (US); Imperva (US); Radware (Israel); Cloudflare (US); Link11 (Germany), Nexusguard (Hong Kong); A10 Networks, (US); Fortinet (US); Huawei Technologies (China); Verisign (US); Flowmon Networks (Czech Republic), StackPath, (US); DOSarrest Internet Security (Canada); and Seceon (US). These players have adopted various growth strategies, such as new product launches, partnerships, agreements, and collaborations, to enhance their presence in the global DDoS protection and mitigation market. Partnerships, acquisitions, and new product launches have been the most widely adopted strategies from 2017 to 2019, which has helped major players innovate their offerings and broaden their customer base.

An established company, Akamai (US), has a strong presence in the US market. Akamai’s DDoS protection and mitigation portfolio include products, such as Kona Site Defender, Web Application Protector, Fast DNS, and Prolexic. Kona Site Defender protects websites and applications from advanced DDoS attacks. The company helps enterprises reduce their network and infrastructure cost while increasing their throughput overtime. Akamai provides its security solution to enterprises to protect their websites, applications, and users from ever-rising threats. The company offers its products to almost all the verticals including healthcare and life sciences, business services, Banking, Financial Services, and Insurance (BFSI), automotive, hotel and travel, manufacturing, media and entertainment, public sector, gaming, retail and consumer goods, and software technology. It offers its products to both large enterprises and startups. Some of the significant security customers of the company include Alliant Credit Union, Fidor Bank, Nuance Healthcare, and Red Hat. Akamai focuses on inorganic growth, either through strategic partnerships with major industry players or through the acquisition of prominent startups. In January 2019, Akamai completed the acquisition of Janrain (US), which is a provider of Customer identity and Access Management (CIAM). This acquisition enabled Akamai to add CIAM to their Edge platform. The company’s major focus areas include, media delivery, web acceleration, cloud security, and storage. Akamai has a huge infrastructure to back all these services with PoPs spread across the globe. The company maintains its global presence with regional presence in North America, Europe, Asia Pacific (APAC), Europe, Middle East and Africa (EMEA), and Latin America.

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Huawei (China) is one of the leading leading vendors of DDoS protection and mitigation solutions and services The company has 3 business divisions, namely, Enterprise Business Group, which caters to the DDoS protection and mitigation market by building solutions using new Informations and Comunications Technology (ICT) technologies, such as cloud computing, software-defined networking, big data, and Internet of Things (IoT), to provide products and services that help industries go digital. In 2018, Huawei invested around USD 15 billion in Research and Development (R&D). This investment shows the company’s interest in new technologies and potential untapped markets. The company adopts a balanced approach of both organic and inorganic developments, and continuously works with leading solution partners to develop DDoS protection and mitigation solutions. In addition, it has a robust partner network with more than 25,000 global partners and focuses toward building a strong cybersecurity ecosystem, and works with partners to integrate their solutions into industries.

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