The global DDoS protection and mitigation market is projected to have a significant CAGR of 10.3% during the forecast period.
Growing trends towards cloud-based solutions
The rise in the demand for cloud-based services is one of the major factors augmenting the growth of DDoS protection and mitigation markets across the globe. Cloud computing refers to the on-demand access of data and programs from a centralized pool of resources. Rising adoption of the cloud platform is attributed to the faster deployment of new capabilities to drive innovative business solutions. Enterprises across the globe are adopting the cloud-based platform for storing data as large storage space is required by the commercial data generated by small & medium-sized enterprises and large enterprises. Further, with the increasing amount of data generated through IoT, many enterprises have shifted their data to the cloud storage by choosing service providers. Therefore, the increasing adoption of cloud-based solutions raises the chances of DDoS attacks across the enterprises that further propel market growth.
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An organizational cloud-based infrastructure supports these improvements by making it easier for SMEs to communicate, share information, and to streamline business processes that will raise the demand for cloud-based services in SMEs. With the increasing data on the cloud, there is more need to manage data, which in turn, is leading to increasing demand for cloud-based data backup and recovery software. Cloud backup is driven by affordable bandwidth and capacity optimization technologies. As a result, the demand for cloud-based DDoS protection and mitigation solutions is primarily contributing to the growth of the market.
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Growing concern towards data security
DDoS protection and mitigation have a significant role in enterprises that aids in preventing unauthorized access to computers, websites, and databases. However, the concerns regarding data security and privacy have been rising significantly owing to the abundant amount of unprotected data and poor cybersecurity. Data loss is a major concern for businesses of all sizes as it results in losing money and time to recover information which is vital for every business. It can disrupt the everyday operations of any business that further increases the demand of these solutions thus creating considerable growth in the market.
The companies are moving towards data protection solutions for proper and reliable management of data that further contributing to the DDoS protection and mitigation market. For instance, on average, organizations managed 9.70 petabyte (PB) of data in 2018, which signifies an explosive growth of 569% as compared to 1.45 PB managed in 2016. Further, 92% of businesses across the globe realize the potential value of data, with 36% already monetizing it. According to the survey, the use of the public cloud has increased from 28% of the total IT environment in respondents’ organizations in 2016 to 40% in 2018. Nearly all (98%) organizations are using the public cloud as a part of data protection infrastructure.
Global DDoS Protection and Mitigation Market- Segmentation
By Deployment Type
- On-Premises
- Cloud-based
By Component
- Hardware
- Software and Services
By Industry
- BFSI
- Retail & E-Commerce
- IT & Telecom
- Media & Entertainment
- Travel and Hospitality
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
