According to the distributed denial-of-service (DDoS) protection market report carried out by Future Market Insights, the demand registered in the market will increase at a compound annual growth rate (CAGR) of around 15.3% from 2022 to 2032. The report states the market is expected to reach a valuation of $6.5 billion by end of 2032. Ease of availability of DDoS-for-hire services, high demand for cloud-based and hybrid DDoS protection solutions, and a rise in multi-vector DDoS attacks will drive the growth of the DDoS protection market in the coming years.
Furthermore, regulations governing CIP and services and the convergence of IT and operational technology (OT) systems are expected to drive the DDoS protection market and present attractive growth possibilities for DDoS protection solution vendors.
Cyberattacks on websites are on the rise, requiring organizations to invest in comprehensive security services to reduce risks in an ever-changing threat landscape. As more businesses and service providers use DDoS protection systems, the need for supporting services is expected to grow.
- By solution, the software segment is expected to dominate global demand for DDoS protection over the forecast period, followed by the services segment.
- By deployment, the cloud-based DDoS protection solutions are growing dominant.
- By enterprise size, demand for DDoS protection solutions from small and medium enterprises (SMEs) is estimated to be growing at a higher rate than large enterprises.
- By industry, the banking, financial services, and insurance (BFSI) industry is showing the highest growth with a dominant market share by 2032. However, the health care industry is projected to showcase a tremendous growth of close to 19% between 2022 and 2032.
- By region, North America currently holds the highest market share of around 32% in the DDoS protection market in 2021, but South Asia and Pacific region is showing the highest growth at a 22% CAGR throughout 2032.
Intensifying DDoS attacks
Presently the DDoS attacks have expanded in terms of volume, rate, landscape, and technology from a mere hobby to a particular agenda, which includes threats from hackers, cyberterrorists, partners, customers, rival companies, etc.
For instance, massive ransom DDoS attacks and ransomware campaigns disrupted aspects of critical infrastructure around the world (including one of the largest petroleum pipeline system operators in the U.S.) in the first half of 2021and a vulnerability in IT management software targeted the public sector, schools, credit unions, and travel organizations, to name a few.
Because of the heightened connection provided by mobile and cloud computing, as well as the increasing threat of sophisticated assaults, there is a growing demand for DDoS protection solutions. The majority of manufacturers are investing billions of dollars in research and development to produce effective firewalls and DDoS protection.
5G fuels DDoS attacks
As the globe prepares to welcome greater speeds and bandwidth capabilities to mobile devices with 5G internet, it must not be overlooked that fraudsters can use 5G-enabled mobile devices to conduct large DDoS attacks. Even a small number of such high-capability devices will be enough to do significant damage.
Only enterprises with comprehensive DDoS attack mitigation systems in place will be able to survive these attacks, which are rising in quantity, scale, intensity, complexity, and sophistication. Such factors are estimated to drive the demand for advanced DDoS protection solutions during the forecast period.