DDoS Protection Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 | #cybersecurity | #cyberattack


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The DDOS protection market was valued at USD 1. 88 billion in 2021 and is expected to reach USD 5. 14 billion in 2027, registering a CAGR of 18. 21% over the forecast period. With the emergence of the COVID-19 pandemic, working environments have shifted almost entirely to the web.

New York, April 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “DDoS Protection Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06155635/?utm_source=GNW
People across the globe have increasingly started working, studying, and shopping online as compared to before. This has also been reflected in the goals of recent DDoS attacks, with the most targeted resources being the websites of medical organizations, delivery services, and gaming and educational platforms.

Key Highlights
An alarming increase in the number of network attacks is anticipated to be a significant driver for the adoption of DDoS protection solutions. The threat of these attacks is being driven by ready access to easy-to-use tools and a more comprehensive criminal understanding of its potential for profit through extortion. These attacks directly target business systems and individuals, which could lead to enormous financial and personal losses.
The requirement for DDoS protection for enterprises has gained tremendous significance, as failure to deal with the attacks can affect revenue, productivity, reputation, and user loyalty. According to Cloudflare, the financial burden of a DDoS attack is significant, as falling victim to a DDoS attack can cost an organization around USD 100,000 for every hour the attack lasts, further fuelling the demand for DDoS protection solutions.
Additionally, as per Cloudflare, DDoS attacks are surging, both in frequency and sophistication. After doubling from Q1 to Q2, the total number of network layer attacks witnessed in Q3 doubled again, resulting in a 4x increase in the number compared to the pre-COVID levels in the first quarter. The company also witnessed more attack vectors deployed than ever. In fact, while SYN, RST, and UDP floods continue to dominate the landscape, the company saw an explosion in protocol-specific attacks such as mDNS, Memcached, and Jenkins DoS attacks.
As per Cisco, the number of DDoS attacks exceeding 1 gigabit per second of traffic is expected to rise to 3.1 million by the mid forecast period, i.e., by 2021, which is a 2.5-fold increase from 2016. In recent years, these attacks have been increasing in both frequency and severity.
Moreover, under the country-based distribution, the United States observed the greatest number of L3/4 DDoS attacks, followed by Germany and Australia. The top countries affected by region include North America (United States, Canada), Europe (Germany, Russia, among others), the Middle East (UAE, Kuwait), Asia Pacific, and Oceania (Australia, Thailand, Japan).
The telecom industry was at the top when it was most targeted by DDoS attacks during the first quarter of 2021. According to Cloudflare, application-layer attacks are on the rise, and those that aim to disrupt the HTTP server’s ability to process requests are reasons for significant concern. Also, ransom DDoS attacks continued to be a significant challenge during the first quarter of 2021.

Key Market Trends

Increasing Instances of Sophisticated DDoS Attacks to Drive the Market

The rapidly rising instances of DDoS attacks across multiple industries, which have resulted in the disruption of crucial organizational services resulting in the loss of millions of dollars for multiple companies, have increased the focus on robust protection solutions across the emerging economies.
Network layer attacks that target exposed network infrastructure such as inline routers and other network servers significantly impact data centers where a major share of IT and telecom vendors operate. According to Cloudflare, about 44% of Network Layer Attacks occurred in January 2021, with synchronizing flag (SYN) packet flood attacks remaining the most common. Other attacks noted included reset flag (RST) packets, user datagram protocol (UDP), and domain name system amplification attacks. Due to such developments, DDoS protection is becoming vital for vendors operating in these industries.
The increased bandwidth and low latency in 5G are further anticipated to increase the volume and severity of the attacks. According to Corero’s study, the higher bandwidth of 5G enables advanced botnets to harness as many mobiles or IoT devices as possible to cripple their targets.
As businesses across the globe are growing, new and advanced persistent threats have been exposing critical services to risk. This has encouraged organizations to deploy better DDoS solutions in order to safeguard their endpoints and networks against potential attacks.?

North America is Expected to Hold Major Share

The North American region is expected to hold a significant market share, primarily due to the higher adoption of advanced technologies and stricter implementation of cybersecurity solutions. Given the need to meet stringent regulatory and compliance requirements, there is a rising need for advanced security systems among the region’s end-user industries that positively boost the market’s growth.
The region also accounts for a significant number of DDoS attacks, which are likely to increase with respect to multiple end-user industries, further driving the demand for DDoS protection solutions. Moreover, cyberattacks in the region, especially in the United States, are increasing rapidly. They are reaching high numbers, primarily owing to the rapidly increasing number of connected devices in the region.
Also, in the United States, consumers have been using public clouds, and multiple mobile applications are preloaded with personal information for the convenience of banking, shopping, and communication. In the past few years, companies in the region have been witnessing increasing DDoS attacks, which has resulted in tremendous awareness related to protection solutions. Also, according to the White House Council of Economic Advisers, the US economy loses approximately USD 57 billion to USD 109 billion per year to harmful cyber activity.
Moreover, according to Atlas VPN, it was estimated that there were more than 175,000 DDoS attacks in the United States in March 2020 alone. Attackers tried to disable the website of the US Department of Health and Human Services. The primary purpose seemed to deprive the citizens of access to official data regarding the COVID-19 pandemic and the measures being taken against it.
The US government also signed a law to establish Cybersecurity and Infrastructure Security Agency (CISA) to enhance the national defense against cyber attacks. The agency works with the federal government to provide cybersecurity tools, incident response services, and assessment capabilities to safeguard the governmental networks that support essential operations of the partner departments and agencies. As a result, it opens new avenues for the new and existing companies to invest in a suitable protection suite designed for the industry.
Various firms are deploying standalone 5G networks, and they would need security partners to become ingrained in their network and security against attacks well before a threat occurs. For instance, in April 2021, DISH Network Corporation chose Allot Ltd to provide end-to-end User Plane Protection (UPP) against DDoS and botnet attacks on the United States’ cloud-native, OpenRAN-based 5G network.

Competitive Landscape

The DDoS protection market primarily comprises multiple domestic and international players fighting for attention in a fairly contested market space. The market is also characterized by growing product penetration, moderate/high product differentiation, and high levels of competition. The market is product-centric, and technological advancements constantly govern it. Innovations, R&D investments, partnerships, and M&As, are expected to be part of the competitive strategy among the vendors operating in the market. Overall, the intensity of the competitive rivalry is high and expected to remain the same during the forecast period.

February 2022 – Radware acquired SecurityDAM for USD 30 million with contingent payments of up to USD 12.5 million for Radware’s cloud DDoS protection service after the deal.
August 2021 – Radware has partnered with hybrid infrastructure solutions provider INAP to provide global cloud web application security and protection against distributed denial of service (DDoS) attacks. INAP will deploy Radware’s security protections to organizations across various industries, including ad tech, healthcare, entertainment and gaming, financial services, ISF, and software as a service, amongst others.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06155635/?utm_source=GNW

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