The Demand of Distributed Denial of Service (DDoS) Protection is Increasing Exponentially
Increasing utilization of mobile devices and rising adoption of Internet are expected to be factors for the overall market growth. For instance, according to Coherent Market Insights’ analysis, as of 2016, over 68% of global population is already using mobile phones. In addition to that, according to Internet World Stats, as of June 30, 2017, total Internet users count was totaled at 3,885,567,619 among global population of 7,519,028,970.
Furthermore, banking and finance services sector is a potential target for DDoS attacks. Proliferation in online transactions and increasing use of services such as National Electronic Fund Transfer (NEFT), Real-time Gross Settlement Systems (RTGS), Electronic Clearing Service (ECS) as well as mobile transactions, has led to demand for solutions that aid in carrying out these tractions safely and securely. Moreover, increasing number of payment gateways, e-Commerce websites, and mobile application that accept online transactions and store credit card and debit card information are also susceptible to hacking. Hence, this is used for protecting private information of data or cash related to their customers. This confidential data is highly susceptible to DDoS attack. For instance, according to the Reserve Bank of India (RBI), for the year 2015–2016, 16,468 frauds were reported associated with ATM, debit card, credit card, and net banking. In 2014–2015 the number of frauds were 13,083 and 9,500 in the year 2013–14, reported by RBI. Owing to these reasons DDoS protection market is expected to exhibit high growth rate over the forecast period.
However, high initial cost of software and lack of awareness and technical proficiency about the software, are the two major factors expected to restraint growth of the global distributed denial of service protection market over the forecast period.
North America accounted for the largest market share in 2016 in the global distributed denial of service (DDoS) protection market
The global market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for distributed denial of service protection in North America is expected to account for largest share in the global market over the forecast period. This growth is attributed to the presence of key players of this market in this region especially in the U.S. and Canada such as Arbor Networks, Inc. (U.S.), Akamai Technologies, Inc. (U.S.), F5 Networks (U.S.), Imperva, Inc. (U.S.), and DOSarrest Internet Security, Ltd. (Canada).
Moreover, advancement in technologies and increasing use of 2G, 3G, and 4G Long-Term Evolution (LTE) wireless networks have in turn also made these networks increasingly susceptibility to cyber-attacks. These cellular networks enables connectivity and communications to exchange real-time information, data, and online transactions among others, which is prominent target for cyber-attacks. For the security and flexibility of these online communication DDoS security solution plays a major role. According to Coherent Market Insights’ analysis, in 2016, over 88% of the U.S. population had access to the Internet, which is around 280 million of the U.S. population.
Key Market Players in the Global Distributed Denial of Service (DDoS) Protection Market:
Major players operating in the global distributed denial of service (DDoS) protection market are Arbor Networks, Inc., Akamai Technologies, Inc., F5 Networks, Inc., Imperva incapsula, Radware Ltd., Corero Network Security, Inc., Neustar, Inc., Cloudflare, Inc., Nexusguard Ltd., and DOSarrest Internet Security Ltd.
For More Information
You may be interested
Social Media Analytics Market to grow like never before by 2026Sayali Tribhuvan - July 17, 2018
Social Media Analytics Market Research Study provide detailed information about the key factors influencing the growth of the industry which include drivers, restraints, opportunities, and industry-specific challenges,…
Construction Chemicals Market Growth Opportunities and Future Prospects till 2026Sayali Tribhuvan - July 17, 2018
The Construction Chemicals Market research report covers the present scenario and the growth prospects of the global Construction Chemicals industry for 2018-2026. The report enlists several important…
Intelligent Virtual Assistant Market Expansion to be Persistent During 2018–2026Sayali Tribhuvan - July 17, 2018
Intelligent Virtual Assistant Market Research Study provide detailed information about the key factors influencing the growth of the industry which include drivers, restraints, opportunities, and industry-specific challenges,…