The bot security market is estimated to experience a CAGR of 17.6% between 2022 and 2032. The bot security industry is projected to generate US$ 487.0 million in revenue by 2022 and US$ 2.5 billion by 2032.
Protection from hazardous actions like unauthorized access, card fraud, credential leaks, DDoS assaults, site scraping, data theft, account hacking, and other risks is provided by bot security. Bot security products and services protect businesses from botnet assaults by spotting and preventing them at an early stage.
The demand for bot protection is projected to be influenced by a rise in malicious bot traffic, the complexity of botnet attacks, and the loss of revenue for organizations.
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As per the global bot security market study by FMI, increasing botnet sophistication, a shift in traffic from mobile to web, rising awareness about data privacy, and a surge in API usage across a variety of industries, including retail and e-commerce, travel, and hospitality, and telecom, are expected to drive bot security market growth over the forecast period.
Botnet security solutions and services are widely used in the media and entertainment business to detect and mitigate advertising-related vulnerabilities. This reason is expected to drive the bot security industry forward.
In several regions of the world, a trend of ideological and state-driven attacks targeting persons or organizations to support a political cause or carry out a cyber-warfare campaign is being noted, with organizations finding it difficult to combat these attacks. Botnet attacks, according to industry analysts, may be carried out across multiple organizations around the world employing such approaches.
This figure is likely to grow significantly in the next years due to increased internet penetration. In industrialized economies, such as the United States, Australia, South Korea, and Japan, smartphone ownership is substantially greater. Smartphones are being used for a variety of tasks, including internet shopping, social media apps, and product research.
As a result, web traffic is shifting from desktop to mobile, making botnet attacks a profitable target. Because of these worrying figures, bot security firms are focusing more on mobile security. As a result, bot security suppliers are projected to benefit from the shift in online traffic to mobile.
In numerous regions of the world, the rise of ideological and state-driven attacks that target people or organizations to support a political cause or carry out a cyber-warfare campaign is being noted, and organizations are finding it difficult to combat these attacks.
Key Takeaways
- Owing to the high rate of adoption of modern technology, early acceptance of bot security, and the presence of a significant number of major players in the region, North America dominated the worldwide bot security market. The retail and eCommerce segment accounted for the largest market in 2021 and is projected to continue to do so in the foreseeable future.
- The bot security market‘s services category has a lot of potential, and it’s predicted to grow at a faster rate throughout the forecast period.
- The standalone solution segment is expected to advance at a CAGR of 17.2% throughout the forecast period.
Competitive Landscape
To enhance the botnet security market share, presence, and revenues, the bot security companies are focusing on various growth tactics such as collaborations, mergers, and acquisitions. In order to strengthen their product offering, key players are also purchasing other businesses.
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Key and innovative vendors in the bot security market include
- AppsFlyer,
- Imperva,
- Shape Security,
- Alibaba Cloud,
- DataDome,
- PerimeterX,
- Netacea,
- Cloudflare,
- Sophos,
- Fastly,
- Akamai Technologies,
- F5,
- Radware, and
- Reblaze.
Recent Developments
Imperva bought CloudVector, a pioneer in API security, in May 2021. Imperva safeguards customers against the hazards of API traffic discovery, monitoring, and protection from exploits and breaches in every environment. Imperva’s capacity to manage complex API security concerns was enhanced with the inclusion of CloudVector.
Epiq, a worldwide technology-enabled services business, chose Cloudflare for WAF security in February 2021. Epiq clients have more control over business and security risks thanks to Cloudflare. Epiq’s use of Cloudflare’s technologies will give its customers greater granular security management, safeguarding them from DDoS attacks and malicious botnets.
Key Segments
By Security Type:
- Web Security
- Mobile Security
- API Security
By Deployment Mode:
- Cloud
- On-Premises
By Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By Vertical:
- Retail and eCommerce
- Media and Entertainment
- Travel and Tourism
- BFSI
- Telecom
- Government and Defense
- Healthcare
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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