New York, April 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “DDoS Protection Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www .reportlinker .com/p06155635/?utm_source=GNW
People around the world have started working, studying and shopping online more and more than before. This has also been reflected in the targets of recent DDoS attacks, with the most targeted resources being the websites of medical organizations, delivery services, and gaming and education platforms.
An alarming increase in the number of network attacks should be an important factor for the adoption of DDoS protection solutions. The threat of these attacks is driven by easy access to easy-to-use tools and a more complete criminal understanding of its potential to profit through extortion. These attacks directly target business systems and individuals, which could result in huge financial and personal losses.
The requirement for DDoS protection for businesses has grown in importance, as failure to deal with attacks can affect user revenue, productivity, reputation, and loyalty. According to Cloudflare, the financial burden of a DDoS attack is significant, as falling victim to a DDoS attack can cost an organization approximately $100,000 for each hour of attack, further fueling the demand for DDoS protection solutions.
Additionally, according to Cloudflare, DDoS attacks are increasing, both in frequency and sophistication. After doubling from Q1 to Q2, the total number of network layer attacks seen in Q3 doubled again, resulting in a four-fold increase in the number from pre-COVID levels in Q1. The company has also seen more attack vectors deployed than ever before. In fact, as SYN, RST, and UDP floods continue to dominate the landscape, the company has seen an explosion in protocol-specific attacks such as mDNS, Memcached, and Jenkins DoS attacks.
According to Cisco, the number of DDoS attacks exceeding 1 gigabit per second of traffic is expected to reach 3.1 million by the middle of the forecast period, i.e. by 2021, a doubling .5 compared to 2016. In recent years, these attacks have increased in frequency and severity.
Additionally, by country breakdown, the United States observed the highest number of L3/4 DDoS attacks, followed by Germany and Australia. The main countries affected by region are North America (United States, Canada), Europe (Germany, Russia, among others), the Middle East (UAE, Kuwait), Asia-Pacific and the Oceania (Australia, Thailand, Japan).
The telecommunications industry was at the top when it was most targeted by DDoS attacks during the first quarter of 2021. According to Cloudflare, attacks at the application layer are on the rise, and those aimed at disrupting capacity of the HTTP server to process requests are the reasons. for an important concern. Additionally, DDoS ransomware attacks continued to be a significant challenge during the first quarter of 2021.
Main market trends
Rise in Instances of Sophisticated DDoS Attacks to Drive Market
The rapid increase in DDoS attack cases across multiple industries, which has resulted in the disruption of crucial organizational services resulting in the loss of millions of dollars for multiple businesses, has increased the focus on robust protection solutions in emerging economies. .
Network layer attacks that target exposed network infrastructure such as inline routers and other network servers have a significant impact on data centers where a significant portion of IT and telecommunications providers operate. According to Cloudflare, approximately 44% of network layer attacks occurred in January 2021, with Sync Flag (SYN) packet flood attacks remaining the most common. Other noted attacks included reset flag (RST) packets, user datagram protocol (UDP), and domain name system amplification attacks. Due to these developments, DDoS protection becomes vital for vendors operating in these industries.
The increased bandwidth and lower latency of 5G is further expected to increase the volume and severity of attacks. According to Corero’s study, the higher bandwidth of 5G allows advanced botnets to exploit as many mobiles or IoT devices as possible to cripple their targets.
As businesses around the world grow, new advanced persistent threats put critical services at risk. This has encouraged organizations to deploy better DDoS solutions to protect their endpoints and networks from potential attacks.
North America is expected to hold a significant share
The North American region is expected to hold a large market share, primarily due to increased adoption of advanced technologies and tighter implementation of cyber security solutions. Considering the need to meet stringent regulatory and compliance requirements, there is an increasing need for advanced security systems among end-user industries in the region which is positively driving the growth of the market.
The region also has 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. Additionally, cyberattacks in the region, especially in the United States, are increasing rapidly. They are reaching high numbers, mainly due to the rapid increase in the number of connected devices in the region.
Moreover, in the United States, consumers use public clouds and several mobile applications are preloaded with personal information for the convenience of banking, shopping and communication. Over the past few years, businesses in the region have witnessed increasing DDoS attacks, resulting in a huge awareness of protection solutions. Additionally, according to the White House Council of Economic Advisers, the US economy loses an estimated $57 billion to $109 billion annually due to harmful cyber activities.
Additionally, according to Atlas VPN, it was estimated that there were over 175,000 DDoS attacks in the United States in March 2020 alone. The attackers attempted to disable the US Department of Health and Human Services website. The main objective seemed to deprive citizens of access to official data regarding the COVID-19 pandemic and the measures taken against it.
The U.S. government also signed legislation establishing the Cybersecurity and Infrastructure Security Agency (CISA) to bolster national defense against cyberattacks. The agency works with the federal government to provide cybersecurity tools, incident response services, and assessment capabilities to protect government networks that support critical operations of partner departments and agencies. As a result, this opens new avenues for new and existing businesses to invest in a suitable protection suite designed for the industry.
Various companies are deploying standalone 5G networks, and they would need security partners to anchor themselves in their network and protect against attacks long before a threat occurs. For example, in April 2021, DISH Network Corporation selected Allot Ltd to provide end-to-end User Plane Protection (UPP) against DDoS and botnet attacks on the OpenRAN-based cloud-native 5G network in the United States.
The DDoS protection market primarily comprises several domestic and international players vying for attention in a fairly contested market. The market is also characterized by growing product penetration, moderate/high product differentiation, and high levels of competition. The market is centered on the product and technological advances constantly govern it. Innovations, R&D investments, partnerships, and mergers and acquisitions should be part of the competitive strategy of vendors operating in the market. Overall, the intensity of competitive rivalry is high and is expected to remain the same during the forecast period.
February 2022 – Radware acquired SecurityDAM for $30 million with contingent payments of up to $12.5 million for Radware’s cloud DDoS protection service post-deal.
August 2021 – Radware has partnered with hybrid infrastructure solutions provider INAP to provide security and protection for global cloud web applications against Distributed Denial of Service (DDoS) attacks. INAP will deploy Radware’s security protections to organizations across a variety of industries, including ad tech, healthcare, entertainment and gaming, financial services, ISF, and software as a service, among others.
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