DUBLIN, Oct. 15, 2020 /PRNewsCentre/ — The "DDoS Prevention and Mitigation Market – Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com’s offering.
The global DDoS prevention and mitigation market was valued at US$9.304 billion in 2019 and is expected to show good growth over the forecast period.
The growth of organizations with the increasing customer base and expanding locations has led to the creation, manipulation, and sharing of huge volumes of data over the networks. Increasing dependency on technology on account of rapidly increasing digitization and automation of processes across industries around the globe is increasing the cost of downtime. There is a large degree of variance on the average cost of downtime which depends mainly on the type of business and business environment.
Considering an average of 250 critical applications running in an enterprise and an average hourly downtime cost of $300,000 per application, the application downtime itself can cost the enterprise nearly $75 million per hour or even more than that. Amazon Web Services, in February 2017, experienced a critical downtime caused due to a console typo which brought down more servers for maintenance than required.
The downtime was more than 5 hours and affected nearly 148,000 hosted customers and visitors on their websites. In the same year, Lowe’s retail website faced an acute outage of 21 minutes on Black Friday and suffered a revenue loss of over $2 million. Since a DDoS attack can completely take away control over IT infrastructure from an enterprise, downtime for such entities can increase drastically, thus scaling up losses associated with such events. The increasing number of such incidents is increasing the need for robust DDoS prevention and mitigation solutions among end-users, thus boosting the market growth.
The market growth is also attributed to huge investments, enterprises are pumping into communication and technology, across all major regions worldwide. A good share of this heavy inflow of investments is being apportioned to the expansion of data center networks across the globe. With the volume of data generated per day increasing exponentially, these investments are becoming even more rigorous.
For instance, Facebook, one of the biggest technology companies in the world, has over 300 PB of data in its data centers. Similarly, huge volumes of data is stored with many other enterprises worldwide, which is increasing with it the severity of loss these are likely to suffer in the event of a cyber attack. This is driving the demand for robust DDoS prevention and mitigation solutions among enterprises, thus boosting the market growth.
The rapidly growing popularity and adoption of public cloud, coupled with the continuous increase in the number of endpoint devices accessing the data in the cloud, is also shaping the growth of the market. Any type of security breach in this ecosystem can translate into a huge monetary loss for an enterprise attributed to the loss of investors’ or customers’ confidence, loss of productivity, and heavy federal fines as part of legal actions. For instance, NotPetya, which was ransomware in the disguise of the tax software update, first came into light in Ukraine and later spread through to thousands of systems in more than 100 countries.
This attack hit companies like Merck & Co., Inc., which recorded damage worth $300 million in Q3 2017, and many other companies that had sensitive information flowing through their network. WannaCry, another big ransomware attack that caught the world’s attention, went on to take away control over several thousands of machines from banking institutions, government agencies, and other enterprises and organizations.
This is increasing the demand for advanced DDoS prevention and mitigation solutions and services among enterprises of various sizes, thus augmenting the market growth.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Lifecycle Analysis- Regional Snapshot
5. DDoS Prevention And Mitigation Market Analysis, By Offering
6. DDoS Prevention And Mitigation Market Analysis, By Enterprise Size
7. DDoS Prevention And Mitigation Market Analysis, By End User
7.2. Communication and Technology
8. DDoS Prevention And Mitigation Market Analysis, By Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.2. Microsoft Corporation
10.3. Amazon Web Services
10.5. Cloudflare, Inc.
10.7. Nexusguard Limited
10.8. Sucuri Inc.
10.10. Neustar, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/reisp7
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SOURCE: Research and Markets