According to Industry reports, there were as many as 124,000 DDoS attacks per week globally in the last 18 months between January 2015 and June 2016. The attack on several websites of Rio Olympics, the presidential campaign websites of Hillary Clinton and Donald Trump and Russian banks were some of the major victims of DDoS attack which made the headlines in media back then.
The severe and growing threat posed by DDoS attacks is spurring the demand for its mitigation exponentially. The market for mitigation solutions is expected to reach US $1.8 billion by the end of year 2021 growing a little shy of 20% every year.
One out of five SMEs in the UK was victim of DDoS attacks last year. This is not surprising since SMEs are least prepared for such attacks and hence they are most vulnerable. The increasing demand for DDoS mitigation solution by Small and Medium Enterprises (SMEs) is likely to accelerate its market further in next four years. Nonetheless, the current format of solutions may not suit SMEs needs that are price sensitive and without strong internal capabilities to manage these solutions.
To address the rising demand for DDoS mitigation solution, the market players are gradually expected to focus on service-based solutions as versus product-based solutions. Lower costs and user-friendly interfaces will likely spur this market segment and by 2021 this segment alone may likely be expected to contribute 70% of total market revenue from 58% at present.
Hot Investment Opportunity
The consistent increase in number of enterprises (customers) is also driving the DDoS protection market towards prosperity. The growth rate of enterprise market segment is outpacing that of the number of service providers. The percentage of service provider market and enterprise market is estimated to be 27% and 73%, respectively in next four years.
By 2021, DDoS mitigation market is expected to rise significantly. The emerging economies in Asia-Pacific and Europe Middle East and Africa (EMEA) will demand more DDoS mitigation solutions because the threat of DDoS attack will probably mushroom in greater proportion in comparison to pocket size of service providers.
Subarna Poudel is a researcher with Frost & Sullivan. He can be reached at email@example.com
Sapan Agarwal drives content and marketing for Frost & Sullivan. Sapan is based out of Kuala Lumpur Malaysia and can be reached at firstname.lastname@example.org | +603 6204 5830