A Distributed Denial of Service (DDoS) attack is a malicious attack that disrupts normal traffic to a website by overloading it with more traffic than the server can handle. The main purpose of this cyber attack is to make the website inoperable.
These types of attacks have increased in recent years, driving the need for the best DDoS protection software solutions. Many unplanned data centers have been disrupted due to the impact of DDoS attacks, which are driven primarily by easy-to-use tools and potential profit from extortion.
These attacks typically target organizations directly, causing huge financial and reputational damage, so having a solid DDoS protection software solution is critical.
According to a report by Market Research Inc., the DDoS protection software market is expected to grow at a CAGR of +14% between 2020-2028.
Important statistics illustrate growing demand for DDoS software solutions
Due to the exponential growth of multi-vector DDoS attacks, coupled with the ease of DDoS rental services today, the demand for the DDoS software market will continue to grow.
These statistics below show that deadly DDoS attacks are on the rise and there is an urgent need to have a strong pool of DDoS protection.
DDoS attacks increased fivefold between 2014 and 2017;
In 2020, the total number of DDoS attacks reached 17 million, and the cost of one such attack was between $20,000 and $40,000 per hour; in the second quarter of 2018, the average size of such attacks reached a staggering 37 GBps, while By the first quarter of 2019, this number had soared to 100 Gbps, an increase of 967%; the largest attack to date was the attack against GitHub in February 2018 with an attack speed of 3TBps; in the third quarter of 2020, China was the Attacks on the hardest-hit countries, accounting for 83% of all attack incidents; DDoS activity increased by 542% between Q4 2019 and Q1 2020; Global DDoS Protection and Mitigation market size is expected to compound at 14% Annual growth rate growth – from $2.4 billion in 2019 to $6 billion in 2028.
Factors Driving DDoS Protection and Mitigation Market Growth
There has been an increase in cyber-attack incidents in recent years, mainly due to a combination of factors such as the shift to digitalization, the increase in the number of connected devices, and the increased computing power of processors. Therefore, there is an urgent need to develop software solutions to mitigate these threats.
Major factors driving DDoS protection and mitigation market growth between 2020 and 2028 include rising market penetration of Internet of Things (IoT) and connected devices and demand from small and medium enterprises.
Organizations are aware of the impact of these attacks and want to have disaster recovery plans in place.
How DDoS Protection Works
Many businesses are faced with the question – how can I protect my website from DDoS attacks? Today, many vendors on the market offer software solutions that protect websites from these attacks.
It uses algorithms and advanced software to manage incoming traffic to a website. Additionally, it denies access to illegal traffic and lets only legitimate people pass through.
DDoS Prevention Solutions
DDoS protection programs include purchasing and managing devices that can screen incoming traffic and defend against attacks. These are cloud-based security services and network appliances that mitigate incoming threats.
Between 2020 and 2028, hardware solutions and services are expected to grow to determine network connectivity and reduce downtime in the event of equipment or power failures.
DDoS deployment model
In terms of deployment, the DDoS protection and mitigation market is segmented into cloud, on-premises, and hybrid. Among them, the hybrid model is expected to experience the largest growth between 2020 and 2028. It allows organizations to keep their critical data on-premises and move non-critical data to the cloud.
Recently, many DDoS attacks have gone undetected by on-premises or cloud-based solutions. Organizations cannot detect and block them; as a result, they are moving to a hybrid deployment model.
Key Players Providing DDoS Detection and Mitigation Solutions
As DDoS attacks continue to grow, so do the players offering software solutions to detect and mitigate such attacks. Currently, the best players in the market include:
Indusface Managed DDoS Mitigation
Largest Market Share in DDoS Protection and Mitigation Market
According to a Market Research Inc data report, North America will hold the largest and most significant market share in the DDoS protection and mitigation market during 2020-2028. The main driver for this is that North America is one of the early adopters of DDoS protection and mitigation solutions and there are no solution providers in this space. Currently, many businesses in North America are implementing DDoS protection and mitigation solutions to overcome these threats.
Market growth in Asia Pacific (APAC) is also set to increase in view of rapid economic growth and stability in developing countries, and better regulatory reforms.
In recent years, DDoS attacks have become increasingly sophisticated as the threat and impact of network DDoS attacks have continued to evolve. While volumetric attack levels were largely flat, there was an increase in the number of application-specific attacks and targeted high-intensity attacks.
DDoS protection software solutions are designed to eliminate downtime from these attacks and enhance website availability to keep businesses productive and efficient. On-premises, cloud and hybrid software solutions for small, medium and large enterprises are all the way forward.