Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Bot Security Market size is expected to reach $1.4 billion by 2028, rising at a market growth of 20.0% CAGR during the forecast period.
The Standalone Solution segment dominated the Global Bot Security Market by Component in 2021; thereby, achieving a market value of $887.6 million by 2028. Users can leverage current applied and broad-based experience and knowledge of bot security solutions. Bot security solutions are increasingly being used in order to prevent sensitive and confidential data and information of a company. Moreover, due to the rising number of cyber threats all over the world, this segment is estimated to significantly grow during the forecasting period.
The Mobile Security segment has shown growth rate of 20.6% during (2022 - 2028). The constantly rising growth of the segment is due to the rapidly growing popularity of smartphones, the number of cyber-attacks on mobile platforms has increased. The increase in mobile platform attacks is boosted by developments in circumventing modern authentication mechanisms. Moreover, due to the increasing availability of smartphones all over the world is another major factor that is driving the growth of this segment over the forecast period.
The Cloud segment is leading the Global Bot Security Market by Deployment Model in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $903.2 million by 2028. Several factors such as efficiency, scalability, and availability of cloud-based bot security solutions offer various advantages to organizations. SaaS-based solutions provide a centralized service delivery paradigm, due to which, they are gaining popularity. Moreover, due to advantages, such as simplicity of use and lower installation and maintenance costs, the demand for cloud-based bot security is increasing. Therefore, the growth of this segment is constantly increasing.
The Small & Medium Enterprises segment is showcasing a CAGR of 21.6% during (2022 - 2028). The increasing growth of this segment is owing to the growing workloads in small and medium organizations. In addition, there is a growing number of small and medium organizations, due to which, the deployment of bots around these organizations is surging. Therefore, the growth of the segment would accelerate over the forecasting years.
The Retail & E-commerce segment acquired the maximum revenue share in the Global Bot Security Market by Vertical in 2021, thereby, achieving a market value of $447.1 million by 2028. Bad bot attacks, like scraping, denial of inventory, scalping, credential stuffing, or Layer 7 DDoS assaults, mostly target online retail and e-commerce enterprises. These assaults can cause a website's performance to suffer, as well as increased downtime, the exposure of important client information, and revenue loss. These types of attacks not only cause technical difficulties, but they also have a financial impact on the organization. As a result, effective security measures against dangerous bots must be deployed and maintained by online shops. This factor is accelerating the growth of bot security solutions and services in retail and e-commerce stores.
North America is the fastest growing region in the Global Bot Security Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $521.0 million by 2028. The Europe market is estimated to witness a CAGR of 19.7% during (2022 - 2028). Additionally, The Asia Pacific market would exhibit a CAGR of 20.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/bot-security-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Akamai Technologies, Inc., Imperva, Inc., Limelight Networks, Inc., Cloudflare, Inc., Citrix Systems, Inc., Fastly, Inc., F5 Networks, Inc., Sophos Group PLC, Reblaze Technologies Ltd., and Alibaba Cloud (Alibaba Group Holdings Limited).
By Security Type
By Deployment Model
By Organization size
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