Global Bot Mitigation Market Share Analysis 2024, Forecast To 2033
25 Jul, 2024
The bot mitigation market has witnessed exponential growth in recent years, expanding from $0.58 billion in 2023 to $0.72 billion in 2024 at a compound annual growth rate (CAGR) of 24.5%. This growth in the historical period can be attributed to the proliferation of automated attacks, vulnerabilities in web applications, account takeover incidents, e-commerce fraud, and distributed denial of service (DDoS) attacks. Looking ahead, the market is poised for continued exponential growth, projected to reach $1.75 billion by 2028 with a CAGR of 24.8%. Anticipated growth in the forecast period will be driven by increasing bot sophistication, growth of IoT botnets, expansion of cloud-based attack vectors, emerging threats in cybersecurity, automation in cyberattacks, and integration with security orchestration platforms. Major trends expected include advancements in bot detection techniques, adoption of zero trust architecture principles, expansion of cloud-native bot mitigation solutions, implementation of behavioral biometrics for bot identification, and the rise of AI-powered bot attack methodologies.
Major Driver In The Bot Mitigation Market
The rise in phishing and malware threats is expected to drive significant growth in the bot mitigation market. Phishing and malware, which involve deceptive emails seeking personal data and disrupting IT systems respectively, are escalating with increased digital connectivity and cybercriminal sophistication. Bot mitigation technologies counter these threats by identifying and blocking automated bot traffic that spreads malicious links, thereby protecting sensitive information. For instance, the Anti-Phishing Working Group reported 12.7 million phishing attacks in Q3 2022, an increase from 10.97 million in Q2. This surge in cyber threats underscores the critical need for effective bot mitigation solutions, which are projected to see substantial growth with market sizes estimated at $X billion in 2023, $Y billion in 2024, and $Z billion by 2028.
Request A Free Sample Of The Global Bot Mitigation Market ReportBot Mitigation Market Competitive Landscape
Cisco Systems Inc., Broadcom Inc., Palo Alto Networks Inc., Fortinet Inc., Akamai Technologies Inc., Citrix Systems Inc., Cequence Security Inc., F5 Networks Inc., Check Point Software Technologies Ltd., Trend Micro Inc., CrowdStrike Holdings Inc., Proofpoint Inc., Zscaler Inc., Cloudflare Inc., Netscout Systems Inc., Forcepoint LLC, Fastly Inc., Barracuda Networks Inc., Radware Ltd., Imperva Inc., White Ops Inc., Sophos Group Plc, DataDome SAS, Netacea Ltd, Reblaze Technologies Ltd.
Key Bot Mitigation Market Trend
Major companies in the bot mitigation market are developing advanced bot defense platforms to increase their market share. These platforms are designed to protect websites and web applications from malicious bot traffic and misuse, such as credential theft and content scraping. For instance, in December 2023, Kasada, an Australian cybersecurity software developer, launched an advanced bot defense platform that provides evolving protection and attack insights. This platform addresses the shortcomings of traditional bot detection systems, which have become ineffective against modern bot attacks and online fraud. The platform's defense system is randomized across its architecture, making it difficult and costly for attackers to bypass. Kasada's platform is designed to be invisible to users, offering quick and effective protection without affecting the user experience.
Purchase The Global Bot Mitigation Market Report Directly And Get A Swift DeliveryBot Mitigation Market Segmentation
The bot mitigation market covered in this report is segmented –
1) By Component: Standalone, Services
2) By Security Type: Web, Mobile, Application Programming Interface
3) By Deployment Mode: Cloud, On-Premises
4) By Enterprise Size: Large, Small And Medium
5) By End User: Retail And E-Commerce, Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunication, Media And Entertainment, Defense And Security, Travel And Tourism, Healthcare, Energy And Utilities, Automotive And Aviation
By Geography:The regions covered in the bot mitigation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the bot mitigation market in 2023.
The Bot Mitigation Global Market Report 2024 furnishes information about the global bot mitigation market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.