By 2032, the bot security market is predicted to have grown from US$ 487 million in 2022 to US$ 2.5 billion. During the forecast period, the market is expected to grow at a CAGR of 17.6 percent.
The rise in bad bot traffic, the sophistication of botnet attacks and the resulting loss of revenue for businesses, the shift from mobile to web traffic, and the explosion in the use of APIs across industries like eCommerce, travel, gaming, and others are all major driving factors for the bot security market.
Growing botnet sophistication, a shift in traffic from mobile to web, rising awareness about data privacy, and a surge in API usage across a variety of industries, including retail and e-commerce, travel and hospitality, and telecom, are expected to drive bot security market growth over the forecast period, according to FMI’s global bot security market study.
Important Points to Remember
- North America dominated the global bot security market due to a high rate of adoption of current technology, early acceptance of bot security, and the existence of a large number of important businesses in the region. In 2021, the retail and eCommerce segment accounted for the biggest market share, and this trend is expected to continue shortly.
- The services segment of the bot security market has a lot of promise, and it’s expected to grow at a faster rate throughout the projected period.
- During the projected period, the standalone solution category is expected to grow at a CAGR of 17.2 percent.
The botnet security market is working on various growth techniques such as collaborations, mergers, and acquisitions to increase its market share, presence, and revenues. Key players are also buying other businesses to diversify their product offerings.
AppsFlyer, Imperva, Shape Security, Alibaba Cloud, DataDome, PerimeterX, Cetacea, Cloudflare, Sophos, Fastly, Akamai Technologies, F5, Radware, and Reblaze are some of the most creative bot security markets.