According to a survey published by Fior Markets, the Bot Security Market is predicted to rise from USD 3.4 billion in 2020 and reach USD 30.77 billion by 2028, growing at a CAGR of 31.7% during the forecast period 2021-2028.
Organizations are implementing botnet detection systems to guard against advanced persistent bots as a result of the growth in bot attacks. It is anticipated that botnet detection technologies can reliably detect and categorize bot kinds, bot traffic, and their origins for both public and private enterprises. As a result of the increased requirement for protection against malicious bot traffic, the Bot Detection market is expected to grow globally. Botnet detection aids in server load reduction and bandwidth cost reduction. Additionally, the Botnet identification technology aids in improving the user experience across their websites. Several constraints and obstacles will stifle market expansion. One of the biggest roadblocks is the global preference for traditional BOT security measures over the Botnet Detection system. It slows down the growth of the Botnet Detection market to some extent. In addition, there is a lack of knowledge regarding BOT issues among internet users. During the predicted years, these factors may stymie the industry.
A botnet is an internet-connected network of autonomous programs or bots, including PCs, servers, mobile devices, and internet of things devices. A bot is an individual device in a botnet that is established when a computer is infected with software that allows third-party control. Users are frequently unaware that their computer has been infected by a botnet. These infestations and malicious behaviors can be identified via botnet detection.
The growth of bad bot traffic, the increasing complexity of botnet assaults and the resulting loss of revenue for businesses, the shift from mobile to online traffic, and the explosion in the use of APIs across industries such as eCommerce, travel, gaming, and others are all major driving factors for the Bot Security Market. Bot detection software is used in several industries, including banking and finance, IT and telecommunications, media and entertainment, healthcare, government, and defense. Cybercriminals, malware operators, tool suppliers, programmers, and affiliate programs are all part of this business, and their goods, such as do-it-yourself malware kits, spam-sending, data theft, and launching DDoS assaults, can all be readily bought online from a variety of sources. In different areas of the world, the rise of ideological and state-driven assaults that target people or organizations to support a political cause or carry out a cyber warfare campaign is being seen, and organizations are finding it difficult to combat these attacks. Botnet assaults, according to industry analysts, may be carried out across several organizations throughout the world employing similar techniques.
Key players operating in the global Bot Security Market include Akamai Technologies (US), Cetacea (UK), Imperva (US), PerimeterX (US), Cloudflare (US), Radware (Israel), Fastly (US), F5 (US), Reblaze (Israel), DataDome (France), Sophos (UK), Shape Security (US), AppsFlyer (US).
To extend their footprint in the bot security industry, these companies have used a variety of growth methods, including partnerships, agreements, collaborations, new product releases and improvements, and acquisitions. The most often used strategies by the main companies have been partnerships, agreements and collaborations, and new product releases.
The retail and eCommerce segment held the largest market share of 29% in the year 2020
Based on Vertical, the global Bot Security Market is segmented into Retail and eCommerce, Media and Entertainment, Travel and Hospitality, Banking, Financial Services, Insurance, IT and Telecom, Government and Defense, Healthcare, and Life Sciences. The retail and eCommerce segment led the market and held the largest market share of 29 % in the year 2020. Bad bot attacks, such as denial of inventory, scalping, scraping, credential stuffing, and Layer 7 DDoS assaults, mostly target online retail and e-commerce firms. These assaults can cause a website’s performance to suffer, as well as downtime, the disclosure of important client information, and revenue loss. According to a Forrester Research poll of 400 respondents, 63 percent said web scraping assaults alone cost them between 1% and 10% of their income. These types of assaults cause technical issues and have a financial impact. As a result, strong security measures against harmful bots must be implemented and maintained by online merchants. Walmart recently recorded over 20 million bot attempts inside the first 30 minutes of a PS5 replenishment event in 2020. Building consumer trust requires ensuring the availability and security of e-commerce platforms, networks, and apps. As a result, bot security solutions for retail and e-commerce are likely to boom in the next years.
Mobile App Security segment held the largest market share of 38% in the year 2020
Based on Application, the global Bot Security Market is segmented into Website Security, Mobile App Security, and Application Programming Interface Security. The Mobile App Security segment dominated the market and held the largest market share of 38% in the year 2020. because of the fast-rising smartphone prevalence, which leads to an increase in the number of mobile platform assaults helped by improvements in circumventing contemporary authentication techniques
