Bot Security Market Growing at a CAGR 19.2% | Key Player Cloudflare, Radware, Perimeterx, Imperva, Akamai Technologies

July 16 15:41 2021
Bot Security Market Growing at a CAGR 19.2% | Key Player Cloudflare, Radware, Perimeterx, Imperva, Akamai Technologies

Akamai Technologies (US), Imperva (US), PerimeterX (US), Cloudflare (US), Radware (Israel), Fastly (US), F5 (US), Sophos (UK), Reblaze (Israel), Netacea (UK), DataDome (France), Shape Security (US), AppsFlyer (US), Alibaba Cloud (China), SecuCloud (Germany), Kount (US), Limelight Networks (US), Arturai (Portugal), CDNetworks (US), Citrix (US), InfiSecure (India)
Bot Security Market by Component (Standalone Solution, Services), Security Type (Web, Mobile, API), Deployment Mode, Organization Size, Vertical (Retail & E-commerce, Media and Entertainment, Travel and Hospitality) and Region – Global Forecast to 2026

The global Bot Security Market size is projected to grow from USD 408 million in 2021 to USD 983 million by 2026, at a Compound Annual Growth Rate (CAGR) of 19.2% during the forecast period. Major driving factors for the bot security market include rise in bad bot traffic; increasing sophistication of botnet attacks and loss of revenues for organizations; shift of traffic from mobile to web; and surge in use of APIs across businesses such as eCommerce, travel, gaming, etc.

By component, the services segment to register a higher growth rate during the forecast period

The services segment includes various services that are required to deploy, execute, and maintain the bot security platform in an organization. As the adoption of the bot security platform increases, the demand for these services is also expected to increase. Bot security can be provided through Managed Security Services (MSS) analysts who provide remote assistance and incident response to clients in case of suspicious activities. Professional services include training and education, and support and maintenance. As the adoption of the bot security platform increases, the demand for these services is also expected to soar. Bot security services ensure 24/7 protection against increasingly sophisticated architectures, SOCs manned by security experts, and quick incident response services. Bot security vendors offer customized subscriptions and professional services to assist end users in easy planning and deployment of bot security platform.

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Based on vertical, the retail and eCommerce segment to grow with the largest market size during the forecast period

Online retail and e-commerce businesses are largely the targets of bad bot attacks such as denial of inventory, scalping, scraping, credential stuffing, and Layer 7 DDoS attacks. These attacks can lead to poor website performance, site downtime, exposure of sensitive customer data, and lost revenue. According to Forrester Research survey, among 400 respondents, 63% reported losing between 1% and 10% of their revenue to web scraping attacks alone. Not only these kind of attacks causes technical problems, but it also impacts on the cost. Hence, it is crucial for the online retailers to implement and maintain robust security measures against malicious bots. Recently, in 2020 Walmart observed over 20 million bot attempts within the first 30 minutes from one PS5 restock event. Safeguarding the availability and security of e-commerce platforms, networks, and applications is critical to building customer trust. Hence, bot security solutions for retail and e-commerce are expected to have immense potential in the coming years.

Key and innovative vendors in the bot security market include Akamai Technologies (US), Imperva (US), PerimeterX (US), Cloudflare (US), Radware (Israel), Fastly (US), F5 (US), Sophos (UK), Reblaze (Israel), Netacea (UK), DataDome (France), Shape Security (US), AppsFlyer (US), Alibaba Cloud (China), SecuCloud (Germany), Kount (US), Limelight Networks (US), Arturai (Portugal), CDNetworks (US), Citrix (US), InfiSecure (India), Cequence (US), Variti (UK), Myra Tech (Germany), Botguard (Estonia), and AuthSafe (US).

These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the bot security market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2021 to innovate their offerings and broaden their customer base.

Imperva is a global provider of cybersecurity solutions and services that protect business-critical websites, applications, and databases. It specializes in DDoS protection, application security, database security, file security, cloud security, breach prevention, and cybersecurity platforms. Additionally, the company provides services, such as technical support, professional services, and training. Imperva has over 5,900 customers in more than 100 countries. The company has 280 direct and 580 indirect channel partners across the globe, including both distributors and resellers. Imperva has a worldwide presence, with offices set up in America, EMEA, and APAC. The company caters its products and services to a variety of end-user segments globally, including some of the world’s largest banks, retailers, insurers, technology and telecommunication companies, hospitals, and state and local government agencies. Imperva’s Advanced Bot Protection protects businesses from the effect of bad bot traffic.

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PerimeterX is a web security company that offers solutions to detect and protect websites, mobile apps, and APIs against malicious bots. The company’s bot protection solution monitors and catches real-time automated attacks, including earlier generation bots and sophisticated fourth-generation bot attacks (hijacked browsers and malware), undetected by various security solutions, such as WAFs and other signature-based tools. The company is headquartered in California, US and its R&D office is in Tel Aviv, Israel. PerimeterX Bot Defender is a behavior-based bot management solution that protects websites, mobile applications, and APIs from automated attacks. PerimeterX has been continuously tracking the COVID-19 situation. It released its PerimeterX Automated Fraud Benchmark Report: 2020 E-commerce Edition. This report examines the key trends in automated fraud; the data is captured from billions of online interactions, which may have been affected by malicious and non-malicious bots across the world’s largest websites, web apps, mobile apps, and APIs.

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