The Bot Security Market study includes an in-depth competitive analysis of these key players in the bot security market with their company profiles, recent developments, and key market strategies.

Northbrook, IL 60062 -- (SBWire) -- 12/21/2023 --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, according to research report by MarketsandMarkets™.

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 the use of APIs across businesses such as eCommerce, travel, gaming, etc.

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324 - Tables
47 - Figures
260 – Pages

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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.

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.

North America to hold the largest market share during the forecast period.

North America has several prominent market players delivering bot security solutions to all end-users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the bot security market's growth. The geographical presence, significant Research and Development (R & D) activities, partnerships, and acquisitions and mergers are the major factors for deploying bot security and services.

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Market Players

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).

Key Dynamic Factors For Bot Security Market:

Growing Complexity of Malevolent Bots003A`

The capabilities of harmful bots are constantly being improved by threat actors, making them more complex and difficult to identify. Because of this, sophisticated bot security solutions that can recognise and neutralise new threats are required.

Increase in Robotic Assaults:

Automated assaults, such as account takeover, credential stuffing, and scraping, have become more common. For bot security systems to properly identify and stop these automated attacks, they must adapt.

Security of Mobile and Web Applications:

The need to defend online and mobile applications against bot-based attacks grows as people rely more and more on them. For complete protection, bot security solutions must work in unison with application security controls.

Issues with API Security:

API security gains prominence as businesses use APIs to integrate disparate systems seamlessly. APIs are frequently the target of bot assaults, so in order to stop misuse and unauthorised access, bot security solutions need to provide strong API protection.

Needs for Regulatory Compliance:

Organisations are subject to stringent requirements to secure user data due to data protection rules and compliance standards. To guarantee that companies are adhering to regulatory frameworks, bot security solutions must be compliant with these requirements.

Integration of AI and machine learning:

To keep ahead of increasingly complex attacks, bot security solutions must incorporate machine learning and artificial intelligence technology. Real-time pattern and behaviour analysis is made possible by these technologies, allowing for the detection and prevention of possible bot attacks.

Competitive and Segmentation Analysis:

The market for bot protection is very competitive, with multiple major vendors vying for market share as harmful bot attacks become more sophisticated. Businesses in this sector concentrate on creating cutting-edge solutions that can efficiently identify and counteract changing cyberthreats. Typically, industry verticals, organisation size, and deployment strategies are used to determine market segmentation. A wide range of services, such as real-time threat analysis, anomaly detection based on machine learning, API security, and integration with current cybersecurity ecosystems, are frequently provided by major participants in the bot security market. Because bot-based attacks continue to be diverse and complicated, industry firms are continually working on improving their systems through research and development.

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