Botnet detection market to be US$11 billion by 2032: FMI
According to the latest botnet detection market analysis by Future Market Insights (FMI), the adoption of botnet detection is estimated to grow with a CAGR of 33.6% from 2022 to 2032. The report states that the market is expected to have reached a valuation of US$635.4 million by the end of 2022. As per FMI, companies should build advanced bot managers to mitigate and manage bot traffic.
Some key takeaways from the FMI Botnet Detection Market report are as follows.
By component, the solution segment is anticipated to account for the leading share in the global demand for botnet detection during the forecast period. However, the services segment is estimated to grow at a robust CAGR of 34.7% through 2032.
By deployment, the cloud-based segment is anticipated to grow at a CAGR of 35% between 2022 and 2032.
Among the enterprise size, the large enterprise segment is anticipated to hold the largest share of the global market and is estimated to increase at a CAGR of 33% between 2022 and 2032.
By industry, the media and entertainment segment is anticipated to grow at a CAGR of 35.9% between 2022 and 2032.
North America is dominating the botnet detection market, followed by Europe in 2022. However, South Asia and the Pacific are estimated to grow the fastest over the forecast period.
The market in the U.S. is expected to progress at a CAGR of around 33.9% through 2032.
In India, the botnet detection market is expected to grow at a CAGR of 39.2% during the forecast period.
The botnet detection market in China is estimated to witness an absolute opportunity of US$955.2 million in the forecast period.
Increasing smartphone penetration is one of the key reasons responsible for the growth of the botnet detection market. For instance, according to the FMI analysis, in February 2022, smartphone subscription recorded seven billion and is forecasted to reach eight billion by 2027. As a result, in the last few years, smartphone botnets have become very popular. Moreover, android software is highly vulnerable to malware and is constantly targeted by hackers owing to the operating system's popularity worldwide.
In terms of competitive analysis, the report states that botnet detection market players are focusing on various strategies for increasing their investments in research and development to support future technologies.
In addition, several companies are acquiring and entering into partnerships with other companies to develop their botnet detection to serve customers and increase company market shares across geographies.
Botnet detection is a technique used to recognize a botnet, a computer network under the control of a malicious user. The botnet detection technique is built upon the traffic analysis between the botmaster and the bot. However, some botnets are very hard to notice since they utilize HTTP service for communication with each other, and their communication is generally in an encrypted format.
To guard against malware assaults, any enterprise must include botnets by protecting even the weakest link in the enterprise system and network. Therefore, it is essential to remove a botnet after it has been identified in a system with the help of safety software. Additionally, it is necessary to maintain proactive efforts to detect botnets after their elimination.
Companies like Akamai Technologies, Imperva, Distil Networks, and PerimeterX are a few of the primary players in the market, offering advanced solutions in the botnet detection market.
For instance, Akamai Technologies holds a vision to stand out, addressing the growing collaboration between security and line of businesses, recognizing the evolution of bot operations, and protecting the end-customer journey.
The company recently launched adjacent offerings like account protector and audience hijacking protection. Furthermore, the company offers a bot manager to manage and mitigate the impact of bot traffic.
Furthermore, awareness initiatives adopted by prominent players in the cyber security landscape and increasing government initiatives to remove botnets from their online space are expected to overcome this restraint soon.
However, the usage of traditional botnet detection methods by various enterprises coupled with a lack of awareness is responsible for restraining the growth of the botnet detection market, FMI notes in its report.