Bot Security Global Market Report 2024

The bot security market size has grown rapidly in recent years. It will grow from $0.63 billion in 2023 to $0.75 billion in 2024 at a compound annual growth rate (CAGR) of 19.7%. The expansion observed during the historical period can be attributed to several factors, including a rise in bad bot traffic, growing concerns regarding cybersecurity, an increase in incidents of bot-driven cyber-attacks targeting sensitive data and financial assets, a surge in bot attacks, and the emphasis on regulatory compliance within the cybersecurity landscape.

The bot security market size is expected to see rapid growth in the next few years. It will grow to $1.51 billion in 2028 at a compound annual growth rate (CAGR) of 14%. Anticipated growth in the forecast period can be attributed to several factors, including the protection of brand reputation, increased awareness among organizations regarding the potential risks associated with bot activities, the continued growth of e-commerce, widespread adoption of machine learning technologies, and the influence of social media. Major trends expected during this period encompass the shift of traffic from web to mobile platforms, ongoing technological advancements, the development of advanced bot detection and mitigation techniques leveraging machine learning and behavioral analysis, as well as the utilization of bot detection techniques and behavioral biometrics to enhance security measures.

The anticipated rise in bad bot traffic is poised to propel the expansion of the bot security market in the coming years. Bad bot traffic, characterized by non-human traffic directed towards malicious or harmful websites, encompasses activities such as carding, account hacking, credential stuffing, and website content theft. The proliferation of bad bot traffic is expected to drive organizations across various sectors to invest in robust bot security solutions to protect their online assets and mitigate the risks associated with malicious activities. As the threat landscape evolves and the frequency and sophistication of bot attacks increase, there will be an escalating demand for advanced bot security measures capable of efficiently detecting, blocking, and neutralizing malicious bot traffic. For instance, as reported by Imperva Inc., a US-based cyber security software and services company, bad bot traffic constituted 25.6% of all website traffic in 2021, marking a 6.2% increase from 2020. Consequently, the surge in bad bot traffic is fueling the growth of the bot security market.

Prominent companies in the bot security market are at the forefront of developing innovative technologies, such as Software as a Service (SaaS)-based security portfolios, to safeguard applications. A SaaS-based security portfolio encompasses cloud investments made by organizations as part of their Software as a Service (SaaS) offerings, with a focus on assessing the security measures implemented by each SaaS vendor, ensuring data privacy, and meeting compliance standards. For example, in December 2022, F5 Inc., a US-based technology company specializing in application and network security, introduced Cloud App Infrastructure Protection (AIP). This solution extends application observability and protection to cloud-native infrastructures through cloud workload protection, leveraging behavioral analysis to identify insider risks, external threats, and data loss risks in modern applications. Additionally, it detects vulnerable components and potentially malicious activity in real-time. Cloud App Infrastructure Protection (AIP) enhances conventional Web Application and API Protection (WAAP) solutions by offering improved security visibility and protection against contemporary threats. It provides comprehensive telemetry and threat detection capabilities, thereby bolstering security posture, detecting vulnerable components, and defending against modern threats.

In January 2023, Forter, a software-as-a-service company headquartered in the United States, specializing in identity protection solutions, successfully acquired Immue for an undisclosed sum. This strategic acquisition is intended to bolster Forter's fraud management capabilities by incorporating Immue's cutting-edge technology into its core platform. Immue, also based in the US, is recognized for its expertise in bot detection and provides a range of solutions including bot mitigation layers, an advanced Captcha system, and mechanisms to regulate bot activity during peak periods such as hype and flash sales.

Major companies operating in the bot security market report are Alibaba Cloud, CDNetworks Inc., Akamai Technologies, Citrix Systems Inc., F5 Networks Inc., Cloudflare Inc., Imperva Inc., Fastly Inc., AppsFlyer Ltd., Limelight Networks Inc., Radware Ltd., Shape Security Inc., Sophos Ltd., Kount Inc., Cequence Security Inc., DataDome, PerimeterX Inc., Netacea Ltd., Secucloud Network GmbH, Botguard, Arturai Inc., Reblaze Technologies Ltd., Variti International GmbH, Myra Security GmbH, AuthSafe GmbH., InfiSecure Technologies Inc.

North America was the largest region in the bot security market in 2023 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the bot security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bot security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Bot security involves protecting against harmful bots while ensuring the reliability and accessibility of online assets, all while preserving the beneficial functions of legitimate bots that support various activities such as e-commerce transactions, virtual assistance, and customer service automation through chatbots on websites. By implementing bot protection and mitigation strategies, organizations can mitigate the influence of malicious bots and enhance their overall cybersecurity posture.

Key components of bot security include solutions and services. Bot security solutions encompass a range of technologies, tools, and practices aimed at detecting, mitigating, and preventing malicious bot activities targeting digital assets. These solutions include various types of security measures such as web security, mobile security, and application programming interface (API) security, which can be deployed in both cloud-based and on-premises environments. Industries ranging from retail and e-commerce to banking, financial services, insurance (BFSI), government and defense, healthcare, media and entertainment, travel and hospitality, and information technology (IT) and telecom verticals utilize bot security solutions to safeguard their digital assets.

The bot security market research report is one of a series of new reports that provides bot security market statistics, including bot security industry global market size, regional shares, competitors with a bot security market share, detailed bot security market segments, market trends and opportunities, and any further data you may need to thrive in the bot security industry. This bot security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bot security market consists of revenues earned by entities by providing services such as bot detection and mitigation, bot management, behavioral analysis, and rate limiting. The market value includes the value of related goods sold by the service provider or included within the service offering. The bot security market also includes sales of web application firewalls (WAFs), servers, network devices, and storage systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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