BOT Security Market Size, Share & Trends Analysis Report By Component (Standalone Solution, Services), By Security Type (Web Security, Mobile Security, API Security), By Deployment Mode (Cloud, On-Premises), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Verticals (Retail and eCommerce, Media and Entertainment, Travel and Tourism, BFSI, Telecom, Government and Defense, Healthcare, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global BOT security market size was valued at USD 577.5 million in 2023 and is projected to reach a value of USD 2,742.7 million by 2032, registering a CAGR of 18.9% during the forecast period (2024-2032). The surge in unlawful bot traffic, the growing sophistication of botnet threats, and the increased use of APIs in industries such as eCommerce, travel, gaming, and others are all important drivers of the BOT Security Market share.

Bot security is the techniques and strategies to defend computer systems, networks, and applications against malicious bots. Bots, or robots, are automated programs that can execute various online jobs. While some bots are lawful and useful, such as search engine crawlers or chatbots, others are malicious and intended to cause harm.

The bot security market growth is driven by the increasing sophistication of botnet attacks, income loss for enterprises, and increased malicious bot traffic. However, as cybercrime becomes more profitable, the growth of the bot security sector may be limited. Furthermore, the growing integration of bot management and protection into current WAF and antivirus systems is expected to provide market potential for the bot security industry over the projection period.

Highlights

• Standalone Solution accounts for the largest share of the market based on components.
• API Security is the major security type in the market.
• Cloud deployment generates the highest revenue share of the market by deployment mode.

Market Dynamics

Global bot security market drivers:

Increasing cyber threats

The growing cyber dangers are a primary driver of the worldwide BOT security market. Malicious bots are used in a variety of cybercrimes, including credential stuffing, DDoS assaults, and data scraping, posing severe hazards to enterprises globally. Cyberattacks and cybercrime are growing in number and sophistication. By 2024, it is predicted that 22.3 billion gadgets globally will be connected to the Internet of Things. Credential stuffing is a cyber assault in which attackers use automated scripts or bots to try to log into user accounts using stolen credentials obtained from data breaches or leaks. These attacks are based on many people repeating passwords for various accounts. According to F5 Labs' 2023 Identity Threat Report, the average percentage of credential stuffing in untreated traffic is 19.4%. After mitigation, the average credential stuffing rate is 6.0%. Norton fell prey to a brute force credential stuffing attack in 2023, which targeted around 925,000 people. 

In contrast, Distributed Denial of Service (DDoS) attacks include flooding a target system, such as a website or network, with many traffic or requests, making it unreachable to legitimate users. Bots are commonly employed to enhance and carry out these attacks. In Q4, Cloudflare saw a 117% year-over-year rise in network-layer DDoS attacks and increased DDoS activity targeting Retail, distribution, and public relations websites during and around Black Friday and the holiday season. The increasing frequency and sophistication of bot-driven cyber threats, as indicated by credential stuffing assaults, DDoS incidents, and data scraping operations, highlight the crucial significance of strong BOT security measures for enterprises globally. As these risks evolve, the requirement for comprehensive BOT security solutions is projected to accelerate the worldwide BOT security market trend.

Global bot security market restraints:

Complexity and integration challenges

One of the critical challenges of BOT security is smoothly integrating the solutions into the current cybersecurity infrastructure. Many organizations use various security technologies, and maintaining compatibility and efficient communication between these tools and BOT security solutions can be challenging. A corporation may employ a combination of firewalls, intrusion detection systems (IDS), and security information and event management (SIEM) solutions. Integrating a new BOT security solution with these existing technologies while avoiding conflicts and maintaining smooth operations is complex.

Furthermore, organizations frequently operate in complicated environments with varied applications, some of which may need updated systems. Adapting BOT security measures for various applications, such as web, mobile, and APIs, necessitates meticulous design and execution. According to a poll conducted by Cybersecurity Insiders, 56% of cybersecurity professionals identified integration problems as a significant hurdle to establishing efficient security operations. The survey underlines the need for seamless integration to improve overall cybersecurity posture.

In addition, as businesses grow, so does the volume of network traffic and the number of users. It is critical to ensure that BOT security solutions can scale to meet increasing needs while maintaining performance.

Global bot security market opportunity:

Mobile security

People's daily lives now rely heavily on mobile devices such as smartphones and tablets. The growing reliance on mobile apps for various activities, including banking, shopping, and communication, allows evil bots to attack these platforms. Global app downloads hit 257 billion in 2023, up 1% from the previous year. In the first half of 2023, global users downloaded about 77 billion apps, a more than 3% increase over the same period in 2022. The Google Play Store has more downloads than the Apple App Store, with 113.2 billion in 2023, compared to 34.9 billion for iOS. Malicious bots frequently use mobile applications to launch account takeover assaults. These attacks involve automated attempts to gain unauthorized access to user accounts via stolen credentials obtained through data breaches or other ways. Akamai's "2021 Credential Stuffing Report" indicates that the financial services industry, which frequently includes mobile banking applications, is a top target for credential stuffing assaults. The research cites a considerable increase in such attacks on the banking sector.

Moreover, Mobile application security is critical for providing a great user experience while protecting enterprises' and service providers' reputations. Users expect their mobile interactions to be safe, and a compromise can cause reputational harm. According to a Harris Poll poll done for IBM, 75% of respondents believe that a company's reputation for data security is highly significant. This highlights the importance of security, including BOT security, in preserving customer trust. The extensive usage of mobile applications, the particular vulnerabilities posed by malicious bots targeting mobile accounts, and the significance of ensuring a secure and trustworthy mobile user experience all contribute to the opportunity for BOT security solutions. As mobile usage grows, businesses and organizations must have strong BOT security measures to safeguard their mobile applications and users from increasing cyber threats.

Regional Analysis

North America Dominates the Global Market

The global BOT security market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America is the most significant global BOT Security market shareholder and is estimated to grow at a CAGR of 18.7% over the forecast period. The region's market growth is expected to be supported by the early adoption of BOT management and the existing manufacturers' provision of BOT security measures. Bot security solutions help avoid cyber-attacks, protect data, and assure firm sustainability. According to research, 72% of harmful bot traffic in 2023 will originate in North America. This is partly due to the prevalence of public clouds such as Amazon Web Services (AWS) and Microsoft Azure. In 2023, hosting providers account for 67% of malicious bot traffic, with 33% coming from residential and other IP addresses. The United States and Canada prioritize R&D-based innovations and technologies. Botnet detection solutions to secure websites, mobile apps, and APIs are predicted to generate the highest revenue in the global market.

Asia-Pacific is anticipated to exhibit a CAGR of 13.4% over the forecast period. During the projected period, the market in the area is expected to grow the fastest. These initiatives are gaining popularity in emerging markets. The region's growing economies comprise China, Japan, India, and other Asia-Pacific countries. In October 2021, POKKT Mobile Ads (POKKT), an e-commerce platform, and HUMAN Security, which provides collective security against threats and fraud, established a cooperation with AnyMind Group's POKKT Mobile Ads (POKKT) service.

Europe holds a significant market share. Germany controls a substantial part of the European bot security industry. The country has enacted strict legislation, such as the General Data Protection Regulation (GDPR) and the Federal Data Protection Act (BDSG), which require enterprises to install severe security measures, including bot protection, to secure user data. Germany has a culture of constant improvement when it comes to security measures. Organizations regularly examine and update security policies to keep up with evolving bot threats. This drive to remain current and invest in solid security measures helps to build the bot security business in Germany.

Segmental Analysis

The global BOT security market is segmented based on components, security type, deployment mode, organization size, and verticals.

The market is further segmented by component into Standalone Solutions and services.

Standalone Solution accounts for the largest share of the market.

Standalone Solution

Standalone BOT security solutions are sophisticated, self-contained software applications created mainly to solve the issues faced by hostile bots. These systems run independently, offering a committed and targeted approach to bot identification, mitigation, and prevention. Standalone BOT security solutions frequently use advanced technology, such as machine learning and behavioral analysis, to detect and prevent automated threats. These solutions can be installed independently and do not require integration with other cybersecurity tools. Businesses may choose standalone solutions when looking for specialized and focused protection against bot-driven attacks, highlighting the importance of a dedicated layer of security to secure their digital assets.

Services

The services section of the BOT security market includes a variety of offers that supplement and improve the performance of standalone solutions. These services may include implementation, integration, consulting, training, and continuing support from cybersecurity professionals. Integration services include smoothly integrating BOT security measures into an organization's cybersecurity architecture. Consulting services assist firms in determining their specific security needs and developing personalized methods. Training services ensure that employees are proficient in detecting and responding to bot threats. Ongoing support consists of regular updates, monitoring, and issue response assistance. These services complement the capabilities of standalone solutions, giving a comprehensive approach to BOT security tailored to each organization's requirements and concerns.

By Security type, the market is fragmented into Web, Mobile, and API Security.

API Security is the primary security type in the market.

API Security

API security protects Application Programming Interfaces (APIs), allowing different software applications to communicate and exchange data. APIs are critical components of modern IT ecosystems, allowing for integrating various systems and services. API security methods include authentication, encryption, and access controls to enable a secure and regulated data exchange between apps. API security is critical to preventing unauthorized access, data breaches, and other harmful activities that could exploit API layer flaws. As enterprises rely more on interconnected systems, API security becomes critical to securing sensitive data and ensuring the integrity of digital interactions.

Mobile Security

Mobile security protects smartphones, tablets, and other mobile devices from cyber-attacks. This security type handles issues including mobile malware, illegal access, and data breaches, which might jeopardize sensitive information stored on or transferred via mobile devices. Mobile security solutions include antivirus software, mobile device management (MDM) systems, and safe app development standards. Given the extensive usage of mobile devices for personal and corporate purposes, mobile security is critical for ensuring user data privacy and security, preventing financial fraud, and defending against mobile-specific threats such as SMS phishing and malware.

Based on deployment mode, the market is classified into Cloud and on-premises.

Cloud deployment generates the highest revenue share of the market.

Cloud

Cloud deployment entails hosting and providing BOT security solutions over a cloud computing architecture. A third-party cloud provider delivers and manages the BOT security software and services in a cloud deployment architecture. This has various benefits, including scalability, flexibility, and access from anywhere with an internet connection. Cloud-based BOT security solutions are ideal for enterprises that want to outsource their cybersecurity infrastructure, save money upfront, and benefit from automatic upgrades and fixes. This deployment methodology is consistent with businesses using cloud services to increase agility and resource efficiency.

On-Premises

On-premises deployment is installing and operating BOT security solutions on an organization's physical infrastructure. In this arrangement, the company is responsible for acquiring, installing, and maintaining the hardware and software required for BOT security. On-premises implementation allows for better control and customization of security measures, making it ideal for sectors with solid regulatory compliance requirements or specialized security policies.

The market is sub-segmented by organization size into Small and Medium-sized Enterprises (SMEs) and large Enterprises.

Large Enterprises occupy the maximum share of the market.

Large Enterprises

Large enterprises have large operations, sophisticated IT infrastructures, and significant resources. These organizations frequently manage large volumes of sensitive data, making them prime targets for sophisticated bot assaults. BOT security solutions for large businesses often provide advanced functionality, customization options, and integration with current cybersecurity frameworks. Large companies may need scalable systems that can adapt to the changing nature of their operations.

Small and Medium-sized Enterprises (SMEs)

Small and medium-sized companies (SMEs) operate on a smaller scale than significant enterprises. Regarding BOT security, SMEs confront particular obstacles, such as limited resources, budget limits, and potentially less advanced IT infrastructure.

The market can be further bifurcated by verticals into Retail and eCommerce, Media and Entertainment, Travel and Tourism, BFSI, Telecom, Government and Defense, and Healthcare.

Retail and eCommerce influenced the market growth.

Retail and eCommerce

The Retail and e-commerce vertical includes firms that sell goods and services to consumers through various online and offline channels. BOT security is critical in this industry to protect online transactions, prevent account takeover fraud, and safeguard customer data. Retailers and eCommerce platforms frequently face threats such as credential stuffing assaults, inventory scraping, and fraudulent activities, making strong BOT security measures critical to the integrity of their digital operations.

BFSI

Banks, insurance businesses, and investment firms are examples of corporations that provide financial services under the BFSI vertical. BOT security is crucial in this industry to avoid account takeovers, illegal access to sensitive financial data, and fraudulent transactions.

Recent Developments

• December 2023- Thales completed its acquisition of Imperva, creating a global leader in cybersecurity.
• February 2024- Akamai launched Content Protector to prevent scraping attacks.
• December 2023- Radware offered 360-degree cloud application and network security for the court.