Research Nester’s recent market research analysis on “Bot Mitigation Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global bot mitigation market in terms of market segmentation by security type, component, deployment mode, enterprise size, end user, and by region.
Growing Cases of Account Hijacking to Promote Global Market Share of Bot Mitigation
The global bot mitigation market is estimated to grow majorly on account of the rising instances of bot attacks. In one reported attack, operators invested 60 hours undertaking over forty-four million login attempts. The easy accessibility of compromised credentials has fueled a spike in these large-scale attacks, which can put tremendous strain on infrastructure. A massive volume of bot traffic connected with a wide-scale credential stuffing attack can create slowdowns or outages comparable to a DDoS attack. Between 2021 and 2022, the number of attacks increased by 155%. During the third quarter of 2022, companies have discovered a clear association between data breaches and account hijacking attacks. A claimed 70% increase in data breaches worldwide corresponded to a 40% increase in account takeover attacks documented at the same time.
Some of the major growth factors and challenges that are associated with the growth of the global bot mitigation market are:
Growth Drivers:
• Bad Bot Surpassing Good Bot and Human Traffic on the Web
• Rising Investment for the Bot Security
Challenges:
The types of bad bots have become advanced and have a close resemblance to humans, which makes it even more difficult for current bot security solutions to distinguish them. This factor is likely to stifle the market growth. Moreover, many mediocre businesses find it expensive to implement advanced bot-mitigating solutions. Therefore, these are some of the major factors anticipated to hamper the global market size of bot mitigation.
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By end user, the global bot mitigation market is segmented into retail & e-commerce, BFSI, it & telecommunication, media & entertainment, defense & security, travel & tourism, healthcare, energy & utilities, and automotive & aviation. The retail & e-commerce segment is to garner the highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The growth of the segment is majorly expected on account of rising traffic on the e-commerce sites and the growing financial loss due to bot attacks.
By region, Europe, amongst the market in all the other regions, is projected to hold a notable share by the end of 2036. The growth of the market can be attributed majorly to the growing instances of manipulated chatbots in the region Chatbots can be exploited by hackers to inflict terrifying real-world effects, according to the UK's cybersecurity agency. According to the National Cyber Security Centre (NCSC), the cybersecurity risk of individuals manipulating is increasing and is prompted via "prompt injection" attacks. Regulators throughout Europe are investigating whether ChatGPT conforms with privacy standards, following Italy's decision to restrict the popular chatbot driven by artificial intelligence (AI).
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https://www.researchnester.com/reports/bot-mitigation-market/5413