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Bot Security Market
Bot Security Market
The global stretch and film market is projected to encounter a growth rate of 5.5% over the forecast period. Several factors steering the bot security market growth include, rising traffic of bad bots, increasing usage of API, and rapid digitalization.
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Bot Security Market Dynamics
The augmenting demand for bot security applications guided by the accelerating number of attacks is one of the chief forces steering the growth of the global bot security market. As per the report published by Imperva bad bot, there was a sudden surge in the deployment of bot activity in the sporting and gambling industry in 2021. The report also stated that nearly 27.7% of overall traffic on gambling and gaming sites was connected with an advanced persistent bot (APB), a bot that mimics human behaviour. Also, the rising Account Takeover (ATO) and loss of income for the enterprise has led to market growth. ATO is a type of fraud where cybercriminals use a virus to obtain an illegal access to accounts belonging to someone else. This might lead to financial fraud, stealing personally identifiable information, or private business information. The Imperva bad bot report 2021 asserts that on an average, websites suffer an ATO attack around 16% of the time. Thus, the growing awareness regarding data privacy will propel bot security market size. Apart from this, the rigorous government norms pertaining data privacy increases the incorporation of bot security and protection into existent anti-virus and WAF programs. According to United Nations Conference on Trade and Development, nearly 66% of nations had legislation to safeguard data privacy.
However, as per the bot security market research, cybercrime has evolved to be a profitable industry. Political and state-driven attack movements directed at organizations to encourage political affairs or conduct cyber-warfare acts are spotted across the nation, where organizations find it difficult to handle these attacks.
Component Segment Drivers
Based on the component, the services segment is anticipated to witness a sturdy boom during the forecast period. The augmenting acquisition of bot security platforms also improves the demand for services such as executing, deploying, and sustaining the bot security platform in an organization. The hacker uses sophisticated technology such as Artificial Intelligence and Machine Learning to upgrade the bot to mimic human behavior. In this case, bot security platforms are needed to be trained, supported, and maintained to impede attacks.
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