The North America Bot Security Market would witness market growth of 19.2% CAGR during the forecast period (2022-2028).
Bots, like people and programs, need credentials to access company resources and sensitive data in order to carry out administrative responsibilities. As the utilization of bots within enterprises grows, so does the number of credentials required to execute their functions. While this is also feasible with a limited number of robots, managing and monitoring credentials across a large number of bots can rapidly become stressful unless such credentials are stored centrally. Additionally, many firms include privileged credentials in RPA automation scripts to make them ideal targets for malicious attackers. Cyber criminals can also use privileged credentials in order to install malware, launch attacks, or steal sensitive information. Moreover, several organizations also use manual methods to rotate and update privileged credentials, which are fundamentally wasteful, go against the aim of employing automation, does not scale effectively, and introduces new security vulnerabilities. Credentials that have been compromised can remain active continuously, putting the company at risk.
The adoption rate of this region for advanced technologies and solutions is high due to the presence of developed nations like Canada and the US. Early acceptance of BOT management along with a substantial number of manufacturers supplying BOT security measures all over the region are expected to drive growth in the regional market. Bot security solutions are used to protect online businesses from cyber-attacks, provide data security and data privacy in order to ensure the company's long-term viability.
Moreover, the demand is also being driven by the growing threat of bots causing havoc on governments. For example, the US Department of Defense observed the rapid spread of malware affecting government activities and commercial networks in 2018 and requested enhanced automated ways to avoid the attacks. The United States and Canada significantly emphasize on technological breakthroughs and R&D-based breakthroughs.
The US market dominated the North America Bot Security Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $375.9 million by 2028. The Canada market is poised to grow at a CAGR of 21.9% during (2022 - 2028). Additionally, The Mexico market would display a CAGR of 20.8% during (2022 - 2028).
Based on Component, the market is segmented into Standalone Solution and Services. Based on Security Type, the market is segmented into Web Security, Mobile Security, and API Security. Based on Deployment Model, the market is segmented into Cloud and On-premise. Based on Organization size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into Retail & E-commerce, IT & Telecom, BFSI, Government & Defense, Healthcare & Life Sciences, Travel & Tourism, Media & Entertainment, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Bot Security Market is Estimated to reach $1.4 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akamai Technologies, Inc., Imperva, Inc., Limelight Networks, Inc., Cloudflare, Inc., Citrix Systems, Inc., Fastly, Inc., F5 Networks, Inc., Sophos Group PLC, Reblaze Technologies Ltd., and Alibaba Cloud (Alibaba Group Holdings Limited).
By Component
By Security Type
By Deployment Model
By Organization size
By Vertical
By Country
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