DNS Security Software Market is expected to reach US$ 2,314.56 million by 2028

Published Date: 15 Feb 2022

Ongoing Implementation of Hybrid Working Styles to Provide Growth Opportunities for DNS Security Software Market During 2021–2028

 

According to our latest market study on “DNS Security Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Deployment and Organization Size,” the market was valued at US$ 1,200.41 million in 2021 and is projected to reach US$ 2,314.56 million by 2028; it is expected to grow at a CAGR of 9.8% from 2021 to 2028.

 

Since the beginning of the COVID-19 pandemic, corporate players have introduced changes in their operations by enabling flexible work schedules, allowing remote working, and enhancing the employee experience. The hybrid work models allow them to define a more flexible, digital, and rewarding future for their employees. According to an article published by GENESIS INTEGRATION, 55% of US workers want a work pattern that allows the mix of working from home and office. The article data also reveals that more than 2 in 5 working adults (42%) are willing to give up some percentage of their salary for higher flexibility at work. 74% of Gen Z would prefer either working from home or splitting work time between home and work, as per the article published by GENESIS INTEGRATION.

With a rise in the adoption of a potentially permanent hybrid workforce, chief information security officer CISOs and IT directors are devising strategies around securing their business operations and resources within and outside their protected walls. Having control over traffic between each remote worker and the organization’s applications is important to reduce DNS security issues and ensure smooth business operations. According to the IDC 2021 Global DNS Threat Report, 55% of respondents across industries from various geographies consider DNS security critical to protect remote workforces. The DNS over HTTPS (DoH) offers new opportunities for organizations adopting remote working, creating complexity in managing application access and overall security. Further, the DoH also brings privacy concerns, as confirmed by 75% of respondents in the Global DNS Threat Report published by IDC; they consider DoH via public providers the main risk in experiencing DNS attacks. Therefore, the growing implementation of hybrid work culture is creating significant opportunities for the future growth of the DNS security software market players.

 

The DNS security software market is segmented into deployment, organization size, and geography. Based on deployment, the DNS security software market is bifurcated into on-premise and cloud-based. The cloud-based segment held a larger revenue share in the global DNS security software market in 2020. Based on organization size, the DNS security software market is categorized into small and medium enterprises and large enterprises. The large enterprises segment held a larger revenue share in the global DNS security software market in 2020. Geographically, the DNS security software market is segmented into five key regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America held the largest revenue share in 2020, followed by Europe and APAC. The DNS security software market in APAC is projected to grow at the fastest rate from 2021 to 2028.

 

Impact of COVID-19 Pandemic on DNS Security Software Market

The tremendous spread of SARS-CoV-2 urged governments of different countries to impose strict restrictions on the movement of vehicles and humans. The consequent travel bans, mass lockdowns, and business shutdowns enacted by the governments affected economies and industries in various countries, especially in 2020. The lockdown imposition also resulted in the reduced production of commodities, goods, and services.

On the contrary, the COVID-19 pandemic contributed to the growth of the DNS security software market in 2020 as millions of employees were asked to work remotely by their companies for the first time in history. As employees accessed corporate systems via less-secure home and public Wi-Fi networks, the remote working practices led to a rapid increase in queries for DNS, which further resulted in a rise in cyberattacks targeting DNS. The incidence of DNS attacks further increased in 2021 due to ease in government regulations related to different fields and continued work from home. Therefore, the COVID-19 pandemic positively impacted the DNS security software market due to the increased need for DNS security software.

 

Akamai Technologies; Canadian Internet Registration Authority (CIRA); Comodo Security Solutions, Inc.; DNSFilter Inc.; DomainTools; Efficient IP; HelpSystems; Open Text Corporation; ScoutDNS, LLC; and TitanHQ are among the key players operating in the global DNS security software market.

 

DNS Security Software Market - by Geography, 2020 and 2028 (%)

DNS Security Software Market - by Geography, 2020 and 2028 (%)

Report : DNS Security Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment (On-Premise and Cloud-Based) and Organization Size (Small and Medium Enterprises and Large Enterprises)



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