Newark, NJ, May 10, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global intrusion detection and prevention systems market is expected to grow from USD 4.57 billion in 2020 and to reach USD 9.04 billion by 2028, growing at a CAGR of 8.89% during the forecast period 2021-2028.
The intrusion detection and prevention systems market is witnessing significant growth in the past years. This growth is attributed to increasing government pressure on compliance with policy and regulations and changing the digital scene. Additionally, the IT budget for large enterprises and small and medium-sized enterprises (SMEs) has expanded numerous folds; as a result, these companies are now investing in advanced solutions like IDPS.
Intrusion detection and prevention systems are network security solutions deployed, designed, and developed to prevent and detect any recognized threats. Some IDPS can respond to identified intrusion upon discovery. Any spiteful violation is usually described to an administrator or collected centrally utilizing a security information and event management system. They monitor the web and look for potential spiteful occurrences, and further capture vital information regarding them.
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The global intrusion detection and prevention systems market is expected to witness significant growth, owing to rising disposable income in various developing & developed countries. Additionally, smartphone and tablet propagation has increased mobility and broad acceptance of cutting-edge intrusion detection technologies in IT companies. Further, the development in semiconductor technology like palm veins, LED and photodiode, iris recognition, biometrics technology gives fingerprint, face recognition, retina authentication, and DNA. Integration of detection system with such authentication system fulfills the high-security demand of specific industries, contributing to market growth in the coming years. The factors restraining the market growth are the high product and installation cost and the absence of a skilled security workforce. The opportunity for market growth is the increasing market for cloud-based businesses.
Key players operating in global intrusion detection and prevention systems market include Corero Network Security, Inc., Check Point Software Technologies Ltd., Extreme Networks, Inc., IBM Corporation, NSFOCUS, Inc., Juniper Networks, Inc., Dell EMC, Cisco Systems, Inc., McAfee LLC, Hewlett Packard Enterprise Development LP (HPE), and among others. To gain a significant market shares in the global intrusion detection and prevention systems market.
- For example, in 2020, Palo Alto Networks declared the acquisition of Expanse Inc., a conductor in exterior attack administration. This acquisition is intended to bring a single level of clarity to protection through continuously scanning revealed assets.
Network-based intrusion detection system segment dominated the market and held the largest market share of 40.13% in the year 2020
On the basis of type, the global intrusion detection and prevention systems market is segmented into wireless intrusion detection system, network-based intrusion detection system, and host-based intrusion detection system. Network-based intrusion detection system segment dominated the market and held the largest market share of 40.13% in the year 2020. This growth is attributed to examining network traffic, monitoring multiple hosts, and connecting to a core or web switch configured for port mirroring.
Cloud segment dominated the market and held the largest market share of 58.12% in the year 2020
On the basis of deployment, the global intrusion detection and prevention systems market is segmented into infrastructure and cloud. Cloud segment dominated the market and held the largest market share of 58.12% in the year 2020. This growth is attributed to the lower cost and characteristics like cost-efficiency, scalability, agility, and speed.
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Solutions segment dominated the market and held the largest market share of 60.12% in the year 2020
On the basis of component, the global intrusion detection and prevention systems market is segmented into services and solutions. The solutions segment is sub segmented into hardware and software. Solutions segment dominated the market and held the largest market share of 60.12% in the year 2020. This growth is attributed to the easily installed on the network and gives intrusion detection and prevention abilities.
BFSI segment dominated the market and held the largest market share of 24.17% in the year 2020
On the basis of vertical, the global intrusion detection and prevention systems market is segmented retail & e-commerce, government & defense, BFSI, manufacturing, healthcare, IT & telecom, and others. BFSI segment dominated the market and held the largest market share of 24.17% in the year 2020. This growth is attributed to the increasing malicious attacks through various networks. Additionally, there is an increase in the requirement for the protection and integrity of private information in numerous financial companies.
Regional Segment of Intrusion Detection and Prevention Systems Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global intrusion detection and prevention systems market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region holds the largest market share in the year 2020. This growth is attributed to the high-security awareness in the developed regions. Additionally, the accelerated growth in technological innovations and stringent regulations against cyberattacks are contributed to the regional growth. The Asia Pacific is expected to witness significant growth, owing to rising investment in infrastructure and development of data centers through major IT companies. Additionally, the high burglary rates and the increase in customer disposable income are also anticipated to propel market growth.
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About the report:
The global intrusion detection and prevention systems market is analysed on the basis of value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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