Intrusion Deduction And Prevention System Market Overview
The Business Research Company recently released a comprehensive report on the Global Intrusion Deduction And Prevention System Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company’s, The intrusion deduction and prevention system market size has grown strongly in recent years. It will grow from $5.21 billion in 2023 to $5.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increased frequency and sophistication of cyber attacks, advancement in technology, and increased insider threats.
The intrusion deduction and prevention system market size is expected to see strong growth in the next few years. It will grow to $7.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to expanding digitization, increased demand for robust security solutions, and increased mobility. Major trends in the forecast period include regulatory changes, cybersecurity threats landscape, economic conditions, market dynamics.
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Market Drivers and Trends:
The increasing cybersecurity threats are expected to propel the growth of the intrusion detection and prevention system market going forward. Cybersecurity threats refer to malicious activities or events that pose risks to information systems, networks, devices, and data. This threat arises because of reliance on technology, the expansion of attack surfaces, and a lack of cybersecurity awareness and education. Intrusion detection and prevention systems are used to proactively monitor networks, detect threats, and take preventive actions to safeguard against cyber attacks while ensuring the integrity, confidentiality, and availability of their systems and data. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, cyber crime reports received were 76,000 in 2022, up from 13% from the previous year. Therefore, the increasing cybersecurity threats are driving the growth of the intrusion detection and prevention system market.
Major companies operating in the intrusion deduction and prevention system market are developing innovative technological solutions, such as industrial intrusion prevention systems (IPS), to address the evolving cybersecurity landscape and enhance protection for critical infrastructure. It is a type of security solution that is designed to protect critical infrastructure and industrial networks from cyber threats by detecting and preventing malicious activities. For instance, in October 2022, Moxa Inc., a Taiwan-based technology company specializing in edge connectivity, introduced industrial intrusion prevention systems (IPS) on its EDR-G9010 Series secure routers, enhancing its cybersecurity capabilities for safeguarding critical infrastructure. This integration of IPS technology into the EDR-G9010 series transforms these routers into industrial next-generation firewalls, providing advanced threat detection and prevention features. This series is an all-in-one secure router with firewall, NAT (Network Address Translation), VPN (Virtual Private Network), and switch functionality. Additionally, IPS turns the EDR-G9010 Series into an industrial next-generation firewall equipped with threat detection and prevention capabilities to further protect critical infrastructure from cybersecurity attacks.
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Major Key Players of the Market:
AT&T Inc., Robert Bosch LLC, Hewlett Packard Enterprise Development LP, Dell Technologies, Tyco International Ltd., Palo Alto Networks, Juniper Networks Inc., Allegion plc, Nortek Inc., Check Point Software Technologies Ltd., Extreme Networks Inc., Bricata Inc., Hilstone Networks, Symantec Corporation, Huawei, Corero Network Security Inc., Secureworks Inc., Fortinet Inc., Darktrace, Trustwave Holdings, Tipping Point, AlertLogic, ExtraHop Networks, Cynet
Intrusion Deduction And Prevention System Market 2024 Key Insights:
• The intrusion deduction and prevention system market is expected to grow to $7.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Impact Of Increasing Cybersecurity Threats On The Intrusion Detection And Prevention System Market
• Innovative Advancements In The Intrusion Detection And Prevention System Market
• North America was the largest region in the intrusion deduction and prevention system market in 2023.
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