Global Intrusion Detection And Prevention Systems (IDPS) Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Intrusion Detection And Prevention Systems (IDPS) Market is estimated to be USD 6.68 Bn in 2023 and is expected to reach USD 10.86 Bn by 2028 growing at a CAGR of 10.22%.

• Key factor such as the increasing number of intrusions, changing cyber landscape, and growing need for compliance with various upcoming regulations has been a major driver for the Intrusion Detection And Prevention Systems (IDPS) market. Alongside, the rising number of cyberattacks due to increasing digitalization and the mandate to follow regulatory and data protection laws has aided the growth of the market. The growing acceptance of cutting-edge intrusion detection technologies in IT companies is also driving the market for intrusion detection and prevention system.
• Conversely, factors such as the huge capital requirement for Cybersecurity, which is a challenge for SMEs are likely to restrain market growth. Lack of absolute security which increases the cases of smuggling, is one of the restraining factors for intrusion detection and prevention system. With the increasing use of BYOD and CYOD trends, enterprises not only need to secure devices that are within office premises but also secure those with remote access to the corporate network. This factor has significantly increased the implementation of IDPS solutions, driving the growth of the IDPs market.

Market Dynamics

Drivers

• Growing Sophistication of Cybercrimes and New Cyberattacks
• The mandate to Follow Data Protection Laws and Regulations

Restraints

• Availability of Open-Source and Substitute Solutions
• Limited Security Budget among Small and Medium-Sized Enterprises

Opportunities

• Growing Market for Cloud-Based Businesses
• Rapid Growth in BYOD and CYOD Trends

Challenges

• Lack of Skilled Security Professionals

Trends:

• Unified Threat Management (UTM)

Segments Covered

• By Component, the Solutions segment is estimated to hold the highest market share. The solution covers software and hardware components that can be easily installed on the network and provide intrusion detection and prevention capabilities. Enterprises who are always under constant threat from new-age sophisticated cyberattacks often prefer to adopt Intrusion & prevention system solutions. Hence, there is significant growth in the solution segment.
• By Type, the Network-based IDPS segment is estimated to hold the highest market share. The rise in adoption of Network-based IDPS is because Network-based sensors have a quicker response than host-based sensors, and they are easier to implement. Also, benefits offered by Network-based IDPS such as no need to alter the existing infrastructure and monitoring capability on a network segment, regardless of the target host's operating system, is adding to the growth of segmental growth.
• By Deployment, the market can be classified as cloud and on-premises. Amongst all, the Cloud segment is estimated to hold the highest market share during the forecast period. Cloud-based IDPS allows business enterprises to migrate their infrastructure to the cloud due to its lower cost and features, such as agility, scalability, speed, and cost-efficiency. Also, cloud solutions make intrusion detection faster by scanning all the endpoints and servers connected to the system. These advantages make cloud solutions lead the IDPS market.
• By Organization Size, Large Enterprises are estimated to hold the highest market share as they utilize advanced technological products and services for increasing overall productivity and efficiency. Large enterprises are widely opting for cloud IDPS solutions to reduce CAPEX and OPEX of infrastructure. Most of the large enterprises have already adopted cloud security solutions. They use many cloud and Internet of Things (IoT)-based applications that may be susceptible to cyberattacks. They face threats from targeted attacks, which can disrupt their Information Technology (IT) services. Hence, these organizations adopt cloud IDPS solutions to provide sufficient security.
• By Vertical, the Banking, Financial Services, and Insurance (BFSI) segment is estimated to hold the highest market share during the forecast period. The segment contains a high amount of data-sensitive information, making it a target for cyber attackers. Therefore, this segment has been endorsing IDPS for the prevention of malicious attacks targeting internet banking transactions.
• By Geography, North America is projected to lead the market for cloud security solutions. The factors attributed to the growth of the market are the increasing use of IoT and cloud-based devices in this region. High-security awareness and increasing government spending on data safety & security are fuelling the growth of the IDPS market in this region. Asia Pacific region is also anticipated to witness a high growth rate during the forecast period due to increasing investment in infrastructure and development of data centers by major IT companies in this region.
• The Global Intrusion Detection and Prevention Systems (IDPS) Market is segmented further based on Component, Type, Deployment, Organization Size, Vertical, And Geography.

Global Intrusion Detection and Prevention Systems (IDPS) Market, By Component

• Introduction
• Solutions
• o Hardware
• o Software
• Services
• o Planning and Integration
• o Support and Maintenance

Global Intrusion Detection and Prevention Systems (IDPS) Market, By Type

• Introduction
• Network-Based
• Wireless-Based
• Network Behavior Analysis
• Host-Based

Global Intrusion Detection and Prevention Systems (IDPS) Market, By Deployment

• Introduction
• Cloud
• On-premises

Global Intrusion Detection and Prevention Systems (IDPS) Market, By Organization Size

• Introduction
• Small and Medium-sized Enterprises
• Large enterprises

Global Intrusion Detection and Prevention Systems (IDPS) Market, By Industry vertical

• Introduction
• Banking, Financial Services, and Insurance
• Government and Defense
• Healthcare
• IT & Telecom
• Retail and Ecommerce
• Manufacturing
• Others

Global Intrusion Detection and Prevention Systems (IDPS) Market, By Geography

• Introduction
• North America
• South America
• Europe
• Asia Pacific
• Rest of the World

Company Profiles

Some of the companies covered in this report are IBM Corporation, Cisco Systems, Inc., FireEye, Darktrace, Fortinet, Vectra AI, BluVector Inc., Secureworks, Huawei Technologies, Alert Logic, At&T Cybersecurity, etc.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Intrusion Detection and Prevention Systems (IDPS) Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market