The global Intrusion Detection and Prevention Systems (IDPS) market size is projected to grow from USD 4.7 billion in 2019 to USD 7.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 8.3% from 2019 to 2024.
An increasing number of security breaches and cyberattacks and mandate to follow regulatory and data protection laws have contributed to the growth of the IDPS ecosystem.
By deployment, the cloud segment hold a larger market size in 2019
Organizations are migrating their infrastructure to cloud due to its lower cost and features, such as agility, scalability, speed, and cost-efficiency. In the cloud deployment mode, a service provider hosts the entire infrastructure and its capabilities, which are provided to organizations on a need-basis and can scale up when required.
As the cloud system provides users with the ability to execute tasks anywhere, it makes the system more vulnerable to cyberattacks, and the malware can be spread in these environments more quickly.
However, cloud solutions make detection faster by scanning all the endpoints and servers that are connected in the system. Organizations suffer from staff shortage when it comes to maintaining security operations.
Cloud platforms come with other additional services, such as support and consulting which are provided by security vendors, Managed Security Service Providers (MSSPs), and other vendors offering IDPS platform or solutions.
APAC to register the highest growth rate during the forecast period
Asia Pacific (APAC) comprises of emerging economies, such as India, China, Australia, and Japan, with developed security infrastructure.Machine Learning (ML), Internet of Things (IoT), big data analytics, and Artificial Intelligence (AI) are emerging methodologies that are being deployed in this region.
APAC is home to large number of established Small and Medium-sized Enterprises (SMEs), which are growing at laudable pace to cater to their large customer base. Despite the growing importance of SMEs in this region, they are most affected mostly by cyber and malware attacks owing to budgetary constraints and resource shortages.
According to FireEye, organizations in APAC take almost 3 times as long as the Rest of the World (RoW) to realize that a malware has successfully broken into their network mainly because of the dependency on external third-parties.
According to a report by Malwarebytes in January 2019, APAC remains a prime target for cyberattacks, with Australia, Indonesia, Malaysia, Thailand, and the Philippines among the top 10 countries with most business malware detections globally.
• By Company Type: Tier 1 – 55%, Tier 2 – 27%, and Tier 3 – 18%
• By Designation: C-level – 33%, D-level – 25%, and Others – 42%
• By Region: North America – 38%, Europe – 14%, APAC – 19%, RoW – 29%
The market study covers the IDPS market size across different segments. It aims at estimating the market size and the growth potential across different segments, including components, type, organization size, deployment mode, vertical, and region.
The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Read the full report: https://www.reportlinker.com/p05835372/?utm_source=PRN
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