The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The cloud intrusion protection software market was valued at USD 0.65 billion in 2019?and is expected to reach a value of USD 2.99 billion by 2025, at a CAGR of 29.87% over the forecast period, 2020–2025. The use of cloud services is growing rapidly in a broad range of areas as more companies are beginning to implement cloud services.
- Operation Ghoul, a campaign held by a group of hackers, uses a commercial spyware kit to retrieve valuable business-related data stored in the victim’s network. The group has successfully attacked almost 130 organizations from around 30 countries around the world.
- In September 2018, hackers gained access to over 30 million user’s record on Facebook. Rather than going for payment information or passwords, cybercriminals stole personal data such as names, relationship status, religion, birthdate, employers, search activity and check-in locations.
- The increasing number of cyber threats and hacking attempts are driving companies and individual users to use cloud intrusion protection software. In addition, considering the increasing number of intrusion incidents in business networks, there has been an increased IT spending on network security. Intrusion detection and prevention have been the most important hack for IT companies to protect themselves from targeted attacks.
Scope of the Report
The growing number of cyber attacks have pushed enterprises to increase their spending on IT infrastructure to prevent data theft and data breaches. An intrusion detection system (IDS) identify malicious activities over the network and intrusion prevention systems (IPS) prevent data modification or unauthorized access. IDS and IPS include hardware, software, and services. IDS is a passive monitoring system that warns the system administrator of any suspicious activity, while IPS enables the administrator to take appropriate action upon the alert generated by the IDS. Here, the scope is limited to services across various industry verticals and geography.
Key Market Trends
Telecom and Information Technology Expected to Grow Exponentially
- Cloud intrusion protection systems are growing adoption in the telecom industry, which serves every other industry in the market.
- With advancements in technology and increasing adoption of modern connectivity systems, the demand for communication services in industries, such as automotive, retail, energy & power, government services, IT sector and other industries employing technology, has seen incremental growth over the past decade.
- The telecom industry now serves a critical link for every industry to operate without interruptions. With the advent of cloud services, the dependence on communication is growing. The telecom and IT industries have merged to provide better operations.
- The IT industry nowadays plays a major role. With industries moving toward cloud and automation, they are increasingly deploying IT systems to support operations and telecom industries to provide connectivity and communication services, to facilitate the working of the whole system.
- As Telecom & IT holds a major stake in cyber connectivity, the spending on cybersecurity of Telecom & IT industry would be high as compared to other industry. Moreover, with rapid growth in technology in terms of IoT,5G & AI it is very much essential to protect the data and prevent the data breaches across the network.
North America is the Major Contributor to the Market Growth
- The North American market has been the market of focus for cloud IPS software companies. The North American market is the highest contributor to cloud IPS software
- The United States is a major contributor to the North American market, on account of early adoption and major investments in a cloud environment.
- There are several reasons for the high contribution from this region, such as the presence of large enterprises, the growing frequency of cyber-attacks, and the increasing number of hosted servers.
- Cloud services are in high demand and are experiencing high adoption with the rise in demand for IoT systems.
- The government in North American countries have tightened the norms to provide better cloud security.
The cloud intrusion protection software market is highly fragmented due to the increasing number of cyber attacks are bringing many companies with protection software that makes the market attractive. Moreover, companies are upgrading their existing product portfolio to retain their market share with many new players coming and exploring the market, launching products that are apt to market. Some of the key players in the market are Cisco Systems Inc., IBM Corporation, Fortinet Inc., Check Point Software Technologies Ltd., Symantec Corporation.
- April 2019 - Fortinet expands its security fabric to advance the third generation of cybersecurity making it security driven network.
- March 2019- Rockwell Automation, Panduit and Cisco, with a special collaboration with Tecnologico de Monterrey, EY and Unified announced the opening of their Manufacturing Advanced Technology Center (MATC) in Mexico City. The MATC shows how companies in the automotive, mining, food & beverage and cementing industries can embrace the future by establishing their digital journey for transformation and navigating the new Industry 4.0 era.
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