What’s driving the IDS / IPS Market Trends? | Key Players are BAE Systems, Cisco, Dell, HP, IBM, Juniper Networks, Sophos, Symantec, Trend Micro, Palo Alto Networks, Huawei Technologies, McAfee

IDS / IPS Market in BFSI sector is set to witness strong growth in the coming years. The BFSI industry deals with huge bulk of financial data facilitating insurance, transactions and related financial services to its customers. These financial institutions are prone to huge cyber crimes and physical risks, thereby demanding enhanced security solutions for the industry. The rising adoption of advanced technology, electronic platform, internet, cloud, and mobile banking have created an increased susceptibility to cyber threats to the critical data of the banking customers. This has enhanced the requirement for implementing next generation IDS / IPS solutions in the banking sector.

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The wireless network systems are widely used across various industry verticals due to the advantages they offer such as ease of installation and maintenance in the IDS / IPS market. However, these systems impose a great security risk to Wireless Local Area Networks (WLANs) causing potentially devastating consequences. Security issues ranging from session hijacking, misconfigured Wireless Access Points (WAP) to Denial of Service (DoS) can affect a WLAN; hence, organizations have adopted wireless-based IDS/IPS solutions to detect and fight against potential threats.

The managed service accounts for the largest share in the global IDS / IPS market and is projected to remain dominant over the forecast timespan. The adoption of managed service is on a rise mainly due to the increased sophistication and skill of network attacks, rising number of possibilities to access a network and the growing complexity of defending against threats and intrusion. The managed service providers offer a virtual team to investigate alerts, report security threats, and offer the remediation guidance improving the customers’ ability to respond to unauthorized access or potential intrusions effectively and swiftly driving its market adoption rate.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. BAE Systems
2. Cisco
3. Dell
4. HP
5. IBM
6. Juniper Networks
7. Sophos
8. Symantec
9. Trend Micro
10. Palo Alto Networks
11. Huawei Technologies
12. McAfee
13. Check Point Software Technologies, Ltd.

Chapter 3. IDS/IPS Market Industry Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2013-2024

3.4. IDS/IPS ecosystem analysis

3.4.1. IDS/IPS solution providers

3.4.2. IDS/IPS service providers

3.4.3. System integrators

3.4.4. Value-Added Resellers (VARs) and distributors

3.4.5. End users

3.5. IDS/IPS evolution

3.6. Cybersecurity statistics

3.7. Technology & innovation landscape

3.7.1. Blockchain technology

3.7.2. Cloud computing

3.8. Regulatory landscape

3.8.1. General Data Protection Regulation (GDPR)

3.8.2. Health Insurance Portability and Accountability Act (HIPAA)

3.8.3. Federal Information Security Management Act (FISMA)

3.8.4. Directive on Security of Network and Information Systems (NIS Directive) (EU)

3.8.5. The National Institute of Standards and Technology (NIST), U.S.

3.8.6. Gramm-Leach-Bliley Act (GLBA)

3.9. Industry impact forces

3.9.1. Growth drivers

3.9.1.1. Growing incidents of cyberattacks and threats

3.9.1.2. Rising investment on IT security solutions

3.9.1.3. Increasing trend of BYOD devices

3.9.1.4. Growing awareness among consumers regarding cybersecurity

3.9.1.5. Increasing consumer demand for IDS/IPS

3.9.2. Industry Pitfalls and Challenges

3.9.2.1. Lack of understanding about IDS/IPS

3.9.2.2. Limited security budgets among SMEs

3.10. Porter’s Analysis

3.10.1. Threat of new entrants

3.10.2. Threat of substitutes

3.10.3. Bargaining power of buyer

3.10.4. Bargaining power of supplier

3.10.5. Industry rivalry

3.11. PESTEL analysis

3.12. Growth potential analysis

The healthcare sector is projected to grow at a fast pace in the IDS / IPS market over the forecast period. The healthcare department carries full responsibility of vulnerable patients, critical patient data, expensive equipment, and controlled pharmaceutical substances. With technological advancements the healthcare sector has adopted various practices such as internet-based consulting with distant patients, multi-cloud SaaS & IaaS environment, and connected medical devices, expanding the attack surface. Hence, healthcare organizations are rapidly adopting IDS/IPS solutions to fight against cybercrimes and protect the integrity of patients, augmenting the IDS/IPS market growth.

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Asia Pacific is anticipated to grow at the CAGR of over 17% in the IDS / IPS market. The rising disposable income, rapid economic development, high burglary rate, and growing government regulations for enhancing security are the key factors driving the market demand. The increasing investments in securing IT infrastructure and adoption of scalable and cost-effective cloud-based solutions also have a positive impact on the market. The growing economies including India, China,and South Korea also provide enhanced growth opportunities for the IDS/IPS market in this region.

The Europe IDS / IPS market is projected to grow at a fast rate with a CAGR of over 12% during the forecast timeframe. The market in this region is anticipated to grow at a fast pace due to a rise in the number of public-private partnerships and government investments to deploy the IDS / IPS in various points of network system. For instance, the European Union Commission has launched a public-private partnership on cybersecurity that is expected to trigger USD 2 billion of investment by 2020.

IDS / IPS market is projected to exceed USD 8 billion by 2025. Factors such as the rising importance of digitalization, transformation of the technological landscape, the rising threat of data breaches, and the enormous growth of computer networks are driving the market demand. The IDS/IPS makes it easier for network administrators to assess where the threats are coming from, addressing and preventing any further attacks from those locations and accelerating the demand for IDS/IPS systems.

The key vendors operational in the IDS / IPS market are BAE Systems,Barracuda,Check Point Software Technologies, Ltd.,Cisco,Corero Network Security,Dell,Extreme Networks,Hillstone Networks,HP ,Huawei Technologies,IBM,Imperva,Juniper Networks,McAfee,New H3C Group,NSFOCUS,Palo Alto Networks,Sophos,Symantec,Trend Micro

Browse key industry insights spread across 260 pages with 348 market data tables & 31 figures & charts from the report, IDS / IPS Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/intrusion-detection-prevention-system-ids-ips-market

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