Intrusion Detection and Prevention Systems Market Size, Share, Growth, and Industry Analysis, By Type (Hardware, Software), By Application (BFSI, Government, IT & Telecom, Healthcare, Others), Regional Insights, and Forecast From 2024 To 2031

Intrusion Detection and Prevention Systems Market Report Overview

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The global intrusion detection and prevention systems market size was USD 5322.4 million in 2022 and is expected to reach USD 8060.74 million by 2031, exhibiting a CAGR of 4.7% during the forecast period.

Monitoring network activity for potential mishaps, violations, or impending cyber threats to an organization's security policy is done using intrusion detection and prevention systems. The process of detecting intrusions and then putting a halt to those instances is known as intrusion prevention. Both intrusion detection systems (IDS) and (IPS) intrusion prevention devices are developed as a component of a computer network to halt and identify potential occurrences, are accessible as these security measures.

Some networks also employ intrusion detection and prevention systemsto both detect security policy issues and stop users from violating security policies. Intrusion detection and prevention systems have grown to be a significant addition to most administrations' safety structures.

COVID-19 Impact: Isolation Limitations to Deplete Market Advancement

The COVID-19 pandemic has been unprecedented and staggering, intrusion detection and prevention systems experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The disease expanded to almost 180+ nations worldwide since the COVID-19 viral pandemic in December 2019, prompting the WHO to declare it an emergency in public health. In 2020, the intrusion detection and prevention systems market growth was greatly impacted by the disease's global effects, which already started to be seen.

Peoplestayedat home even when governments have instituted lockdowns to stop the virus's spread. Digital commerce, entertainment, gaming, and educational apps are just a few of the applications that have experienced an increase in shutdown. Increased use of these apps is anticipated to fuel the market expansion.

Overall, the current situation is anticipated to benefit agile testing and accelerate market expansion.

LATEST TRENDS

"Application in Various Industries to Stimulate Market Development "

The worldwide intrusion detection and prevention systems market growth has been growing quickly and registering a sizable CAGR. Due to the concern over compromising official data and exposing any information, intrusion detection systems are becoming progressively more in demand across a variety of industries, including telecom, BFSI, and defense. As the system monitors and finds dangers to the computer's infrastructure during the projected time, use of the machine is increasing. It has two different types of detection systems, including host-based and network-based intrusion detection systems.

Intrusion Detection and Prevention Systems Market Segmentation

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• By Type

Based on type; the market is divided into hardware, software

Hardware is the leading part of the type segment.

• By Application

Based on the application; the market is divided into BFSI, government, IT & telecom, healthcare, others

BFSI is the leading part of the application segment.

DRIVING FACTORS

"Evolution of BYOD to Aid Market Expansion "

Additionally, as technology connected to "bring your own device" (BYOD) evolves, businesses are mobilizing their staff. Due to the popularity of the BYOD model, businesses are registering for security services to protect electronic devices including smartphones, desktop computers, tablets, and laptops against cyberattacks. Due to the increased use of BYOD, industries now need to protect devices that have distant access to the company's network along with those that are secret. This characteristic is expected to considerably increase the adoption of detection solutions, leading to an increasepenetration of the market.

"Solution Category""to Foster Industry Progress"

Solutions and services are included in the market segmentation for intrusion detection systems based on components. The market was led by the solution category, which generated the most revenue. Intrusion detection systems are a solution offered by cyber security companies. Recent, highly technical cyberattacks pose an immediate threat to industries. Even while industries use a variety of security technologies, each with the specific purpose of defending the firm from illicit traffic entering the network, sophisticated viruses and viruses are popular in breaching business networks.

The fastest-growing industry in the projected time is expected to be the service sector. There are three components in the intrusion detection and prevention systemsmarket: hardware, software, and services. On the network, the hardware and software components that provide intrusion detection and prediction capabilities can be implemented. Due to the above-mentioned factors the market will proliferate at a high pace during the forecasted timeframe.

RESTRAINING FACTORS

"Lack of Qualified Security Personnel to Hinder Market Advancement "

Cyber threats are expanding at a faster rate than ever before, and businesses all over the world are being pressured to find brilliant professionals who can help them mitigate these risks. Organizations struggle to satisfy their changing IT security requirements because there aren't enough qualified security specialists available. Therefore, the global market's ability to grow is constrained by a lack of qualified security personnel.

Intrusion Detection and Prevention Systems Market Regional Insights

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"Widespread Adoption of Linked Technologies in North America to Support Market Advancement "

North America retained the leading position in the worldwide intrusion detection and prevention systems market share. Some of the key drivers of regional growth include the widespread adoption of linked technologies including the Internet of Things (IoT), bring your own device (BYOD), cloud computing, and mobile applications. Leading significant players including Cisco Systems, IBM, and Juniper Networks, among others, are helping the market grow. The adoption of cutting-edge technologies to improve the security characteristics of the companies has led to expectations that the U.S. will lead the North American systems market.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. Themarket report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market areexpected to benefit from substantial growth opportunities in the near future.

LIST OF TOP INTRUSION DETECTION AND PREVENTION SYSTEMS COMPANIES

• Cisco (U.S.)
• McAfee (U.S.)
• IBM (U.S.)
• HPE (U.S.)
• Check Point (Israel)
• Juniper (U.S.)
• SonicWALL (U.S.)
• Symantec (U.S.)
• Corero Network Security (U.S.)
• Extreme Networks (U.S.)
• NSFOCUS (China)
• Radware (Israel)
• Fortinet (U.S.)
• Palo Alto Networks (U.S.)
• Trend Micro (Japan)
• FireEye (U.S.)
• BAE Systems (U.K.)
• Kaspersky (Russia)
• Barracuda (U.S.)
• Sophos (U.K.)
• Venustech (China)
• Topsec (China)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolutiontrend, opportunities in themarket, important market drivers, and SWOTopportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.