Cloud-Based IDS IPS Market size is poised to cross revenue by the end of 2033, witnessing around CAGR of 25% during the forecast period, i.e., 2023-2033. Further, the market generated a notable revenue in the year 2022. The growth of the market is primarily attributed to the monitoring of network traffic, and globally increasing count of cyber-attacks. For instance, since the starting of the pandemic, there has been a 500% increase in cybercrime across the globe.
Cloud-based IDS IPS are procedures for increasing network security by scanning and reviewing packets for suspicious data and monitoring traffic. Intrusion detection system (IDS) is a framework keeps an eye on network traffic for any suspicious activity and assists in anomaly detection by notifying users of them. In addition to spotting vulnerability exploits, intrusion prevention systems (IPS) take it a step further and block potentially harmful network packets. The range of security measures for cloud computing services and resources is expanded by both IDS and IPS. In this way, IDS/IPS system contributes to the development of a strong multi-layered defense system within the cloud network. IDS configuration is frequently regarded as a subset of IPS configuration. IDS and IPS are also useful in mitigating various insider attacks, such as sophisticated DoS or DDoS attacks, when used in a cloud computing environment. Therefore, rise in cloud computing trend is fueling up the growth of the market over the forecast period. For instance, globally, by the end of 2022, more than 62% of all enterprise data is estimated to be stored in the cloud.
Increasing Cases of Ransomware – In a short span, ransomware has rapidly become the most noticeable and dominant type of malware. Ransomware is a type of malware that is meant to prevent a user or organization from accessing files on their computer. Cyber attackers place organizations in a position where paying the ransom is the quickest and cheapest way to reclaim access to their files. Recent ransomware attacks have caused extensive damage on a range of organizations. It was observed that there were nearly 235 million ransomware attacks globally in the first half of 2022.
Increasing Adoption of Robotic Process Automation (RPA) in Manufacturing Sector - By July 2022, it's expected that over 75% of businesses have already implemented RPA into their processes, and another 18% are intending to do so within the next three years.
Upsurge in Distributed Denial of Service (DDoS) Threat – Globally, network-layer DDoS attacks have increased in the second quarter of 2022 by 110% year over year. Quarter over quarter, attacks of 100 Gbps or more and attacks lasting longer than 3 hours both increased by 7% and 12%, respectively. Whereas, application-layer Cyberattacks surged by 73% year over year.
Upsurge in Adoption of Internet – As per the World Bank statistics, the number of internet users reached to 60% of the world’s population in 2020.
Worldwide Escalation in Zero Day Threats – It was observed that in third quarter of 2021, zero-day threat boosted to approximately 66%.
Our in-depth analysis of the global market includes the following segments:
The cloud-based IDS IPS market is segmented and analyzed for demand and supply by end-user into IT & telecom, BFSI, government & defense, education, retail, manufacturing, energy & utilities, healthcare, transportation, logistics, and others. Amongst these segments, the healthcare segment is anticipated to grow at a significant rate over the forecast period owing to the extensive use of cloud computing in healthcare sector, delivering cost-effective solutions for storing large amount of data, and by offering faster time-critical medical services. Additionally, cloud computing saves time while providing healthcare organizations with much-needed adaptability, expandability, and uplifting collaboration among healthcare researchers. For instance, many healthcare leaders are incorporating the advantages of cloud and software as a service (SaaS). Nearly 67% expected to move their technology infrastructures to the cloud by the end of 2022, with that figure expected to rise by 95% by 2024.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Regionally, the global cloud-based IDS IPS market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the massive upsurge in technological advancement, growing demand for constantly high internet connectivity in almost all business verticals, and huge AI deployment in various industrial sectors in the region. According to the data of Census Bureau through the Annual Survey of Manufactures, in 2018, the percentage of employees employed in organizations utilizing robots (such as transportation equipment, primary metal, plastics, and rubber products) surpassed 30%.
McAfee, LLC has launched McAfee+, its new product line featuring all new privacy and identity protections to ensure users live life online securely and confidently. The service is now available in the U.S. It includes personal data cleanup, licensed restoration experts, USD 1 million coverage for identity theft and stolen funds, and Chrome OS security.
Alert Logic, Inc. declared its integration with AWS Network Firewall to deliver a comprehensive web application threat detection solution to AWS users throughout a curated set of Alert Logic signatures covering thousands of web application exploits.
Author Credits: Abhishek Verma, Hetal Singh