Intrusion Detection and Prevention Systems Market Growing at a CAGR 8.3% | Key Player Cisco, IBM, Trend Micro, FireEye, Fortinet

May 25 11:18 2020
Intrusion Detection and Prevention Systems Market Growing at a CAGR 8.3% | Key Player Cisco, IBM, Trend Micro, FireEye, Fortinet

Cisco Systems (US), IBM (US), McAfee (US), Trend Micro (Japan), Palo Alto Networks (US), AT&T (US), Darktrace (US and UK), FireEye (US), AlertLogic (US), Fortinet (US), WatchGuard (US), Vectra (US), NSFOCUS (US), Armor Cloud Security (US), Bluvector (US), Extrahop Networks (US), Hilstone Networks (US), Secureworks (US), Huawei (China), and Bricata (US)
Intrusion Detection and Prevention Systems Market by Component (Solutions and Services), Type, Deployment Type (Cloud and On-Premises), Organization Size (SMEs and Large Enterprises), Vertical, and Region – Global Forecast to 2024

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% during the forecast period. The major factors driving the market include the increasing number of security breaches and cyberattacks.

By organization size, the large enterprise segment to lead the market in 2019

Large enterprises are organizations that have more than 1,000 employees. These organizations invest heavily in advanced technologies for increasing overall productivity and efficiency. To reduce CAPEX and OPEX of infrastructure, large enterprises are widely opting cloud IDPS solutions. Large enterprises are expected to invest significantly in implementing advanced cloud IDPS solutions that are capable of anomaly-based detection to provide optimum security to their enterprises’ intense competitive environment.

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Large enterprises have adopted cloud security solutions, as they use a large number of cloud and Internet of Things (IoT)-based applications susceptible to cyberattacks. Moreover, as they face threats from targeted attacks to disrupt their Information Technology (IT) services, these organizations adopt cloud IDPS solutions to provide effective security.

The vendors covered in the IDPS market report include Cisco Systems, Inc. (US), International Business Machines Corporation (US) , McAfee LLC (US), Trend Micro Inc. (Japan), Palo Alto Networks, Inc. (US), AT&T Cybersecurity (US), Darktrace (US & UK), FireEye, Inc. (US), Alert Logic, Inc. (US), Fortinet, Inc. (US), WatchGuard Technologies, Inc. (US), Vectra AI, Inc. (US), NSFOCUS (US), Armor Defense Inc. (US), BluVector, Inc. (US),  ExtraHop Networks (US), Hillstone Networks (US), Secureworks Inc. (US), Huawei Technologies Co. (China), Bricata, Inc. (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the IDPS market.

Cisco Systems (US), an American multinational company, was founded in 1984 and is headquartered in California, US. The global company specializes in providing Internet Protocol (IP)-based products and services, which specifically cater to the Information and Communication Technology (ICT) industry. It offers a plethora of products and services in networking, Internet of Things (IoT), mobility and wireless, security, collaboration, data center, and the cloud. Its extensive product offerings include Next-Generation Network (NGN) routing, service provider video, switching, wireless, and data center security. Cisco Systems is among the top network security companies due to its constant investment in Research and Development (R&D), which enables innovations in the form of high-quality products and services. The company’s service offerings include advisory, implementation, training, managed, and technical services. Cisco Systems has established its dominance in the global IDPS market by creating personal distribution channels, employing an aggressive sales force, and strategically collaborating with different channel partners. It caters to diverse business houses, such as large enterprises, commercial businesses, service providers, and consumers. The company strives continuously to establish itself as an eminent player in the cybersecurity domain and is present across the globe, including North America, Europe, Middle East and Africa (EMEA), APAC, and Latin America.

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IBM (US) was founded in 1911 and is headquartered in New York, US. The company is one of the providers in the IDPS market. It operates through 5 business segments, namely, technology services and cloud platform, cognitive solutions, Global Business Services (GBS), systems, and global financing. IBM has distinguished security–as-a-service offerings in the market, such as Security information and Event Management (SIEM)-as-a-service, Unified End Point Management, Application Security, Identity-as-a-Service (IaaS), Cloud-based Threat Intelligence, and Incident Response and Management.. It caters to verticals, such as Banking, Financial Services and Insurance (BFSI), healthcare, education, government, aerospace and defense, Information Technology (IT) and telecom, media and entertainment, energy and utilities, manufacturing, and retail. The company is present in more than 175 countries in regions of North America, Europe, APAC, MEA and Latin America.

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