Jan 25, 2021 (The Expresswire) -- Global Cloud Intrusion Protection Software Market research report provides a Point-by-Point In-Depth analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
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Cloud Intrusion Protection Software Market competition is assessed by top manufacturers, with production, price, revenue (value), and market share for each manufacturer. It offers a complete evaluation of every area including the volume of the global Cloud Intrusion Protection Software market in that area in the estimated duration. This well-drafted report entails the existing market status, historical data, and projection outlook. A detailed segmentation analysis of the market is done on regions, types, and applications in the report. The report tracks primary trends that decide future growth prospects in the global market.
Cloud Intrusion Protection Software Market Report Overview includes major players of the global Cloud Intrusion Protection Software Market covered in the research study, research scope, Market segments by type, Market segments by application, years considered for the research study, and objectives of the report.The research report explores the Cloud Intrusion Protection Software market across the globe shows industry summary, definition, and scope along with major regions and countries. The research report provides a detailed study on each and every aspect of Cloud Intrusion Protection Software Market. Furthermore, the research study classifies the market based on product types, application and end user industries of Cloud Intrusion Protection Software.
The global cloud intrusion protection software market was valued at USD 0.40 billion in 2017 and is expected to reach a value of USD 1.5 billion by 2023 at a CAGR of 24.65% over the forecast period of 2018 - 2023. The use of cloud services is growing rapidly in a broad range of areas as more companies are beginning to implement cloud services. The use of cloud-based solutions is growing at a rapid pace, and it is estimated that this growth will not slow down. Investments in cloud computing are increasing more rapidly as compared to investments in IT in general. Financial and banking services enterprises deploy firewalls, PKI, authentication and other security solutions to keep customers and confidential bank data safe since they are more prone to cyber-attacks as compared to other industry verticals, leading to this industry vertical becoming early adopter of this technology.
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. The complexity of cyber threats and hacking attempts are playing a major role in shaping the future of the intrusion detection and prevention systems security market.
Increased IT Spending on Network Security
Non-complex or weak network access is a common problem in recent times, with regard to network security. Since hackers are motivated by scoring political points and embarrassing companies, they always try to steal unstructured data such as email and other important documents. Loss of such important data might lead businesses to drop due to loss of reputation, which was the case in the Sony hack, due to bad publicity. Solutions, such as Captcha technology, have been giving network security administrators a false sense of security. In terms of strategic initiatives, nearly 59% of the organizations have planned to spend more on security as it stands to be the major concern among the network administrators when compared to cloud applications.
Telecom and Information Technology Expected to Grow Exponentially
Cloud intrusion protection systems are seeing 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 and power, government services, IT sector and other industries employing technology, has seen an 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 now 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.
North America is the Major Contributor to the Market
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, followed by Europe and Asia-Pacific. The United States is a major contributor to the North American market, on account of early adoption and major investments in 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.
Key Developments in the Market
November 2017: IBM acquired Vivant Digital Business to address the growing needs of clients seeking transformation through digital reinvention.
November 2017: Cisco and INTERPOL agreed to share threat intelligence as a first step in fighting cyber crimes jointly. This alliance is expected to witness two organizations develop a coordinated and focused approach towards sharing data.
The major players include - CISCO SYSTEMS, INC., IBM CORPORATION, FORTINET, INC., CHECK POINT SOFTWARE TECHNOLOGIES LTD, HP, INC., MCAFEE, INC., INTEL CORPORATION, DELL, INC., CORRERO GROUP, TRUSTWAVE CORPORATION, ALIENVAULT, INC., EXTREME NETWORKS, INC., JUNIPER NETWORKS INC., SYMANTEC CORPORATION, and STONESOFT LTD (FORCEPOINT), amongst others.
Reasons to Purchase the Report
Current and future cloud intrusion protection software market outlook in the developed and emerging markets.
Analyzing various perspectives of the market with the help of PorterÃ¢â¬â¢s Five Forces Analysis.
The segment that is expected to dominate the market.
Regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Cloud Intrusion Protection Software Market for 2021-2024. To calculate the market size, the report considers new installations or sales and subscription payments of Cloud Intrusion Protection Software.
The market is divided into the following segments based on geography:
Global Cloud Intrusion Protection Software Market 2021-2024, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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