According to a new report published by MarkWide Research, titled, “Cloud IDS/IPS Market,” the global market for cloud Intrusion Detection System and Intrusion Prevention System (IDS/IPS) is projected to exceed $5.9 billion by 2030, displaying a robust CAGR of 7.1% during the forecast period from 2023 to 2030.
Cloud IDS/IPS solutions are crucial for safeguarding cloud-based applications and data against cyber threats and unauthorized access. The market’s growth is driven by the increasing adoption of cloud services, the rise in cyberattacks, and the need for advanced threat detection and prevention.
Key findings from the report:
- Cloud Adoption: The rapid adoption of cloud services across industries fuels the demand for cloud IDS/IPS solutions.
- Cybersecurity Threats: The escalating frequency and sophistication of cyberattacks necessitate robust intrusion detection and prevention measures.
- Compliance and Regulations: Stringent data protection regulations and compliance requirements drive the implementation of IDS/IPS solutions.
- Machine Learning and AI: Integration of machine learning and artificial intelligence enhances threat detection accuracy.
- Global Remote Workforce: The growth of remote work amplifies the importance of securing cloud environments.
- Market Competitors: Leading players in the cloud IDS/IPS market include Cisco Systems, Palo Alto Networks, and Fortinet Inc., who continually innovate to address evolving cybersecurity challenges.
The report anticipates significant growth in the global cloud IDS/IPS market as organizations prioritize cloud security to protect their digital assets. MarkWide Research’s comprehensive analysis provides insights into the market’s current landscape and future trends, empowering industry stakeholders to make informed decisions and capitalize on opportunities in the cloud IDS/IPS market.
MarkWide Research is a leading market research and consulting firm, providing in-depth analysis and strategic insights across various industries. With a team of experienced analysts, MarkWide Research is committed to delivering actionable intelligence, assisting clients in making informed business decisions and achieving sustainable growth.