Intrusion Detection & Protection System Market: BFSI Industry to Generate Significant Revenues
Published : 21 Dec 2017 Industry: Technology
Growing need for securing confidential information in various organizations has led to surge in demand for the intrusion detection and protection system globally. In addition, surge in demand for protection against malicious attacks is projected to impact the global market growth of intrusion detection and protection system positively. Fact.MR states that the global market of intrusion detection & protection system is projected to reflect a CAGR of 12.3% over the forecast period, 2017-2026.
Factors Fuelling Global Market Growth
Growth of the global intrusion detection & protection system market is mainly bound by various macro-economic and micro-economic factors. As the need for sharing and receiving imperative information through various networks continues to increase, organizations are looking to adopt leading technological solutions to maintain safety of the shared information. Lack of robust security of the networks allows the hackers to intrude into the networks and gain access to the sensitive and confidential information of the organizations. Moreover, increasing instances of malware attacks through the unprotected network system has led to significant data losses for various organizations. As data theft and intrusion through networks continue to persist, organizations are increasingly focusing on adopting intrusion detection and protection solutions in their network systems.
In addition, unprotected networks of various financial institutions could lead to significant data losses. Loss of confidential and sensitive data of the financial organization could hinder the progress of the firms and the customers loyal to the services offered by these financial institutions. Intrusion and loss of sensitive information regarding the firm and clients of the firm can hinder growth of various financial institutions significantly. In order to prevent intrusion and loss of sensitive information, the financial organizations are increasingly opting for signature-free intrusion detection and protection system. Adoption of innovative intrusion detection and protection solutions and as signature-free services monitors the network well and quickly identifies the malicious attacks and possibility of intrusions through access of various applications. This enables the organizations to maintain the integrity of their information and protect their database from malicious attacks and possibilities of intrusions. Bound to such factors, the global market of intrusion detection & protection system is projected to witness a significant growth during the forecast period.
Demand for robust intrusion detection and protection solutions continue to remain high in various government organizations and large business organizations. Surge in demand for innovative intrusion detection and protection solutions is projected to contribute towards the global market growth of intrusion detection & protection system significantly during the forecast period.
Sales to Remain High in BFSI Industry
As the need for securing sensitive information continues to arise, demand for intrusion detection and protection solutions is projected to remain high in the large business organizations. In terms of revenue, the large enterprise deployment type segment is projected to represent the highest growth, recording more than US$ 2,000 Mn by 2026-end. On the other hand, the SaaS deployment type segment is projected to reflect a healthy CAGR throughout the forecast period.
By 2017-end, the network based IDS system application segment is projected to represent a significant revenue growth, accounting for more than US$ 1,900 Mn. During the forecast period, this segment is projected to reflect the fastest growth in the global market of intrusion detection & protection system. Based on industry, the BFSI segment is projected to reflect a robust CAGR during the forecast period. Moreover, the BFSI industry segment is projected to generate significant revenues, accounting for more than US$ 890 Mn by 2026-end.
Major players in the global market of intrusion detection & protection system are Cisco Systems, IBM, McAfee, Symantec Corporation, Trend Micro, CheckPoint Security Software Market, TippingPoint, Juniper Networks, Inc, Trustwave and SourceFire.