Cloud Intrusion Protection Software Market Size (2024 - 2029)

Cloud Intrusion Protection Software Market Analysis

The Cloud Intrusion Protection Software Market size is estimated at USD 1.45 billion in 2024, and is expected to reach USD 5.66 billion by 2029, growing at a CAGR of 29.87% during the forecast period (2024-2029).

• The use of cloud services is growing rapidly in a broad range of areas as more companies are beginning to implement cloud services. Software vulnerabilities have become a serious problem, and several organizations struggle to patch their environments when new software updates are released to block emerging threats.
• Cloud IPS solutions protect cloud-based and on-premises applications by blocking traffic that attempts to exploit known vulnerabilities, including those contained in the CVE database. This reduces the burden of manually patching enterprise servers, user systems, or cloud applications, as Cloud IPS protects against new vulnerabilities without requiring manual intervention by security or IT teams.
• According to IC3, Phishing attacks have significantly increased in recent years. In 2022, more than 300,000 people fell victim to such attacks. Phishing attacks come in many forms. The most common types are bulk phishing, smishing, and business email compromise (BEC). In 2022, 85% of global organizations surveyed stated that they had experienced a major phishing attack, and almost three in four said they were affected by a smishing scam.
• The increasing number of cyber threats and hacking attempts drive 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 increased IT spending on network security. Intrusion detection and prevention have been the most important hacks for IT companies to protect themselves from targeted attacks.
• Saving a company from hackers has become a major effort by IT companies these days. However, network performance loss owing to several checks and false positives and false negative detections by this software can lead to a loss of market demand.

Cloud Intrusion Protection Software Industry Segmentation

An intrusion detection system (IDS) helps to identify malicious activities over the network, and intrusion prevention systems (IPS) to prevent data modification or unauthorized access have been developed. IDS and IPS include hardware, software, and services. IDS is a passive monitoring system that warns the system administrator of any suspicious activity. At the same time, IPS enables the administrator to take appropriate action upon the alert generated by the IDS. Here, the scope is limited to services across various industry verticals and geography.

The cloud intrusion protection software market is segmented by service (consulting, managed services, design and integration, and training and education), industry vertical (telecom and information technology, banking and financial service, oil and gas, manufacturing, healthcare, government, travel and transport, retail, entertainment and media, and other end-user verticals), and Geography (North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa).

The market sizes and forecasts are provided in terms of value in USD for all the above segments.