In today’s modern times, when most of the business data is stored and shared on the virtual platforms, security and protection of these platforms and information becomes vital. Rising adoption of the information technology in business and product management has created the crucial issues of intrusive activities and malpractices. In such cases, intrusion detection systems monitor suspicious and malicious activities in terms of policy violations and product management. Technologically sound, these detection systems help the companies in securing their products and data in numerous ways. The global intrusion detection system market is expected to gain positive momentum with rising demand growing security concerns.
Segmentation in IDS Market
In order to understand the basic industry trends, one needs to analyze various components of the industry. Hence, the experts segment the global market into different segments, which include the product types, components, deployment models, industry verticals, and geographic regions. On the basis of the types of products, the global intrusion detection system market is divided into three segments, which include host-based, network-based and wireless IDS services.
Based on the components, the market is segmented into hardware, software, consulting, services, design and integration, training and education, managed services and such other components. Basic deployment models for the industry include cloud and on-premise deployment. Industrial verticals include BFSI, aerospace and defense, intelligence, IT and telecom, healthcare and life sciences, and government and public utilities. Geographic regions include NA, APAC, EU, LA and MEA.
Driving Factors for IDS Market
The growth of the intrusion detection system market is based on various strong driving forces. Continuous sophistication of the advanced security threats, nature of cyber attacks, growth in the number of hacking attempts and changing security compliance and regulatory guidelines are some of the major driving factors for the global market. Along with all these factors, the IDS market is gaining solid traction with the evolving technology in terms of the existing services and solutions. Rapid upgrades in the available services and growing adoption from different industrial verticals are expected to be some of the major drivers for the global market.
According to the latest market research reports, the global intrusion detection system market is set to grow at a projected CAGR of over 13% to reach past $5.04 billion in 2019. As of the year 2014, the market was worth $2.71 billion. This growth is strongly triggered by the rising rate of adoption and technologies advancements across the industry. Growth in globalization and addition of information technology for data storage and sharing are adding up to the demand for these services. During the forecasting period, North America is expected to dominate the global market, which will also gain positive traction from the emerging markets of Asia Pacific, Latin America and Middle East and Africa.