Cloud Intrusion Protection Software Market by Service (Consulting, Managed Services, Design & Integration, Training & Education), Industry Vertical (Telecom & Information Technology, Banking & Financial Service, Oil & Gas, Manufacturing, Healthcare, Government, Travel & Transport, Retail, and Entertainment & Media), and Geography (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The cloud intrusion protection software market size is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increased vulnerabilities in cloud computing settings.

An intrusion prevention system (IPS) is a security and threat-protection solution for networks. It is designed to take a proactive approach to network security, allowing potential threats to be recognized and dealt with quickly. In order to detect malicious software and prevent vulnerability exploitation, intrusion prevention systems monitor network traffic flows. An IPS is used to detect malicious activity, record threats, and take preventative action to prevent a threat from causing harm. Intrusion prevention is a threat detection approach that system and security managers can use in a security environment. All network traffic will be scanned by an intrusion prevention system. To do this, an IPS tool is usually installed directly behind a firewall, functioning as an extra layer that monitors events for harmful information. IPS instruments are installed in direct communication routes between a system and a network in this fashion, allowing them to examine network traffic.

Market Trends, Drivers, Restraints, and Opportunities

• Increased vulnerabilities in cloud computing settings are projected to fuel the market during the forecast period.
• Use of cloud services in a wide range of industries is key factor propelling the market.
• Improper network connection issues are estimated to hinder the market growth.
• Lack of skilled labor act as major challenge that can impede the market expansion in the coming years.
• R&D investment and technological advancement is expected to create lucrative opportunities for the market players.

Scope of the Report

The report on the cloud intrusion protection software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

The managed services segment is projected to hold a major market share

In terms of service, the cloud intrusion protection software market is segregated into consulting, managed services, design & integration, training & education. The managed services segment is expected to represent a key share of the market during the forecast period. Managed services provide continuous and regular monitoring of your systems in order to avoid breakdowns wherever feasible. Remote monitoring implies that the service provider can always observe what's going on and take immediate action to resolve the issue. The technique of outsourcing the responsibility for maintaining and anticipating the need for a variety of processes and tasks in order to enhance operations and save costs is known as managed services.

The telecom & information technology segment is expected to grow at a rapid pace

Based on industry vertical, the cloud intrusion protection software market is divided into telecom and information technology, banking & financial service, oil & gas, manufacturing, healthcare, government, travel and transport, retail, entertainment & media. The telecom and information technology segment is expected to represent a key share of the market during the forecast period. The telecom business, which services every other industry in the market, is rapidly adopting cloud intrusion prevention solutions. The telecom sector has evolved into a crucial connection that allows all industries to function without interruption. The reliance on communication is rising as cloud services become more widely available. As businesses move toward cloud and automation, they are progressively installing IT systems to support operations, as well as telecom sectors to provide connection and communication services, to make the entire system run smoothly.

Although telecom and IT have such a large interest in cyber connection, their cyber security investment is projected to be higher than that of other businesses.

North America is expected to dominate the market

On the basis of geography, the cloud intrusion protection software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. For cloud IPS software providers, the North American market has been their primary emphasis. The North American market contributes the most to cloud IPS software. The United States is a big contributor to the North American market due to early adoption and significant expenditures in the cloud environment. Factors such as existence of big companies, increasing frequency of cyber-attacks, and expanding number of hosted servers are anticipated to boost the market.

Segments

Segments Covered in the Report
The cloud intrusion protection software market has been segmented on the basis of

Service

• Consulting
• Managed Services
• Design & Integration
• Training & Education

Industry Vertical

• Telecom and Information Technology
• Banking & Financial Service
• Oil & Gas
• Manufacturing
• Healthcare
• Government
• Travel and Transport
• Retail
• Entertainment & Media

Geography

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• McAfee Inc. (Intel Corporation)
• Cisco Systems Inc.
• IBM Corporation
• Fortinet Inc.
• Check Point Software Technologies Ltd

Competitive Landscape

Key players competing in the cloud intrusion protection software market include McAfee Inc. (Intel Corporation), Cisco Systems Inc., IBM Corporation, Fortinet Inc., and Check Point Software Technologies Ltd.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.