Cloud-based IDS IPS Market Trends

Growth Drivers

• Increasing Cases of Ransomware – In a short span, ransomware has rapidly become the most noticeable and dominant type of malware. Ransomware is a type of malware that is meant to prevent a user or organization from accessing files on their computer. Cyber attackers place organizations in a position where paying the ransom is the quickest and cheapest way to reclaim access to their files. Recent ransomware attacks have caused extensive damage on a range of organizations. It was observed that there were nearly 235 million ransomware attacks globally in the first half of 2022.

• Increasing Adoption of Robotic Process Automation (RPA) in Manufacturing Sector - By July 2022, it's expected that over 75% of businesses have already implemented RPA into their processes, and another 18% are intending to do so within the next three years.

• Upsurge in Distributed Denial of Service (DDoS) Threat – Globally, network-layer DDoS attacks have increased in the second quarter of 2022 by 110% year over year. Quarter over quarter, attacks of 100 Gbps or more and attacks lasting longer than 3 hours both increased by 7% and 12%, respectively. Whereas, application-layer Cyberattacks surged by 73% year over year.

• Upsurge in Adoption of Internet – As per the World Bank statistics, the number of internet users reached to 60% of the world’s population in 2020.  

• Worldwide Escalation in Zero Day Threats – It was observed that in third quarter of 2021, zero-day threat boosted to approximately 66%.

Challenges

• Lack of Highly Skilled Professionals
• Troubles Associated with Cloud IDS IPS Execution on Hybrid Cloud Systems
• Varying Regulatory Policies

The cloud-based IDS IPS market is segmented and analyzed for demand and supply by end-user into IT & telecom, BFSI, government & defense, education, retail, manufacturing, energy & utilities, healthcare, transportation, logistics, and others. Amongst these segments, the healthcare segment is anticipated to grow at a significant rate over the forecast period owing to the extensive use of cloud computing in healthcare sector, delivering cost-effective solutions for storing large amount of data, and by offering faster time-critical medical services. Additionally, cloud computing saves time while providing healthcare organizations with much-needed adaptability, expandability, and uplifting collaboration among healthcare researchers. For instance, many healthcare leaders are incorporating the advantages of cloud and software as a service (SaaS). Nearly 67% expected to move their technology infrastructures to the cloud by the end of 2022, with that figure expected to rise by 95% by 2024.