The Europe intrusion detection / prevention system market is projected to grow at a fast rate with a CAGR of over 12% during the forecast timeframe. The market in this region is anticipated to grow at a fast pace due to a rise in the number of public-private partnerships and government investments to deploy the IDS / IPS in various points of network system. For instance, the European Union Commission has launched a public-private partnership on cybersecurity that is expected to trigger USD 2 billion of investment by 2020. The UK holds a strong position in the Europe market due to the growing adoption of cloud in public sector institutes by the UK government driving the growth of intrusion detection / prevention system market.
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The increasing threat of data breaches and rising proliferation of digitalization have been responsible for driving intrusion detection / prevention system market share in the recent years. The last couple of decades have witnessed the technology landscape across various end-use domains to have undergone a massive transformation. Alongside, there has been a vast upsurge in the number of computer networks as well, leading to a major surge in the demand for efficient systems and solutions to counter data threats.
The network-based IDS / IPS accounted for a share of over 24% in 2018 in the global intrusion detection / prevention system market. This system is used for monitoring and analyzing network traffic to safeguard the system from network-based threats. It enables organization to use limited devices for monitoring large networks augmenting their adoption rate. It provides improved visibility across the network, making it easier to meet the security regulations. The systems can also automate hardware inventories reducing labor cost and improving efficiency augmenting their demand in the global market.
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The managed service accounts for the largest share in the global intrusion detection / prevention system market and is projected to remain dominant over the forecast timespan. The adoption of managed service is on a rise mainly due to the increased sophistication and skill of network attacks, rising number of possibilities to access a network and the growing complexity of defending against threats and intrusion. The managed service providers offer a virtual team to investigate alerts, report security threats, and offer the remediation guidance improving the customers’ ability to respond to unauthorized access or potential intrusions effectively and swiftly driving its market adoption rate.
The BFSI sector is predicted to grow at the fastest rate in the intrusion detection / prevention system market growing at a CAGR of 15% between 2019 to 2025. The BFSI industry deals with huge bulk of financial data facilitating insurance, transactions and related financial services to its customers. These financial institutions are prone to huge cyber crimes and physical risks, thereby demanding enhanced security solutions for the industry. The rising adoption of advanced technology, electronic platform, internet, cloud, and mobile banking have created an increased susceptibility to cyber threats to the critical data of the banking customers. This has enhanced the requirement for implementing next generation IDS / IPS solutions in the banking sector.
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The key vendors operational in the intrusion detection / prevention system market are Cisco, IBM, Dell, Juniper Networks, HP, Huawei, Symantec, Trend Micro, Imperva, McAfee, Sophos, Extreme Networks, and BAE Systems. Companies operating in the market are consistently involved in developing and commercializing advanced intrusion prevention systems.
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