The cloud IDS IPS market accounted for USD 514.8 Million in 2016 and is projected to reach USD 1,764.7 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 24.04% during the forecast period. In this report, 2016 is considered as the base year, and 2017–2022 is the forecast period. The growing requirement for cost-effective and easily scalable security solutions is the major growth driver of the market.
Northbrook, IL -- (SBWIRE) -- 01/16/2018 -- The signature-based detection is expected to grow at a considerable CAGR during the forecast period
By solution type, the cloud IDS IPS market has been segmented into signature-based detection, anomaly-based detection, and other types. Signature-based detection involves the use of already defined patterns to scan for packet sequences that are known to be malicious. Signatures are easy to develop and understand owing to which they are widely used for intrusion prevention. Moreover, due to the availability of high computing power, pattern matching is more efficient and can be performed at a fast rate. These benefits provided by signature-based type are expected to further drive the growth of the cloud IDS IPS market during the forecast period.
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The support and maintenance services segment is expected to grow at the highest CAGR during the forecast period
By services, the cloud IDS IPS market is segmented into training and consulting, integration, and support and maintenance. The support and maintenance segment is expected to grow at the highest CAGR during the forecast period. Maintenance services facilitate upgrades to existing systems and provide assistance for solving issues of products. As the deployment of anomaly detection solutions is increasing, the demand for support and maintenance services is also gaining traction.
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North America is expected to dominate the cloud IDS IPS market during the forecast period
The global cloud IDS IPS market by region is segmented into North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is estimated to hold the largest market size in 2017, owing to the presence of a large number of vendors and rapid adoption of cloud-based solutions in this region. The market in APAC is expected to grow at the highest CAGR during the forecast period. The primary driving forces for this growth are the increasing awareness and adoption of cost-effective and scalable cloud-based solutions in this region.