In 2022, the global next-generation intrusion prevention system (NGIPS) market was worth US$ 265 million. This industry is expected to hit US$ 302.5 million by 2023 and US$ 1.23 billion by 2033, with a strong CAGR of 15.1% between 2023 and 2033.
Data Point | Key Statistics |
---|---|
Expected Market Value in 2023 | US$ 302.5 million |
Expected Market Value in 2033 | US$ 1.23 billion |
Growth Rate (2023 to 2033) | 15.1% CAGR |
The use of the Internet for calculated and systematically driven assaults on networks, terminals, IT systems, and data that cause businesses, governments, and people to lose data is a prime instance of a large-scale cyberattack on a global scale. Cybercrimes are happening more frequently as a result of the global vertical's accelerating pace of digital interactions. Market share is increased by next-generation intrusion prevention systems as a result of corporate data breaches or data disclosures.
The NGIPS system finds and prevents vulnerabilities. Every day, cyber threats become more advanced. To counter such sophisticated assaults, NGIPS typically works in tandem with a next-generation firewall (NGFW). It inspects communication as an inline device and stops any that is deemed malevolent or unwelcome. Instead of inline examination, it can also be used for passive monitoring at the periphery or data center dispersal.
The most effective Next-Generation Intrusion Prevention System is the one that is steady, dependable, and quick enough to safeguard the system in question. It should also be adaptable enough to combine with a current security infrastructure without requiring your company to redesign its network. To enable valid traffic, a specialized Next Generation Intrusion Prevention System penetrates the security architecture more deeply.
Furthermore, it detects complex assaults with the least amount of erroneous positives and without adding network latency. Additionally, a specialized NGIPS enables management and threat visualization for your organization based on attack chains, OS data at the device level, threat intelligence, user asset views, and more. Thus, owing to the wide array of benefits of this system, the forecast period, 2023 to 2033 holds new opportunities for this next-generation intrusion prevention system Market to grow at a steady pace.
Due to the high cost of implementation and upkeep, which requires a significant expenditure, small and medium-sized businesses by organization size are predicted to expand at the quickest rate over the forecast time. The protection of vital resources and valuables in a warehouse depends on perimeter incursion detection. The algorithm receives the video feed directly from the source and scans it for unauthorized physical access. It then recognizes any suspect activity and issues a caution.
Some of the prominent companies thriving in the global next-generation intrusion prevention system (NGIPS) Market are:
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Next-Generation Intrusion Prevention System (NGIPS) (FMC) market is expected to grow at a high CAGR of 15% from 2021 to 2031 and is projected to reach US$ 1 billion by 2031. The NGIPS works to monitor the network traffic, detect any suspicious activity, and conduct prevention measures before it harms the network infrastructure.
In comparison to traditional IPS solutions, the NGIPS provides broader vulnerability protection, especially in the application layer. These systems are designed using a combination of technologies such as deep packet inspection and threat reputation, to provide organizations with a proactive approach to security.
Cyber-attacks are becoming more sophisticated and thereby presenting increasing challenges in accurately detecting intrusions. The evolution of malwares poses a critical challenge to the design appropriate intrusion detection and prevention systems.
Malicious attacks have become more sophisticated and has created the biggest challenge to identify them, as the creators of malware use different evasion techniques for information concealing to prevent detection by an IPS systems.
Moreover, there has been an increase in security threats and attacks such as DDoS, APT’s and zero-day attacks designed to target internet users and organizations. Therefore, computer security has become essential as the use of information technology has become part of our daily lives.
According to Accenture, in 2020, 68% of business leaders feel their cybersecurity risks are increasing. Moreover, according to Verizon, in 2020, 71% of breaches were financially motivated and 25% were motivated by espionage. Thus, the rise in cybersecurity breaches and increasing sophistication level of cyber threats is expected to boost the demand for NGIPS in coming years.
Advanced security threats are highly sophisticated and constantly evolving, at times limiting the effectiveness of traditional signature- and hash-based detection and prevention systems. Even through, both the functions of traditional and IPS and NGIPS are same to detect network intrusions, the NGIPS helps in detection of wide variety of network-based attacks perpetrated by threat actors.
Unlike a traditional IPS, the NGIPS technology leverages Machine Learning (ML) powered analytics engines that are capable of identifying attacks that evade traditional misuse-based and anomaly-based engines.
With the help of statistical data models powered by ML technology helps closing the security gaps exploited by obfuscation and encryption, by doing so, improve the security effectiveness of NGIPS.
ML is used to gather the data regarding the unusual activities happing in the network, derives the appropriate insights from the data, and then automatically creates features to build and validate statistical models for identifying threats. Thus, several security IPS companies are leveraging ML technologies in their IPS systems to develop NGIPS and stay competitive in the market.
USA is expected to hold the largest share in the North America NGIPS market.
Several businesses in the country are increasingly implementing NGIPS solutions to detect and prevent threats at an early stage.
Moreover, the USA is witnessing a rising number of cyber threats from last 10 years. The recent cyber-attack in May, 2021, on the USA major oil and gas pipeline could become one of the most expensive attacks to any economy. The increasing digitalization of critical infrastructure sectors such as oil and gas, and the associated industrial systems in the country in one of the major reason behind the growth in cyber threats.
However, the country is home to multiple cybersecurity solution vendors, such as Palo Alto Networks, Check Point Software Technologies, McAfee, Juniper Networks, Fortinet, FireEye, Alert Logic, and along with several start-ups in the region offering enhanced NGIPS solutions and services to cater to the need of customers.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The digital push by the government of India is changing the way businesses are run in the country. However, the country has witnessed a surge in cyber-attacks amid a rapid adoption of digital services across the country.
Several Indian enterprises like JustDial, Unacademy, JusPay, Dr Reddy’s, Lupin, Bigbasket, and BuyUCoin, among others has faced data breaches amid the coronavirus pandemic, which have put a question mark on the data security in the country. Cyber security incidents jumped from 3,94,499 in 2019 to 11,58,208 in 2020, according to the data shared by the government.
Thus, an initiative has taken to implement strict laws for cybersecurity within the country.
With proliferation in internet and mobile phone usage, there is a rise in the number of cyber security incidents in the country. Thus, businesses are emphasizing proper cybersecurity protection within their enterprises, which creates higher demand for NGIPS from enterprises in India.
Some of the leading vendors offering NGIPS products include
These vendors have adopted various key strategies, to increase their customer base locally and globally. The vendors are focusing on product innovation and strategic partnerships with the regional vendors to collaborate for offering NGIPS systems to effectively prevent cyber-attacks before occurring.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Explore Technology Insights
View Reports