Cloud Intrusion Protection Software Market Size

Cloud Intrusion Protection Software Market Analysis

The Cloud Intrusion Protection Software Market size is estimated at USD 1.45 billion in 2024, and is expected to reach USD 5.66 billion by 2029, growing at a CAGR of 29.87% during the forecast period (2024-2029).

• The use of cloud services is growing rapidly in a broad range of areas as more companies are beginning to implement cloud services. Software vulnerabilities have become a serious problem, and several organizations struggle to patch their environments when new software updates are released to block emerging threats.
• Cloud IPS solutions protect cloud-based and on-premises applications by blocking traffic that attempts to exploit known vulnerabilities, including those contained in the CVE database. This reduces the burden of manually patching enterprise servers, user systems, or cloud applications, as Cloud IPS protects against new vulnerabilities without requiring manual intervention by security or IT teams.
• According to IC3, Phishing attacks have significantly increased in recent years. In 2022, more than 300,000 people fell victim to such attacks. Phishing attacks come in many forms. The most common types are bulk phishing, smishing, and business email compromise (BEC). In 2022, 85% of global organizations surveyed stated that they had experienced a major phishing attack, and almost three in four said they were affected by a smishing scam.
• The increasing number of cyber threats and hacking attempts drive companies and individual users to use cloud intrusion protection software. In addition, considering the increasing number of intrusion incidents in business networks, there has been increased IT spending on network security. Intrusion detection and prevention have been the most important hacks for IT companies to protect themselves from targeted attacks.
• Saving a company from hackers has become a major effort by IT companies these days. However, network performance loss owing to several checks and false positives and false negative detections by this software can lead to a loss of market demand.
• Cyber threats have increased, exacerbated by increased long-distance connectivity and working from home due to COVID-19. As a result, the demand for cybersecurity solutions is increasing across various industries. Organizations invest in advanced cybersecurity technologies such as firewalls, intrusion detection and prevention systems, and encryption tools to protect their networks and systems from cyber threats.