According to the research report titled ‘Global Intrusion Detection and Prevention Systems Market Size study, by Component (Solutions and Services), By Type (Network-based, Wireless-based, Network behavior analysis and Host-based), By Organization size (Small and Medium-sized Enterprises (SMEs) and Large Enterprise), By Deployment mode (Cloud and On-premises), By Vertical (Banking, Financial Services and Insurance (BFSI), Government and Defense, Healthcare Information Technology (IT) and Telecom, Retail and eCommerce, Manufacturing and Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global intrusion detection and prevention systems market amassed USD 4.6 billion in 2019 and is predicted to record a CAGR of 5.4% during 2020-2027.
 

Global intrusion detection and prevention systems market is witnessing growth owing to the ability of these equipment to detect the threats and automatically take preventive measures using advanced technologies like artificial intelligence and automation.
 

Increasing security concern, constant changes in regulatory landscape, and threat of data breach are majorly fueling the growth of global intrusion detection and prevention systems market. Further, rising cases of cyberattacks like malware, ransomware, and denial-of-service (DoS) attacks that have damaging and long-term impact on the company and customer relationships are boosting the demand for intrusion detection & preventions solutions.  
 

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Moreover, adoption of strategies such as innovation, product launch, and merger & acquisition by leading companies to sustain in the competitive arena is positively impacting the market growth. However, restricted security budget in small and medium-sized enterprises is majorly restraining the global intrusion detection and prevention systems industry size.
 

Based on vertical, global intrusion detection and prevention systems market is segmented into healthcare, banking, financial services, & insurance (BFSI), manufacturing, information technology (IT) & telecom, retail & ecommerce, government & defense, and others. With regards to deployment mode, the industry is bifurcated into on-premises and cloud.
 

Considering the organization size, worldwide intrusion detection and prevention systems industry is divided into large enterprise, and small & medium-sized enterprises (SMEs). Speaking of type, the industry is fragmented into network-based, host-based, network behavior analysis, and wireless-based. With regards to component, the industry is classified into services, and solutions.
 

From regional frame of reference, North America intrusion detection & prevention systems market is accruing notable gains in recent times mainly due to presence of well-established economies that can significantly invest in research and development (R&D) activities in the region.
 

Major players influencing global intrusion detection and prevention systems market trends include Cisco Systems Inc., Bricata Inc., WatchGuard Technologies Inc., ExtraHop Networks Inc., Huawei Technologies Co. Ltd., Secureworks Inc., IBM Corporation, Vectra AI Inc., Palo Alto Networks Inc., and AT&T Cybersecurity.