Intrusion Prevention Systems (IPS) is a network safety technology that examines network traffic flow to detect and prevent any malicious intrusions. Growing criminal attacks, as well as in-house & external unethical practices, are projected to be the key aspects that boost the global intrusion prevention system market. Growing trend of office & home security system automation is also projected to raise the market demand. Increasing tablet & Smartphone proliferation has resulted in increased mobility, which is also projected to boost the industry growth. In addition, increasing disposable income, in various developed as well as developing nations, is also said to be the major demand driving factor.
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Safety has been a major concern in many sectors such as industrial & commercial areas. Growing implementation of new technology in these sectors is also projected to help boost the industry growth. Advancements in the semiconductor technology such as Liquid Crystal Displays (LEDs) and photodiode may also boost the market growth. The advent of cable provider & prominent telecommunication is also projected to maximize the penetration rate in the near future.
Integration of various detection systems with intrusion prevention systems has automated various protective measures, such as notifying police, may also help in the industry growth. Technologies such as Biometrics provide fingerprints, palm veins, face recognition etc. and integration with such authentication system may help fulfill the high safety needs of certain industries helping the future market growth.
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An introduction of video-based and an increase in sensitive touch-based intrusion detection systems are also projected to boost the market demand. Increasing demand across the Banking, Financial Services & Insurance (BFSI) sector, so as to safeguard the stored valuables, is also said to be the major factor boosting the market growth.
All these aspects have helped boost the intrusion prevention systems market and it is projected to grow from $2.7 billion in 2014 to $5.4 billion in 2019 with a CAG rate of 13.3%.
High safety awareness in the developed areas, such North America, may result in extensive growth. Asia-Pacific region is said to exhibit a high growth due to increased burglary rate and consumer disposable income. The Middle East & Africa region is also expected to witness tremendous growth due to increasing investment in infrastructure as well as the development of data center by major IT companies.
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Some of the key market players include Bosch Security Systems, UTC Fire & Security, Honeywell International Inc., Tyco International Ltd., Godrej & Boyce Manufacturing Co. Ltd., and Nortek Security & Control LLC.
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