The Intrusion Detection System industry in North America is expected to witness tremendous growth in the coming years, between the forecast period of 2020 to 2028.
Reports indicate the prominence of 5G technology will be fuelling the growth. By 2023, nearly half the population in North America will be leveraging the 5G technology, as per a recent study by CRIFAX.
In addition to 5G, the growth in technological advancements in the Information and Communication Technology industry and the emergence of Artificial Intelligence and the Internet of Things are also likely to impact change in the industry. According to the report, mergers and acquisitions taking place in the region can also contribute to the overall development of the IDS industry.
Overall, the global intrusion detection systems market is undergoing an exciting phase. In 2021, the market was worth about US$5199.4. By 2028, the market could be worth about USD 7088.2 million. The expected CAGR is 4.5. North America is expected to be a significant contributor to the overall growth of the worldwide IDS market.
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The demand for 5G is rising due to the ever-increasing requirement for reduced latency in communication and enhanced network reliability. Also, the high usage of 5G for powering IoT devices is another growth booster. As a result, the IoT sector in North America is also expected to witness tremendous growth.
North America will be a significant contributor to the rise of the worldwide IoT Connectivity Management Platform Market. It seems, of late, there has been an inflow of investment towards research and development and the adoption of solutions.