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    Cloud IDS IPS Market

    ID: MRFR/ICT/30067-HCR
    128 Pages
    Aarti Dhapte
    October 2025

    Cloud IDS IPS Market Research Report By Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), By Service Type (Identity Management, Access Management, API Protection, Data Security), By Customer Type (Small and Medium Enterprises, Large Enterprises, Government Organizations), By End User Industry (Healthcare, Finance, Retail, Information Technology), By Compliance Requirement (GDPR, HIPAA, PCI-DSS, SOX) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

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    Cloud IDS IPS Market Infographic
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    Cloud IDS IPS Market Summary

    As per MRFR analysis, the Cloud IDS IPS Market Size was estimated at 7.513 USD Billion in 2024. The Cloud Ids Ips industry is projected to grow from 8.311 USD Billion in 2025 to 22.8 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 10.62 during the forecast period 2025 - 2035.

    Key Market Trends & Highlights

    The Cloud IDS IPS market is experiencing robust growth driven by technological advancements and increasing cybersecurity demands.

    • The market is witnessing increased adoption of cloud solutions, particularly in North America, which remains the largest market.
    • In Asia-Pacific, the focus on regulatory compliance is propelling rapid growth in the cloud security sector.
    • Integration of artificial intelligence is becoming a pivotal trend, enhancing the capabilities of both public and hybrid cloud environments.
    • Rising demand for cybersecurity solutions and regulatory compliance pressures are key drivers influencing market dynamics.

    Market Size & Forecast

    2024 Market Size 7.513 (USD Billion)
    2035 Market Size 22.8 (USD Billion)
    CAGR (2025 - 2035) 10.62%

    Major Players

    Amazon Web Services (US), Microsoft Corporation (US), Google Cloud (US), IBM Corporation (US), Oracle Corporation (US), Alibaba Cloud (CN), Salesforce.com (US), Cisco Systems (US), VMware (US)

    Cloud IDS IPS Market Trends

    The Cloud Ids Ips Market is currently experiencing a transformative phase, driven by the increasing demand for advanced security solutions in the digital landscape. Organizations are increasingly recognizing the necessity of robust intrusion detection and prevention systems to safeguard their sensitive data from evolving cyber threats. This heightened awareness is fostering a competitive environment where innovation and technological advancements are paramount. As businesses migrate to cloud-based infrastructures, the integration of sophisticated security measures becomes essential, thereby propelling the growth of the Cloud Ids Ips Market. Furthermore, the rise of remote work and digital transformation initiatives is compelling enterprises to adopt comprehensive security frameworks that encompass both on-premises and cloud environments. In addition to the growing emphasis on security, regulatory compliance is emerging as a critical driver within the Cloud Ids Ips Market. Organizations are compelled to adhere to stringent data protection regulations, which necessitate the implementation of effective security measures. This compliance landscape is influencing purchasing decisions, as companies seek solutions that not only provide protection but also facilitate adherence to legal requirements. Consequently, vendors are focusing on developing solutions that align with these regulations, thereby enhancing their market positioning. Overall, the Cloud Ids Ips Market appears poised for sustained growth, characterized by innovation, compliance, and an unwavering commitment to security.

    Increased Adoption of Cloud Solutions

    The shift towards cloud computing is prompting organizations to adopt Cloud Ids Ips solutions more widely. As businesses transition to cloud environments, the need for effective security measures becomes paramount, leading to a surge in demand for intrusion detection and prevention systems.

    Focus on Regulatory Compliance

    With the evolving landscape of data protection laws, organizations are prioritizing compliance in their security strategies. This trend is driving the development of Cloud Ids Ips solutions that not only protect data but also ensure adherence to regulatory requirements.

    Integration of Artificial Intelligence

    The incorporation of artificial intelligence into Cloud Ids Ips solutions is gaining traction. AI technologies enhance threat detection capabilities, enabling organizations to respond more swiftly to potential security breaches and adapt to emerging threats.

    Cloud IDS IPS Market Drivers

    Regulatory Compliance Pressures

    The Cloud Ids Ips Market is significantly influenced by regulatory compliance pressures. Organizations are increasingly required to adhere to stringent data protection regulations, such as GDPR and HIPAA, which mandate the implementation of effective security measures. This regulatory landscape compels businesses to invest in intrusion detection and prevention systems to ensure compliance and avoid hefty fines. Recent reports suggest that non-compliance can result in penalties exceeding 4% of annual global revenue. Consequently, the Cloud Ids Ips Market is likely to see a rise in demand for solutions that facilitate compliance, as organizations prioritize risk management and legal adherence.

    Expansion of Cloud Infrastructure

    The Cloud Ids Ips Market is poised for growth due to the ongoing expansion of cloud infrastructure. As more enterprises adopt cloud computing, the demand for integrated security solutions, including intrusion detection and prevention systems, is expected to rise. Recent statistics indicate that the cloud infrastructure market is anticipated to grow at a compound annual growth rate of over 20% through 2025. This expansion creates opportunities for the Cloud Ids Ips Market to innovate and offer advanced security solutions tailored to diverse cloud environments. The increasing complexity of cloud architectures necessitates sophisticated security measures, further propelling market growth.

    Increased Awareness of Cyber Threats

    The Cloud Ids Ips Market is experiencing growth due to increased awareness of cyber threats among organizations. As high-profile data breaches and cyberattacks become more prevalent, businesses are recognizing the critical need for effective security solutions. This heightened awareness is driving investments in intrusion detection and prevention systems, as companies aim to protect their assets and maintain customer trust. Recent surveys indicate that over 70% of organizations consider cybersecurity a top priority, which is likely to bolster the Cloud Ids Ips Market. The ongoing evolution of cyber threats necessitates continuous innovation in security solutions, further fueling market demand.

    Integration of Advanced Technologies

    The Cloud Ids Ips Market is benefiting from the integration of advanced technologies such as artificial intelligence and machine learning. These technologies enhance the capabilities of intrusion detection and prevention systems, allowing for more accurate threat detection and response. As organizations seek to leverage these innovations, the market for cloud-based security solutions is expected to expand. Recent analyses indicate that AI-driven security solutions could reduce incident response times by up to 50%, making them highly attractive to businesses. This trend suggests that the Cloud Ids Ips Market will continue to evolve, driven by the demand for smarter, more efficient security measures.

    Rising Demand for Cybersecurity Solutions

    The Cloud Ids Ips Market is experiencing a notable surge in demand for cybersecurity solutions. As organizations increasingly migrate to cloud environments, the need for robust security measures becomes paramount. According to recent data, the cybersecurity market is projected to reach approximately 300 billion USD by 2025, indicating a strong correlation with the growth of cloud services. This trend suggests that businesses are prioritizing the protection of sensitive data, thereby driving investments in intrusion detection and prevention systems. The Cloud Ids Ips Market is likely to benefit from this heightened focus on security, as companies seek to mitigate risks associated with cyber threats.

    Market Segment Insights

    By Deployment Model: Public Cloud (Largest) vs. Hybrid Cloud (Fastest-Growing)

    The Cloud Ids Ips Market exhibits a diverse landscape across its deployment models, with the Public Cloud commanding the largest share. Organizations widely adopt Public Cloud solutions due to their scalability, flexibility, and cost-effectiveness, enabling easy access to a plethora of resources and services. Meanwhile, the Hybrid Cloud segment is rapidly gaining traction as businesses seek to balance the advantages of both public and private infrastructures, tailoring their strategies to optimize security and performance. Growth trends in the Cloud Ids Ips Market are increasingly influenced by the rising demand for digital transformation and the need for improved data management solutions. With enhanced cloud capabilities, organizations are also prioritizing security and compliance, driving interest in Hybrid Cloud deployments. Furthermore, as businesses look to future-proof their operations, innovative technologies within the cloud ecosphere catalyze growth in these segments, compelling organizations to adopt a mix of deployment strategies to remain competitive.

    Public Cloud (Dominant) vs. Hybrid Cloud (Emerging)

    The Public Cloud remains a dominant force within the Cloud Ids Ips Market, primarily due to its advantageous cost structure and elastic scalability. Organizations leveraging Public Cloud solutions benefit from readily available resources and reduced time-to-market capabilities. Conversely, the Hybrid Cloud is emerging as an attractive option for companies seeking to enhance their control over data while still capitalizing on the operational efficiencies of the cloud. This model enables firms to maintain critical data on private servers while utilizing public solutions for less sensitive workloads, positioning Hybrid Cloud as a viable choice for a variety of industries focused on maintaining agility and security in their operations.

    By Service Type: Identity Management (Largest) vs. Access Management (Fastest-Growing)

    In the Cloud Ids Ips Market, Identity Management holds the largest market share among the service types, reflecting its critical importance in establishing secure access for users. This segment dominates the market due to the increasing necessity for identity verification and management in various organizational sectors. However, Access Management is emerging as a significant player, capturing the attention of enterprises seeking enhanced security protocols, which has led to its rapid growth in recent years.

    Identity Management: Dominant vs. Access Management: Emerging

    Identity Management is recognized as the dominant force within the Cloud Ids Ips Market, providing essential services for verifying and authenticating user identities across multiple platforms. This segment emphasizes the need for robust security measures to prevent unauthorized access and data breaches, making it indispensable for organizations. On the other hand, Access Management is considered an emerging segment, gaining traction as more businesses focus on the complexities of securing user access to sensitive information. It encompasses a range of solutions tailored to manage user permissions effectively and reduce risks, positioning itself as a key player in enhancing overall security frameworks.

    By Customer Type: Small and Medium Enterprises (Largest) vs. Large Enterprises (Fastest-Growing)

    In the Cloud Ids Ips Market, the distribution of market share among customer types shows that Small and Medium Enterprises (SMEs) hold a significant portion of the market. Their agility and lower operational costs make them prime candidates for adopting cloud technologies. On the other hand, Large Enterprises, while not holding the largest share, are rapidly increasing their stake as they transition to more scalable solutions that enhance operational efficiency and flexibility, positioning themselves strategically for future growth.

    Small and Medium Enterprises (Dominant) vs. Government Organizations (Emerging)

    Small and Medium Enterprises are characterized by their flexibility, innovation, and quicker decision-making processes, which allow them to leverage cloud technologies effectively. They often seek cost-effective solutions that provide scalability and efficiency, making them a dominant force in the Cloud Ids Ips Market. Conversely, Government Organizations, although emerging and traditionally slower to adopt cloud solutions, have begun to recognize the benefits of such technologies for enhancing public services and streamlining operations. Their stringent regulatory requirements and security concerns create unique challenges that cloud solutions must address, leading to innovative approaches tailored specifically for the public sector.

    By End User Industry: Healthcare (Largest) vs. Finance (Fastest-Growing)

    In the Cloud Ids Ips Market, the Healthcare sector holds the largest share, driven by a growing demand for secure data management and compliance with strict regulatory standards. As digital health continues to evolve, healthcare providers are increasingly adopting cloud-based solutions to improve patient care and streamline operations. Meanwhile, the Finance industry is witnessing a rapid increase in its market share as financial institutions embrace cloud technologies to enhance their service offerings and improve security measures.

    Healthcare: Healthcare (Dominant) vs. Finance (Emerging)

    The healthcare segment is characterized by robust demand for cloud solutions that ensure data security and facilitate real-time access to patient information. This sector prioritizes compliance with regulations and data privacy, making cloud IDS a vital component in safeguarding sensitive health data. On the other hand, the Finance industry, while currently smaller in share, is emerging rapidly as institutions recognize the competitive advantages of cloud technologies. This segment focuses on risk management, operational efficiency, and rapid innovation. As financial services evolve, the importance of cloud IDS is expected to grow significantly, reflecting the industry's increasing reliance on digital transformation.

    By Compliance Requirement: GDPR (Largest) vs. HIPAA (Fastest-Growing)

    In the Cloud Ids Ips Market, the compliance requirement segment is characterized by a diverse landscape where GDPR holds the largest market share. GDPR's comprehensive data protection mandates resonate well with various industries, leading it to secure a majority of the compliance investments. Meanwhile, HIPAA, while slightly smaller in market share, is rapidly gaining traction, fueled by an increasing focus on healthcare data security and the necessity for compliance amongst healthcare providers.

    GDPR (Dominant) vs. HIPAA (Emerging)

    GDPR is recognized as the dominant player in the compliance requirement segment, reflecting its stringent regulations and broad applicability across industries involved in data handling. Organizations prioritize GDPR compliance to mitigate risks associated with data breaches and non-compliance. Conversely, HIPAA is emerging strongly in the market, specifically catering to the healthcare sector, where patient data protection is paramount. The rise in telehealth and electronic health records drives demand for HIPAA compliance solutions, marking it as an essential focus area for vendors targeting this vital sector.

    Get more detailed insights about Cloud IDS IPS Market

    Regional Insights

    North America : Cloud Innovation Leader

    North America remains the largest market for Cloud Ids Ips, holding approximately 45% of the global share. The region's growth is driven by rapid digital transformation, increased demand for scalable solutions, and robust regulatory frameworks that support cloud adoption. The presence of major tech companies and a strong startup ecosystem further catalyze market expansion, making it a hub for innovation and investment. The United States is the leading country in this region, with significant contributions from Canada. Key players such as Amazon Web Services, Microsoft, and Google Cloud dominate the landscape, offering a wide range of services. The competitive environment is characterized by continuous innovation and strategic partnerships, ensuring that North America remains at the forefront of cloud technology advancements.

    Europe : Emerging Cloud Powerhouse

    Europe is rapidly emerging as a significant player in the Cloud Ids Ips market, holding around 30% of the global share. The region's growth is fueled by stringent data protection regulations, such as GDPR, which encourage businesses to adopt cloud solutions for compliance. Additionally, the increasing demand for digital services and the push for sustainability are driving cloud adoption across various sectors. Leading countries in Europe include Germany, the UK, and France, each contributing to the competitive landscape with their unique strengths. Major players like IBM and Oracle are expanding their presence, while local providers are also gaining traction. The European market is characterized by a focus on data sovereignty and security, which shapes the offerings of cloud service providers.

    Asia-Pacific : Rapidly Growing Market

    Asia-Pacific is witnessing a surge in Cloud Ids Ips adoption, accounting for approximately 20% of the global market share. The region's growth is driven by increasing internet penetration, a burgeoning middle class, and government initiatives promoting digital economies. Countries like China and India are at the forefront, with significant investments in cloud infrastructure and services, further propelling market expansion. China leads the region, followed closely by India and Japan. The competitive landscape is marked by the presence of local giants like Alibaba Cloud and Tencent, alongside global players such as Microsoft and Google. The region's diverse needs and rapid technological advancements create a dynamic environment for cloud service providers, fostering innovation and competition.

    Middle East and Africa : Emerging Digital Frontier

    The Middle East and Africa are emerging as a new frontier for Cloud Ids Ips, holding about 5% of the global market share. The region's growth is driven by increasing investments in digital infrastructure, government initiatives to promote technology adoption, and a young, tech-savvy population. Countries like the UAE and South Africa are leading the charge, with significant government support for cloud initiatives. The competitive landscape is evolving, with both local and international players vying for market share. Key players include Microsoft and AWS, which are expanding their services to cater to regional needs. The focus on digital transformation and smart city initiatives is expected to further accelerate cloud adoption in this region, making it a promising market for future growth.

    Key Players and Competitive Insights

    The Global Cloud Intrusion Detection System (IDS) and Intrusion Prevention System (IPS) Market is rapidly evolving, marked by an increasing demand for security solutions due to growing cyber threats and attacks as organizations shift to cloud-based services. The competitive landscape is shaped by a mixture of large players and emerging companies that are innovating to provide advanced security features. Competitors are focusing on enhancing their offerings with automation, artificial intelligence, and machine learning capabilities to detect threats more effectively and respond in real-time. 

    Market players are also working on strengthening their distribution networks and partnerships, enabling them to reach a wider audience, while regulatory compliance and customer preferences significantly influence their operational strategies. As competition intensifies, businesses are compelled to adopt more agile strategies, which increasingly embrace cloud-native solutions to keep pace with evolving cybersecurity requirements.

    Amazon Web Services stands out in the Global Cloud IDS IPS Market due to its extensive infrastructure and wide-ranging service offerings. The company's strength lies in its ability to seamlessly integrate security protocols into its vast cloud platform, ensuring that organizations can implement robust security measures without compromising performance. AWS provides customers with scalable and flexible IDS and IPS solutions that cater to a variety of needs, from startups to large enterprises. The cloud ecosystem of Amazon Web Services promotes a proactive security model, providing users with continuous monitoring and threat intelligence capabilities.

    Furthermore, the investment AWS makes in research and development has allowed it to stay ahead in technological advancements, providing users with an edge in mitigating risks and responding to incidents swiftly. This strong commitment to security enhances the trust that clients place in their solutions, thereby solidifying their market presence.

    Cisco also plays a significant role in the Global Cloud IDS IPS Market, leveraging its established reputation for network security and comprehensive security management. The company offers advanced IDS and IPS solutions that are designed to operate seamlessly within complex cloud environments. Cisco's strengths include its deep expertise in threat detection and its innovative technologies that focus on delivering real-time insights and automated responses to potential threats. The integration of artificial intelligence and machine learning into Cisco's security solutions allows for adaptive threat responses, making them particularly attractive for businesses looking to enhance their security posture against sophisticated cyber-attacks.

    Cisco's commitment to creating an interconnected security ecosystem helps to ensure that its offerings work in harmony with other security tools and practices, providing customers with a holistic approach to cloud security. Additionally, the strong presence of Cisco's support and services teams ensures that companies receive ongoing assistance in maintaining and optimizing their security solutions.

    Key Companies in the Cloud IDS IPS Market market include

    Industry Developments

    • Q2 2024: Google Cloud launches Cloud IDS in new regions to expand global security coverage Google Cloud announced the expansion of its Cloud IDS (Intrusion Detection System) service to additional global regions, aiming to provide enhanced threat detection and prevention capabilities for enterprise customers operating in diverse geographies.
    • Q2 2024: Microsoft Azure introduces advanced threat prevention features in Azure Firewall and IDS/IPS Microsoft announced new advanced threat prevention capabilities for its Azure Firewall and integrated IDS/IPS services, including AI-driven anomaly detection and automated response features for cloud-native environments.
    • Q3 2024: Palo Alto Networks acquires startup Cider Security to bolster cloud IDS/IPS portfolio Palo Alto Networks completed the acquisition of Cider Security, an Israeli startup specializing in cloud-native application security, to enhance its cloud IDS/IPS offerings and provide deeper protection for DevOps pipelines.
    • Q3 2024: AWS launches new managed IDS/IPS service for hybrid cloud deployments Amazon Web Services introduced a new managed IDS/IPS solution designed for hybrid cloud environments, enabling customers to monitor and protect workloads across on-premises and cloud infrastructure with unified threat intelligence.
    • Q4 2024: Cisco unveils next-generation cloud-based IDS/IPS platform with AI-powered threat detection Cisco announced the launch of its next-generation cloud-based IDS/IPS platform, featuring AI-powered threat detection and automated remediation capabilities to address evolving cyber threats in multi-cloud environments.
    • Q4 2024: SentinelOne acquires PingSafe to expand cloud IDS/IPS and CNAPP capabilities SentinelOne acquired PingSafe, a cloud-native application protection platform (CNAPP) provider, to strengthen its cloud IDS/IPS and security posture management offerings for enterprise customers.
    • Q1 2025: IBM Security launches Cloud Pak for Security with integrated IDS/IPS for multi-cloud IBM introduced a new version of its Cloud Pak for Security platform, now featuring integrated IDS/IPS capabilities to help organizations detect and respond to threats across multiple cloud providers.
    • Q1 2025: Check Point launches Quantum CloudGuard IDS/IPS for SaaS and IaaS environments Check Point Software Technologies announced the release of Quantum CloudGuard IDS/IPS, a new solution designed to protect SaaS and IaaS workloads with real-time threat detection and prevention.
    • Q2 2025: CrowdStrike announces partnership with Google Cloud to deliver integrated cloud IDS/IPS CrowdStrike and Google Cloud entered a strategic partnership to offer integrated cloud IDS/IPS solutions, combining CrowdStrike's threat intelligence with Google Cloud's security infrastructure.
    • Q2 2025: Fortinet wins major contract to provide cloud IDS/IPS for European telecom consortium Fortinet secured a multi-year contract to supply its cloud-based IDS/IPS solutions to a consortium of leading European telecom operators, supporting their transition to secure 5G and cloud-native networks.
    • Q3 2025: Zscaler announces IPO of cloud IDS/IPS business unit Zscaler revealed plans to spin off and publicly list its cloud IDS/IPS business unit, aiming to accelerate innovation and growth in the cloud security sector.
    • Q3 2025: Darktrace launches autonomous cloud IDS/IPS platform with self-learning AI Darktrace introduced a new autonomous cloud IDS/IPS platform powered by self-learning AI, designed to detect and neutralize novel cyber threats in real time across cloud environments.

    Future Outlook

    Cloud IDS IPS Market Future Outlook

    The Cloud IDS IPS Market is projected to grow at a 10.62% CAGR from 2024 to 2035, driven by increasing cybersecurity threats and demand for cloud-based solutions.

    New opportunities lie in:

    • Development of AI-driven threat detection systems
    • Expansion of managed security service offerings
    • Integration of IoT security protocols into cloud infrastructures

    By 2035, the market is expected to be robust, reflecting substantial growth and innovation.

    Market Segmentation

    Cloud IDS IPS Market Regional Outlook

    • North America
    • Europe
    • South America
    • Asia Pacific
    • Middle East and Africa

    Cloud IDS IPS Market Service Type Outlook

    • Identity Management
    • Access Management
    • API Protection
    • Data Security
    • Cloud IDS IPS Market Customer Type Outlook

    Cloud IDS IPS Market Customer Type Outlook

    • Small and Medium Enterprises
    • Large Enterprises
    • Government Organizations
    • Cloud IDS IPS Market End User Industry Outlook

    Cloud IDS IPS Market End User Industry Outlook

    • Healthcare
    • Finance
    • Retail
    • Information Technology
    • Cloud IDS IPS Market Compliance Requirement Outlook

    Cloud IDS IPS Market Compliance Requirement Outlook

    • GDPR
    • HIPAA
    • PCI-DSS
    • SOX
    • Cloud IDS IPS Market Regional Outlook

    Report Scope

    MARKET SIZE 20247.513(USD Billion)
    MARKET SIZE 20258.311(USD Billion)
    MARKET SIZE 203522.8(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR)10.62% (2024 - 2035)
    REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR2024
    Market Forecast Period2025 - 2035
    Historical Data2019 - 2024
    Market Forecast UnitsUSD Billion
    Key Companies ProfiledMarket analysis in progress
    Segments CoveredMarket segmentation analysis in progress
    Key Market OpportunitiesIntegration of advanced machine learning algorithms enhances threat detection in the Cloud Ids Ips Market.
    Key Market DynamicsRising demand for advanced security solutions drives innovation and competition in the Cloud Intrusion Detection and Prevention Systems market.
    Countries CoveredNorth America, Europe, APAC, South America, MEA

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    FAQs

    What was the expected market size of the Global Cloud IDS Ips Market by 2034?

    The Global Cloud IDS Ips Market was expected to be valued at 20.61 USD Billion by 2034.

    What is the projected CAGR for the Global Cloud IDS Ips Market from 2025 to 2034?

    The expected CAGR for the Global Cloud IDS Ips Market from 2025 to 2034 is 10.62%

    Which region had the largest market share in 2023 for the Global Cloud IDs Ips Market?

    In 2023, North America had the largest market share, valued at 2.53 USD Billion.

    What is the market size of the Public Cloud segment in the Global Cloud IDs Ips Market by 2032?

    The Public Cloud segment is expected to be valued at 6.0 USD Billion by 2032.

    Who are the key players in the Global Cloud IDs Ips Market?

    Major players in the market include Amazon Web Services, Cisco, Google Cloud and more.

    What is the expected market size of the Hybrid Cloud segment by 2032?

    The Hybrid Cloud segment is projected to reach a size of 4.7 USD Billion by 2032.

    How much is the Private Cloud segment valued in 2023?

    The Private Cloud segment is valued at 1.83 USD Billion in 2023.

    What is the forecasted market size for the APAC region by 2032?

    The APAC region is anticipated to be valued at 4.0 USD Billion by 2032.

    What is the expected market size in South America by 2032?

    The South America market size is expected to reach 1.8 USD Billion by 2032.

    What is the expected value of the MEA market segment by 2032?

    The MEA market segment is anticipated to be valued at 1.6 USD Billion by 2032.

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