(IT-NEWSWIRE.COM, August 05, 2022 ) The endpoint security market is expected to grow at a CAGR of 5.9% from 2020 to reach $18.6 billion by 2027. Various factors such as growing e-commerce industry, increasing number of IoT devices, emergence of disruptive digital technologies across the industry verticals, and increasing demand for endpoint security are expected to boost the demand for endpoint security solutions and services across the globe. However, endpoint security is not considered as comprehensive security measure especially by small and medium scale enterprises. This might restrain the market growth to a certain extent. Also, some misconceptions and lack of knowledge about endpoint security solution is also posing some serious challenge to the proliferation of endpoint security solutions especially in developing nations.
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Endpoint security serves a critical step in securing endpoint devices such as desktops, laptops, and mobile devices among others, that act as point of access to any structured network. Such endpoints can be vulnerable to malicious attacks from hackers and viruses and can exploit at the expense of cybersecurity. Endpoint security has gained a greater importance over the years and has become a common part of individuals’ life those are associated with a computer or smartphone and smart devices. Endpoint security technologies are packed with several benefits such as protection for vulnerable services; provide network security for internet, cloud security, and enhanced data privacy & policy enforcement. Endpoint security against online threats holds a greater significance in today’s digital changing landscape.
Increasing adoption of cloud computing, and IoT among others have changed the scenario of modern-day business needs by promoting maximum agility to achieve competitiveness. Due to this, the overall concerns associated with cyber-attacks, data breaches, and data thefts among others have also increased significantly in past few years. Hence, endpoint security emerged as quintessential tool for organizations to minimize the problems associated with data security. In order to protect endpoint devices and information from security breaches and cyber -attacks, the implementation of endpoint security solutions is increasing across various business verticals, which is ultimately driving the growth of endpoint security market.
The global endpoint security market is segmented based on component, enforcement point, deployment, industry size, end user and geography
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In 2020, the endpoint security solutions market segment is estimated to dominate the overall endpoint security market. The growing adoption of advanced technologies, such as IoT solutions, endpoint devices, and AI/ML solutions are driving the need for endpoint security solutions, in turn supporting the market growth.
Considering the rapid deployment of variety of connected devices across different business sectors, the demand for endpoint security solutions is expected grow to over the coming years as well, thereby registering the fastest growth in the endpoint security solutions segment throughout the forecast period.
Based on deployment type, the overall endpoint security market is mainly segmented into on-premises deployments and cloud deployments. On-premise solutions commanded a majority share of the endpoint security market, mainly due to greater control over security infrastructure offered by such solutions. However, with growing deployments, particularly in small and medium scale industries, the cloud deployments market is expected grow at the fastest CAGR during the forecast period of 2020 to 2027. The benefits of flexibility, agility, and scalability offered by cloud-based security solutions is one of the key factors driving the growth in this market segment.
On the basis of industry size, the overall endpoint security market is segmented into small & medium size enterprises and large enterprises. The large enterprises segment is estimated to command the largest share of the overall endpoint security market in 2020. However, with increasing deployment of IoT-enabled solutions, the small and medium scale enterprises segment is expected to grow at the fastest CAGR throughout the forecast period.
Based on the enforcement point, the endpoint security market is segmented into mobile devices, workstation, server, point of sale terminals, and others. The mobile devices segment is estimated to command the largest share of the overall endpoint security market in 2020.
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Geographically, the global end point security market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with a further analysis of major countries in these regions. North America region is estimated to hold the largest share of the global endpoint security market in 2020, followed by Asia-Pacific and Europe. The largest share of this region is mainly attributed to the presence of prominent players offering advanced endpoint security solutions and services across different sectors in the region, growing incidence of cyber security breaches, and wider acceptance of advanced technologies such as big data, cloud, and IoT among business enterprises in the region. The Asia-Pacific region is projected to grow at the fastest CAGR during the forecast period. The high growth rate is attributed to the growing significance of network security and privacy concerns among organizations in this region, developing internet and mobile infrastructure, and consistently growing threat of cyberattacks.
Endpoint security market is highly competitive in nature and the companies operating in this market always aim to keep their product offerings updated in line with customer expectations, and thereby maintain and enhance market share. Thus, new product launches and upgradation of existing products is a most preferred strategy adopted by key players in the market. Besides, partnerships, collaboration and strategic agreements between companies have also proved as effective strategy. These players help each other to match the ever-dynamic challenges in the field of endpoint security. Besides, geographic expansion, mergers and acquisition, and business expansion are few of the other strategies adopted by the leading players in endpoint security market.
The global endpoint security market is dominated by McAfee LLC (U.S.), Trend Micro (Japan), Sophos, Ltd. (U.K.), and Carbon Black Inc. (U.S.). The other players operating in the global endpoint security market are Check Point Software Technologies Ltd. (U.S.), IBM Corporation (U.S.), Fortinet Inc. (U.S.), FireEye Inc. (U.S.), Microsoft Corporation (U.S.), McAfee LLC (U.S.), Sophos Ltd. (U.K.), Carbon Black Inc.(U.S.), WatchGuard Technologies Inc. (U.S.), Panda Security (Spain), Cisco Systems Inc. (U.S.), Comodo Security Solutions (U.S.), Palo Alto Networks Inc. (U.S.), and F-Secure Corporation (Finland).
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