English Extended Distribution iCN Internal Distribution Press Release Reportedtimes Research Newswire

Endpoint Security Market earned USD 15.0 billion in 2021 and projected to reach USD 26.0 billion in 2029, growing at a CAGR of 7.1% | Size, Growth & Forecast

Endpoint Security Market size was valued USD 15.0 billion in 2021 and estimated to reach USD 26.0 billion in 2029, expanding at a CAGR of 7.1% over the period 2022-2029.

Endpoint Security Trends and Drivers

Primary factors driving endpoint security market are growing acceptance towards Bring Your Own Device (BYOD) concept, rise in the number of endpoint attacks around the world and increasing adoption of Internet of Things (IoT) connected devices. Companies worldwide are increasingly adopting BYOD in their workplace to save time, various operational expenses and to boost employee’s productivity. As per recent study, company which implementing BYOD concept in their workplace, are able to save around USD 350 annually, per employee. With the implementation of BYOD policies, the number of personal devices like smartphones, laptops and desktops has increased substantially at workplaces, which in turn has boosted the demand for end-point security solutions to protect these devices from different types of cyber threats.

Integration of advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) with endpoint security solutions and growing focus of organizations on setting risk management policies, are positively impacting the market growth. Major companies such as FireEye, Symantec, and Cisco Systems are already developing ML based endpoint security solutions for detecting unknown attacks at endpoints. However, insufficient availability of skilled workforce required for handling security systems is hampering the endpoint security market growth.

Based on Deployment, Cloud segment is projected to expand at a significant CAGR.

Cloud-based endpoint security solutions are gaining traction in the market as it is increases scalability, eliminates the requirement of IT staff for managing software and is cost-effective. Additionally, rise in the adoption of industry 4.0 practices and IoT enabled devices, is propelling the segment’s growth.  

End-Use Industry: Segment Analysis

Surge in the number of cyber-attacks in the healthcare industry, is accelerating the demand for endpoint security solutions. These solutions are increasingly used in healthcare companies to protect files from malware and improve end-point detection. 

Based on Region, North American region is projected to hold the largest endpoint security market share.

North American endpoint security market is driven by rise in the volumes of data generated across different industries, growing investments by enterprises in real-time security solutions and increasing number if cyber-attacks. As per Identity Theft Resource Center’s (ITRC) report, around 1862 cases of data breaches were reported across United States in 2021, which indicates an increase of 68% as compared to 2020, such trends are pushing enterprises in the country to endpoint security and other cyber security solutions. In addition, North American region is home to some of the leading vendors like Microsoft Corporation, IBM Corporation and Cisco Systems, Inc.

Top Market Players

Some of the major companies operating in the endpoint security market are Microsoft, Sophos Ltd, IBM, Trend Micro Incorporated, Bitdefender, F-Secure, Kaspersky Lab, Panda Security SL, ESET, Cisco, and IBM among others.

Key Developments:
• In February 2022, Check Point Software Technologies completed the acquisition of Spectral, a start-up based out of Israel, to expand its cloud security offerings.
• In March 2021, ESET, a major software company based in Slovakia introduced ESET PROTECT, an endpoint security management platform in the Indian market. This solution can be deployed on both cloud and on-premises mode and is capable of meeting the requirements of businesses of all sizes.
• In November 2019, Microsoft Corporation introduced Center Configuration Manager (ConfigMgr), which will help companies to manage huge number of devices that they have issued to their employees.
• In 2019, Trend Micro, a major IT security company based out of Japan introduced its endpoint security solution, XGen Endpoint Security, a comprehensive endpoint security designed to provide protection against different types of threats.

Market Segmentation

Segmentation by Solution

o Firewall
o Antivirus
o Application Control
o Mobile Device Security (MDS)
o Encryption Technologies
o Others

Segmentation by Deployment Mode
o On-Premises
o Cloud

Segmentation by End-Use Industry
o IT & Telecom
o BFSI
o Industrial
o Education
o Retail
o Medical
o Others

Segmentation by Region
Asia Pacific
o China
o Japan
o India
o Rest of APAC
North America
o United States of America
o Canada
Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and businesss decisions.

Our Related Reports:

Chatbot Market

Tags: , ,

See Campaign: https://www.gmiresearch.com/report/endpoint-security-market-share-analysis-industry-research/

Contact Information:

Media Contact Company Name: GMI RESEARCH Contact Person: Sarah Nash Email: [email protected] Phone: Europe – +353 1 442 8820; US – +1 860 881 2270 Address: Dublin, Ireland Website: https://www.gmiresearch.com/


Tags:
Reportedtimes, iCN Internal Distribution, Extended Distribution, Research Newswire, English