AMR Report Says: Endpoint Security Market to Witness Steady Growth Amidst Cyber Risks
Increased use of bring-your-own devices (BYOD) and several connected devices primarily drive the growth of the endpoint security market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 10, 2024 /EINPresswire.com/ — A recent report by Allied Market Research, titled “Endpoint Security Market,” reveals that the market for endpoint security was valued at $14.56 billion in 2021 and is forecasted to reach $31.9 billion by 2031, marking a steady growth rate of 8.4% from 2022 to 2031.
Endpoint security stands as a crucial measure in safeguarding devices such as desktops, laptops, and mobile devices, serving as the primary entry point to any structured network. This technology offers various advantages, including shielding weak services, ensuring network security for cloud and internet systems, and enhancing data privacy and policy adherence. The significance of endpoint security has notably increased in recent years, becoming an integral part of daily life for individuals using smartphones, computers, and other smart devices.
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Additionally, organizations face heightened vulnerabilities such as organized crime, insider threats (both malicious and unintentional), hacking incidents, and the swift digitalization observed across sectors. Given its role as the primary cybersecurity defense, endpoint security is widely adopted, often being the initial choice for businesses seeking to secure their corporate networks. The rise of Bring-your-own-device (BYOD) policies is expected to drive market growth further.
Furthermore, the development of endpoint solutions necessitates the use of advanced technologies like cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and interconnected devices, among others. Leading market players are actively innovating cutting-edge security solutions in response to the rising demand across various sectors. For instance, in October 2019, Symantec Corporation launched an upgraded version of its endpoint solution, offering advanced detection, protection, and response capabilities within a single solution.
Factors such as increased use of bring your own devices (BYOD) and rise in number of connected devices drive the growth of the endpoint security market. However, lack of skilled workers hampers market growth to some extent. Moreover, the increase in adoption of AI enabled automated responses is expected to provide lucrative opportunities for market growth during the forecast period.
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𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐤𝐞𝐲 𝐭𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐞𝐧𝐝𝐩𝐨𝐢𝐧𝐭 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐦𝐚𝐫𝐤𝐞𝐭:
• Zero Trust Architecture (ZTA): Zero Trust has become a foundational principle in modern cybersecurity. It assumes that threats could be both external and internal, so no entity, user, or system should be trusted by default, even if they are inside the organization’s network perimeter. This approach is driving the adoption of technologies like micro-segmentation, identity and access management (IAM), and multi-factor authentication (MFA) in endpoint security.
• Cloud-Based Endpoint Security: With the increasing adoption of cloud services and remote work, the demand for cloud-based endpoint security solutions is on the rise. These solutions offer centralized management, real-time updates, and scalability. They also provide better protection for devices outside the traditional network perimeter.
• AI and Machine Learning: AI and machine learning are playing a crucial role in endpoint security. These technologies enable security solutions to detect and respond to threats in real time by analyzing vast amounts of data to identify patterns and anomalies. This helps in threat hunting, malware detection, and behavior-based analysis.
• Evolving Threat Landscape: Cyber threats continue to evolve, becoming more sophisticated and targeted. Ransomware, fileless malware, and supply chain attacks are some of the prominent threats facing organizations. Endpoint security solutions are adapting by incorporating advanced threat detection and response capabilities to combat these threats effectively.
• IoT Security: The proliferation of Internet of Things (IoT) devices presents a new challenge for endpoint security. These devices often have limited security features, making them vulnerable to exploitation. Endpoint security solutions are now extending their capabilities to cover IoT devices, ensuring comprehensive protection across all endpoints.
By solution type, the endpoint protection platform segment held the major share in 2021, garnering more than two-third of the global endpoint security market revenue. The endpoint detection and response segment would also showcase the fastest CAGR of 10.4% during the forecast period, owing to real-time continuous monitoring and gathering of endpoint data with rules-based automated reaction and analysis capabilities.
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By industry vertical, the IT and telecom segment accounted for more than one-fifth of the global endpoint security market share in 2021. The healthcare segment would also display the fastest CAGR of 10.2% throughout the forecast period, owing to enable safer, quicker and more convenient interaction between medical professionals and their medical assistants.
Depending on end user, the IT and telecom segment dominated the endpoint security market share in 2021 and is expected to continue this dominance during the forecast period, owing to increased usage of mobile devices among mass population. Moreover, security analysts, threat hunters, and IT professionals can assess and stop follow-on threats considerably and more swiftly owing to sophisticated analysis tools and capabilities of endpoint security tools. However, the healthcare segment is expected to witness the highest growth in the upcoming years, owing to enable safer, quicker and more convenient interaction between medical professionals and their medical assistants. Endpoint security is gaining popularity in the healthcare industry due to its increased end-to-end security about patient data, cost advantages, and user-friendly networking features.
By region, North America garnered the highest share in 2021, holding more than one-third of the global endpoint security market revenue in 2021, and is projected to retain its dominance by 2031. The Asia-Pacific region would also portray the fastest CAGR of 10.7% during the forecast period, owing to rapid growth in technologies such as AI, IoT, connected devices, cloud services is attributed to the high demand of high endpoint device protection in Asia-Pacific.
Leading Market Players-
• Microsoft Corporation
• CrowdStrike
• Check Point Software Technologies Ltd.
• Cisco Systems Inc.
• Trend Micro Incorporated
• Broadcom
• AO Kaspersky Lab
• SentinelOne
• McAfee, LLC
• Comodo Security Solutions, Inc.
The report analyzes these key players in the global endpoint security market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
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