Endpoint Detection and Response Market Scenario Highlighting Major Drivers & Growth Forecast – 2031
Increasing use of BYOD in the business and rising cyber-attacks are driving the endpoint detection and response market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, October 11, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Endpoint Detection and Response Market Scenario Highlighting Major Drivers & Growth Forecast – 2031 .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Increase in use of cloud-based endpoint detection and response for safety and security reasons and penetration of cloud-based technologies have boosted the growth of the global endpoint detection and response market. Moreover, governments have focused on increasing investment in IT operations for various industries, which allows businesses to adopt new solutions and services streamline their business operations. This will open new opportunities in the future.
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By industry vertical, the retail segment is expected to register the highest CAGR of 31.7% during the forecast period, due to increasing use of mobile devices among individuals. However, the retail segment is expected to hold the largest share in 2021, contributing to more than one-fifth of the global endpoint detection and response market, as EDR solutions offer flexibility and security in workplace from malware functions in real estate.
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By component, the solution segment held the largest share in 2021, accounting for more than two-thirds of the global endpoint detection and response market, as they offer benefits such as improving detection and response to cyber incidents. However, the services segment is expected to register the highest CAGR of 26.4% during the forecast period, owing to creased business competition, legislation, user needs, and project risks.
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By region, the global endpoint detection and response industry across North America dominated the market in 2021, holding more than two-fifths of the market, due to increased use of endpoint detection and response in forensic, government, and banking & finance for security purposes to improve businesses and customer experience. However, the market across Asia-Pacific is expected to register the highest CAGR of 28.4% during the forecast period, owing to presence of robust IT infrastructure and solid software and services.
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Covid-19 Scenario:
• The Covid-19 pandemic triggered social stress and led to economic disruption across the world. However, it positively affected the adoption of endpoint detection and response.
• Moreover, companies are focused on advanced technologies such as AI-powered solutions, computing technology, automation, and cloud-based EDR across various industries such as healthcare, BFSI, and government.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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