As per the report published by Fior Markets, The Endpoint Security Market is expected to grow from USD 13.53 billion in 2020 to USD 24.61 million by 2028, at a CAGR of 7.77% during the forecast period 2021-2028.
Endpoint security is a term used to describe the process of protecting all endpoints or devices linked to a network. The growing number of cyber-attacks and harmful threats worldwide has raised awareness of the importance of implementing endpoint protection. Organizations are becoming more vulnerable to cyber-attacks as more online solutions and platforms, such as the cloud, are used. Massive expenditures in the integration of effective endpoint security solutions will support market expansion. The use of technologies such as AI and IoT will result in a more significant global acceptance of products. Following that, the presence of numerous large-scale firms will support market expansion. In the future years, growing smartphone penetration combined with an increase in the number of interconnected networks will positively influence total market growth. In today’s contemporary world, mobile gadgets such as smartphones and tablets have become a need for individuals and businesses. The number of workers who use their cell phones for work is quickly rising, and mobile devices & applications have created a slew of new attack vectors and data security issues. These cyber dangers vary from Trojans and viruses to botnets and toolkits, and they can significantly jeopardize sensitive and private data by affecting the entire network.
Hackers can quickly obtain unauthorized access to mobile devices in business networks since they are no longer secure. As a result, businesses are increasingly using endpoint security solutions to safeguard their networks and offer fast access to confidential data to their employees. As a result, growing mobile and wireless device adoption, advancements in connection infrastructure throughout the world, and lowering mobile device prices are all expected to influence the endpoint security industry significantly.
During the COVID-19 epidemic, there has been a significant increase in email assaults. According to PWC research, cyber assaults in India more than quadrupled in the first three months of 2020. Similarly, throughout this period, endpoint assaults have had a substantial impact on the healthcare business. In the first half of 2020, the healthcare business recorded 49.1 percent of data breaches, according to the Fortified study. As a result, endpoint solutions are expected to become more popular.
Key players operating in the endpoint security market are Symantec, Kaspersky, Carbon Black, TrendMicro, Sophos, Microsoft, CrowdStrike, McAfee, SentinelOne, and ESET. To earn a significant market share in the endpoint security market, the key players now focus on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In April 2018, Cisco Systems, Inc. pledged to protect its clients from 20 billion threats every day. Endpoint security solutions are becoming more popular as a result of these fast detection and response options.
The mobile Devices segment dominated the market and held the largest market share of 32.95% in the year 2020
Based on enforcement points, the endpoint security market is segmented into Servers, Workstations, Mobile Devices, and Point of Sale terminals. The mobile devices enforcement point segment dominated the endpoint security market and held the largest market share of 32.95% in 2020. Endpoint assaults on mobile devices are rising in tandem with the increasing usage of smartphones and mobile applications, posing new security concerns for IT. As a result, businesses are increasingly using endpoint security solutions to safeguard their networks and offer secure access to confidential information to their employees. Furthermore, the rising trend of corporate organizations adopting bring your device (BYOD) rules, such as in the middle of the COVID-19 epidemic, is likely to boost the use of endpoint security solutions for mobile devices.
The cloud segment dominated the market and held the largest market share of 63.97% in the year 2020
Based on development, the endpoint security market is segmented into Cloud and on-premise. The cloud development segment dominated the endpoint security market and held the largest market share of 63.97% in 2020. Small and medium-sized enterprises are increasingly using cloud computing and storage solutions. Several businesses are migrating to cloud infrastructure, which is anticipated to accelerate in the coming years. The advantages of cloud infrastructure, such as simplicity of adoption, low in-house infrastructure requirements, scalability, and simple security solution installation, are only a few of the main drivers driving the market’s rapid expansion.