How much is the Endpoint Security market worth?
According to the report, global demand for endpoint security market was valued at approximately USD 9.31 Billion in 2019 and is expected to generate revenue of around USD 18.27 Billion by end of 2027, growing at a CAGR of around 7.8% between 2020 and 2027.
What is Endpoint Security?
The growth of the endpoint security market is due to the proliferation of connected devices, such as tablets, smart phones, and network devices, which support their networking requirements in several industry verticals. In 2016, as per the Symantec's Threat Report, the company blocked an average of over 230,000 network attacks on endpoint computers each day with more than 360 million malware variants detected globally in 2016. Traditional security endpoint solutions are not successful against rapidly emerging new threats such as WannaCry, APT, and DDoS attacks due to which the adoption of endpoint security solutions as increased, integrating machine learning technologies to allow for real-time detection and threat mitigation.
Besides, it is anticipated that the evolving BYOD definition across organizations will also drive the market in the forecast period. With BYOD's growing acceptance, employees can now access corporate data of their organization on their personal mobile devices. This creates security and management challenge which requires advanced security endpoint solutions to protect sensitive business information. Several vendors like FireEye, McAfee, and Sophos are developing creative solutions to meet the rising demand for security on mobile devices. The global market is highly competitive and is characterized by continuous, rapid developments in technology and changing standards. The key growth strategies implemented by leading players operating in the industry are mergers & acquisitions and strategic alliances.
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What are Endpoint Security market's key drivers?
¢ Higher Costs Accrued Due to Endpoint Attacks
¢ Increasing Number of Endpoint and BYOD Among Enterprises
¢ Mitigation of IT Risks
¢ Centrally Managed Protection and Administration
¢ Rising Endpoint Attacks and Breaches
Segmentation Analysis:
How much market share of Endpoint Security was held by solutions segment in 2019?
The global market for the endpoint security is segmented into component, deployment, industry vertical, organization size, and region. Based on component, the market is segmented into solution, and services. The solution market is further segmented into endpoint protection platform (EPP), and endpoint detection and response (EDR). The services market is further divided into professional services, and managed services. The professional services are further segmented into integration and implementation, training and consulting, and support and maintenance. The solutions segment held major share of the market in 2019 with almost 70%. As endpoint security software includes next-generation firewall, and endpoint application management anti-virus solutions these are gradually deployed. Mobile threat management solutions, for instance offer continuous security for mobile devices, and provide enforcement controls to ensure compliance for employees and their apps.
How much market share of Endpoint Security was held by deployment segment in 2019?
Based on deployment, the market is categorized into on-premise, and cloud-based. The market for on-premise held almost 51% share of the market in 2019; however, the market for cloud-based solutions is likely to grow at high CAGR in the forecast period. Organizations generally favor this deployment model, because it gives them complete control over protecting their network infrastructure from insider and outsider attacks. They should ensure mission-critical applications are still up and running.
How much market share of Endpoint Security was held by organization size segment in 2019?
Based on the organization size, the global market for endpoint security is segmented into large organizations, and small & medium sized (SMEs) organizations. From this, large organizations market accounted for almost 73% share in 2019. It is expected that the need to update the current threat protection is accelerating the growth of endpoint security services in large companies. SMEs' inability to outsource security services to third parties restricts the adoption of such services in small and medium sized organizations.
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Regional Analysis:
Which region is predicted to have the largest share in the Endpoint Security market?
On the basis of region, the market is divided into North America, Asia Pacific, Europe, Latin America and Middle East & Africa. North America held almost 40% share of the overall market since internet access and cell phones are rapidly proliferating. In addition, these regions are home to a significant number of main players providing innovative solutions to different markets, including transportation, BFSI, and healthcare. Asia Pacific, Latin America's and MEA emerging markets are expected to show high growth, mainly due to increased mobility in these countries.
Which are the prominent Endpoint Security Key Players across the globe?
Major players in endpoint security market are TrendMicro (Japan), Cylance (U.S.), F-Secure (Finland), Carbon Black (U.S.), Sophos (U.K.), Comodo (U.S.), Kaspersky (Russia), Check Point Software (Israel), FireEye (U.S.), and Endgame (U.S.) among others.
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