Global endpoint security market is being propelled by an increase in the adoption of bring your own devices (BYOD) and a growing number of connected devices.

PORTLAND, PORTLAND, OR, UNITED STATES, April 29, 2024 /EINPresswire.com/ -- As per the report findings, the endpoint security market size achieved a revenue of $14.6 billion in 2021, with projections indicating it could surge to $31.9 billion by 2031, marking a notable Compound Annual Growth Rate (CAGR) of 8.4% from 2022 to 2031. The report provides an extensive examination of evolving market trends, prominent segments, significant investment opportunities, value chains, regional dynamics, and competitive landscapes.

The growth of the endpoint security market is propelled by factors like the expanding use of bring-your-own devices (BYOD) and the proliferation of connected devices. Yet, market expansion is hindered to some degree by the scarcity of skilled workers. Nevertheless, the surge in AI-enabled automated responses adoption is anticipated to offer promising prospects for market growth in the foreseeable future.

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Endpoint security stands as a crucial measure in safeguarding endpoint devices, such as desktop computers, laptops, and mobile devices, serving as the gateway to any structured network. It offers several benefits, including fortifying weak services, enhancing network security for cloud and internet usage, and bolstering data privacy and compliance with policies. Over recent years, the significance of endpoint security has surged, becoming ingrained in the daily lives of individuals who own smartphones, computers, and other smart gadgets.

Additionally, organizations face heightened vulnerabilities to risks such as organized crime, insider threats—both intentional and unintentional—hacking endeavors, and the swift digitization spanning various sectors. As the primary defense line in cybersecurity, endpoint security is widely employed, often being the initial choice for businesses aiming to secure their corporate networks. The adoption of bring-your-own-device (BYOD) policies is expected to escalate, thereby propelling market growth.

Furthermore, the development of endpoint solutions necessitates leveraging advanced technologies like the cloud, artificial intelligence (AI), the Internet of Things (IoT), interconnected devices, and others. Key market players are actively crafting state-of-the-art security solutions to meet the escalating demand across diverse sectors.

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In 2021, the large enterprise sector dominated the global endpoint security market, accounting for over three-fifths of the total revenue. The small and medium-sized enterprises (SMEs) segment is expected to witness the fastest compound annual growth rate (CAGR) of 10.1% during the forecast period, driven by the increasing number of SMEs in the Asia-Pacific region, particularly in China, Japan, and India.

In terms of solution types, the endpoint protection platform segment captured the majority share of the market revenue in 2021, accounting for over two-thirds. However, the endpoint detection and response segment are projected to experience the fastest CAGR of 10.4% during the forecast period, fueled by its capabilities for real-time continuous monitoring, data gathering, and automated reaction and analysis.

Regarding industry verticals, the IT and telecom sector held over one-fifth of the global endpoint security market share in 2021. The healthcare segment is anticipated to demonstrate the fastest CAGR of 10.2% throughout the forecast period, driven by the need for safer and more efficient interactions among medical professionals and their assistants.

In terms of deployment modes, the on-premise segment dominated the market in 2021, capturing approximately two-thirds of the total revenue. However, the cloud segment is forecasted to exhibit the fastest CAGR of 10.3% during the forecast period, owing to its flexibility and financial benefits.

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Regionally, North America led the market in 2021, accounting for more than one-third of the total revenue and is expected to maintain its dominance through 2031. The Asia-Pacific region is set to witness the fastest CAGR of 10.7% during the forecast period, attributed to the rapid adoption of technologies like AI, IoT, connected devices, and cloud services, driving the demand for enhanced endpoint device protection.

Key players in the endpoint security industry, including Microsoft Corporation, CrowdStrike, Check Point Software Technologies Ltd., Cisco Systems Inc., Trend Micro Incorporated, Broadcom, AO Kaspersky Lab, SentinelOne, McAfee, LLC, and Comodo Security Solutions, Inc., have implemented various strategies such as product launches, collaborations, partnerships, joint ventures, and acquisitions to expand their market presence.

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 is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

Impact of Covid-19:

The global impact of the COVID-19 pandemic has been notably adverse, affecting various countries and industries worldwide. Measures such as complete lockdowns, social isolation, and quarantine have significantly impacted sectors, including segments of the IT security industry. With remote work and online education becoming prevalent, enterprise virtual private network (VPN) servers became crucial, exposing businesses to heightened cyber risks due to rapid adoption and novel threats such as fraudulent COVID-19 websites seeking personal data. Consequently, there has been a surge in attacks on corporate emails. As a response, organizations have increasingly turned to endpoint security solutions to ensure security amidst remote work setups and social distancing protocols. This shift has also spurred the rapid growth of cloud infrastructure and services, expanding the market's active device base and driving the adoption of endpoint security solutions.

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