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The endpoint security market size is forecast to increase by USD 18.49 billion, at a CAGR of 19.98% between 2023 and 2028. Market growth hinges on diverse factors like the rise of enterprise mobility and BYOD policies in businesses, amplifying connectivity and productivity. Simultaneously, the surge in cyberattacks highlights the critical need for robust security measures, driving demand for cybersecurity solutions. Moreover, stringent data protection regulations, especially with evolving privacy laws, underscore the necessity for comprehensive compliance strategies. These dynamics foster an environment where businesses prioritize technological resilience and data protection, propelling investments in cybersecurity technologies and services. As businesses navigate the complexities of digital transformation, the interplay of mobility, protection, and regulatory compliance becomes paramount in shaping market trends and driving innovation in cybersecurity solutions.
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The market is driven by advanced security solutions and frontline solutions combating escalating cyber threats like cyberattacks, Ransomware, and Phishing. Organizations rely on Cyber Security protocols and solutions like FortiXDR and Adaptive Protection to safeguard sensitive data. Emerging trends include leveraging emerging technologies such as cloud and ARIMA for robust IT security. Challenges persist in managing internal data securely and addressing evolving cybersecurity landscapes, necessitating compliance with Data Security Standards like PAQSA amidst varying GDP and internet penetration dynamics.
The emergence of enterprise mobility and BYOD policy among enterprises is the key driver for the growth of the market. Enterprise mobility and BYOD policies provide many benefits to employees, including working remotely using their devices. Although, there are protection issues associated with this policy. When employees work remotely, they access the corporate network or applications through the cloud. Mobile devices can become infected with malware through the Internet network, and the use of external storage devices such as USB drives and memory cards. To prevent malware and cyberattacks, companies are adopting endpoint solutions.
For instance, Ceragon Networks Ltd., a wireless backhaul provider, was having trouble to managing the rapidly growing BYOD usage due to shortcomings in its current mobile device management (MDM) solution. The company has chosen Symantec Endpoint Protection Mobile to enforce mobile security policies across all devices, including BYOD, in its organizations. Enterprises are adopting endpoint software to protect endpoints and against attacks via BYOD devices. Therefore, the raised adoption of endpoint software by enterprises can fuel the growth of the global market during the forecast period.
Strategic partnerships and acquisitions among players are the primary trend in the market. Competition among existing suppliers in the market is fierce. Market players enter into strategic partnerships and acquisitions with market participants, including endpoint security solutions providers, technology service providers, and platform providers. Strategic partnerships and acquisitions help suppliers to expand geographically and provide access to technology expertise.
Additionally, the acquisitions will allow suppliers to explore potential markets and generate revenue from a broader customer base. For example, in March 2020, WatchGuard Technologies, a provider of network security, Wi-Fi security, and multi-factor authentication, announced its intention to acquire Panda Security, an endpoint platform provider. The growing number of strategic partnerships, acquisitions, and collaborations among market participants is expected to propel the growth of the global market during the forecast period.
Lack of skilled labor and knowledge about internal and external threats is a significant challenge that affects the growth of the market. The growing volume of sensitive data, such as financial transaction data, health records, and business-related data, is raising cybersecurity concerns. The number of cyberattacks has increased by 38% in 2022 compared to 2021. With the changing cybersecurity landscape, advanced proactive hunting solutions and familiar experienced protection personnel are needed. with the attacker's tools, techniques, and procedures (TTP) to perform behavioral matching.
Besides, another challenge faced by integrating advanced solutions within a company is the lack of skilled manpower. According to the nonprofit IT organization (ISC)2, by 2022, the world will be short of 3.4 million cybersecurity professionals. According to cybersecurity experts (ISC)2, organizations have limited expertise in advanced security solutions and insufficient knowledge of evolving threats. As a result, the changing nature of cyberattacks and data theft, lower threat awareness, and limitations may hinder the growth of the market during the forecast period.
The market share growth by the on-premises segment will be significant during the forecast period. In the on-premises deployment model, the hardware and software are dedicated to the enterprise and managed by on-premises service providers or in private data centers. The main advantage of the on-premises deployment model is that it gives the business complete control over the operation of the hardware and software.
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The on-premises segment showed a gradual increase in the market share of USD 4.28 billion in 2018. In an on-premises deployment model, resources are only accessible through dedicated servers for customers, unlike in a cloud-based deployment model, where resources are accessed by multiple people, making them more vulnerable to security breaches. Symantec, Kaspersky, Sophos, and McAfee are some of the providers of on-premises endpoint solutions. Cloud-based solutions are associated with security concerns, which will drive the adoption of on-premises solutions, especially in industries like BFSI and healthcare, which process handle sensitive customer information. Thus, these factors are expected to drive the growth of the spot segment in the market during the forecast period.
Large enterprises are expected to increase the adoption of this solution due to its advantages, such as performance, affordability, enterprise-class scalability, and easily managing shared sensitive information, including documents, passwords, and digital identities. It also helps large enterprises control and manage cyber risks. Large enterprises with increasingly complex IT environments need providers to manage access requests for on-premises and cloud applications. As a result, players provide solutions for these large enterprises. Hence, this will lead to an increase in the demand for these solutions among large enterprises and thus drive the growth of the market during the forecast period.
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North America is estimated to contribute 45% to the growth of the global market during the forecast period.
Technavio's analysts have provided an extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Rising demand for these solutions and the rising adoption of the BYOD policy and IoT-based devices, and the growing instances of cyberattacks and data theft in enterprises are the key factors driving the growth of the market.
Moreover, the region is seeing digital transformation accelerating in the BFSI, healthcare, IT, and retail sectors. This digital transformation supports the adoption of cutting-edge technologies and solutions such as IoT, AI, and cloud computing. Furthermore, the presence of leading players in this region, such as Cisco Systems Inc., Broadcom Inc., Microsoft Corp., CrowdStrike Inc., Fortinet Inc., VMware, Inc., McAfee LLC, and Palo Alto Networks, is expected to boost the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BlackBerry Ltd.: The company offers endpoint security such as CylanceENDPOINT.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Market is witnessing dynamic growth driven by several key factors. With entry points becoming increasingly diverse, including internal data and various endpoint devices, the need for robust security measures has never been higher. Advanced solutions like FortiXDR and Adaptive Protection are at the forefront, employing Artificial Intelligence (AI) and Machine Learning (ML) to combat evolving threats such as viruses, email attacks, and zero-day attacks.
Moreover, the Market is experiencing a rapid evolution fueled by emerging technologies and the need for advanced solutions. As organizations navigate complex networking environments and combat network attacks and vulnerabilities, solutions like frontline solutions and AI-powered mechanisms are gaining prominence. With the proliferation of Internet of Things (IoT) devices and advanced connected devices in sectors like transportation and large organizations, ensuring cybersecurity has become paramount. Automated Responses and trigger alerts enable swift action against malware attack samples and phishing attempts, safeguarding data security standards and regulatory compliance like VAT regulations.
Furthermore, in an era marked by digitalization and the proliferation of connected devices like smart sensors and industrial control systems, cybersecurity has become paramount across diverse industries ranging from B2C to B2G. Organizations, especially large enterprises, are investing heavily in managed services and expert services to bolster their network security and data protection. The market landscape depends on advanced security solution, frontline solution, Retail sector, Data Security Standard. However, challenges persist, including the Shortage of Skilled Labor and the need for digital skills training. Additionally, unknown cyberattacks and ransomware threats continue to pose risks, necessitating a proactive approach to endpoint security. As the cloud segment gains prominence and commercial and enterprise players seek ease of implementation in security solutions, the Market is poised for sustained growth, ensuring cyber resilience in an increasingly interconnected digital landscape.
Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.98% |
Market growth 2024-2028 |
USD 18.49 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
17.24 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 45% |
Key countries |
US, China, UK, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AO Kaspersky Lab, BlackBerry Ltd., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., CrowdStrike Holdings Inc., ESET Spol Sro, F Secure Corp., Fortinet Inc., Malwarebytes Inc., McAfee LLC, Microsoft Corp., Musarubra US LLC, Palo Alto Networks Inc., SC BITDEFENDER SRL, SENTINELONE INC., Sophos Ltd., Trend Micro Inc., VMware Inc., and WatchGuard Technologies Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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