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The endpoint security market size is estimated to grow at a CAGR of 16.99% between 2022 and 2027. The market size is forecast to increase by USD 12,762.74 million. The growth of the market depends on several factors, including the emergence of enterprise mobility and BYOD policy among enterprises, the increasing incidence of cyberattacks, and stringent regulations regarding data protection. Endpoint security refers to systems that include software, applications, cloud services, and hybrid solutions to secure the various endpoints or entry points of end-user devices such as mobile devices, laptops, and desktops on a network. Endpoint security systems protect these endpoints from malicious activities and cybersecurity threats on a network or on the cloud.
This endpoint security market report extensively covers market segmentation by deployment (on-premises and cloud-based), end-user (large enterprises, and small and medium-sized enterprises (SMEs)), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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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 security 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 security 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 security software to protect endpoints and against attacks via BYOD devices. Therefore, the raised adoption of endpoint security software by enterprises can fuel the growth of the global endpoint security 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 endpoint security 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 security personnel are needed. with the attacker's tools, techniques, and procedures (TTP) to perform behavioral matching.
Besides, another challenge faced by integrating advanced security solutions within a company is the lack of skilled manpower. According to the nonprofit IT security 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 regarding endpoint security 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 3,762.19 million in 2017 and continued to grow by 2021. 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 endpoint security due to its advantages, such as performance, affordability, security, enterprise-class scalability, and easily managing shared sensitive information, including documents, passwords, and digital identities. Endpoint security also helps large enterprises control and manage cyber risks. Large enterprises with increasingly complex IT environments need endpoint security providers to manage access requests for on-premises and cloud applications. As a result, players provide endpoint security solutions for these large enterprises. Hence, this will lead to an increase in the demand for endpoint security 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 elaborately explained the regional trends and drivers that shape the market during the forecast period. Rising demand for cybersecurity 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 endpoint security market in North America.
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 North American endpoint security market during the forecast period.
The region was adversely affected by the COVID-19 pandemic in 2020, which led to the temporary closure of several commercial spaces, such as offices and retail outlets. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions, which led to rising demand for endpoint security solutions. Furthermore, since many organizations are offering a permanent work-from-home policy to their employees, the endpoint security market in the region is expected to grow during the forecast period.
The Endpoint Security Market report includes the adoption lifecycle of the market, 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 growth strategies.
Global Endpoint Security 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.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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 endpoint security market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Endpoint Security Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.99% |
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Market growth 2023-2027 |
USD 12,762.74 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
16.19 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 45% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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