The endpoint security market size was dominated by North America in 2021 and is expected to retain its position during the forecast period.

PORTLAND, PORTLAND, OR, UNITED STATE, June 5, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Endpoint Security Market,” The endpoint security market was valued at $14.56 billion in 2021, and is estimated to reach $31.9 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.

Endpoint security is a critically important step in securing endpoint devices such as desktop computers, laptops, mobile devices, and others as this serves as entry to any structured network. Endpoint security technologies come with several advantages, including protection for weak services, network security for cloud and internet security, and improved data privacy and policy compliance. Endpoint security has grown significantly in importance over the past few years and has integrated itself into everyday living for people who own smartphones, computers, and other smart devices. Furthermore, organizations are now more vulnerable to risks like organized crime, malicious and unintentional insider threats, hacking activities, and rapid digitization across sectors.

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As the first line of defense in cybersecurity, endpoint security is extensively used. One of the first options that businesses look into for securing their corporate networks is this technology. Bring-your-own-device (BYOD) policies are anticipated to be implemented more frequently, which will spur market expansion. Moreover, developing endpoint solutions requires the use of cutting-edge technologies like the cloud, AI, the internet of things (IoT), linked devices, and others. The leading market players are developing cutting-edge security solutions in response to the growing product demand across numerous sectors. For instance, in October 2019, Symantec Corporation introduced an upgraded version of its endpoint solution to deliver advanced detection, protection, and response features in a single solution.

Market Opportunities:

1. Growing Demand for Securing IT Infrastructure in the Media and Entertainment Vertical: The increasing use of IT infrastructure in the media and entertainment industry is driving the demand for endpoint security solutions.

2. Rise in Demand for Integrated Endpoint Security Infrastructure and Software: The need for integrated endpoint security infrastructure and software to protect against sophisticated cyber threats is driving market growth.

3. Growing Demand for Cost-Effective Alternatives for On-Premises Security Deployment: The need for cost-effective alternatives to on-premises security deployment is driving the adoption of cloud-based endpoint security solutions.

4. Mitigation of IT Risks: The need to mitigate IT risks and protect against cyber threats is driving the demand for endpoint security solutions.

5. Increased Adoption of Data-Intensive Approaches and Decisions in Business Ecosystems: The increasing adoption of data-intensive approaches and decisions in business ecosystems through connected devices is driving the demand for endpoint security solutions

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The market is segmented based on component, deployment mode, organization size, end-user, and region.

Depending on the end user, the IT and telecom segment dominated the endpoint security market share in 2021 and is expected to continue this dominance during the forecast period, owing to increased usage of mobile devices among mass population. Moreover, security analysts, threat hunters, and IT professionals can assess and stop follow-on threats considerably and more swiftly owing to sophisticated analysis tools and capabilities of endpoint security tools. However, the healthcare segment is expected to witness the highest growth in the upcoming years, owing to enable safer, quicker and more convenient interaction between medical professionals and their medical assistants. Endpoint security is gaining popularity in the healthcare industry due to its increased end-to-end security about patient data, cost advantages, and user-friendly networking features.

The endpoint security market is segmented by component into solutions and services. Solutions include antivirus, anti-malware, firewall, endpoint detection and response (EDR), and endpoint protection platform (EPP). Services encompass managed services and professional services such as consulting, training, and support. The solutions segment holds the largest market share due to the high demand for advanced security solutions to protect against sophisticated cyber threats.

Based on deployment mode, the market is divided into on-premises and cloud-based. On-premises deployment involves installing security solutions within an organization’s own infrastructure, providing full control over data and security measures. Cloud-based deployment, on the other hand, offers flexibility, scalability, and cost-efficiency, making it increasingly popular among SMEs and large enterprises. The cloud-based segment is expected to grow at a faster rate due to the rising trend of cloud computing and remote working environments.

The market is also segmented by organization size into small and medium-sized enterprises (SMEs) and large enterprises. Large enterprises have traditionally been the major adopters of endpoint security solutions due to their extensive IT infrastructure and higher risk of cyber-attacks. However, SMEs are increasingly recognizing the importance of endpoint security, driven by the rise in targeted attacks and regulatory requirements. Consequently, the SME segment is projected to witness significant growth.

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Region-wise, the endpoint security market size was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to the increased number of connected devices in use that has also increased the security risks faced by organizations. However, Asia-Pacific is expected to witness the highest growth in the upcoming years, owing to rapid growth in technologies such as AI, IoT, connected devices, cloud services is attributed to the high demand for high endpoint device protection in Asia-Pacific. Key players in the Asia-Pacific region are adopting strategies such as acquisition and collaboration to improve endpoint security market analysis.

Key players profiled in endpoint security industry include 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. Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the endpoint security industry.

Recent Developments:

• In December 2023, G2 named Sophos a significant player for Endpoint Protection, EDR, XDR, Firewall, and MDR in their Winter 2024 Reports, which would fuel the company’s brand positioning to support its market growth in the future.

• In November 2023, SentinelOne announced a partnership with Pax8 to provide next-generation cybersecurity solutions that enable the protection of critical infrastructure and assets from end to end.

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