Endpoint Security Market

The global endpoint security market size was valued at nearly USD 12.46 Billion in 2022 and is anticipated to reach USD 28.20 Billion by 2031, expanding at a CAGR of 9.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the emerging trend of bringing your own device (BYOD) at work across organizations.

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Endpoint security is the process of safeguard entry points or endpoints of client devices, such as mobile devices, desktops, and laptops from being attacked by risky activity and malicious attack. The system guard these endpoints on a network or in the cloud from cyber-security threats. This system acts as center of access to an organizations network and make points of entrance that can be exploited by malicious actors.

Endpoint security software uses application control and encryption to secure devices accessing the enterprise network, thus improved governing over security on those avenues of access to monitor and block hazardous activities. The system offer various benefits to the organization, including data security, security management, and improved business flexibility.

The COVID-19 pandemic outbreak had positive impact on the market. During the pandemic, emergency lockdown imposed by government bodies resulted in implementation of work from policy by organization this has increased the risk of endpoint devices getting infected with virus. Thus, the shift towards remote working has forced organizations to implement endpoint security system. Additionally, endpoint security system is adopted by healthcare sector due to endpoints attack during the pandemic.

Endpoint Security Market Trends, Drivers, Restraints, and Opportunities

• Rising need of advanced end-point security solutions to safeguard sensitive business information from organization is one of the key factors driving the market growth.
• Increasing adoption of cloud and cloud-based service from enterprises is projected to boost the market during the forecast period.
• Growing enterprise inclination towards the free endpoint security solutions acts as a major challenge that can restrict the market growth in the coming years.
• Lack of skilled technical professional to maintain this system is expected to hamper the market growth during the projected timeline.
• Surging adoption of these solutions for security of virtual & container workloads and on-premises servers in private or public cloud environments is anticipated to create significant growth opportunities for the market.

Scope of the Endpoint Security Market Report

The report on the global endpoint security market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Endpoint Security Market Segment Insights

Reduced cost drives the cloud segment growth rate

In terms of deployment, the global endpoint security market is bifurcated into cloud and on-premise. The cloud segment is estimated to expand at robust growth rate during the forecast period due to it enables organization to reduce their operational cost as no hardware set-up is required.

Furthermore, the cloud- based security solutions does not require high maintenance and offer several benefits, which is major driver of the segment. However, the on-premise segment is anticipated to expand at a substantial CAGR in the coming years attributed to the organization choice to keep their data on their premises.

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BFSI segment to register a high CAGR

On the basis of applications, the market is segregated into medical, education, BFSI, retail, industrial, IT & telecom, and others. The BFSI segment is projected to register at high CAGR in the projected timeline owing to increasing data breaches in the banking and rise in need to protect customer data safety.

On the other hand, the medical segment is anticipated to register a substantial CAGR during the forecast period attributed to increasing adoption of endpoint security solution to protect internet-connected healthcare products from hacking. Moreover, the segment growth is further accelerated as healthcare sector is most vulnerable to attacks as safety measures are inadequate.

Critical information over network drives the antivirus segment

Based on solutions, the global endpoint security market is divided into encryption technologies, ID/IP, antivirus, mobile device security (MDS), application control, firewall, and others. The antivirus segment is expected to grow at a rapid pace during the forecast period due to the antivirus software reduces the probability of the endpoint getting infected by the threats, including rootkits, worms, Trojans, spyware, viruses, adware, and key loggers.

Additionally, increase in critical information over the network is driving the segment growth further. However, the MDS segment is anticipated to expand at a substantial CAGR in the coming years owing to increasing proliferation of mobile devices and BYOD.

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Increased adoption expand the large enterprise segment growth rate

On the basis of organization sizes, the market is bifurcated into small & medium enterprises and large enterprises. The large enterprise segment is projected to expand at substantial growth rate during the forecast period owing to rise in spending capacity on security solutions and need to upgrade their existing security solutions for better data safety.

On the other hand, the small & medium enterprises segment is anticipated to grow at robust growth rate in the near future attributed to the rising data breaches in these organizations leading to the adoption of endpoint security services.

Regional Analysis

In terms of region, the global endpoint security market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to the high proliferation of internet service and mobile phones along with the presence of key global players in the region. However, the market of Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to the rising adoption of cloud computing and BYOD by enterprises in the region.

Segments

The global endpoint security market has been segmented on the basis of

Deployment

• Cloud
• On-premise

Applications

• Medical
• Education
• BFSI
• Retail
• Industrial
• IT & Telecom
• Others

Solutions

• Encryption Technologies
• ID/IP
• Antivirus
• MDS
• Application Control
• Firewall
• Others

Organization Sizes

• Small & Medium Enterprises
• Large Enterprises

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• AO Kaspersky Lab
• IBM Corp.
• Trend Micro Inc.
• F-Secure Corp.
• Microsoft Corp.
• Sophos Ltd.
• McAfee, LLC
• Bitdefender
• Broadcom (Symantec Corp.)

Competitive Landscape

Key players competing in the global endpoint security market share are AO Kaspersky Lab; IBM Corp.; Trend Micro Inc.; F-Secure Corp.; Microsoft Corp.; Sophos Ltd.; McAfee, LLC; Bitdefender; and Broadcom (Symantec Corp.). Companies are focusing on rapid technological advancements in endpoint security solution to maintain their competitive position in the market. Furthermore, companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers. For instance,
 

• In May 2019, Microsoft announced a launch of its endpoint manager, which includes both Intune abilities and configuration manager, along with supplementary Microsoft services and products. The endpoint benefits to companies for maintenance of extensive range of devices used among their staff members.

• In November 2019, Symantec’s enterprise security business was acquires by Broadcom, a global technology provider of infrastructure software solutions and semiconductor. The merger of Symantec’s enterprise security portfolio with Broadcom’s existing solution portfolio markedly boosts Broadcom’s infrastructure software footprint.