Surge in use of bring your own devices (BYOD) and rise in number of connected devices drive the growth of the global endpoint security market.

PORTLAND, OR, UNITED STATES, October 1, 2024 /EINPresswire.com/ -- According to the report, the global endpoint security market size generated $14.6 billion in 2021, and is estimated to reach $31.9 billion by 2031, witnessing a CAGR of 8.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Factors such as increased use of bring your own devices (BYOD) and rise in number of connected devices drive the growth of the endpoint security market. However, lack of skilled workers hampers market growth to some extent. Moreover, the increase in adoption of AI enabled automated responses is expected to provide lucrative opportunities for market growth during the forecast period.

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By industry vertical, the IT and telecom segment accounted for more than one-fifth of the global endpoint security market share in 2021. The healthcare segment would also display the fastest CAGR of 10.2% throughout the forecast period, owing to enable safer, quicker and more convenient interaction between medical professionals and their medical assistants.

By deployment mode, the on-premise segment held the major share in 2021, garnering around two-thirds of the global endpoint security market revenue. The cloud segment would also showcase the fastest CAGR of 10.3% during the forecast period, owing to the flexibility and financial advantages that come with cloud services.

By enterprise size, the large enterprise segment held the major share in 2021, garnering more than three-fifths of the global endpoint security market revenue. The small and medium-sized enterprises (SMEs) segment would also showcase the fastest CAGR of 10.1% during the forecast period, owing to a surge in the number of SMEs in Asia-Pacific's region, including China, Japan, and India.

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By solution type, the endpoint protection platform segment held the major share in 2021, garnering more than two-third of the global endpoint security market revenue. The endpoint detection and response segment would also showcase the fastest CAGR of 10.4% during the forecast period, owing to real-time continuous monitoring and gathering of endpoint data with rules-based automated reaction and analysis capabilities.

By region, North America garnered the highest share in 2021, holding more than one-third of the global endpoint security market revenue in 2021, and is projected to retain its dominance by 2031. The Asia-Pacific region would also portray the fastest CAGR of 10.7% during the forecast period, owing to rapid growth in technologies such as AI, IoT, connected devices, cloud services is attributed to the high demand of high endpoint device protection in Asia-Pacific.

Covid-19 scenario-

Complete lockdown, social isolation, and quarantine, and other pandemic response tactics had a negative effect on several global industries, including a portion of the IT security sector. Early in 2021, the COVID-19 outbreak's impacts on the global endpoint security market were felt majorly in China, as it is one of the world's top producers and consumers of endpoint devices like smartphones, PCs, and tablets.

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Challenges:

The market faces challenges such as:

1. Lack of Skilled Workers: A shortage of qualified professionals can hinder effective implementation.

2. Security Concerns with BYOD: Many organizations do not adequately protect employee-owned devices, increasing vulnerability.

Recent Developments

1. Government Initiatives: For example, Israel's collaboration with the Inter-American Development Bank to enhance cybersecurity capabilities in Latin America.

2. Strategic Partnerships: RSA partnered with Exclusive Networks to enhance threat detection and response capabilities.

The global endpoint security market features key players such as 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. This report examines these prominent companies and their strategies for enhancing market penetration and strengthening their industry positions. It highlights their approaches, including expansion efforts, new product launches, and partnerships. Additionally, the report provides insights into the business performance, operating segments, developments, and product portfolios of each market player.

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