Endpoint Security Market

The increase in the adoption of AI-enabled automated responses is expected to provide lucrative opportunities for market growth during the forecast period.

PORTLAND, PORTLAND, OR, UNITED STATE, August 28, 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 plays a crucial role in safeguarding endpoint devices such as desktop computers, laptops, mobile devices, and others, as these serve as entry points to structured networks. It offers several benefits, including protection for vulnerable services, enhanced network security for cloud environments and internet usage, as well as improved data privacy and adherence to compliance policies. In recent years, endpoint security has gained significant prominence, becoming an integral part of daily life for individuals using smartphones, computers, and other smart devices.

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As organizations face heightened risks from organized crime, insider threats—both malicious and accidental—cyberattacks, and the rapid digitization of industries, endpoint security has emerged as a critical first line of defense in cybersecurity. It is one of the primary solutions businesses consider when securing their corporate networks. The anticipated rise in the adoption of bring-your-own-device (BYOD) policies is expected to further drive market growth.

Additionally, the development of endpoint security solutions is being propelled by advancements in cutting-edge technologies, including cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and connected devices. In response to increasing demand from various industries, leading market players are continuously innovating and introducing sophisticated security solutions. For example, in October 2019, Symantec Corporation launched an enhanced version of its endpoint security solution, integrating advanced detection, protection, and response capabilities within a single platform.

The growth of the endpoint security market is primarily driven by the increasing use of BYOD policies and the proliferation of connected devices. However, a shortage of skilled professionals poses a challenge to market growth. On the other hand, the rising adoption of AI-enabled automated response systems is expected to create significant opportunities for market expansion in the near future.

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The COVID-19 pandemic had a significant impact on various global industries, including portions of the IT security sector, as measures such as lockdowns, social isolation, and quarantines disrupted operations. In early 2021, the effects of the pandemic were particularly evident in China, which is a major global producer and consumer of endpoint devices like smartphones, PCs, and tablets. This disruption influenced the global endpoint security market.

In 2021, the endpoint protection platform segment captured the largest share of the global endpoint security market, accounting for more than two-thirds of total revenue. Meanwhile, the endpoint detection and response (EDR) segment is projected to experience the fastest growth, with a compound annual growth rate (CAGR) of 10.4% during the forecast period. This growth is driven by EDR’s ability to offer real-time, continuous monitoring, and data collection from endpoints, combined with automated rule-based analysis and response mechanisms.

In terms of deployment, the on-premise segment led the market in 2021, contributing around two-thirds of the overall revenue. However, the cloud-based segment is expected to grow at the highest CAGR of 10.3% throughout the forecast period. The increasing demand for cloud solutions is attributed to the flexibility and cost-efficiency they offer, making them an appealing option for businesses transitioning to remote and hybrid working environments.

By enterprise size, large enterprises held the dominant position in 2021, generating over three-fifths of the total market revenue. However, small and medium-sized enterprises (SMEs) are forecasted to exhibit the highest growth, with a CAGR of 10.1% during the forecast period. This rise is fueled by the growing number of SMEs in the Asia-Pacific region, especially in countries like China, Japan, and India, where the demand for endpoint security solutions is increasing.

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Among industry sectors, the IT and telecom segment was the largest in 2021, accounting for more than one-fifth of the global market. Meanwhile, the healthcare sector is projected to show the fastest growth, with a CAGR of 10.2% through 2031. This growth is largely driven by the need for secure, rapid, and convenient interactions between healthcare professionals and their support staff, making endpoint security crucial in the digital transformation of healthcare services.

Regionally, North America dominated the global endpoint security market in 2021, capturing more than one-third of total revenue. It is expected to maintain its lead through 2031. However, the Asia-Pacific region is forecasted to have the highest CAGR of 10.7% during the same period. The rapid adoption of technologies such as artificial intelligence (AI), the Internet of Things (IoT), connected devices, and cloud services in this region is driving the demand for robust endpoint security solutions.

Key Market Players:

Microsoft Corporation
CrowdStrike
Check Point Software Technologies Ltd.
Cisco Systems Inc.
Trend Micro Incorporated
Broadcom
AO Kaspersky Lab
SentinelOne
McAfee, LLC
Comodo Security Solutions, Inc.

These companies have employed various strategies, including business expansions, new product launches, partnerships, and other initiatives to increase their market presence and enhance their competitive positioning. The analysis of these key players provides insights into their business performance, product offerings, and strategic developments, helping stakeholders understand the dynamics of the endpoint security market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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