Visiongain has published a new report on Endpoint Security Market Report to 2031: Forecasts By Component (Solution {Endpoint Protection Platform [Antivirus, Firewall, Intrusion Prevention, Encryption Technologies, Others], Endpoint Detection and Response}, Service {Managed Service, Professional Service}), By Deployment (On-Cloud, On-Premise), By Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), By Industry Vertical (BFSI, IT and Telecom, Healthcare, Manufacturing, Government & Defense, Retail & E-Commerce, Others). PLUS, Profiles of Endpoint Security Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.

Global endpoint security market was valued at US$ XX billion in 2019 and is projected to reach a market value of US$ XX billion by 2031.

Endpoint security is an approach to protect endpoint devices from cybersecurity threats. The security solution prevents malware attacks, detects potential and prevalent malicious activity and provides remediation capabilities to the dynamic security incidents and alerts on the computer networks which remotely bridges to the client devices. Rising BYOD trend among enterprises and endpoint breaches and attacks are the factors driving the growth of the endpoint security market. The market seeks growth opportunities from increasing demand for securing IT infrastructure in the BFSI industry and the need for centrally managed administration & protection. However, concerns related to pirated solutions, data security & privacy concerns, and low awareness related to endpoint security solutions are some of the factors hampering the market growth during the forecast period.

COVID-19 Impact on Endpoint Security Market
The spread of COVID-19 has affected the businesses and livelihood of the people at an unprecedented rate. Majority Countries have imposed nationwide lockdown to minimize the further spread of the virus. However, even during this pandemic, endpoint security solutions and services has witnessed a significant demand than ever. There has been an increase in the adoption of connected devices owing to the remote working initiatives taken up the commercial and government enterprises. Moreover, the rising number of cybersecurity concerns during the pandemic has also elevated the demand for endpoint security solutions. Though enterprises have limited the overall IT spending, the share of the expenditure on IT security has not been reduced or limited to thereby driving the market demand even during the pandemic.

Market Drivers

Rising BYOD Trend Among Enterprises
The BYOD trend has been witnessing a rise over the years. Using personal smartphones and tablets for work purpose becomes convenient for employees and in-expensive for employers. However, as more and more employee-owned devices are allowed, endpoint security solutions and BYOD security policies become essential. The risks related to endpoint security are invited from the employee-owned devices increases if the organization's network infrastructure is not adequately secured. Endpoint security solutions such as encryption, antivirus, firewall mobile device management, and intrusion prevention among others help in offering the complete security keeping the enterprise data secured which is driving the market growth.

Rising Endpoint Breaches and Attacks
The number of cyberattacks is on the rise, and so is the complexity of the attacks. According to a study by Accenture, the number of security breaches has increased by 11% since 2018 and 67% since 2014. Endpoints are the weakest links in an enterprise network. With the increase in the number of connected devices, endpoint security threats are also on the rise. Phishing, hacking, and malware attacks are some of the most common endpoint security threats. Adoption of endpoint security policies ensures the security and safety of all the endpoint devices connected on an enterprise network, thereby protecting the sensitive enterprise data. Thus, rising endpoint breaches and attacks are driving the demand for endpoint security solutions and services.

Market Opportunities

Rising Demand for Securing IT Infrastructure in BFSI Industry
BFSI industry is witnessing a drastic digital transformation in the current years. Digitalization of customer data, insurance claims, and various banking services has made the sector a prime target for cyberattacks and other malicious activities. Moreover, the adoption of cloud platform and complex security infrastructure is expected to increase the risk related to cybersecurity. The endpoint security solutions are customized for the BFSI sector to protect the transactional servers, POS, and ATM kiosks.

The solution helps in securing valuable customer & enterprise data by providing security against ransomware, malware, and sophisticated APT. Thus, the demand for securing IT infrastructure in the BFSI industry is expected to drive the need for endpoint security

Need for Centrally Managed Administration & Protection
Businesses today are focussed on adopting digital strategies such as Cloud and IoT, among others to help boost productivity and sales. However, due to which, the overall IT infrastructure becomes complex and is increasingly exposed to security threats, thereby raising a need for centrally managed administration & protection for efficient management security of all the endpoints in an enterprise network. Endpoint security solutions enable the easy deployment, management, and monitoring of all the endpoint devices and ensure maximum safety. The solution offers real-time visibility of all the devices connected to the network and their security status on a single interactive dashboard along with features such as incident response, remediation, and administration optimization. Thus, the need for centrally managed administration & protection among enterprises is expected to create growth opportunities for endpoint security solutions and services in the forthcoming years.

Competitive Landscape
The endpoint security market is highly competitive. The key market players are focused on innovating its endpoint security solutions with advanced capabilities to cater to a wide application area. Furthermore, the companies also emphasize collaborations and acquisitions strategies to strengthen its market position. Some of the companies profiled in the report include Microsoft Corporation, CrowdStrike, Symantec Corporation, Trend Micro Inc., Sophos Ltd., McAfee, LLC, Kaspersky Lab, Cisco Systems, Inc., Palo Alto Networks, and Fortinet.

January 2020, Sophos Ltd. launched Intercept X, a new security solution for Chrome OS and mobile threat defence for Android and iOS device. The new solution protects the users from fleeceware applications that overcharge unsuspecting consumers for functionality widely available in other free or low-cost apps.

October 2019, Symantec Corporation launched a Symantec Endpoint Security solution. The new solution provides protection, detection and response in a single solution, as well as new attack surface reduction, threat hunting, and breach assessment and prevention capabilities across all major endpoints, including mobile devices.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.

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