DUBLIN--(BUSINESS WIRE)--The "Endpoint Security Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Solution, Services, Deployment and Vertical" report has been added to ResearchAndMarkets.com's offering.
The endpoint security market is expected to grow from US$ 14,951.39 million in 2022 to US$ 25,073.13 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2022 to 2028.
The increased volume and sophistication of cybersecurity attacks propel the demand for sophisticated endpoint security solutions. Endpoint security systems are designed to identify, analyze, block, and contain ongoing cyber threats. These systems work with other security technologies to provide visibility into advanced threats, which helps administrators accelerate detection and remediation response times.
Increased implementation of bring-your-own-device (BYOD) policies is projected to boost the endpoint security market growth in the coming years. Cloud, artificial intelligence (AI), the internet of things (IoT), linked devices, and other advanced technologies are critical in designing endpoint security solutions.
The market players are developing improved security solutions to meet the increasing product demand across various industries. For instance, Symantec Corporation announced an enhanced version of its endpoint solution in October 2019 to offer advanced detection, protection, and response features in a single package.
Endpoint security solutions are being used to secure on-premises servers and virtual and container workloads in public and private cloud environments. For instance, in July 2022, Microsoft launched Microsoft Defender for IoT, an IoT security software for smart TVs, printers, and all connected things other than PCs and smartphones.
Defender for IoT is an agentless monitoring system for securing IoT devices connected to enterprise IT networks, such as Voice over Internet Protocol (VoIP), printers, and smart TVs, and operational technology (OT) behind critical infrastructure. Also, on August 8, 2022, Fortinet, Inc. - a global leader in broad, integrated, and automated cybersecurity solutions - announced the FortiGate 4800F series of hyperscale firewalls that have set new standards for security, scale, performance, and innovation to meet the requirements of hyperscale customers and 5G mobile network operators (MNOs). The new development by Fortinet, Inc. for endpoint security is projected to propel the growth of the global endpoint security market during the forecast period.
Microsoft; Fortinet, Inc; Cisco Systems, Inc; AO Kaspersky Lab; and McAfee, LLC are the five key players operating in the global endpoint security market. ESET, spol. s r.o; Palo Alto Networks; Bitdefender; F-Secure Oyj; and Avast Software s.r.o. are a few other notable players profiled in this endpoint security market study.
In addition to these players, multiple other leading global, regional, and local market players; emerging companies; market disruptors; and niche market players were studied and analyzed during the course of this study to gather a holistic view of the endpoint security market.
These companies dominate the endpoint security market through new product developments, acquisitions, and expansion strategies. In August 2022, Microsoft Corporation developed two new Windows 11 previews to the Windows Insider Beta Channel with improvements to defender for endpoint's ransomware protection and other fixes.
Impact of COVID-19 Pandemic on Endpoint Security Market
Amid the lockdown restrictions imposed in response to the COVID-19 pandemic, a shift toward remote working of work-from-home mandates triggered awareness among enterprises about data security and cyber-attacks, which bolstered the demand for cloud-based security solutions.
Many large and small businesses increased their investments in the deployment of cybersecurity products. Thus, the COVID-19 pandemic has led to changes in the ways companies' management teams approach endpoint security, thereby favoring the endpoint security market progress.
Asia pacific holds a substantial growth opportunity for the endpoint security market, and COVID-19 pandemic has several negative impacts on the market growth. China, India, Japan, and South Korea have well-established IT and telecom, BFSI, healthcare, retail, defense, and government sectors.
China is the global manufacturing hub for various industries, and it is also home to many of Fortune 500 companies. Countries in this region reported a large number of endpoint attacks after the onset of the COVID-19 pandemic. According to a report by Microsoft, 19 million phishing and ransomware attacks based on the COVID-19 theme were detected in Asia from February to May 2020.
Thus, in addition to the work-from-home models embraced by various enterprises, the rise in cyber-attacks during the COVID-19 pandemic fueled the demand for endpoint security solutions and services in Asia Pacific.
Key Market Dynamics
Market Drivers
- Increasing Adoption of BYOD Model
- Substantial Growth in Number of Vulnerable Endpoints in Devices
Market Restraints
- Dynamic landscape of the Endpoint Attacks
Market Opportunities
- Growing Edge Computing Trend to Boost Endpoint Security Demand
Future Trends
- Rising Inclination Toward Cloud-Based Security Endpoint Solutions across Enterprises
Company Profiles
- AO Kaspersky Lab
- Avast Software s.r.o.
- Bitdefender
- Cisco Systems Inc
- ESET, spol. s r.o.
- Fortinet, Inc.
- F-Secure
- McAfee, LLC
- Microsoft Corp
- Palo Alto Networks, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/8okri6
