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At 8.79% CAGR, Global Endpoint Security Market USD 21.18 Bn by 2027, says Brandessence Market Research
The growing demand for remote work, connected devices like desktops, laptops, and new technologies like Internet Of Things (IoT) are key drivers of endpoint security solutions. The endpoint security solutions are designed to secure endpoints that connect devices like IoT, laptops, and desktops to networks. Conventionally, these devices created attack paths as potential exploits for cyber criminals. The endpoint security architecture designs an advanced compliance standard to safeguard against traditionally weak areas of cyber defense like threat detection, response, and unified monitoring. The increasing demand for connected devices, growing threat of cyber security, and increased efficacy of endpoint security remains key drivers of growth in the endpoint security market.
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Endpoint security remains an advanced cyber defense tool for corporate networks. The solution aims to identify, and manage the user's data access and computer usage over a corporate network. The computer access through ransom wares, and malwares remains a plaguing issue for corporate networks, as most such access is granted by unaware employees by being lured into opening fishy emails. The endpoint security promises to offer such employees services like a Virtual Private Network, which essentially limits their access to the core server, safeguarding sensitive data, and corporate network. Furthermore, based on the device security, endpoint security can limit its individual access to the network, while simultaneously encrypting endpoints to protect against data leaks.
The growing digitalization has forced many corporates to adopt solutions like cloud, with increased mobile access provisions for employees. Such provisions are essential for employees as they work from home during covid-19, and growing demand for digitalized solutions from customers continues to drive adoption of cloud. The increased adoption of cloud has led to significant growth for certain sectors like banking, which has enabled cost-effective sales leads, an increased consumer base, cost-effective online background checks, and tremendous efficiency in processing. The endpoint security solutions are ideal for financial institutes, and various other industries due to their ability to provide key stakeholders like employees a limited access to cloud infrastructure without comprising on core efficiency.
The endpoint security market remains an innovative and open landscape, thanks to increasing fragmentation. The growing demand, and service providers globally, and relatively low cost of investments remain key highlights of growth in the endpoint security market. The growing costs of skilled labor force, and increased demand for specialization has also led to increased opportunities for collaborations, and mergers in the endpoint security market. Some endpoint security top companies include Juniper Networks, Inc. (U.S.), SOPHOS Ltd (U.K.), Cisco Systems, Inc. (U.S.), McAfee LLC (U.S.), and many more.
Watchguard technologies completed its acquisition of Panda security in June, 2020. The WatchGuard technology, a leading player in the endpoint security market aims to expand its existing MSP-focused security platform to deliver end-to-end security solutions under an umbrella with the new acquisition. The company anticipates that this is the immediate, and long-term security need for end-users, and the new offering will address common challenges for end-users including complexity, rapid changes in network topology, and purchasing models.
CISCO announced a similar umbrella product to solve the challeges associated with manager security service providers. The company in its 2018 release offered leading solutions like Cisco Umbrella, Cisco AMP, and Meraki Systems as an umbrella solution to solve challenges associated with increased complexity of security solutions, and growing demand for more visibility, and control of customer endpoints.
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The covid-19 pandemic has hit various regions around the globe. However, despite its far-reaching impact, it has been a boon for security solutions in general. The pandemic has pushed organizations to offer remote work for employees globally. The pandemic has led to a shortage, and attrition issues in the IT industry globally. However, the growth of remote work, and subsequent growth of security solutions has led to tremendous uptake in endpoint security solutions. The growth of covid-19 websites, and email offering new lures to government agencies, and corporate employees has led significant growth of anti-malware solutions. The increase in some cases remained as high as over 600%. Furthermore, due to supply constraints from China , upgrading old devices or the security infrastructure became an essential necessity for many organizations during the covid-19 pandemic. This growth continues to remain a pillar for increased awareness about endpoint security solutions, increased uptake, and promising new horizon of growth in the endpoint security solutions.
The endpoint security market is divided into regions into North America , Europe , Asia Pacific , Latin America , and Middle East & Africa . Among these, North America is expected to hold highest share of global revenues, thanks to increased threat from Russian and Chinese hackers. Key agencies like National Security Agency have already sounded the alarm, with a growing digitalization during covid-19 pandemic. The Asia Pacific region is expected to grow at the fastest pace during the 2020-2027 period, thanks to rising IT infrastructure, increased penetration of low-cost android devices, and growing demand for IoT infrastructure. The advents like electric vehicles, 5G, and IoT infrastructure in Asia pacific also remain key opportunities for growth for players in the endpoint security market.
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