Leading endpoint security market players include Microsoft Corporation, Cisco Systems, Inc., McAfee LLC, Cisco Systems Inc., VMware Inc., Broadcomm Inc., SentinelOne Inc., Symantec Corporation, F-Secure Corporation, Trend Micro Incorporation, and AVG Technologies
New York, Nov. 07, 2023 (GLOBE NEWSWIRE) — The global endpoint security market size is slated to expand at ~10% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 150 billion by the end of 2035, up from a revenue of ~USD 23 billion in the year 2022.Growing digitization in the world is expected to create the demand for endpoint security. As the globe works to recover from the pandemic, one of the long-term consequences for many sophisticated economies has been the greater utilization of digital technologies. Working from home is becoming more widespread, and many businesses have expanded their online operations.
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According to recent data, digital transformation will add USD 100 trillion to the global economy by 2025. Furthermore, platform-driven transactions are estimated to enable about two-thirds of the USD 100 trillion in value at risk from digitization by 2025.
Growing Use of Online Platforms is to Boost the Growth of Endpoint Security Market
Consumer confidence in social media firms is rapidly declining, with more than half, that is around 54%) stating that these organizations do not keep their personal information secure. Moreover, almost half of worldwide consumers are hesitant to provide data to internet-based businesses, and nearly 33% have lost trust in social media organizations as a result of being duped. In addition to this, aside from social media businesses, 51% of worldwide consumers have little confidence in their mobile network provider to protect their personal information, and 45% do not trust their bank to protect their data. Endpoint security is the practice of preventing hostile actors and campaigns from exploiting endpoints or access points of end-user devices such as PCs, laptops, and mobile devices.
Endpoint Security Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Gowing Cases of Cyber Attacks is to Boost the Market Growth in North America Region
In the United States around 1802 cases were reported where data was compromised in 2022 and in the same year, about 422 million were impacted by the same sort of infringement such as leakage, disclosure, and information breaches. Owing to these cases, the attacker has gained possession of sensitive data from several industries. However, it is reported that cyber-attacks are more common with private companies. Industrial, healthcare, and BFSI sectors are the three major impacted sectors with cyber-attacks. The prevalence of breaches of personal health data in the United States has gradually risen in recent years. Furthermore, between 2020 and 2022, data compromise incidents practically doubled in the banking industry, while they have grown by three time in the manufacturing sector.
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Rapidly Growing IT Sector is to Elevate Market Growth in Asia-Pacific
The growing use of digital payments, as well as the willingness to embrace new technologies such as artificially intelligent (AI), cloud-based computing, and the use of blockchain technology in end-user industries, are projected to drive the growth of IT services. Despite uncertainties, IDC’s Worldwide Black Book: Live Edition predicts that spending on information technology in Asia Pacific will increase by 4.4% in 2023, up from 3.8% in 2022. Furthermore, the rising investment in the investment and banking sector is also expected to drive market growth in the region. The main reason why investment tech is a huge possibility in the Asia Pacific is the growing awareness and interest in investing among the Indian populace which will increase the demand for end-point security to secure the investment transaction. The investment technology industry in India is expanding at an unprecedented rate, with a 300% year-on-year increase in the last three years in a row.
Endpoint Security, Segmentation by Deployment
- On-Premise
- Cloud
On the basis of deployment, cloud segment in endpoint security market is expected to gain the highest market revenue over the forecasted period. The cloud provider protects data processing, storage, and the physical network, as well as all maintenance and setup. You protect your data, users, and applications. The cloud service provider protects computing, storage, physical networks, digital network controls, and the operating system. Therefore, the rising adoption of cloud networks for security is expected to drive the growth of the segment. This huge percentage is due in part to a dramatic change that occurred in 2020. Around 61% of firms migrated operations to the cloud as a result of the COVID-19 Pandemic, which caused a reliance on remote work. Furthermore, even at a rate of 94%, cloud use is expected to increase in 2023.
Endpoint Security, Segmentation by End Use
- Retail
- BFSI
- IT & Telecom
- Government & Public Sector
- Healthcare
- Manufacturing
- Transportation
Based on the end use, the manufacturing segment in endpoint security market is expected to dominate the market growth by the end of 2035. The growth of the segment is majorly attributed to growing instances of cyber attacks in the manufacturing industry. Manufacturing had the biggest share of cyberattacks among the world’s main industries in 2022. Cyber attacks on manufacturing organizations accounted for roughly 25% of all cyber attacks during the analyzed year. In the past few years, the manufacturing sector has undergone a significant digitization shift. Although these developments assist the sector by increasing efficiency and performance, the cyber security challenges that arise as a result of digitalized industrial processes are significant. Because the industry frequently intersects and is linked to other industry sectors, it becomes more exposed to cyber attacks.
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A few of the well-known industry leaders in endpoint security market that are profiled by Research Nester are Microsoft Corporation, Cisco Systems, Inc., McAfee LLC, Cisco Systems Inc., VMware Inc., Broadcomm Inc., SentinelOne Inc., Symantec Corporation, F-Secure Corporation, Trend Micro Incorporation, and AVG Technologies
Recent Developments in the Endpoint Security Market
- Broadcom, Inc., an internationally recognized innovator in the design, development, and delivery of semiconductors and software for infrastructure solutions, announced an agreement to buy Symantec Corporation’s enterprise security division for USD 10.7 billion in cash. Broadcom’s infrastructure software presence will be greatly expanded with the inclusion of Symantec’s enterprise security portfolio as it continues to establish one of the world’s leading infrastructure technology firms.
- Cisco has made available to the public the Cisco Cloud Controls Framework (CCF). The Cisco CCF is a broad structure that aggregates international and national security compliance and certification standards. It enables teams to ensure that cloud products and offerings fulfill security and privacy standards through a simpler and rationalized compliance and risk management strategy, which reduces significant costs.
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