USD 31.9 Billion Endpoint Security Market Reach by 2031 | Top Players such as - CrowdStrike, Kaspersky and McAfee
Factors such as increased use of bring your own devices (BYOD) and rise in number of connected devices drive the growth of the endpoint security market. However, lack of skilled workers hampers market growth to some extent. Moreover, the increase in adoption of AI enabled automated responses is expected to provide lucrative opportunities for market growth during the forecast period.
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The global endpoint security market was valued at USD 14.6 billion in 2021, and is projected to reach USD 31.9 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.
The endpoint security market is segmented on the basis of solution type, deployment mode, enterprise size, industry vertical, and region. On the basis of solution type, it is bifurcated into endpoint protection platform (EPP) and endpoint detection and response (EDR). On the basis of deployment mode, it is segregated into on-premises and cloud. On the basis of enterprise size, it is classified into large enterprise and Small and Medium-Sized Enterprises (SMEs). On the basis industry vertical, it is divided into IT and telecom, healthcare, manufacturing, BFSI, retail and e-commerce, government and defense, and other. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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By enterprise size, the large enterprise segment held the major share in 2021, garnering more than three-fifths of the global endpoint security market revenue. The small and medium-sized enterprises (SMEs) segment would also showcase the fastest CAGR of 10.1% during the forecast period, owing to a surge in the number of SMEs in Asia-Pacific's region, including China, Japan, and India.
By deployment mode, the on-premise segment held the major share in 2021, garnering around two-thirds of the global endpoint security market revenue. The cloud segment would also showcase the fastest CAGR of 10.3% during the forecast period, owing to the flexibility and financial advantages that come with cloud services.
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By region, North America garnered the highest share in 2021, holding more than one-third of the global endpoint security market revenue in 2021, and is projected to retain its dominance by 2031. The Asia-Pacific region would also portray the fastest CAGR of 10.7% during the forecast period, owing to rapid growth in technologies such as AI, IoT, connected devices, cloud services is attributed to the high demand of high endpoint device protection in Asia-Pacific.
The global endpoint security industry is dominated by key players such as Microsoft Corporation, CrowdStrike, Check Point Software Technologies Ltd., Cisco Systems Inc., Trend Micro Incorporated, Broadcom, AO Kaspersky Lab, SentinelOne, McAfee, LLC, and Comodo Security Solutions, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the endpoint security industry.
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● Complete lockdown, social isolation, and quarantine, and other pandemic response tactics had a negative effect on several global industries, including a portion of the IT security sector.
● Early in 2021, the COVID-19 outbreak's impacts on the global endpoint security market were felt majorly in China, as it is one of the world's top producers and consumers of endpoint devices like smartphones, PCs, and tablets.
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