Endpoint Security Market Set to Achieve a Valuation of $31.9 Billion Riding on an 8.4% CAGR by 2031

According to a new report published by Allied Market Research, titled, "Endpoint Security Market," The endpoint security market was valued at $14.56 billion in 2021, and is estimated to reach $31.9 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.

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 the market growth during the forecast period.

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Securing endpoint devices such as desktop computers, laptops, and mobile devices is a crucial step in safeguarding any network infrastructure, as these devices serve as the entry point. Endpoint security technologies offer several benefits, including protection for vulnerable services, enhanced network security for cloud and internet usage, and better adherence to data privacy regulations. The significance of endpoint security has grown notably in recent years, becoming an integral part of daily life for individuals with smartphones, computers, and smart devices. Additionally, organizations face increased vulnerabilities to risks such as organized crime, insider threats-both malicious and unintentional-hacking, and the swift digitalization of various sectors.

Endpoint security stands as the primary defense in cybersecurity, often being the first choice for businesses looking to secure their corporate networks. The rise of Bring-Your-Own-Device (BYOD) policies is expected to further drive the expansion of this market. Furthermore, the development of endpoint security solutions now relies on cutting-edge technologies such as cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and interconnected devices. Major market players are actively creating advanced security solutions to meet the rising demand across diverse sectors. For example, in October 2019, Symantec Corporation unveiled an enhanced version of its endpoint solution, offering advanced detection, protection, and response capabilities within a single solution.

Furthermore, factors such as increased use of bring-your-own devices (BYOD) and number of connected devices primarily 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 endpoint security market forecast.

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Depending on end user, the IT and telecom segment dominated the endpoint security market share in 2021 and is expected to continue this dominance during the forecast period, owing to increased usage of mobile devices among mass population. Moreover, security analysts, threat hunters, and IT professionals can assess and stop follow-on threats considerably and more swiftly owing to sophisticated analysis tools and capabilities of endpoint security tools. However, the healthcare segment is expected to witness the highest growth in the upcoming years, owing to enable safer, quicker and more convenient interaction between medical professionals and their medical assistants. Endpoint security is gaining popularity in the healthcare industry due to its increased end-to-end security about patient data, cost advantages, and user-friendly networking features.

Region-wise, the endpoint security market size was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to the increased number of connected devices in use which has also increased the security risks faced by organizations. However, Asia-Pacific is expected to witness the highest growth in the upcoming years, 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. Key players in the Asia-Pacific region are adapting strategies such as acquisition and collaboration to improve endpoint security market analysis.

Key players profiled in endpoint security industry include 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. Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the endpoint security industry.

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By solution type, the endpoint protection platform segment held the major share in 2021, garnering more than two-third of the global endpoint security market revenue. The endpoint detection and response segment would also showcase the fastest CAGR of 10.4% during the forecast period, owing to real-time continuous monitoring and gathering of endpoint data with rules-based automated reaction and analysis capabilities.

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 industry vertical, the IT and telecom segment accounted for more than one-fifth of the global endpoint security market share in 2021. The healthcare segment would also display the fastest CAGR of 10.2% throughout the forecast period, owing to enable safer, quicker and more convenient interaction between medical professionals and their medical assistants.

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The COVID-19 pandemic has hurt several countries worldwide. Complete lockdown, social isolation, and quarantine, among other pandemic response tactics, have harmed several global industries, including a portion of the IT security sector. Enterprise virtual private network (VPN) servers were essential to groups and institutions because so many workers now worked from home and so many students were enrolled in online courses. As a result, businesses faced greater cyber risks and threats as a result of the quick adoption of new ideas. There has been an increasing number of COVID-19 websites offering fake prepositions in return for personal information, which is one of the main reasons why attacks on corporate emails have increased. Thus, organizations were anticipated to implement endpoint security solutions during the COVID-19 outbreak by promoting social seclusion at work and permitting remote work-from-home offices. This has helped accelerate the uptake of cloud infrastructure and services, which has increased the market's active device base quickly. This resulted in quick adoption of endpoint security solutions and growth in the market.

Leading Market Players-

• Microsoft Corporation
• CrowdStrike
• Check Point Software Technologies Ltd.
• Cisco Systems Inc.
• Trend Micro Incorporated
• Broadcom
• AO Kaspersky Lab
• SentinelOne
• McAfee, LLC
• Comodo Security Solutions, Inc.

The report analyzes these key players in the global endpoint security market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

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