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Endpoint Detection And Response Market Outlook: Comprehensive Growth Analysis, Competitive Insights, and Trends Driving Cybersecurity Demand!
Endpoint Detection And Response Market
As per the report, the endpoint detection and response market size has grown exponentially in recent years. It will grow from $3.98 billion in 2023 to $5.06 billion in 2024 at a compound annual growth rate (CAGR) of 27.2%. The endpoint detection and response market size is expected to see exponential growth in the next few years. It will grow to $13.39 billion in 2028 at a compound annual growth rate (CAGR) of 27.5%.
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Surge in Electronic Payments Fuels Endpoint Detection And Response Market Growth
The increasing use of electronic payments is expected to propel the endpoint detection and response market going forward. Electronic payments are monetary transactions conducted electronically using digital devices rather than traditional cash or checks. The surge in electronic payments can be attributed to the adoption of digital devices, the convenience and speed of transactions, and the rise of e-commerce, fueling demand for security measures in endpoint protection and response. Endpoint detection and response are crucial to safeguarding electronic payments by detecting and responding to cyber threats targeting endpoint devices involved in payment processing. For instance, in September 2023, according to UK Finance Limited, a UK-based trade association for the UK banking and financial services sector, there were $17 billion in contactless payments across both debit and credit cards in 2022, marking a 30% increase from the $13.1 billion made in 2021. Furthermore, the average value of contactless payments continued to rise in 2022, reaching $ 18.94 (£15.10), up from $15.88 (£12.66) in 2021. Therefore, the increased use of electronic payments is driving the growth of the endpoint detection and response market.
Innovative Solutions In Endpoint Detection And Response Is Enhancing Cybersecurity With Advanced Threat-Hunting Capabilities
Major companies operating in the endpoint detection and response market focus on developing innovative technologies, such as advanced threat-hunting capabilities, to identify and mitigate emerging cyber threats proactively. Advanced threat-hunting capabilities encompass sophisticated techniques and tools cybersecurity professionals use to proactively seek out and identify hidden or emerging threats within an organization's network and endpoints. For instance, in August 2022, Huntress Labs Inc., a Colombia-based cybersecurity company, launched new managed endpoint detection and response (EDR) capabilities through its innovative Process Insights feature. This feature uses advanced threat-hunting capabilities, backed by Huntress' global 24/7 threat-hunting team, to continuously monitor activity from thousands of applications running on laptops and servers. It enables swift identification, isolation, and remediation of active cyberattacks, providing increased visibility into endpoints and networks. This innovation enhances Huntress' platform, offering adequate protection against evolving cybersecurity threats for small and mid-sized businesses (SMBs).
The endpoint detection and response market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Type: Cloud-Based, On-Premise
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By End User Industry: Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunication, Manufacturing, Healthcare, Retail, Other End-User Industries
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Major companies operating in the endpoint detection and response market are Intel Corporation, Cisco Systems Inc., Broadcom Inc., VMware Inc., Palo Alto Networks Inc., OpenText Corporation, Fortinet Inc., McAfee Corporation, CrowdStrike Inc., FireEye Inc., RSA Security, Arctic Wolf Networks Inc., Optiv Security Inc., Bitdefender Ltd, SentinelOne Inc., Cybereason Inc., Digital Guardian, Huntress Labs Inc. , Deep Instinct, Cynet, Sophos Ltd., SecPod Technologies, Aiuken Cybersecurity, ESET spol. s r.o.
Contents of the report:
1. Executive Summary
2. Endpoint Detection And Response Market Report Structure
3. Endpoint Detection And Response Market Trends And Strategies
4. Endpoint Detection And Response Market - Macro Economic Scenario
5. Endpoint Detection And Response Market Size And Growth
…..
27. Endpoint Detection And Response Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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