2024 Endpoint Detection And Response Market Report : Market Size, Growth Drivers, And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Endpoint Detection And Response Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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 growth in the historic period can be attributed to the increasing frequency and sophistication of cyber threats, growing adoption of endpoint security solutions due to remote work trends, regulatory compliance requirements driving investment in cybersecurity, rise in ransomware attacks and data breaches, and expansion of bring your device (BYOD) policies in organizations.

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%. The growth in the forecast period can be attributed to the continued escalation of cyber threats, including ransomware and zero-day attacks, the proliferation of the Internet of Things (IoT) devices increasing the attack surface, adoption of zero trust security frameworks emphasizing endpoint security, increasing demand for managed detection and response services, and expansion of 5G networks leading to heightened security concerns. Major trends in the forecast period include increased adoption of AI and machine learning, focus on zero trust architecture, integration with identity and access management (IAM), and focus on threat intelligence sharing.

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Market Drivers and Trends:

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.

Major companies operating in the English language training (ELT) market are developing innovative solutions, such as gamified English learning products, to leverage the principles of gamification to make the learning process more engaging, interactive, and enjoyable for users. A gamified English learning product is an educational tool or platform designed to teach English language skills through the integration of gaming elements. For instance, in March 2023, Duolingo, a US-based educational technology company, launched Duolingo ABC to support children in India in their English language learning journey through gamification. The unique feature of Duolingo ABC targets kids aged 3-8 years to enhance children's English language skills. This free-to-use app offers over 700 engaging lessons covering the alphabet, phonics, and sight words in bite-sized portions. With nine levels to choose from, children can learn at their own pace. The launch of Duolingo ABC expands the company's reach to young learners, particularly in markets like India, where there is a significant demand for English language learning among consumers.

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Major Key Players of the Market:

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.

Endpoint Detection And Response Market 2024 Key Insights:

• 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%.
• Surge in Electronic Payments Fuels Endpoint Detection And Response Market Growth
• Innovative Solutions In Endpoint Detection And Response Is Enhancing Cybersecurity With Advanced Threat-Hunting Capabilities
• North America was the largest region in the endpoint detection and response market in 2023

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