Endpoint Detection and Response Market Drivers Shaping Future Growth, Revenue $18.3 Billion by 2031 | CAGR 25.3%

According to the report, the global generated $14.6 billion in 2021, and is estimated to reach $31.9 billion by 2031, witnessing a CAGR of 8.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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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Based on organization size, large enterprises dominated the overall Endpoint detection and response industry in 2021 and are expected to continue this trend during the forecast period. In large organizations, there is an increase in adoption of endpoint detection and response, owing to rise in complexity, cyber risks, threat in business process and need of easy process, which leads to high competition across industries. Furthermore, large enterprises are integrating their large volume of data in the cloud to augment their speed, accuracy, and value chain scalability, which is opportunistic for market growth.

However, SMEs are expected to witness the highest Endpoint detection and response market growth in the upcoming year. Owing to the increase in number of SMEs in developing economies in Asia-Pacific including China, Japan, and India. Adoption of endpoint detection and response is expected to increase to optimize business capabilities of small & medium-sized enterprises. Moreover, the continuous rise in a number of government initiatives through various digital SME campaigns throughout the world fuels the growth of the market.

Depending on the industry vertical, the IT & telecom sector dominated the Endpoint Detection and Response Market Share in 2021 and is expected to continue this trend during the forecast period. This industry is witnessing a rapid growth, owing to increasing use of mobile devices among individuals. This provides numerous opportunities to the industry. In addition, business process moves toward digitization and technology initiatives motivated by the global pandemic, and the need for business agility, which provides lucrative growth opportunities for the endpoint detection and response market in this vertical.

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However, the retail sector is expected to witness the highest growth in the upcoming year. The EDR solution provides a flexible and secure workplace and protects from any malware function in retail sector. Due to such reason, cloud-based endpoint detection and response are getting more popularity in this sector, which provides lucrative growth opportunities for the market.

Endpoint Detection and Response Market Size was valued at $2,413.32 million in 2022, and is projected to reach $18,317.02 million by 2031, registering a CAGR of 25.3%. The current estimation of 2031, it projected to be higher than pre-COVID-19 estimates. Governments and businesses are increasingly asking employees to work from home or are shifting work to employees in less affected areas to maintain business continuity during the pandemic.

However, the situation has accelerated the adoption of advanced technologies such as AI-powered solution, automation, big data and analytics to control costs while improving the customer experience. Furthermore, organizations may transform unstructured and semi-structured data into structured and relevant data, owing to the advent of big data and analytics. This data can be used by businesses to help enterprises speed up data management, process & analyze data, and improve the efficiency of business operations.

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In addition, artificial intelligence (AI) integration aids in the extraction of new insights from existing data to improve credit decisions, financial risk management, and cyber-attacks. As a result, growth in requirement to modernize business operations is expected to propel the endpoint detection and response (EDR) market growth globally during the Endpoint Detection and Response Market Forecast.

Covid-19 scenario-

Complete lockdown, social isolation, and quarantine, and other pandemic response tactics hurt 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.

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.

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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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