Endpoint Security Market size is set to surpass USD 15 billion by 2026, according to a new research report by Global Market Insights Inc.
Growing demand for BYOD practices to enhance convenience and work satisfaction for employees is likely to fuel the endpoint security industry growth. Allowing employees to bring their devices has helped companies to cut hardware & service costs considerably. Endpoint security solutions tightly integrate BYOD network components with granular access policies across tablets, laptops, and other mobile devices. This leads to reduced incidents of malware attacks and increased market competitiveness by eliminating network intrusions.
Additionally, the demand for robust cybersecurity and protection of remote working devices amid the ongoing COVID-19 pandemic is expected to create new opportunities for endpoint security tools. Cybercriminals are taking advantage of the situation as people are increasingly spending a large amount of time online due to the quarantine measures taken by the nations globally.
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Strict adherence to regulatory compliance to drive software segment demand
The endpoint security software market is projected to witness growth rate of above 7% through 2026 owing to the increasing adoption of encryption technologies to meet regulatory obligations. Encrypting the data residing on endpoint devices is critical to ensure data integrity and security along with protecting crucial intellectual property to gain a significant edge in a competitive market. Companies are consistently focusing on developing and commercializing advanced endpoint encryption solutions.
Browse key industry insights spread across 450 pages with 755 market data tables and 29 figures & charts from the report, “Endpoint Security Market Size By Component (Software [Firewall, Intrusion Prevention, Anti-virus/ Anti-Malware, Endpoint Application Control, Encryption Technologies, Mobile Device Security] Service [Training and Consulting Service, Maintenance and Updates Managed Service]), By Deployment Model (On-premise, Cloud), By Application (BFSI, Telecom & IT, Retail, Healthcare, Government and Public Sector, Education, Transportation), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026”, in detail along with the table of contents:
Growing complexities of cyber-attacks
The cloud deployment segment is anticipated to register nearly 12% gains till 2026. The rising uptake of cloud-based cybersecurity technologies to combat consistently evolving cyberthreats has accentuated segment growth. Traditional on-premise solutions are unable to easily accommodate modern endpoint devices led by operational inefficiencies in the software architecture. In comparison, a cloud-based endpoint solution offers immediate incident response by providing real-time information instantaneously.
Rising demand to combat financial losses in the BFSI industry
The BFSI segment accounted for more than 25% of the endpoint security market share in 2019 driven by growing uptake of endpoint protection by financial institutions to ensure maximum protection of their customers’ financial records and confidentiality of financial transactions. The increasing digitalization in the banking sector will assist fintech players in quickly delivering their digital services to the market. Endpoint protection solutions are helping BFSI enterprises in ensuring robust security and near-zero downtimes of these digital services.
Increasing digitalization efforts and expansion of network infrastructure in Europe
The Europe endpoint security market is predicted to capture 20% share by 2026. Consumers in the region are rapidly adopting digital services and swiftly integrating advanced technologies into their daily lives. Consequently, the risk of cyber-attacks and data breaches is also increasing, leading to industry expansion.
New product launches will be the major strategy by major participants
The industry has observed several strategic partnerships by major vendors to strengthen their market presence. For instance, in February 2020, Microsoft Corporation partnered with Firedome to jointly develop advanced endpoint protection for IoT devices. This helped the company to amplify its client base in the connected security segment.
Some of the key players operating in the endpoint security market include AhnLab, Inc., Avira Operations GmbH & Co. KG., Bitdefender, Carbon Black, Inc., Check Point Software Technologies Ltd., Cisco Systems, Inc., Comodo Group, Inc., Cylance Inc., ESET, spol. s.r.o., FireEye Inc., Fortinet, Inc., F-Secure, IBM Corporation, McAfee, Inc., Kaspersky Lab., Microsoft Corporation, Panda security, Sophos Ltd., Symantec Corp., Trend Micro Inc., VIPRE Security, and Webroot Inc.
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