The end point security market size is expected to reach USD 27.05 billion by 2024,
according to a new report by Grand View Research, Inc. The endpoint security
market is expected to witness a substantial growth over the forecast period,
due to the increasing deployment of various security solutions with rising
security risks across several applications including BFSI, IT & telecom,
and retail.
The rising number of enterprise endpoints
and mobile devices having access to critical enterprise data have created a
huge demand for endpoint security solutions in the market, which is anticipated
to drive the market.
Moreover, emerging trend of virtualization
is projected to affect endpoint security. Virtualization separates physical
systems into several virtual machines, which will require similar endpoint
protection as physical servers. Hence, escalating the demand for more efficient
and comprehensive solutions over the forecast period.
Several companies in the industry are
spending on different technologies to improve capabilities, secure internet
protocols, test software and analyze vulnerabilities. The evolution of cloud
storage has increased the adoption of cloud-based security services; the as
significant amount of data is stored in one place. This has led to increased
threat of data breaches and enforcement of various regulations to curb the risk
of placing the data on the cloud.
Further key findings from the report suggest:
· The mobile device security segment
witnessed revenue share of over 17% in 2015, which is anticipated to grow at a
CAGR of nearly 16% over the forecast period. The increasing adoption of BYOD
trend have led the employees in organizations to access corporate data on their
personal mobile devices. However, it creates security challenges, which
requires advanced endpoint security solutions to safeguard sensitive business
information resulting in high demand.
· Enterprises dominated the market in 2015,
and is estimated to grow at a CAGR of over 13% from 2016 to 2024. SMBs are also
anticipated to witness substantial growth over the forecast period due to the
rising adoption such safety solutions to prevent crucial information.
Organizations of all sizes are transitioning their business-critical operations
and workloads to cloud computing to decrease the burden on their IT support
staff, reduce costs and provide advanced services. The increasing adoption of
cloud technology have led security vendors to develop cloud-based security
solutions on a large scale.
· IT & Telecom industry dominated the
market with the revenue share of nearly 25% in 2015 and is anticipated to
witness significant growth over the next eight years. The industry has evolved
through significant expansion phase and have stringent legal and information
security requirements. Further, rising acceptance of BYOD trend is anticipated
to drive the industry demand.
· Moreover, the BFSI sector offers
substantial potential for the market as it is continuously visualizing the
regional; instability, terrorism, physical risks, criminal networks and modern
threats originating from cyber sabotage and opaque sources. The rising
regulation in the finance sector is further contributing towards the industry
growth.
· The North America is estimated to dominate
the market with a share of over 32% in 2015 growing at a CAGR of nearly 11%
over the next eight years. Asia Pacific regional market accounted for over
19.0% of the global market share in 2015 and is expected to grow with a CAGR of
13.2% over the next eight years. Stringent regulations across Asia Pacific are
expected to fuel the demand for efficient endpoint security solutions driving
the demand in this region. Countries including China, India, Malaysia and
Australia are investing heavily in endpoint security to fight against cyber
threats and attacks.
· The key industry participants include
Microsoft Corporation, Kaspersky Labs, Panda Security SL, Symantec Corporation,
Sophos Ltd, Cisco, Bitdefender, ESET, IBM Corporation, F-Secure, Intel Security
Inc. (McAfee) and Trend Micro Incorporated. The vendors involve in frequent
merger & acquisitions to increase their geographical presence and product
portfolio to gain competitive advantage.
Grand View Research Inc. has segmented the
global endpoint security market on the basis of solution, deployment,
organization, application, and region:
Endpoint Security Solution Outlook
(Revenue, USD Million, 2014 - 2024)
·
Firewall
·
Antivirus
·
Application Control
·
ID/IP
·
MDS
·
Encryption technologies
·
Others
Endpoint Security Deployment Outlook
(Revenue, USD Million, 2014 - 2024)
·
On-premise
·
Cloud
Endpoint Security Organization Outlook
(Revenue, USD Million, 2014 - 2024)
·
Enterprise
·
SMBs
Endpoint Security Application Outlook
(Revenue, USD Million, 2014 - 2024)
·
IT & telecom
·
BFSI
·
Industrial
·
Education
·
Retail
·
Medical
·
Others
Endpoint Security Regional Outlook
(Revenue, USD Million, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
