According to the new research report on "Endpoint Security Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 25,073.13 million by 2028 and grow at a CAGR of 9.0% from 2022 to 2028.
The global endpoint security market ecosystem consists of stakeholders such as solution providers, endpoint security service vendors, and end-users. Solution providers offer a range of solutions including antivirus, antispyware, antimalware, firewall, endpoint device control, intrusion prevention, and endpoint application control. In recent years, the market has become highly fragmented due to significant developments in solutions. Major solution providers in the market include Microsoft, Fortinet, Inc., Cisco Systems, Inc., AO Kaspersky Lab, and McAfee, LLC, which have made several developments to streamline their product experience through mergers, collaborations, and product upgrades.
The major customers of these solution providers are system integrators who enter into long-term agreements with their customers to offer endpoint security services and manage their infrastructure. Government & regulatory bodies and peripheral participants such as industry consortiums, groups, and researchers also play a crucial role in shaping the global endpoint security market. The end-users of the market belong to various industry verticals, including government & defense, healthcare, IT & telecom, and BFSI.
Over the past five years, the information technology infrastructure has become more complex and diverse with the introduction of new platforms, regulations such as BYOD and CYOD, business applications, and other technologies. With the growth in mobile computing, trends like BYOD and CYOD are becoming increasingly common in business settings. This allows employees to access organizational data from their mobile devices anytime, anywhere. As customers become more tech-savvy and mobile-centric, these new technologies are gaining traction in the workplace. Both large and small enterprises are adopting the BYOD movement due to the convenience and flexibility it offers to employees in completing their work.
Implementing a BYOD policy can have several benefits for organizations, including increased employee morale, productivity, creativity, communication, and cooperation. Over the years, many businesses have shifted towards BYOD policies, and users find it efficient to work on their personal devices. However, the adoption of BYOD policies has also resulted in new challenges, such as difficulty in monitoring all connected devices and maintaining a consistent layer of cybersecurity. As a result, companies are increasingly investing in endpoint security services to protect various devices, including laptops, desktops, smartphones, and tablets, whether on-premises or remote. This trend is expected to drive the growth of the endpoint security market, as businesses continue to prioritize the security of their endpoints.
The endpoint security market size is segmented into solution, services, deployment, and verticals. Based on the solution, the endpoint security market is segmented into antivirus, antispyware, antimalware, firewall, endpoint device control, intrusion prevention, and endpoint application control. Based on services, the endpoint security market is categorized into consulting, training & support, and managed services. Based on deployment, the market is segmented into cloud and on-premise. Based on vertical, the endpoint security market is segmented into government and defense, BFSI, retail, IT & telecom, healthcare, energy & utilities, education, and others.
Key Findings of Study:
Europe ranked as the second largest contributor to the global endpoint security market share in 2021 and is predicted to continue its growth trajectory in the coming years. Various organizations in Europe are adopting endpoint software to gain a competitive edge by analyzing and acting on data promptly, which significantly propels the endpoint security market's growth in the region. Furthermore, the heightened demand for cloud-based solutions among small and medium-sized businesses (SMBs) positively influences the expansion of the endpoint security market in Europe. However, the endpoint security market growth in Europe is constrained by high implementation costs and a shortage of skilled IT professionals. Nevertheless, the increasing need for better insights into corporate planning and the growing trends of bring your own device (BYOD) and work from home (WFH) present lucrative opportunities for the endpoint security market's growth over the forecast period, as employees use their own internet-connected devices to work.
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