endpoint security Market

The endpoint security market is expected to grow from US$ 14,951.39 million in 2022 to US$ 25,073.13 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2022 to 2028.

The increasing frequency and complexity of cybersecurity threats are driving the demand for advanced endpoint security solutions. These solutions are designed to detect, analyze, block, and contain ongoing cyber threats and work in tandem with other security technologies to provide enhanced threat visibility, enabling administrators to speed up detection and remediation response times. The growing adoption of bring-your-own-device (BYOD) policies is expected to further boost the growth of the endpoint security market in the near future. Endpoint security solutions leverage advanced technologies such as cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and interconnected devices to create improved security offerings that meet the evolving demands of various industries. Symantec Corporation, for example, launched an updated version of its endpoint solution in October 2019 that combines advanced detection, protection, and response features in a single package.

Endpoint security solutions are also being used to secure on-premises servers as well as virtual and container workloads in both public and private cloud environments. In July 2022, Microsoft introduced Microsoft Defender for IoT, a security software designed for securing IoT devices such as smart TVs, printers, and other connected devices that are not PCs or smartphones. Defender for IoT is an agentless monitoring system that secures IoT devices connected to enterprise IT networks, including Voice over Internet Protocol (VoIP), printers, and smart TVs, as well as operational technology (OT) behind critical infrastructure. On August 8, 2022, Fortinet, Inc. - a global leader in comprehensive, integrated, and automated cybersecurity solutions - launched the FortiGate 4800F series of hyperscale firewalls that set new benchmarks in security, scale, performance, and innovation to meet the needs of hyperscale customers and 5G mobile network operators (MNOs). The new development by Fortinet is expected to drive the growth of the global endpoint security market during the forecast period.

The global endpoint security market is primarily led by five major players, namely Microsoft, Fortinet, Inc., Cisco Systems, Inc., AO Kaspersky Lab, and McAfee, LLC. This market study also profiles other notable players, such as ESET, spol. s r.o, Palo Alto Networks, Bitdefender, F-Secure Oyj, and Avast Software s.r.o. The study encompasses a comprehensive analysis of various leading global, regional, and local market players, as well as emerging companies, market disruptors, and niche market players to obtain a holistic view of the endpoint security market. These companies maintain their dominance in the market by introducing new products, executing acquisitions, and implementing expansion strategies. For example, in August 2022, Microsoft Corporation released two new Windows 11 previews in the Windows Insider Beta Channel, including enhancements to defender for endpoint's ransomware protection and other fixes.

Impact of COVID-19 Pandemic on Endpoint Security Market

The COVID-19 pandemic resulted in lockdowns and remote work policies, leading to an increased demand for cloud-based security solutions and heightened awareness of data security among enterprises. As a result, there has been a shift in management teams' approaches to endpoint security, favoring the endpoint security market's growth. However, the pandemic had a negative impact on the endpoint security market's growth in the Asia Pacific region. Despite having well-established IT and telecom, BFSI, healthcare, retail, defense, and government sectors, countries such as China, India, Japan, and South Korea reported a significant number of endpoint attacks during the pandemic. A Microsoft report revealed that from February to May 2020, there were 19 million phishing and ransomware attacks with a COVID-19 theme detected in Asia. The surge in cyber-attacks, coupled with the adoption of work-from-home models, contributed to the increased demand for endpoint security solutions and services in the Asia Pacific region.