Endpoint security market to reach $18.6B by 2027
The endpoint security market is expected to grow at a CAGR of 5.9% from 2020 to reach $18.6 billion by 2027, according to Meticulous Research.
Various factors such as growing e-commerce industry, increasing number of IoT devices, emergence of disruptive digital technologies across the industry verticals, and increasing demand for endpoint security are expected to boost the demand for endpoint security solutions and services across the globe.
However, endpoint security is not considered as comprehensive security measure especially by small and medium scale enterprises. This might restrain the market growth to a certain extent.
Also, some misconceptions and lack of knowledge about endpoint security solution is also posing some serious challenge to the proliferation of endpoint security solutions especially in developing nations.
Endpoint security serves a critical step in securing endpoint devices such as desktops, laptops, and mobile devices among others, that act as point of access to any structured network. Such endpoints can be vulnerable to malicious attacks.
Endpoint security has gained a greater importance over the years and has become a common part of individuals’ life those are associated with a computer or smartphone and smart devices.
Benefits of endpoint security technologies
Endpoint security technologies are packed with several benefits such as protection for vulnerable services; provide network security for internet, cloud security, and enhanced data privacy & policy enforcement. Endpoint security against online threats holds a greater significance in today’s digital changing landscape.
Increasing adoption of cloud computing, and IoT among others have changed the scenario of modern-day business needs by promoting maximum agility to achieve competitiveness. Due to this, the overall concerns associated with cyber-attacks, data breaches, and data thefts among others have also increased significantly in past few years.
Hence, endpoint security emerged as quintessential tool for organizations to minimize the problems associated with data security. In order to protect endpoint devices and information from security breaches and cyber -attacks, the implementation of endpoint security solutions is increasing across various business verticals, which is ultimately driving the growth of endpoint security.
The global endpoint security market is segmented
In 2020, the endpoint security solutions market segment is estimated to dominate the overall endpoint security market. The growing adoption of advanced technologies, such as IoT solutions, endpoint devices, and AI/ML solutions are driving the need for endpoint security solutions, in turn supporting the market growth.
Considering the rapid deployment of variety of connected devices across different business sectors, the demand for endpoint security solutions is expected grow to over the coming years as well, thereby registering the fastest growth in the endpoint security solutions segment throughout the forecast period.
Based on deployment type, the overall endpoint security market is mainly segmented into on-premises deployments and cloud deployments. On-premise solutions commanded a majority share of the endpoint security market, mainly due to greater control over security infrastructure offered by such solutions.
However, with growing deployments, particularly in small and medium scale industries, the cloud deployments market is expected grow at the fastest CAGR during the forecast period of 2020 to 2027. The benefits of flexibility, agility, and scalability offered by cloud-based security solutions is one of the key factors driving the growth in this market segment.
On the basis of industry size, the overall endpoint security market is segmented into small & medium size enterprises and large enterprises. The large enterprises segment is estimated to command the largest share of the overall endpoint security market in 2020.
However, with increasing deployment of IoT-enabled solutions, the small and medium scale enterprises segment is expected to grow at the fastest CAGR throughout the forecast period.
Based on the enforcement point, endpoint security is segmented into mobile devices, workstation, server, point of sale terminals, and others. The mobile devices segment is estimated to command the largest share of the overall endpoint security market in 2020.