Rapid Surge in Endpoint Devices Drives Unprecedented Growth in Endpoint Security Market - 2031

A surge in the use of bring-your-own devices (BYOD) and the rise in several connected devices drive the growth of the global endpoint security market.

PORTLAND, PORTLAND, OR, UNITED STATES, December 7, 2023 /EINPresswire.com/ -- In a recent report by Allied Market Research titled "Endpoint Security Market," it is revealed that the market reached a value of $14.56 billion in 2021 and is projected to reach $31.9 billion by 2031, with a compound annual growth rate (CAGR) of 8.4% from 2022 to 2031.

Endpoint security plays a crucial role in safeguarding devices such as computers, laptops, and mobile devices, serving as a gateway to structured networks. This technology offers several advantages, including protection for vulnerable services, enhanced network security for cloud and internet usage, and improved data privacy and policy compliance. Over the years, the significance of endpoint security has grown substantially, becoming an integral part of daily life for individuals with smartphones, computers, and smart devices. Organizations now face increased risks from organized crime, insider threats, hacking, and rapid digitization across sectors, making endpoint security the frontline defense in cybersecurity.

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As organizations prioritize securing their corporate networks, endpoint security becomes a top consideration. The anticipated rise in Bring Your Own Device (BYOD) policies is expected to drive market expansion. The development of endpoint solutions involves cutting-edge technologies such as cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and interconnected devices. Market leaders are responding to growing demand by innovating advanced security solutions. For example, in October 2019, Symantec Corporation introduced an upgraded version of its endpoint solution with advanced detection, protection, and response features consolidated into a single solution.

Factors contributing to the growth of the endpoint security market include the increased use of BYOD and a rising number of connected devices. However, market growth is hindered to some extent by a shortage of skilled workers. Additionally, the adoption of AI-enabled automated responses presents lucrative opportunities for the forecasted market growth.

The significant growth in the endpoint security market can be primarily attributed to the exponential increase in the number of endpoint devices, the continuously rising and sophisticated nature of attacks and breaches targeting endpoints, and a corresponding surge in the demand for high-security solutions to counteract these threats. Additionally, the emergence of disruptive technologies like IoT, AI, ML, and Big Data, along with efforts to mitigate IT risk and the dynamically evolving regulatory landscapes, further contribute to the expansion of the endpoint security market.

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Impact of COVID-19 on the Endpoint Security Market:

The COVID-19 pandemic has had a detrimental impact on economies worldwide, affecting various industries, including a segment of the IT security sector. Measures taken to combat the pandemic, such as widespread lockdowns, social distancing, and quarantine, have significantly influenced how people work and learn. The shift to remote work and virtual learning has made enterprise virtual private network (VPN) servers crucial for organizations and institutions. However, this rapid adoption of new approaches has also increased the cyber risks and threats faced by these entities. As employees work from home and students engage in virtual learning, there has been a notable increase in attacks, particularly on corporate emails. Cybercriminals have exploited the pandemic by creating fake COVID-19-related websites, enticing individuals with false propositions in exchange for personal information. A striking example is the surge in spear phishing email attacks related to COVID-19, which has witnessed a staggering 667% increase since the end of February.

Regarding end-users, the IT and telecom segment dominated the market in 2021 and is expected to maintain its dominance, driven by the widespread use of mobile devices. The healthcare segment is poised for the highest growth, as endpoint security gains popularity in the industry for providing end-to-end security for patient data, cost advantages, and user-friendly networking features, facilitating safer and more efficient interaction among medical professionals and their assistants.

Region-wise, the endpoint security market size was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to the increased number of connected devices in use that has also increased the security risks faced by organizations. However, Asia-Pacific is expected to witness the highest growth in the upcoming years, owing to rapid growth in technologies such as AI, IoT, connected devices, cloud services is attributed to the high demand of high endpoint device protection in Asia-Pacific. Key players in the Asia-Pacific region are adapting strategies such as acquisition and collaboration to improve endpoint security market analysis.

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Some of the prominent players in the global endpoint security market include:

• Broadcom
• Trend Micro Incorporated
• Sophos Ltd.
• Microsoft
• AO Kaspersky Lab
• Panda Security
• F-Secure
• IBM Corporation
• McAfee, LLC.
• ESET, spol. s r.o.
• Cisco Systems, Inc.
• Bitdefender
• CrowdStrike,
• Check Point Software Technologies Ltd.,
• SentinelOne,
• Comodo Security Solutions, Inc

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