Allied Market Research published a new report entitled: “Endpoint Security Market Size Growing at 8.4% CAGR Reach USD 31.9 Billion by 2031.” The report provides a comprehensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis and the competitive landscape. This study is a useful source of information for market players, investors, VPs, stakeholders and new entrants to gain a thorough understanding of the industry and determine the steps to be taken to gain competitive advantage.
The global endpoint security market was valued at $14.6 billion in 2021 and is expected to reach $31.9 billion by 2031, with a CAGR of 8.4% from 2022 to 2031.
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Driving factors
Factors such as the increasing use of ‘bring your own devices’ (BYOD) and the increase in the number of connected devices are driving the growth of the endpoint security market. However, the lack of skilled labor hinders market growth to some extent. Furthermore, the increase in adoption of AI-enabled automated responses is expected to provide lucrative opportunities for market growth during the forecast period.
Market segmentation
The endpoint security market is segmented based on solution type, deployment mode, business size, industry vertical, and region. Based on the solution type, it is split into an endpoint protection platform (EPP) and an endpoint detection and response (EDR). Based on the deployment mode, it is separated into on-premises and cloud. Based on company size, it is divided into large enterprises and small and medium enterprises (SMEs). On the basis of vertical sector, it is divided into IT & Telecom, Healthcare, Manufacturing, BFSI, Retail & E-Commerce, Government & Defense, and others. Based on region, it is analyzed in North America, Europe, Asia Pacific and LAMEA.
The global endpoint security industry is dominated by key players such as Microsoft Corporation, CrowdStrike, Check Point Software Technologies Ltd., Cisco Systems Inc., Trend Micro Incorporated, Broadcom, AO Kaspersky Lab, SentinelOne, McAfee, LLC, and Comodo Security Solutions, Inc.. These players have adopted various strategies to increase their market penetration and strengthen their position in the endpoint security industry.
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Asia Pacific Gained the Largest Share in 2021-
By region, North America achieved the highest share in 2021, accounting for more than a third of global endpoint security market revenues in 2021, and is expected to maintain its dominance through 2031. The Asia Pacific region is also projected to exhibit the fastest CAGR of 10.7% during the forecast period, driven by the rapid growth of technologies such as AI, IoT, connected devices and cloud services. Asia Pacific.
The endpoint protection platform segment that rules the market
By solution type, the endpoint security platform segment held the largest share in 2021, generating more than two-thirds of global endpoint security market revenue. The endpoint detection and response segment would also show the fastest CAGR of 10.4% during the forecast period, driven by real-time continuous monitoring and collection of endpoint data with rules-based automated response and analytics capabilities.
The on-premise segment will dominate throughout the forecast period
By deployment mode, the on-premise segment held the largest share in 2021, generating approximately two-thirds of global endpoint security market revenue. The cloud segment would also show the fastest CAGR of 10.3% during the forecast period, thanks to the flexibility and financial benefits that cloud services bring.
The large enterprise segment will maintain its leading position during the forecast period –
By company size, the large enterprise segment held the largest share in 2021, generating more than three-fifths of global revenue in the endpoint security market. The small and medium enterprises (SME) segment would also show the fastest CAGR of 10.1% during the forecast period, driven by a surge in the number of SMEs in the Asia-Pacific region, including China, Japan and India.
The IT and telecom segment will dominate in 2031
By vertical sector, the IT and telecom segment accounted for more than a fifth of the global endpoint security market share in 2021. The healthcare segment would also show the fastest CAGR of 10.2% throughout the forecast period, driven by safer, faster and easier interactions between medical professionals and their medical assistants.
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Covid-19 scenario-
● Complete lockdown, social isolation and quarantine, and other pandemic response tactics negatively affected several global industries, including part of the IT security sector.
● In early 2021, the impact of the COVID-19 outbreak on the global endpoint security market was particularly felt in China, as the country is one of the world’s largest producers and consumers of endpoint devices such as smartphones, PCs and tablets.
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