Meticulous Research® - leading global market research company published a research report titled “Endpoint Security Market by Component, Enforcement Point (Workstation, Mobile Devices, Server, Point of Sale Terminal), Deployment, Industry Size, End User (Aerospace & Defense, Government, BFSI, Healthcare, Manufacturing) - Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, the global endpoint security market is expected to grow at a CAGR of 5.9% from 2020 to 2027 to reach $18.6 billion by 2027. The market growth is majorly attributed to the factors such as exponential growth in endpoint devices, growing sophistication of endpoint attacks & breaches, and growing significance of endpoint security particularly in small and medium scale enterprises. The aforementioned factors are quite relevant to developed economies of North America and Europe. However, the trend of adopting endpoint security system is also growing rapidly in developing economies, ultimately supporting the market to grow with a considerable pace. However, several small and medium scale companies still do not perceive endpoint security as a comprehensive solution as well as misconception with respect to endpoint security floats among these industries. These are some of the key challenges obstructing the growth of the endpoint security solutions market. Besides, economic slowdown due to the global COVID-19 pandemic has also affected the growth of the endpoint security market.
The global endpoint security market study presents historical market data in terms of market value (2018 and 2019), estimated current data (2020), and forecasts up to 2027. The market is segmented on the basis of component (solution, services), enforcement point (workstation, mobile devices, server, point of sale terminal, and others), deployment (on-premises, cloud), industry size (SMEs, large enterprises), end user (aerospace & defense, government, BFSI, healthcare, manufacturing, retail, IT & telecom, and others), and geography. The study also evaluates industry competitors and analyses the market at a regional and country level.
Based on component, the endpoint security market is broadly segmented into solutions and services segment. The solution segment is estimated to command the largest share of the overall endpoint security market in 2020 and is also expected to continue its dominance over the coming years. The large share of this segment is majorly attributed to the growing economies in developing regions and rising number of cyberattacks cases. Rapid proliferation of digital transformation in the Asia Pacific, Latin America, and the Middle East & Africa boosted the demand for several endpoint terminals and consequently, the demand for endpoint security solutions is also increasing. Besides, new regulatory and government policies are also encouraging organizations to incorporate security solutions such as endpoint security, thereby supporting the market growth. As the concept of endpoint security is still quite new in most of the developing regions, the services segment has not picked-up the pace as it should have been. However, over the next few years, the endpoint service segment is expected to become a major contributor in the overall endpoint security market.
Based on enforcement point, the endpoint security market is segmented into the workstation, mobile devices, server, point of sale terminal, and others. The mobile devices segment is estimated to represent the largest share of the overall market in 2020 and is also projected to grow with the fastest CAGR during the forecast period. Rapid proliferation of mobile devices in organizational network is one of the major reasons for the segment’s highest market share. Mobile devices are quite vulnerable to attacks and hence, fortifying such terminals is on the high priority for any organization. Besides, new working concepts such as bring your own device (BYOD) and work from home policies are also expected to support the growth of the endpoint security market for mobile devices.
Based on industry size, the endpoint security market is segmented into SMEs and large enterprises. The large enterprises segment is estimated to account for the largest share of the overall endpoint security market in 2020, owing to greater adoption of mobile devices, laptops, and other end point devices and thereby increasing the demand for real-time endpoint security solutions and services. Strong financial backup and high reputation on stakes is also helping large organizations to claim majority of market share in endpoint security market. However, the market for small and medium scale organizations is expected to grow at the fastest growth rate over the coming years.
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Geographically, North America region is estimated to command the largest share of the global endpoint security market in 2020. The large share of this region is primarily attributed to the presence of developed economies in the region and their focus on incorporating innovating solutions. The region is determined to adopt endpoint security solutions in order to enhance their IT infrastructure and leverage the benefits of new technologies, such as 5G and IoT. However, Asia Pacific region is expected to grow with the fastest growth rate over the coming years.
The key players operating in the global endpoint security market are Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.), FireEye, Inc. (U.S.), WatchGuard Technology, Inc. (U.S.), McAfee LLC (U.S.), Panda Security (Spain), SOPHOS Ltd (U.K.), Comodo Security Solutions Inc. (U.S.), Carbon Black, Inc. (U.S.), Microsoft Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), and Check Point Software Technology Ltd. (U.S.), among others.
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