Endpoint Security Market Growing at a CAGR 7.6% | Key Player Microsoft, CrowdStrike, Symantec, TrendMicro, McAfee
The global Endpoint Security Market size is expected to grow from USD 12.8 billion in 2019 to USD 18.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. The increasing number of endpoints and Bring Your Own Devices (BYODs) among enterprises is one of the major drivers of the endpoint security market growth.
Large enterprises segment to hold a larger market size during the forecast period
The endpoint security market is segmented into large enterprises and Small and Medium-sized Enterprises (SMEs) by organization size. The large enterprises segment is expected to have a larger market size during the forecast period, due to the large volumes of data being generated by large enterprises and the increasing demand for real-time endpoint security solutions and services. However, the SMEs segment is expected to grow at a higher CAGR during the forecast period. Owing to the high availability of cost-effective cloud solutions, endpoint security solutions and services are expected to witness a prominent growth rate among SMEs during the forecast period.
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Among verticals, the retail and eCommerce vertical to grow at the highest CAGR during the forecast period
The endpoint security market by vertical is divided into 7 categories, namely, Banking, Financial Services and Insurance (BFSI), retail and eCommerce, telecommunication and IT, healthcare and life sciences, government and defense, manufacturing, and others (transportation and logistics, travel and hospitality, media and entertainment, and education). The retail and eCommerce vertical is expected to grow at a rapid pace during the forecast period, as there is an increase in the demand for controlling threats related to the financial transaction data, to achieve better buying experience and offer personalized marketing based on user privacy data.
Major endpoint security vendors include Microsoft (US), CrowdStrike (US), Symantec (US), TrendMicro (Japan), Sophos (UK), McAfee (US), Kaspersky (Russia), Carbon Black (US), SentinelOne (US), ESET (Slovakia), Cylance (US), Bitdefender (Romania), Cisco (US), FireEye (US), Panda Security (Spain), F-Secure (Finland), Palo Alto Networks (US), Check Point Software (Israel), Fortinet (US), Malwarebytes (US), Endgame (US), and Comodo (US). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global endpoint security market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2017 to 2019, which has helped them innovate their product offerings and broaden their customer base.
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Microsoft (US) offers built-in endpoint protection abilities that can be integrated with the Windows OS. The antivirus software named Windows Defender Antivirus (System Center Endpoint Protection in Windows 7 and 8) offers cloud-based attack protection. Microsoft Defender Advanced Threat Protection (ATP) offers an Endpoint Detection and Response (EDR) capability, which monitors and reports threats on Windows Defender Antivirus and Windows Defender Exploit Guard. The Microsoft Defender ATP incident response console combines alerts and incident response actions across Microsoft Defender ATP, Office 365 ATP, Azure ATP, and Active Directory, as well as incorporates data sensitivity from Azure information protection. Windows Defender is the most commonly used endpoint security solution used by several users worldwide. The defender is inbuilt in the Operating System (OS) and provides a first-level defense to the threats. Microsoft is focusing on improving its endpoint security solutions and consequently invested a huge amount of its revenue in R&D for developing new technologies and solutions. It has been increasing its focus and investments in integrating AI with its EPP offerings to enhance its endpoint security solutions. The company has developed Microsoft’s endpoint security strategy that focuses on protecting the OS, motivating other vendors in the ecosystem, and expanding the revenue stream. The company adopts a mix of organic and inorganic growth strategies to strengthen its market position. It plans to make huge investments in the endpoint security solutions to foster innovation and support its services. The company has a strong partner network, which supports its innovative concepts and helps maintain its competitive position in the endpoint security market.
Symantec (US) is a leading provider of threat protection, information protection, cybersecurity, web security, storage, and system management products and solutions across the globe. In the endpoint security market, Symantec helps in addressing advanced threats with limited resources to simplify endpoint protection and device management. In addition, the company offers consulting and education services, along with solutions for web filtering. Symantec endpoint security offers the most complete and integrated endpoint security solutions in the market. The platform can be deployed on both on-premises as well as the cloud interface. Its single-point interface manages all the traditional and mobile endpoint devices leveraging artificial intelligence and machine learning capabilities. The strategies of partnerships, acquisitions, and product enhancements are helping Symantec expand its customer base and market share in the endpoint security market. Recently, Symantec announced innovations and enhancements to its network security for the cloud generation solution that is designed to protect enterprise devices. This innovation would help protect enterprise devices across the network, the cloud, and mobile and traditional endpoints, wherever the employees work or travel. In November 2018, Symantec acquired 2 companies Appthority (US) and Javelin Networks (Israel) to strengthen its mobile and enterprise security products. In December 2017, Symantec and British Telecom (UK) partnered to provide the best-in-class endpoint security protection. The partnership would help BT customers encounter the rapidly changing threat landscape with consolidated, intelligent security infrastructure.
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