Endpoint Security Market growth is attributed to the rise in the incidents of massive cyber-attacks on government and private IT networks around the world, potentially threatening national security and the privacy of critical public information. Due to frequent cyber-attacks, such as Shadow Brokers, WannaCry, and Petya, government and private organizations are increasingly deploying security solutions to protect their IT infrastructure. Also, with the growing popularity of the BYOD among enterprises around the world, the need to secure different types of mobile devices used in enterprise networks is leading to the rapid deployment of antivirus/antimalware solutions by organizations worldwide.
The BFSI endpoint security market will exhibit high growth over the forecast timeline owing to stringent government regulations around the world demanding the highest level of security for customers’ financial records stored and retrieved through the IT networks of financial institutions. As such networks are the prime targets of hackers for ransomware attacks, the demand for advanced and robust malware protection solutions from the BFSI sector is expected to increase rapidly over the forecast period.
endpoint security market in software segment held a market share of over 80% in 2016 due to the large-scale deployment of protection solutions such as intrusion prevention systems, antivirus systems, and endpoint application control systems by enterprises to prevent malicious threats from infecting enterprise networks. The service market is expected to exhibit a promising growth over the forecast timeline as associated services ensure timely updates and maintenance to enable the protection from constantly evolving threats.
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Endpoint security has become a major layer of security as it is software based and is targeted towards user devices like laptops, computers, smartphones and tablets. Therefore, the government has also enforced stringent norms to protect financial data, urging institutions to adopt such a host-based solution. This indeed led the BFSI sector to hold the largest share in endpoint security market in 2016 and lay the groundwork for further progress over 2017-2024.
The latest trends in cybercrime rely heavily on social engineering, using legitimate software as cyber weapon, ranging from spam to phishing. Leading endpoint security industry players like Symantec, Kaspersky, McAfee, Microsoft, Trend Micro, Comodo, Cisco, and Panda Security are therefore continually upgrading and expanding their scope through research and development programs to keep pace with the changing dynamics of cyber threats.
North America will hold the majority share in the endpoint security market by 2024 due to favorable government initiatives to adopt effective security solutions to mitigate the threats arising out of frequent cyber-attacks on public as well as private IT networks in the U.S.
The California based company has also announced a new security operations architecture which would enhance McAfee Advanced Threat Defense and McAfee Investigator. It would be prudent to mention that the entire solution has been installed in the latest fusion centers. Apparently, the efforts being deployed by McAfee to strengthen its position in endpoint security industry would prove to be of immense help in laying out a robust blueprint for successfully implementing complex security operations in real time.
Asia Pacific endpoint security market is expected to exhibit the fastest growth between 2017 and 2024 owing to the increasing initiatives by government bodies to modernize and strengthen the IT infrastructure in countries including India and China. With growing awareness regarding the need for addressing malware security vulnerabilities, the adoption of protection solutions is expected to increase swiftly over the timeline.
The latest trends in cybercrime rely heavily on social engineering, using legitimate software as cyber weapon, ranging from spam to phishing. Leading industry players in endpoint security market like Symantec, Kaspersky, McAfee, Microsoft, Trend Micro, Comodo, Cisco, and Panda Security are therefore continually upgrading and expanding their scope through research and development programs to keep pace with the changing dynamics of cyber threats. This provides an apt demonstration of the efforts being undertaken to innovate highly advanced and efficient products in this business space. As per estimates, endpoint security industry size has been forecast to be pegged at $7.5 billion by 2024.