Endpoint Security Market size to record USD 12.76 billion growth from 2023-2027, Strategic partnerships and acquisitions among vendors is one of the key market trends, Technavio

NEW YORK, April 19, 2024 /PRNewswire/ -- The global endpoint security market size is estimated to grow by USD 12762.74 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 16.99% during the forecast period.  In the endpoint security market, large enterprises face intense competition from vendors. Strategic partnerships and acquisitions with technology and platform providers expand geographical reach and access to expertise. For instance, WatchGuard's acquisition of Panda Security broadened its security platform, offering network and user perimeter protection. Keywords: large enterprises, endpoint security, acquisitions, partnerships, network security, user perimeter, geographical expansion, technological expertise.

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Innovation Sparks Market Growth:

In the dynamic Endpoint Security Market, large enterprises face increasing threats from cyberattacks, particularly in sectors like healthcare, retail, transportation, and government (B2G). Advanced connected devices expand the attack surface, necessitating advanced security solutions. Vendors, including IT security specialists, engage in strategic partnerships and acquisitions to expand geographically and access technological expertise. For instance, WatchGuard Technologies' acquisition of Panda Security. This merger enables WatchGuard to offer a comprehensive security platform, spanning networks and endpoints. Key challenges include dealing with ransomware, phishing, and network entry points, which put internal data at risk. Adopting advanced security solutions, such as FortiXDR's Adaptive Protection, and staying updated on emerging technologies like Artificial Intelligence, Internet of Things, and cloud security, are crucial for businesses to mitigate risks and maintain data security standards (PAQSA, Data Security Standard, VAT). Mandiant, a leading cybersecurity firm, reports an exponential trend in cyberattacks, emphasizing the need for frontline solutions like FortiXDR's Component segment (Services) and emerging technologies to counteract these threats. Exchange rates and internet penetration also impact market growth. ARIMA and exponential trend smoothing are useful tools for forecasting market trends. The B2C and B2B sectors are significant markets, with endpoint devices being major targets for viruses.

Addressing Challenges:

The Endpoint Security Market is experiencing significant growth due to escalating concerns over breaches, particularly from email attacks. According to PWC, cyberattacks have increased by 38% in 2022, with malware and zero-day attacks being major concerns. Advanced endpoint security solutions, including Automated Responses and Machine Learning, are being adopted to proactively hunt for threats and perform behavior matching. However, these solutions have limitations, and attackers continue to exploit new vulnerabilities, such as linkages between malware and network abnormalities. AI-powered mechanisms, trigger alerts, and malware baselines are essential features of next-generation endpoint security solutions. Companies like BlackBerry Cylance use Generative AI and virtual scenarios to analyze new file malware attack samples and prevent virus infections. Remote location servers and networking connected devices are also endpoints that require protection from network attacks. Digitalization and industrial control systems, including smart sensors, are increasingly becoming targets. Endpoint solutions must be scalable and easy to implement for both commercial and consumer segments. The Services Segment, including managed services and expert services, is a significant contributor to the market's growth. Large organizations are predominantly adopting on-premises solutions, while the cloud segment is gaining popularity for its ease of deployment and commercial appeal. Unknown cyberattacks continue to pose a challenge, requiring ongoing digital skills training for security personnel.

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Analyst Review

In the dynamic landscape of IT security, the Endpoint Security Market plays a crucial role in safeguarding internal data from cyberattacks. These solutions focus on network entry points, particularly in the retail sector, where internet penetration and exponential trend smoothing techniques are essential for detecting and mitigating risks. VAT and Cyber Security regulations, including Data Security Standard (DSS) and PAQSA, mandate robust endpoint security services to protect against cyberattacks and maintain compliance with GDP. The cloud further expands the endpoint security market, offering advanced capabilities to secure data and services across various platforms.

Market Overview

The Endpoint Security market is a critical segment of the cybersecurity industry, focusing on protecting digital devices and networks used by organizations and individuals. With the increasing number of remote workforces and the rise of advanced threats, the demand for robust endpoint security solutions has never been greater. These solutions include antivirus and malware defense, firewalls, intrusion prevention systems, and endpoint detection and response (EDR) technologies. Cloud-based endpoint security is also gaining popularity due to its flexibility and scalability. The endpoint security market is expected to grow significantly in the coming years, driven by the increasing adoption of cloud computing, the proliferation of IoT devices, and the evolving threat landscape.

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Key Companies:

Endpoint Security Market  is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Endpoint Security Market report includes information on the product launches, sustainability, and prospects of leading vendors including AO Kaspersky Lab, BlackBerry Ltd., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., CrowdStrike Holdings Inc., ESET Spol Sro, F Secure Corp., Fortinet Inc., Malwarebytes Inc., McAfee LLC, Microsoft Corp., Musarubra US LLC, Palo Alto Networks Inc., SC BITDEFENDER SRL, SENTINELONE INC., Sophos Ltd., Trend Micro Inc., VMware Inc., WatchGuard Technologies Inc.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio