CHICAGO, Jan. 9, 2020 /PRNewswire/ -- According to a new research report "Endpoint Security Market by Solution (Endpoint Protection Platform and Endpoint Detection and Response), Service, Deployment Mode, Organization Size, Vertical (Healthcare, Retail and eCommerce, and Government), and Region - Global Forecast to 2024", published by MarketsandMarkets™, 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.
Major factors fuelling the market growth are growing number of endpoint devices and Bring Your Own Device (BYOD) trends in enterprises, reducing the losses accrued due to endpoint attacks, IT risk mitigation, and central management of the endpoint protection strategy.
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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.
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.
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North America to hold the largest market size during the forecast period
North America is the most significant revenue contributor to the global Endpoint Security Market. The region is witnessing significant developments in the endpoint security industry. Several endpoint security solution providers in North America are experimenting by integrating advanced technologies, such as Artificial Intelligence (AI) and Internet of Things (IoT), with their existing endpoint security solutions. Industries and government organizations in North America are investing heavily in security solutions and services to combat cybercrimes. Growing trends, such as BYOD, IoT, Internet of Everything (IoE), and Industrial Internet of Everything (IIoE), have resulted in tremendous growth in this region. They are also adopting various growth strategies to strengthen their positions in the overall market.
Major North American vendors in the Endpoint Security Market are 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).
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