Increasing Adoption of Cloud-Based Security Solutions is Promising Ample Opportunities for the Global Endpoint Security Market Growth
The global endpoint security market is estimated to grow at a significant growth rate of10.1% during the forecast period.One of the major factors contributing to the growth of the global endpoint security market includesthe increasing adoption of cloud-based services. There is increased adoption of cloud-based services owing to flexibility and cost-effectiveness. For instance, in the European Union, the demand for cloud-based services among enterprises has been growing significantly.
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According to Eurostat, 26% of EU enterprises used cloud computing in 2018, primarily for e-mails and storage of files. Finland has the highest adoption of cloud computing services in Europe and accounted for 65.3% in 2018. Later, Sweden, Denmark, and Norway attracted significant share in 2018 with 57.2%, 55.6%, and 50.7%, respectively.This shows the rising adoption of cloud computing services by small and medium-sized enterprises (SMEs).
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Rising Trend of BYOD is Further Fueling the Demand for Endpoint Security Solutions Across Major Industry Verticals
For successful implementation of the BYOD policy, organizations need an effective cloud platform that allows employees to safely access data from their own devices and at the same time ensures the safety of the company’s data. Therefore, the increasing trend of BYOD and enterprise mobility is estimated to develop growth opportunities for the global endpoint security market.
While using endpoint security solutions can reduce the risk of lost or stolen data, it's important to note that technology is not a one-stop solution for solving enterprise mobile security challenges. Furthermore, BYOD brings needed flexibility for companies, which can be a solution to boost the productivity of employees with strong preferences to use their own devices. This, in turn, is fueling the market growth of the global endpoint security market.
A Significant Number of Data Breaches Would Increase the Adoption of Endpoint Security Solutions
According to Identity Theft Resource Center (ITRC), data breaches are an ever-increasing threat to every industry, with the number of the US data breach incidents tracked in 2017 hitting a new record of 1,579 breaches. It is a 44.7% increase over 2016’s record-breaking numbers. Of the data breaches reported in 2017, 8.5% involved the financial sector, such as banks, credit unions, financial services, credit card companies, investment firms, mortgage and loan brokers, payday lenders and pension funds.
Moreover, an increasing data breach has been reported in the healthcare sector. As per the Center for Internet Security, for healthcare agencies, the average cost of data breaches to the healthcare industry is $355 in the US. Such data breaches surge the need for security solutions in order to protect the data from foreign threats; thereby, expanding the global endpoint security market size.
Current Market Trends Covered in the Global Endpoint Security Market Report
• themode of deployment, the on-premises segment is estimated to hold adominating market share during the forecast period.
• Based on the industry vertical, the BFSI segment held the largest market share in the global endpoint security market in 2018.
• North America is estimated to dominate the global endpoint security industryduring the forecast period.
Global Endpoint Security Market Segmentation
By Solution
• Anti-Virus
• Anti-Spyware
• Firewall
• Others
ByMode of Deployment
• On-Premises
• Cloud
ByIndustry Vertical
• BFSI
• Government and Defense
• IT & Telecom
• Retail
• Healthcare
• Others
Global Endpoint Security Market – Segment by Region
North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa
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