Endpoint Security Market to Cross US$ 10,026 MN by 2026, Growing Adoption of Work from Home Services to Favor Growth: Fortune Business Insights -…

Pune, June 09, 2020 (GLOBE NEWSWIRE) -- As per a recent report, organizations have reported more than 15% of endpoint attacks as compared to the last year. Fortune Business Insights in a report, titled Endpoint Security Market Size, Share and Global Trend By Component (Software, Services), By Deployment (On-Premise, Cloud), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By End-Use Industry (BFSI, Telecom & IT, Retail, Healthcare, Government & Public Sector, Transportation, and Others) and Geography Forecast till 2026 predicts that the market is anticipated to exhibit a CAGR of 8.4% through the forecast years. The market was valued at US$ 5,304.5 MN in 2018 and is projected to reach US$ 10,026.9 MN by 2026. Increasing number of data breaches in organizations is propelling growth in the market. Moreover, rising number of unknown and new attacks regarding endpoint networks is compelling organizations to adopt endpoint security systems, thus increasing the endpoint security market share.

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Increasing Deployment of IoT Devices to Enable Growth in North America

Among regions, North America is anticipated to lead the global endpoint security market during the forecast period. The market was valued at US$ 2,121.2 Mn in 2018. This increasing growth is attributable to the presence of well-recognized players in the region. In addition to this, the increasing deployment of internet of things (IoT) devices across several industries is a potential growth contributor. The rising support from the U.S. federal government manages cybersecurity policies to support agencies improve the resiliency and safety of governments networks and systems.

Following North America, Europe is expected to grow at a healthy CAGR during the forecast years. Majority of the endpoint security market revenue is expected to come from Germany, France, and the U.K. as these countries are increasingly adopting endpoint security solutions. The market in Asia Pacific is estimated to grow at a rapid pace owing to the rising adoption of endpoint security devices across organizations. The rising awareness about endpoint security software in small and medium scale enterprises is propelling the endpoint security market growth.

Healthcare Institutions to Install Endpoint Security Systems to Counter Increasing Cyberattacks

Several organizations are allowing their employees to bring their own devices. The increasing trend of BYOD is creating threat to security in work areas and creating a risk to security. Considering this, endpoint security tools play a crucial role by eliminating the risk of security threat. This, together with rising adoption of IoT and escalating demand for smart devices, is likely to increase the endpoint security market size by 2026.

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At 7.4%, retail sector is likely to expand in the global endpoint security market. However, some industries such as government and public sector, BFSI, and telecom and IT are projected to cover half of the share in the market, said a lead analyst at Fortune Business Insights. Also, healthcare industry is witnessing demand for endpoint security software owing to the increasing number of threats from cybercriminals, he added. These cybercriminals have put patients lives at risk by installing malware and hijacking important data. Hence, the sector needs deployment of robust endpoint security systems to ensure a safe and secure IT ecosystem. Moreover, in healthcare sector there has been a persistent increase in the communication among stakeholders. This, in turn, has increased the pace of information flow, thereby rising the risk of malwares in the system. The rising demand for endpoint security solutions among sectors is expected to foster the endpoint security market revenue in the forthcoming years.

Majority of the Key Players Headquartered in North America

With the emergence of technologies such as Industry 4.0, big data, AI, and others, the concerns associated with data security and privacy are increasing. There are high chances of data breach, which fuels demand for endpoint security systems.

Majority of the leading players are headquartered in North America. These players are continuously upgrading their applications to offer security for endpoint security attacks. On 2018, Symantec develops a new IT management suite called ITMS 8.5. This suite offers a flexible, customized, and real-time solutions to manage endpoint security.

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Endpoint Security Market to Cross US$ 10,026 MN by 2026, Growing Adoption of Work from Home Services to Favor Growth: Fortune Business Insights -...