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The global endpoint security market size is projected to reach USD 22.40 by the end of 2027. The increasing internet penetration and the growing smartphone adoption will bode well for market growth. According to a report published by Fortune Business Insights, titled “Endpoint Security Market Size, Share & COVID-19 Impact Analysis, By Component (Software, and Services), By Deployment (Cloud, and On-Premises), By End-user (Commercial, Consumer), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Industry (BFSI, IT and Telecommunications, Retail, Healthcare, Government & Public Sector, Transportation, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 11.96 billion in 2019 and will exhibit a CAGR of 8.2% during the forecast period, 2020-2027.
Endpoint security is a solution that is used to protect endpoints for end user devices from malicious attacks. These solutions can protect all the devices that are connected in a cloud network. Recent advances in end-point security have led to a wider product adoption across the world. The increasing number of IT organizations across the world has created the platform for endpoints security manufacturers. The growing trend of work from home policies implemented by large scale organizations will also create the need for efficient security measures. The increasing number of cyber-attacks, coupled with the losses incurred due to these attacks, has created a massive awareness among IT organizations and other businesses using online platforms towards the adoption of endpoint security solutions. The presence of several large scale companies in this sector will provide impetus to the growth of the market in the coming years.
McAfee’s AI-based McVision is a Major Highlight of Recent Years
The report highlights a few of the major industry developments of recent times and discusses their impact on the Global market. The rising demand for this type of security has resulted in a healthy market competition across the world. Accounting to healthy market competition companies are looking to implement strategies that will help them establish a stronghold even in a competitive space. it is observed that product innovations are an increasing trend among major companies. In June 2020 McAfee announced the launch of a new product in the endpoint security space. The company introduced ‘McVision,’ a product that is integrated with AI solutions to block and report actionable threats. Through this product the company will look to offer proactive solutions to its users and subsequently enhance the end-point security platform. McAfee’s latest product will not just benefit the company but will also emerge in favor of growth of the overall market.
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Rising Implementation of BYOD will Emerge in Favor of Market Growth
The increasing trend of bring your own device (BYOD) across the world has created the need for efficient security solutions. In addition to this the increasing internet penetration across the world and the increasing number of interconnected devices leaves these platforms exposed to cyber threats and malware. The aforementioned factors have had a massive impact on the growth of the overall market in recent years.
Major Companies are Looking to integrate advanced concepts in endpoint security solutions
The healthy market competition has encouraged companies to adopt newer strategies that will help them stand out in the competitive space. Accounting to increasing market competition several major companies are looking to integrate concepts such as AI and IoT in their endpoint security products. The use of such concepts widens the application scope of the product, subsequently leading to a wider adoption across the world.
List of companies profiled in the report:
The global market is segmented on the basis of:
Value (USD billion)
By Enterprise Size