Endpoint Security Market to Increase Gradually with a CAGR of 9.3% During the Forecast Period; Growing Application of Bring-Your-Own-Device (BYOD) Policy to Push Market Growth

The global endpoint security market size is estimated to display strong growth by reaching USD 30.29 billion by 2032. Fortune Business Insights™ in its report titled “Endpoint Security Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By Deployment (Cloud and On-premises), By User Type (Commercial and Consumer), By Enterprise Type (Large Enterprises and Small & Medium Enterprises), By End-use (BFSI, Telecom & IT, Retail, Healthcare, Government & Public Sector, Transportation, and Others), and Regional Forecast, 2024-2032” observes that the market size in 2023 stood at USD 13.60 billion and is expected to reach USD 14.86 billion in 2024. The market is expected to witness a strong CAGR of 9.3% during 2024-2032. Growing application of the Bring-Your-Own-Device (BYOD) policy is expected to propel the growth of the market. Increasing need for security solutions across diverse industries has enforced key players in the market to develop advanced security solutions.

Fortinet, Inc. Introduced FortiXDR, a Fully Automated Web Threat Intelligence Detection XDR Solution

New product launches by the market players are propelling the market. In January 2021, Fortinet, Inc. introduced FortiXDR, which is a fully automated web threat intelligence detection XDR solution. The increasing need for solutions is expected to acquire traction as a result of cumulative investments from countries such as Canada, Qatar, India, Spain, South Korea, Germany, France, Italy, and other countries.

Surge in the Number of Email Attacks Supported Market Growth

The COVID-19 propelled the demand for endpoint security solutions when work from home policy was implemented. There was a surge in the number of email attacks during the pandemic period. According to PWC research reports, cyber-attacks in India doubled in the starting three months in 2020. Similarly, the healthcare industry has been significantly affected owing to endpoint attacks during this period. According to the Fortified report, the healthcare industry reported 47% of data breaches during the first half of 2020.

Automated Responses Based on AI Technology to Positively Influence the Adoption of the Service

Automated responses based on AI technology are predicted to drive the endpoint security market growth. Artificial Intelligence (AI) solutions are used by the organizations against external threats and data breaches. Technologies, such as cloud services, and IoT, have become essential to provide improved endpoint protection. Various companies such as Cisco Systems, Inc., FireEye, Palo Alto Networks, and others have been offering AI-enabled security solutions to detect endpoint attacks.

However, as technology keeps evolving, continuous training to technical staff is quite expensive, particularly for SMEs, which is expected to hinder market growth.

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Market Players are Concentrating on Providing Advanced and Robust Endpoint Protection Solutions

Key market players such as Intel Corporation, VMware Inc., McAfee LLC, Sophos Inc., Palo Alto Network Inc., AO Kaspersky Lab, and others have been acquiring other companies to gain expertise. Further, players are concentrating on providing advanced and robust endpoint protection solutions by incorporating new technologies such as AI, machine learning, and others into their existing products. In January 2023, Ivanti partnered with Lookout, Inc. to expand its product portfolio by including Lookout Mobile Endpoint Security to offer end-to-end visibility and control over mobile devices and cloud services to curb the risk of a security breach.

Key Industry Development

• February 2023: ESET and intel partnered for enhancing the ESET endpoint security software technologies. The using Intel hardware-based ransomware protection to deliver security to businesses of all sizes.

List of Key Companies Profiled in the Report:

• BlackBerry Limited (U.S.)


• Cisco Systems, Inc. (U.S.)


• Palo Alto Network Inc. (U.S.)


• Fortinet, Inc. (U.S.)


• VMware, Inc. (U.S.)


• CrowdStrike (U.S.)


• AO Kaspersky Lab (Russia)


• Ivanti (U.S.)


• Trend Micro Inc. (Japan)


• Check Point Software Technologies Ltd. (Israel)


• Sophos Ltd (U.K.)

Further Report Findings

• The market in North America dominated the endpoint security market share with USD 5.10 billion in 2022. Growing usage of connected devices and rising penetration of IoT in A number of businesses are surging the demand for security solutions. Presence of various security solution providers in the U.S. is expected to gain momentum during the forecast period.

• Asia Pacific is set to have rapid growth owing to increasing budget across IT spending in various industries. Companies have been adopting AI, IoT, cloud, and other technologies to develop advanced security solutions.

Table of Segmentation