In a recent report by Transparency Market Research (TMR), the global endpoint security market is expected to witness an intense competitive environment as the vendor landscape of the market is highly fragmented. This is because of the presence of a number of vendors on the basis of small-scale, regional, and also large multi-national scale basis. Owing to the intense environment of competition in the market, all players focus on making clear value and unique propositions so that each company can claim their product and service different from the rest. Apart from that, well-established companies are also putting more emphasis on acquiring small-scale vendors so as to enhance their portfolio.
There is rise in the number of security threats with the increase in the number of connected devices like phones, tablets and laptops along with other wireless devices used especially in business industries. Endpoint security protects computer networks. The main purpose of endpoint security is basically to ensure that all such devices are made to follow a particular set of compliance standards. This will thereby, protect the computer networks and improve the security period as well.
Some of the leading players in the global endpoint security market are IBM Corporation, Kaspersky Lab, Microsoft Corporation, Trend Micro, and Webroot.
As per the TMR reports, the global endpoint security market is anticipated to display a 14% CAGR within the forecast period of 2017 to 2026. The valuation of the market during the aforementioned forecast period is of US$ 40,000 Mn by 2026.
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Asia Pacific to Witness Profitable Growth Opportunities with Trending BYOD in Cloud Computing
One of the major factors contributing to the growth of the global endpoint security market is the rise in adoption of unsegregated security suites. The players who provide integrated and converged security suites are more preferred by the end-users. An imperative buying criterion is being integrated with the rising complexity of network infrastructure. The provision of endpoint security solutions have therefore been commenced by all leading endpoint security vendors.
There is the urgent need to grow the ‘bring your own device’ or BYOD trend among various organizations so that the frequency of endpoint attacks can be increased. An important factor anticipated to boost the growth of the endpoint security growth is the need to diminish IT security risks. The market for endpoint security may proliferate in the coming years with the increasing adoption of cloud-based security solutions and rising demand for integrated endpoint security solutions.
In terms of geography, both Europe and North America are foreseen to be leading the endpoint security market in terms of revenue share. Among them, the European market will see a faster growth rate as compared to North America by the end of the forecast period. Besides that, Asia Pacific is also expected to witness profitable growth opportunities by the end of the forecast period. The growth of the market in Asia pacific for end-point security is assigned to the increasing trend of bring your own device and also the popularity surge in terms of cloud computing. Additionally, the increase in mobility is also providing assistance to the Asia Pacific market excluding Japan.
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Lack of Awareness about Cyberattacks Hinders Market Growth
A significant challenge for the growth of the endpoint security market is the continuous failure of controlling cyberattacks. Enterprises look out for security patches in order to fix bugs; however, security officials are unaware of it most of the time. Therefore, the menace of cyber-attacks targeting end-point devices is still continuing, thus posing a threat to the global endpoint security market. Moreover, the continuous upgrade in technology has not been quite successful.
End-point security traders are putting more efforts in order to minimize the upcoming challenges that may arise as a result of using internet from personal device. This is being done by installing end-point security solutions like firewalls in devices like tablets and smartphones.