PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1402420
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1402420
The global endpoint protection platform market has experienced significant growth with a projected revenue of approximately USD 7.01 billion in 2023; the market is forecasted to reach a value of USD 15.14 billion by 2031, displaying a CAGR of 10.1% from 2024 to 2031.
The endpoint protection platform market refers to the technology and solutions designed to secure and protect endpoints such as computers, laptops, smartphones, and other devices within an organization's network from various cybersecurity threats. These threats can include malware, viruses, ransomware, phishing attacks, and other malicious activities. They offer device control, data loss prevention, and patch management features. EPP solutions play a pivotal role in identifying threats through various methodologies, including sandboxing, static analysis, allowlisting and denylisting, signature matching, and behavioral analysis.
The growing adoption of cloud based EPP solutions contributes to the market's growth. Cloud-based EPP solutions offer several advantages over traditional on-premises solutions, such as scalability, flexibility, and lower cost. The increasing number of cyberattacks is one of the key drivers of the EPP market. For instance, according to a report by the Cybersecurity and Infrastructure Security Agency (CISA), there were over 800 million cyberattacks in 2021. These attacks resulted in billion-dollar losses for businesses and organizations.
The increasing adoption of cloud computing is driving the growth of the endpoint protection platform market. Cloud computing introduces new security risks that organizations need to address. Endpoint service providers help organizations to mitigate these risks by providing security services for cloud-based applications and data. They provide various security services, such as threat intelligence, vulnerability management, and incident response. Many organizations are utilizing multi-cloud and hybrid cloud models for their operations. This complex landscape requires comprehensive security measures across various endpoint security platforms, making it invaluable in ensuring consistent protection.
For example, Azure launched Azure Synapse Link for Databricks in January 2022. This service allows businesses to connect Azure Synapse Analytics and Databricks to simplify the development and deployment of data pipelines. Azure launched Azure Arc for Serverless in February 2022. This service allows businesses to deploy serverless applications of data center.
The rapid adoption of the bring your own device (BYOD) model has a significant impact on the endpoint protection platform market. BYOD allows employees to use their personal devices for work purposes, which can introduce new security risks. BYOD devices add a new attack surface to the corporate network. These devices are not always managed by the IT department, which means they may not require them to be updated with the latest security patches. EDR solutions help to detect and respond to malware threats on BYOD devices. EDR solutions are used to scan devices for malware, block malicious traffic, and quarantine infected devices.
Additionally, as per HP, Inc., 41% of global remote workers acknowledged access to client data in the previous year. Operational data, financial records, and human resource information frequently become accessible while working remotely. The absence of protection from the corporate firewall for decentralized employees resulted in vulnerabilities within IT security. Such circumstances are expected to contribute to an increased demand in the market.
The surge in cybercrimes within the region is creating favorable circumstances for expanding endpoint protection solutions. In 2020, a cyberattack was reported by Japanese video game giant Capcom. The incident involved Capcom facing a ransom demand of USD 8.8 million in exchange for the restitution of stolen assets, which the company declined to fulfill. Nonetheless, suspicions pointed towards a Russian cybercriminal faction known as Ragnar Locker as the orchestrator behind the appropriation of approximately 350,000 sensitive documents.
For example, in November 2022, Seqrite introduced an upgraded version of its flagship product referred as End Point Security 8.0 (EPS 8.0) designed to fortify connected devices against cyber threats. Seqrite asserted that this release enhanced the system's capacity for efficiently managing a substantial volume of endpoints, specifically catering to the SME sector, aiding clients in minimizing the necessary deployment area and associated responsibilities. The newer version of the product encompassed real-time protection for Linux systems, along with an expanded range of compliance reporting features tailored for regulators, auditors, and customers.
Government initiatives play a significant role in shaping the endpoint protection platform market. They are implementing and promoting various policies of network security at the global level. These initiatives often focus on data security, privacy regulations, and standardization to build trust and confidence among businesses and consumers. Governments are investing in cloud infrastructure development, offering incentives, and creating supportive regulatory frameworks to encourage cloud adoption and stimulate innovation. Notably, the Reserve Bank of India has recently allocated USD 80 million to enhance the deployment of endpoint payment terminals in rural areas, with a particular focus on states situated in the Northeast region of the country. These strategic initiatives are poised to propel market growth.
The COVID-19 pandemic had a significant impact on various industries, including the cybersecurity sector and the global endpoint protection platform market. The implementation of lockdown measures by numerous governments has exerted a favorable influence on the acceptance of endpoint protection platform solutions. After COVID-19 impact, enterprises are directing their attention towards sophisticated measures that enable contactless operations while ensuring safety and security. Industries spanning BFSI, healthcare, government, and others, are leveraging technologies such as AI-powered solutions, computational advancements, automation, and cloud-based endpoint detection and response to facilitate their operations. As businesses continue to undergo digital transformation, the need for a dependable EPP solution becomes increasingly prominent. The solution is anticipated to be seamlessly integrated with AI capabilities while offering real-time reporting functionalities.
The Russia-Ukraine war has indirect implications for global endpoint protection platform market. Geopolitical tensions influenced the cybersecurity landscape as nation-states engage in cyber warfare. In this context, the conflict led to an increase in cyber threats, with state-sponsored actors leveraging advanced techniques to compromise endpoints for intelligence gathering or disruption. As governments and businesses in the region bolster their cybersecurity defenses, there is a potential ripple effect on the EPP market. Increased demand for robust endpoint protection solutions arise as organizations seek to fortify their digital infrastructure against cyber-attacks originating from the geopolitical tensions.
Moreover, the war prompted a re-evaluation of global supply chains and cybersecurity strategies. Organizations worldwide might prioritize EPP solutions that offer enhanced threat detection and response capabilities, anticipating a heightened risk environment. The market witnessed shifts in vendor preferences and investments as cybersecurity becomes a focal point amid geopolitical uncertainties.
The top players operating in global endpoint protection platform market are: Broadcom, Inc., HCL Technologies Limited, Microsoft Corporation, Google LLC, Honeywell International Inc., Cisco Systems, Inc., Oracle Systems Corporation, VMware Inc., Amazon Web Services, and Palo Alto Networks, Inc., etc.
The global endpoint protection platform market is witnessing a swift growth trajectory due to the increasing emphasis placed by companies worldwide on establishing advanced managed security infrastructure. Furthermore, the market expansion is greatly facilitated by the establishment of proper cloud infrastructure, along with significant investments made by companies to enhance research and development resources, engage in collaboration projects, bolster marketing efforts, and expand distribution networks. These factors collectively contribute to the rapid expansion of the market.
In June 2022, AWS Managed Services (AMS) Accelerate introduced a novel cloud operation offering designed to facilitate endpoint operational excellence for customers, regardless of their current stage in the cloud journey. Accelerate possesses the capability to manage a diverse range of workloads operating within AWS, all while granting customers the utmost flexibility to leverage the entire spectrum of AWS services. This dynamic approach harnesses AWS services for both operational and security functions, employing tools such as AWS Systems Manager, Amazon CloudWatch, Amazon GuardDuty, and AWS Config.
In October 2021, Kaspersky, a prominent global cybersecurity firm specializing in endpoint protection, has successfully acquired Brain4Net, an emerging company at the forefront of developing solutions for integrating modern technologies like software-defined wide-area network (SD-WAN) and network functions virtualization (NFV) into existing network infrastructure. The accomplished team from Brain4Net is now a part of Kaspersky, contributing significantly to the development of Kaspersky's robust network security strategy, including the creation of a secure access service edge (SASE) and an evolved extended detection and response (XDR) offering.
Through this strategic acquisition, Kaspersky aims to introduce a groundbreaking SASE offering to the market, presenting a unified platform that seamlessly combines Kaspersky's top-tier security solutions with Brain4Net's expertise in network orchestration and control. This moves positions Kaspersky to provide enterprise customers with comprehensive security and connectivity services. Additionally, the acquisition facilitates the evolution of Kaspersky's existing solutions into a full-scale XDR framework. SASE integration brings distinct advantages to XDR, enabling telemetry collection from network traffic, the ability to halt attacks anywhere across the edge and the network, and simplified orchestration and management through a centralized control point within SASE.
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Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.