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The Global Endpoint Security Market is poised for substantial growth, driven by the critical need to protect an expanding array of devices critical to contemporary business operations. Anticipated to escalate from USD 16.3 billion in 2023 to USD 36.5 billion by 2033, this market is expected to witness a Compound Annual Growth Rate (CAGR) of 8.4% throughout the forecast period from 2024 to 2033. This remarkable growth trajectory underscores the increasing reliance of businesses on digital infrastructure and the corresponding imperative to safeguard these assets against ever-evolving cyber threats.
The endpoint security market is characterized by its comprehensive approach to securing various devices such as laptops, mobile phones, desktops, and tablets against cyber-attacks and malicious threats. This necessity has become even more pronounced with the proliferation of endpoints stemming from the widespread adoption of remote work models, digital transformation initiatives, and the increasing integration of Internet of Things (IoT) devices within business processes.
Key drivers propelling the growth of the endpoint security market include the escalation of endpoint attacks and breaches, the rising costs incurred due to these attacks, and the growing demand for cost-effective cybersecurity solutions. Businesses are increasingly seeking endpoint security solutions that offer centralized management and administration to mitigate IT risks efficiently. The market landscape is also influenced by the challenges of navigating a dynamic IT infrastructure and the complex cyber threat landscape, alongside addressing the intricacies of advanced threats with innovative, yet budget-conscious, solutions.
Market dynamics indicate a fragmented industry landscape, where both well-established companies and emerging players compete. The intense competition drives innovation, with companies striving to differentiate their offerings through unique value propositions. Notably, the market has witnessed significant consolidation activities, such as acquisitions, to enhance product portfolios and expand market presence.
Given these dynamics, the endpoint security market stands at the cusp of transformative growth, fueled by the escalating demand for robust cybersecurity measures across various sectors, including IT and telecommunications, healthcare, manufacturing, and BFSI, among others. This demand is further bolstered by the increasing adoption of cloud-based security solutions and the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) into endpoint security platforms. These innovations are set to redefine the landscape of endpoint security, making it more adaptive, proactive, and capable of countering sophisticated cyber threats.
Key Takeaways
- The projected market size of Endpoint Security is expected to reach approximately USD 36.5 billion by 2033.
- It’s estimated that the market will grow at a steady CAGR of 8.4% from 2024 to 2033.
- In 2023, the market was valued at USD 16.3 billion.
- The Antivirus/Antimalware segment dominated the market in 2023, holding over 32% of the market share.
- Cloud-based deployment accounted for more than 61% of the total market share in 2023.
- Large enterprises captured over 57% of the market share in 2023.
- The BFSI (Banking, Financial Services, and Insurance) sector held a significant share, more than 20% in 2023.
- North America led the market in 2023, with over 39.5% of the market share.
Endpoint Security Statistics
- Widespread Endpoint Use: In 2020, businesses globally were using approximately 5.8 billion enterprise endpoints. This number highlights the vast digital ecosystem that companies operate in and underscores the importance of securing these endpoints.
- High Incidence of Attacks: A notable 68% of companies fell victim to endpoint attacks in 2019, emphasizing the widespread nature of cybersecurity threats.
- Origins of Cyberattacks: A staggering 91% of cyberattacks initiate with a phishing email. These attacks often exploit human emotions such as curiosity, fear, and urgency to deceive individuals into compromising security.
- Management of Devices: Only about 53% of employer-owned mobile devices are under central management, compared to higher rates for servers and laptops/desktops. For employee-owned devices, the management rates drop significantly, showcasing a gap in securing personal devices used for work.
- Lack of Security Solutions: Alarmingly, almost 15% of organizations do not utilize any form of endpoint security solution, leaving themselves vulnerable to cyber threats.
- Compromised Endpoints: Employer-owned desktops and laptops are the most frequently compromised endpoints, followed by various servers and employee-owned devices, indicating that traditional computing devices remain prime targets for attackers.
- Unprotected Endpoints: At any given time, 42% of all endpoints are unprotected, highlighting a significant security oversight in many organizations.
- Cyberattack Complaints: The FBI reported a 400% increase in daily cyberattack complaints since the coronavirus pandemic began, reflecting the heightened cyber threat landscape in recent times.
- Unknown Entry Points: 20% of IT managers could not identify how attackers breached their systems, and 17% were unaware of how long the threat had been present before detection. This lack of visibility complicates efforts to secure endpoints effectively.
- Investigative Efforts: Organizations spend a vast amount of time investigating non-issues, equivalent to about 41 days a year, which diverts resources from addressing real threats.
- EDR Challenges: For 54% of organizations, Endpoint Detection and Response (EDR) tools were not effectively managed due to resource constraints, rendering the investment less effective.
- Malware Delivery Methods: Email is the primary method for malware delivery, used in 94% of cases, emphasizing the need for rigorous email security measures.
- Cybercrime Costs: By 2021, it was estimated that cybercrime would cost the world $11.4 million every minute, a figure that underlines the lucrative nature of cybercrime and the critical need for effective cybersecurity.
- Increased Attack Frequency: Lastly, 68% of organizations reported an increase in the frequency of attacks on endpoints over a year, indicating a rising trend in cyber threats targeting these vital access points.
Use Cases Of Endpoint Security
- Ransomware Mitigation: Ransomware attacks, which start with a compromised device and can lead to widespread data encryption, are a prime concern for businesses. Endpoint security solutions, like those from Darktrace, focus on neutralizing these threats at every stage, including initial intrusion, foothold establishment, and data encryption, by identifying unusual patterns such as unusual file downloads and suspicious network activities.
- Insider Threats: The issue of insider threats, whether from malicious insiders trying to exfiltrate data or careless employees, underscores the need for a solution that understands normal user behavior. Endpoint security tools are designed to detect deviations from established patterns, helping to prevent data leaks or misuse of company devices.
- Supply Chain Attacks: Supply chain vulnerabilities represent a significant risk, where endpoints serve as entry points for broader attacks. Immediate action against unusual and potentially threatening activities is crucial for stopping these threats, demonstrating the value of endpoint security in protecting against third-party software vulnerabilities.
- Crypto-Mining Detection: Malicious crypto-mining exploits endpoint hardware, often going undetected until it’s too late. Security solutions like Darktrace can detect the early stages of such attacks and take autonomous action to prevent exploitation, showcasing their capability to identify open ports and monitor internet-facing devices.
- Advanced Threat Hunting and Response: Solutions like Cortex XDR by Palo Alto Networks enhance threat visibility and data collection, allowing security operations (SecOps) to identify and respond to threats more efficiently. This includes leveraging analytics, machine learning, and behavioral models to detect complex attacks and streamline investigations, achieving a significant reduction in alerts and operational costs.
Each use case demonstrates endpoint security’s critical role in the modern cybersecurity landscape. By leveraging advanced technologies and methodologies, businesses can proactively protect their digital assets against a wide array of threats. The focus on reducing time-to-meaning at the endpoint, wherever users may be, is paramount in securing the modern workforce against increasingly sophisticated attacks. The integration of solutions like Darktrace’s RESPOND/Endpoint and Cortex XDR’s advanced modules provides a comprehensive approach to preventing, detecting, and responding to cybersecurity challenges.
Recent Developments
- Sophos Group plc made strategic moves to enhance their cloud-based endpoint security capabilities, including the acquisition of Forepoint Security for $125 million in February 2023, and the release of Sophos Central Intercept XDR in December 2023.
- Palo Alto Networks Inc. integrated Prisma Cloud with Cortex XDR in January 2023, facilitating unified security management across cloud and endpoint environments. They also launched Cortex XDR 7.0 in May 2023, which brought improved threat detection, investigation, and response capabilities.
- Carbon Black Inc., now a part of VMware, expanded VMware’s endpoint security portfolio through the acquisition of Carbon Black in January 2023. VMware subsequently launched VMware Carbon Black Cloud Endpoint Advanced in October 2023, combining EDR, deception technology, and workload protection capabilities.
- Bitdefender introduced GravityZone XDR 3.0 in April 2023, enhancing their XDR platform with advanced threat detection and response features. In July 2023, Bitdefender partnered with CrowdStrike to offer joint endpoint protection and extended detection and response (XDR) solutions.
Conclusion
The Endpoint Security Market is on a trajectory to expand from USD 16.3 billion in 2023 to USD 36.5 billion by 2033, propelled by the adoption of advanced threat protection solutions. This growth is underscored by innovations in technologies like machine learning and the increasing necessity for robust endpoint protection amid rising cyber threats and the prevalence of remote work. With organizations prioritizing the security of their digital perimeters, the market’s evolution signals a significant shift towards comprehensive cybersecurity measures to safeguard sensitive data and systems against sophisticated cyberattacks.
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