Demand in Endpoint Protection Platform Market to Skyrocket as Frequency of Cyber-Attacks Increases

Summary

Endpoint protection platform solutions have become highly sought-after especially since an increasing number of companies are adopting “Bring your own device (BYOD)” approach. According to a new study by an ESOMAR certified market research and consulting firm, this will create lucrative prospects for the expansion of the endpoint protection platform market.

Cases of cyber-attacks have been rising consistently. With organizations around the world adopting remote-working model, especially to contain the spread of COVID-19, cyber-security has become more vulnerable than ever before.

Endpoint protection platforms provide security and protect electronic devices from malware attacks and data breaches. They are used to protect a number of electronic devices such as smartphones, laptops, computers, tablets, and other. Organizations have begun investing in endpoint protection platforms to avoid breaches and ensure privacy and protection of information.

Study uncovers hidden opportunities in the endpoint protection platform market, besides highlighting potential threats. Some of the key takeaways from the report are highlighted below.

Key takeaways from the endpoint protection platform market report

• The endpoint protection platform market is expected to grow at a CAGR of 10% between 2020 and 2030

• The market is projected to reach a valuation of US$ 7.8 Bn value by the end of 2030

• The demand for endpoint protection has increased in the finance and health industry because they have been focusing on digitizing data

• Growth witnessed in the South Asia & Pacific market is expected to be considerably high, yet North America is likely to remain dominant throughout the forecast period

“Organizations are increasingly focusing on investing a large part of their security budget on protecting endpoint devices and networks connected to these devices. This is due to rise in the number of targeted attacks originating from end user devices. Considering this, demand witnessed across small as well as large enterprises will continue to rise in the forthcoming years,” one analyst said.

COVID-19 impact analysis

The COVID-19 outbreak has affected various sectors including IT due to which there has been a decline in the market growth. But the increase in remote workplaces is expected to cause a rise in demand for endpoint protection platforms.

There has been an increase in cyber-attacks due to the pandemic and this has led to increasing adoptions of endpoint security solutions. Since remote working is being embraced by companies all over the globe and is expected to continue being a part of future work models, the endpoint protection platform market is predicted to exhibit positive growth trajectory through the forecast period.

Who is winning?

As technology is evolving, threats to security are also becoming more complex and tricky. Hence players are working to upgrade their technology and plans to improve privacy protection in devices. Cloud computing has become popular among companies as it allows employees to store data in one platform and access it from any device.

Cloud storage can be used from anywhere and at any time. Cloud based endpoint protection platforms allow companies to secure all devices in the cloud, making it a viable option for enterprises and individuals.

Some of the key players in the endpoint protection platforms market are Carbon Black, Intel Corporation, New Net Technologies LLC, Palo Alto Networks, Microsoft, Cisco Systems, McAfee, Symantec Corporation, GoSecure Inc, Trend Micro Inc., Druva Inc., Sophos Ltd., F-Secure, Kaspersky, FireEye, CrowdStrike, Fortinet and Check Point Software Technologies.