Impact of COVID-19 on the Endpoint Security Market

The endpoint security market is expected to reach $18.6 billion by 2027, at a CAGR of 5.9% during the forecast period from 2020 to 2027.

The growth in this market is mainly attributed to the exponential rise in the number of endpoint devices, consistently rising & sophisticated nature of endpoint attacks & breaches, and proportionally increasing demand for high-security solutions to combat endpoint-attacks. Moreover, the factors such as advent of disruptive technologies such as IoT, AI, ML, and Big Data, among others; mitigation of IT risk; and rapidly evolving regulatory landscapes are also supporting the growth of the endpoint security market.

Impact of COVID-19 on the Endpoint Security Market

The COVID-19 pandemic has adversely hit several economies around the globe. The combat measures against the pandemic such as complete lockdown, social distancing, and quarantine have put strong adverse impact on many industries across the globe including a portion of IT security industry. With many employees working from home and students learning virtually, enterprise virtual private network (VPN) servers have now become a lifeline to organizations and institutions. Thus, the rapid adoption of new approaches will grave the cyber risks and threats for organizations. One of the major factors in the rise of attacks on corporate emails includes spurts of COVID-19 websites offering fake prepositions in exchange for personal information. For instance, spear phishing email attacks related to COVID-19 have increased by 667% since the end of February.

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The impact of COVID-19 outbreak on the global endpoint security market has been started in early 2020 in China, one of the world's largest producers and consumers for endpoint devices including smartphones, computers, and tablets. The closing of production plant for few months in China and restrictions on export and import of the endpoint devices to and from the China’s restricted area has strongly impacted the supply chain, production, sales, and operation of these industries. Moreover, this pandemic is also expected to adversely affect the endpoint security market in many countries across the globe including India, the U.S., Brazil, and European countries. However, as most of the IT companies adopted work-from-home policies in response to the COVID-19 pandemic, cybersecurity has become a grave issue for organizations across the globe and thus, expected to provide some relief to the global endpoint security market and help the market to recover at much faster rate.

Key findings in the global endpoint security market study:

Service segment is expected to a witness rapid growth

Based on component, the service segment is to make a huge impact on the overall endpoint security market over the coming years. The fast growth of this segment is primarily attributed to the growing adoption of cloud-based services for managing critical infrastructure of enterprises. Also, the factors such as proliferation of new entrants providing security solutions against cyber-attacks, growing number of endpoint terminals, and increasing concerns regarding the data security and privacy are predicted to the fuel the growth of services segment during the forecast period.

Mobile devices segment estimated to dominate the overall endpoint security market in 2020

Based on enforcement point, the mobile device segment is expected to command the largest share of the overall endpoint security market 2020. With the consistent rise in the use of smartphones and mobile applications, endpoints-attacks on mobile devices are also increasing proportionally and create a new security challenges for IT. Therefore, enterprises are increasingly adopting endpoint security solutions to secure their networks and provide their employees with secure access to confidential information. Besides, the growing trend of bring your own devices (BYOD) policies by business enterprises, for instance in the midst of pandemic of COVID-19, is also expected to encourage the incorporation of endpoint security solutions for mobile devices.

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Cloud deployment expected to grow at a rapid pace during the forecast period

Based on deployment, cloud segment is expected to grow at the fastest CAGR during the forecast period. Adoption of cloud computing and storage systems are gaining popularity among small and medium scale enterprises. Several organizations are gradually moving towards cloud infrastructure, and this trend is expected to grow multifold in the coming years. The benefits of cloud infrastructure in the form of ease of adoption, minimal requirement of in-house infrastructure, scalability, and easy installation of security solutions are some of the key factors supporting the rapid growth of the cloud-based endpoint security solution market.

Asia-Pacific: The fastest growing regional market

North America is estimated to command the largest share of the global endpoint security market in 2020, followed by Europe, Asia Pacific, Latin America, and the Middle East and Africa. However, Asia-Pacific region is expected to witness a rapid growth during the forecast period. The rapid growth in this region is mainly driven by the extensive presence of SMEs in the region that are using a variety of endpoint security applications. The region is a host to the fastest-growing endpoint security market due to rapid investment in IT infrastructure, extensive use of the internet, and growing adoption rate of smart devices. All these factors act as drivers for the endpoint security market due to the rapid digital transformation and its vulnerability to cyberattacks.

Key Players

The report includes competitive landscape based on the extensive assessment of the key strategic developments adopted by the leading market participants in the endpoint security industry over the last four years (2017-2020). The key players profiled in the global endpoint security market are Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.), FireEye, Inc. (U.S.), WatchGuard Technology, Inc. (U.S.), McAfee LLC (U.S.), Panda Security (Spain), SOPHOS Ltd (U.K.), Comodo Security Solutions, Inc. (U.S.), Carbon Black, Inc. (U.S.), Microsoft Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), and Check Point Software Technology Ltd. (U.S.), among others.

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