Cloud Endpoint Protection Market Size

Cloud Endpoint Protection Market Analysis

The Cloud End-point Protection Market is expected to register a CAGR of 12.3% during the forecast period from 2021 - 2026. Cloud-based endpoint protection solutions, like traditional systems, are allowed to protect the endpoint devices and internal network security. These devices include smart devices, laptops, desktops, servers, mobile devices, and other technology connecting to the internet. It requires fewer in-house resources and has benefited over on-premise. In the case of on-premise solutions, business is entirely responsible for hosting and maintaining the software. One needs a dedicated server (or several) to organize the software and monitor the endpoints. Along with the server's actual prime cost, organizations also have to consider the costs of running and maintaining it. Cloud-based products are hosted instead on vendor's servers, eliminating the need for hiring extra staff and paying a higher electricity bill.

• The rapidly increasing connected devices, adoption of the BYOD trend, and other mobility solutions are expected to drive the adoption of cloud endpoint protection solutions even further. Bring Your Device (BYOD) has emerged as a significant trend in this new era of flexibility and network accessibility for various organizations around the world, making the workplace more productive. According to Cisco, enterprises with a BYOD policy in place saves on average USD 350 per year, per employee. Moreover, reactive programs can boost these savings to as much as USD 1,300 per year, per employee. For Small to Medium Businesses (SMBs), these cost savings can add up fast and enable these SMB's to protect their bottom line better while improving employee productivity.
• Furthermore, the increasing dependency on the connected devices has created the need to keep the connected device secure from cyber attacks. According to Ericsson, it is expected that nearly approx. With cellular connections in 2016, four hundred million IoT devices are expected to reach 1.5 billion by the year 2022. This robust growth is anticipated to be driven by the increased industry focus on the deployment of the connected ecosystem and the standardization of 3GPP cellular IoT technologies. The IoT network security segment covers various subsegments, such as firewalls, servers, VPN, IDS, IPS, WIDPS, gateway, and network hardware. According to AT&T, 47% of the organizations lack internal security, 44% have been moving to 247 security coverage, and 42% of them are looking for cost-saving strategies.
• Further, vendors redefine end-user computing by delivering an all-in-one solution for VDI, DaaS, and IoT markets, which caters to increasing endpoint security & protection needs and simplifying the user experience and allowing customers to maximize the benefits of the existing desktop hardware through PC Conversion. In June 2020, Stratodesk announced the launch of the Stratodesk NoTouch Go lightweight, thin client device. With NoTouch Go, enterprises and organizations can take advantage of unparalleled end-user computing mobility for VDI, IoT, and Cloud workspaces while also having full control and manageability over their workforce's devices. NoTouch Go runs on any endpoint, anywhere, and runs side-by-side with existing Windows installments.
• Furthermore, cyberattacks, such as phishing attacks, are on the rise during the ongoing COVID -19 pandemic. In February 2020, WHO has published a statement stating that hackers and cyber scammers are sending fraudulent email and WhatsApp messages that attempt to trick people into clicking on malicious links or opening attachments and has also mentioned not to share personal information such as usernames, passwords as well as not to click on any links posing as WHO, which tend to offer jobs, ask for registration or payment through any means. Such factors are expected to globally boost the growth of the market studied for the cloud endpoint protection market.