Endpoint Security Market Size

Endpoint Security Market Analysis

The Endpoint Security Market size is estimated at USD 19.62 billion in 2024, and is expected to reach USD 28.80 billion by 2029, growing at a CAGR of 7.98% during the forecast period (2024-2029).

• The increased adoption of data-intensive approaches and decisions in the business ecosystems through connected devices has raised the number of cyber-attacks globally in line with the growing digitalization. Enterprises are increasingly adopting more decentralized and edge-based security techniques due to increasing data breaches worldwide, driving the demand for endpoint security solutions in the market.
• The market has been registering significant growth in the usage of endpoint devices, which are becoming vulnerable to a continuously increasing and sophisticated nature of endpoint attacks and breaches and a proportionally increasing demand for high-security solutions to combat endpoint attacks. The growth of the market is also supported by factors such as the advent of innovative technologies like IoT, Al, ML, and big data, among others. IT risk mitigation in an increasingly complex regulatory environment with fast-changing legal frameworks is expected to support the market's growth during the forecast period.
• In March 2023, GSMA reported that Worldwide Internet of Things (IoT) connections in Enterprises are increasing significantly, following a growing trend from 2020. It is expected to reach 44 billion connection numbers by 2030, which would raise the risk of data breaches in enterprises due to the vulnerability of IoT to cyber attacks.
• The market's growth is restrained by the lack of awareness about cyberattacks. However, since almost all cyberattacks can be reduced significantly by taking appropriate actions, many companies are planning to raise their overall spending. With over a trillion dollars anticipated to be spent on cyber security this year, these figures are anticipated to improve in the future.
• The COVID-19 pandemic raised the demand for endpoint security solutions, majorly endpoint detection and response solutions and services to protect businesses and countries from malicious cyber attacks supported by increasing digitalization.
• The Bank for International Settlements stated that, during the COVID-19 pandemic, financial institutions faced an increasing risk of cyber attacks, which were accelerated by remote working conditions. The need for cyber security majors in enterprises and government entities of various countries worldwide increased after the pandemic due to the trend of online and data-driven businesses, fueling the implementation of endpoint security.