Market Trends of Endpoint Security Industry
Consumer Segment is Expected to Witness Significant Growth
- The primary driving force for increased consumer endpoint security is improved internet connectivity and growing internet penetration. For household users, the web and e-mail are potential areas for malware penetration. Thus, endpoint security solutions are aimed at these attack points for the consumer segment. Moreover, consumers are increasingly adopting devices such as smartphones, tablets, and laptops for personal and professional purposes, making endpoint security solutions an essential tool for securing data.
- The emergence of intelligent buildings and smart home products has raised the number of IoTs in residential premises, which is increasing the risk of endpoint security attacks worldwide, driving the demand for endpoint security solutions in the consumer segment and supporting the market's growth.
- According to Ericsson, the number of global IoT connections is expected to double from 2022 to 2028. The number of wide-area IoT connections in 2022 was 2.9 billion, and it is expected to be 6 billion by 2028.
- In July 2023, the US government planned to implement measures to enhance awareness of the safety of smart home devices. The administration introduced the "US Cyber Trust Mark" initiative, which seeks to authorize IoT devices to protect users from cyberattacks.
- The growth of smartwatches has raised the storage and transmission of large amounts of personal data, from health and location information to banking details, making smartwatch users vulnerable to cyberattacks.
- Therefore, the increasing usage of smart devices, laptops, and smartphones in the consumer segments, supported by the growth of smart homes for better energy management and productivity, has raised the risk of cyber attacks in the consumer segment, which is expected to fuel the growth of endpoint security solutions during the forecast period.
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Asia-Pacific to Register Major Growth
- The endpoint security market in Asia-Pacific is experiencing significant growth owing to the region's high smartphone penetration, rising ransomware and malware attacks, growing digitization in end-user industries, rising number of connected devices, and evolving cyberattacks. These have necessitated the demand for endpoint security for consumers as well as businesses across the region.
- As organizations across verticals grow in the region, there is significant growth in endpoints. As a result, it expands the attack surface of an organization while offering attackers increasing entry points to a system, necessitating the demand for endpoint security.
- Asia-Pacific has been witnessing significant expansion of endpoint security solution providers to offer their endpoint security solutions, pointing toward growth opportunities in the region. For instance, in January 2024, ESET, a prominent player in endpoint security, announced the inauguration of its new Asia-Pacific (APAC) Headquarters in Singapore. With this expansion, the company aims to more effectively serve its consumers and partners in the APAC region.
- In November 2023, cybersecurity solutions provider and the developer of Percept Cloud Security Platform for Endpoint Detection & Response, Sequretek, secured USD 8 million from Omidyar Network India to expand its business in India, which shows the increasing demand for endpoint security solutions in the region.
- The growth of endpoint cyberattacks, strategic development of digitalization trends in enterprises for business efficiencies, the growing digital economy, the evolving cyber landscape, and the proliferation of endpoint devices across verticals have raised the demand for endpoint security solutions in the region.
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