Cloud endpoint protection service market is estimated to grow with a high CAGR during the forecast period, i.e., 2020-2029. Extensive research associated with cloud endpoint protection service in western countries, along with the growing number of breaches and attacks on endpoints are expected to fuel the progress of the cloud endpoint protection service market. The growth of the market can also be attributed to factors such as the increasing in the number of endpoint devices.
The rapidly increasing connected devices, adoption of the (bring your device) BYOD trend, and other mobility solutions are projected to drive the adoption of cloud endpoint protection solutions even further. Moreover, 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.
The market is segmented based on component into solutions and services out of which, solution segment is anticipated to grab the largest market size during the forecast period, owning to the growth of endpoint device control solutions, since it is used by enterprises to have control over the data transferred from enterprises through removable medias, such as hard drives, USBs, and iPods.
The cloud endpoint protection market is segmented by organization size into large and small & medium-sized enterprises. Large and medium-sized mostly adapt the cloud endpoint protection solutions due to more adaption of bring your device (BYOD) services in these segments.
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 SMBs to protect their bottom line better while improving employee productivity.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in North America is expected to hold the largest market size, owning to the presence of major vendors and adoption of cloud associated services. Asia Pacific region is expected to provide several opportunities for cloud endpoint protection vendors and projected to grow at the highest CAGR during the forecast period. The growing use of free or pirated endpoint protection solutions may restrain the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
Cloud endpoint protection service market is further classified on the basis of region as follows:
Our in-depth analysis of cloud endpoint protection service market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increase in the number of endpoint devices and Growing number of breaches and attacks on endpoints are the key factors driving market growth.
The cloud endpoint protection service market is anticipated to attain a high CAGR over the forecast period, i.e., 2020-2029.
Dynamic IT infrastructure and Increasing cyber threat are estimated to hamper market growth.
The major players dominating the cloud endpoint protection service market are NortonLifeLock Inc., Sophos Group plc, Cisco Systems, Inc, Trend Micro Inc., SentinelOne, Fortinet, Inc., Commvault, McAfee Corp, Palo Alto Networks, Inc. among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by components, organisation size, industrial vertical and region.
With respect to application, banking financial services and insurance, IT and telecom, government and defence are the industrial vertical which are estimated to hold the largest market size in the forecast period.
Solution segment is anticipated to grab the largest market size during the forecast period, owning to the growth of endpoint device control solutions.
The market in Asia Pacific region is expected to provide several opportunities for cloud endpoint protection vendors and projected to grow at the highest CAGR during the forecast period owning to the adoption of cloud associated services.
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