Cloud Endpoint Security Market - Forecasts from 2021 to 2026

The cloud endpoint security market is evaluated at US$0.992 billion for the year 2019 and is projected to grow at a CAGR of 15.77% to reach a market size of US$2.764 billion by the year 2026. The rise in the number of endpoint devices like laptops, desktops, and other devices is anticipated to propel the growth of the cloud endpoint security market during the forecast period. Also, the rapid growth of cloud computing across the globe is another prominent factor projected to drive market growth in the coming years. Moreover, the rise in work-from-home and BYOD policies is further expected to have a positive impact on the market growth. Furthermore, as vendors in the cloud market continue to improve their offerings, the services are being adopted by both SMEs and large enterprises for various purposes, which is driving the demand for cloud endpoint security solutions, thus boosting the growth of the market. The rise in the incidences of cybersecurity attacks is another significant factor expected to drive the market growth during the assessment period.

The recent outbreak of the novel coronavirus disease had a positive impact on the cloud endpoint security market. As the pandemic restricted the people inside their homes and strict COVID-19 measures, work-from-home was implemented in many parts of the world, wherever possible, which led to a rise in the use of personal devices for work purposes, and hence led to security concerns. This led to a rise in the adoption of cloud endpoint security solutions, which surged the market growth during the pandemic. Furthermore, the pandemic period saw a rise in cybersecurity cases which led to increased concerns among the organizations and hence further boosted the adoption of cloud endpoint security solutions. The trend is projected to continue in the future and is anticipated to benefit the market growth in the coming years.

The rise in BYOD policy

One of the major factors anticipated to drive the growth of the cloud endpoint security market during the forecast period is the increasing popularity of Bring Your Own Device (BYOD) policies in organizations. The culture of BYOD has been increasing significantly over the years as the companies are adopting it in order to save costs. A rise in the number of start-ups around the world has led to the prevalence of a large number of small and medium-sized enterprises. According to the Ministry of Commerce and Industry, the government of India, the number of startups in India has increased 85 times, from 504 in 2016 to overall 42,733 startups in 2020. Various other developing countries are also witnessing a rising trend in the number of startups. As those companies are in the initial growing phase, most of them tend to restrict their expenditure on the employees' working devices. Furthermore, as the use of smartphones, tablets, and other mobile devices has become necessary in some of the works to be done, the use of personal devices is on the rise. According to Dell, 60% of the employees use a smartphone for work purposes. The rise in the use of personal devices for work purposes leads to security threats, which is anticipated to lead to rising demand for cloud endpoint security in the coming years.

Rising concerns regarding cyber-attacks.

The rise in the cases of data breaches has led to an increased focus of companies on their data security, which has led to increased demand for cloud endpoint security and hence is anticipated to propel the growth of the cloud endpoint security market during the forecast period. As per the information from the government of India, the cases of cybersecurity in India increased nearly three times compared to 2019, reaching 1.16 million cybersecurity cases in 2020. In May 2021, a data breach of patients' personal information was reported at Mississippi's Coastal Family Health Center (CFHC). The information such as names, addresses, social security numbers, medical insurance information, and health and treatment information was hacked. Such kinds of data breach cases have been increasing over the years, which has led to data security concerns among companies. The use of cloud endpoint security leads to scaling up of the organization's security, which protects the organization’s sensitive data from hackers, which is one of the prominent factors anticipated to drive the adoption of cloud endpoint security in the coming years.

North America to hold a significant market share.

Geographically, the North American region is anticipated to hold a significant market share owing to the presence of an advanced IT infrastructure and a higher tendency to adopt new technologies like the cloud endpoint security market. The Asia Pacific region is anticipated to witness substantial growth during the forecast period due to rising investments in cloud-based solutions and an emerging IT sector. Furthermore, the rising number of start-ups in the region is anticipated to propel the growth of the cloud endpoint security market during the forecast period.

Segmentation:

By Component

• Solutions
• Services

By Deployment Model

• Private Cloud
• Public Cloud
• Hybrid Cloud

By Enterprise Size

• Small
• Medium
• Large

By End-Use Industry

• Retail
• IT and Telecom
• Media and Entertainment
• Healthcare
• BFSI
• Government
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• UK
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• India
• Japan
• South Korea
• Others