PRNEWSWIRE: Growing need to address security challenges with endpoints in a cost-effective way is expected to fuel the demand for cloud endpoint protection solutions across the globe.
The global cloud endpoint protection market is expected to grow from $1.014 billion in 2018 to $1.819 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period. As most of the work performed in an organization is implemented using endpoint devices, it is necessary to ensure the confidentiality and integrity of the organizational data by safeguarding it against potential risks. This has led to a significant increase in the demand for cloud endpoint protection solutions. However, as organizations are skeptical about the overall level of adoption of cloud-based security solutions so they prefer adopting on-premises solutions, hence the growth in the demand for cloud-based solutions may be limited.
The antivirus segment to hold the largest market size during the forecast period
Anti-virus software solutions help in the prevention, detection, and removal of malwares, such as computer viruses, rootkits, Trojans, and worms, from endpoint devices and act as a shield between endpoints and these threats. Moreover, antivirus packages catering to the needs of Small and Medium-sized Enterprises (SMEs) reduce the cost of security for these businesses.
The managed services segment to hold the largest market size during the forecast period
Organizations increasingly seek to outsource their endpoint security management needs to trusted third-party service providers and turn to managed service providers for managing their endpoint security. Managed services deliver better protection against threats and malwares by integrating endpoint security solutions with a 24×7 remote monitoring.
North America to have the largest market share in 2018, while Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
North America is estimated to hold the largest market size in the global cloud endpoint protection market in 2018, and the trend is expected to continue during the forecast period.Growth in the adoption of cloud-based services among SMEs and large enterprises is expected to drive the growth of the cloud endpoint protection market in this region.
On the other hand, the cloud endpoint protection market in APAC is expected to witness exponential growth to become the fastest-growing region in the global cloud endpoint protection market. This high growth is attributed to the growing awareness of cybersecurity and benefits of cloud-based solutions in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakdown of the primary profiles is given below:
- By Company: Tier I: 21%, Tier II: 33%, and Tier III: 46%
- By Designation: C-Level: 22%, Director-Level: 31%, and Others: 46%
- By Region: North America: 48%, Europe: 23%, APAC: 19%, and RoW: 10%
Complete report is available at: https://www.reportbuyer.com/product/5566335