According to a new market research report "Cloud Endpoint Protection Market by Component, Solution (Antivirus, Anti-spyware, Firewall, Endpoint Device Control, Anti-phishing, Endpoint Application Control), Service, Organization Size, Vertical, and Region - Global Forecast 2023", published by MarketsandMarkets™, the market is expected to grow from USD 1,014.4 million in 2018 to USD 1,819.0 million by 2023, at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period.
Cloud endpoint protection solutions provide the necessary controls for avoiding data breaches. Additionally, cloud endpoint protection systems also form an integral part of the overall threat prevention and protection systems of organizations. The benefits such as reduced capital and operational expenditure offered by cloud endpoint protection solutions have contributed significantly to the growing demand for data center transformation services.
The endpoint device control segment to grow at the highest CAGR during the forecast period
Endpoint device control solutions are primarily used by enterprises to control the data that may get transferred from enterprises through any removable media, such as hard drives, USBs, and iPods. Businesses are increasingly using portable devices for their advantages, such as efficiency and mobility, and their work tasks. However, the increasing use of such devices has posed a significant threat to companies data security. This has significantly increased the demand for such solutions across all verticals.
The maintenance and support segment to grow at the highest CAGR during the forecast period
Maintenance and support services include support related to the implementation and use of solutions provided by cloud endpoint protection vendors. Maintenance services facilitate upgrades to the existing systems and provide assistance for solving issues of products. Moreover, such updates ensure prevention from the emerging attacks and smooth operation. These services ensure uninterrupted security protection to endpoints.
North America to dominate the Cloud Endpoint Protection Market during the forecast period
The global Cloud Endpoint Protection Market by region has been segmented into North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is estimated to have the largest market size in 2018, owing to the presence of several vendors and rapid adoption of cloud-based solutions in the region. The market in APAC is expected to grow at the highest CAGR during the forecast period, owing to the increasing awareness and adoption of cloud-based endpoint protection solutions as these solutions are cost-effective and help in scaling business operations.
The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to expand their presence in the market. Major technology vendors in the Cloud Endpoint Protection Market include Symantec (US), Sophos (UK), Trend Micro (Japan), ESET (Slovakia), Kaspersky Lab (Russia), Palo Alto Networks (US), McAfee (US), Fortinet (US), Cisco Systems (US), Panda Security (Spain), Avast (Czech Republic), SentinelOne (US), Bitdefender (Romania), Commvault (US), Carbon Black (US), FireEye (US), CoSoSys (Romania), Malwarebytes (US), K7 Computing (India), F-Secure Corporation (Finland), CrowdStrike (US), Comodo (US), Endgame (US), Webroot (US), and VIPRE Security (US).
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