LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global endpoint detection and response market to grow at a CAGR of almost 9% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global endpoint detection and response market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of endpoint security software, which are standalone and integrated security software used by enterprises and individual consumers.
Global endpoint detection and response market is expected to witness a significant growth during the forecast period due to the growing need for high levels of security in corporate firms. The need for advanced security solutions is growing rapidly with the escalating number of cyber-attacks and the threat of hackers. Further, the adoption of endpoint detection and response solutions is growing enormously among enterprises, and individual consumers as critical and confidential data are increasingly being transferred.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global endpoint detection and response market:
- Increasing demand from mobile devices
- Demand for integrated security solutions
- Availability of a proficient workforce
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Increasing demand from mobile devices
An increase in the use of mobile devices, such as laptops, mobile phones, and tablets, is boosting the revenue inflow into the market. The use of mobile devices for personal and professional purposes is increasing the demand for security in these devices because it involves access to critical data and storage. Further, individuals are highly dependent on mobile devices for myriad purposes such as e-commerce, bill payment, and GPS. The information accessed by mobile devices also requires high levels of security as it is confidential.
Amrita Choudhury, a lead IT security research analyst at Technavio, says, “There is an increased need for the exchange of global data and information with companies expanding across regions. The global expansion of business has led to a significant rise in the number of employees' traveling worldwide. This has resulted in an increase in services offering security and access to secure networks from mobile devices.”
Demand for integrated security solutions
There are many security solutions available in the market. However, choosing the right solution and implementing every individual solution is time-consuming and expensive for end-users. There is a pressing need for consolidating security solutions into a single all-encompassing solution.
“End-users using separate firewalls, encryption, and intrusion detection and prevention systems have to oversee maintenance, updates, and logs for each individual system. This increases the complexity and associated expenses requisite for separate security solutions,” adds Amrita.
Availability of a proficient workforce
Organizations worldwide are increasingly investing in outsourcing the task of security management to professional service providers as their in-house security teams mostly deal with security on a part-time basis. Thus, the lack of the ability to identify potential risks or threats is obvious. Further, the in-house security teams are not as competent as the service providers possessing extensive experience in dealing with multitudes of potentially threatening situations on a regular basis.
Therefore, these organizations seek to gain access to a proficient and experienced workforce to secure their systems from potential threats. As the potential workforce is available to manage the endpoint detection and response market, this will impact the high revenue inflow in the market.
Top vendors:
- RSA Security
- McAfee
- Symantec
- Trend Micro
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