NEWARK, Del, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The endpoint detection and response market is estimated to be worth US$ 4.0 billion in 2024 and is projected to be valued at US$ 32.4 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 23.2%. The rising concern for data security owing to the rising popularity of remote working is one of the major market drivers for endpoint detection and response (EDR) solutions during the forecast period.
With the rising trend of remote working, there has been an increase in the threat of data breaches and malware attacks. This has been a growing concern for data security, as the devices can be stolen, lost, or hacked, potentially leading to a breach of sensitive corporate data.
The growth of the global endpoint detection and response market is driven by Bring Your Own Device (BYOD) trend as employees using their personal devices for work-related activities, which has become increasingly common in recent years. Thus the growing need for managing and securing these devices boost the demand for endpoint detection and response solutions in organization.
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EDR solutions are increasingly being integrated into larger security ecosystems, including SIEM (Security Information and Event Management) platforms and other security tools. The increasing partnerships between EDR solution providers and other cybersecurity firms or industry-specific entities further drive innovation and market growth.
Key Takeaways from the Market Study
- From 2019 to 2023, the endpoint detection and response market was valued at a CAGR of 19.3%
- Based on solution, the software segment is expected to account for a share of 64.5% in 2024.
- Global endpoint detection and response demand in China is predicted to account for a CAGR of 23.7% in 2024.
- In the United States, the endpoint detection and response industry is expected to account for a CAGR of 21.1% in 2024.
- Germany is projected to expand by a value CAGR of 22.7% between 2024 and 2034.
- Endpoint detection and response market in Japan is anticipated to record a CAGR of 24.4% in 2024.
“The growing number of cyber threats, along with the growing awareness of the importance of endpoint security in the overall cybersecurity posture, is anticipated to drive the market growth during the forecast period." Says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
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Key Market Players
- Bitdefender
- Broadcom, Inc. Cisco Systems
- CrowdStrike
- ESET
- FireEye
- Fortinet
- Kaspersky
- McAfee
- Microsoft Corporation
Competitive Landscape
Key players focus on organic growth strategies like product launches and approval. Collaborations and partnerships with key players and acquiring niche players are critical strategies followed by leading endpoint detection and response market.
Key Product Offerings
- CrowdStrike known for its cloud-native Falcon platform, CrowdStrike provides endpoint security solutions that leverage AI and machine learning for threat detection and response. They focus on real-time visibility and prevention of threats across endpoints.
- Carbon Black (VMware) acquired by VMware, offers EDR solutions designed to protect endpoints by continuously monitoring and analyzing endpoint activities. Their technology emphasizes behavior-based threat detection and response.
- Symantec, now part of Broadcom, offers EDR capabilities through its Endpoint Security portfolio. Their solutions provide threat hunting, incident investigation, and response functionalities to secure endpoints against evolving threats.
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Market Segmentation
Solution:
- Software
- Service
- Professional Services
- Managed Services
Endpoint Device:
- Network Devices and Servers
- Mobile Devices
- Point Of Sale (POS) Devices
- Others
Deployment:
- Cloud
- On-premise
Enterprise Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Vertical:
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare and Life Sciences
- Government and Defence
- Retail and E-commerce
- IT and Telecom
- Energy and Utilities
- Manufacturing
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About the Technology Division at Future Market Insights
The technology team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
Authored By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
Have a Look at the Related Reports of the Technology Domain:
- The BYOD (Bring Your Own Device) and enterprise mobility market is anticipated to experience substantial growth, with a projected valuation of US$ 72.96 billion in 2022. This upward trajectory is expected to continue, reaching an impressive figure exceeding US$ 308.25 billion by the year 2032. The market exhibits a robust Compound Annual Growth Rate (CAGR) of 15.5%, underscoring its dynamic expansion throughout the forecast period.
- The fraud detection and prevention market are poised for significant growth, with an expected CAGR of 17.5% from 2023 to 2033. The market, valued at US$ 31,447.6 million in 2023, is forecasted to achieve substantial revenue of US$ 158,196.5 billion by 2033.
- The BYOD security market is positioned for substantial revenue, expected to reach approximately US$ 35.6 billion in 2023. Projections indicate a remarkable growth trajectory, with the market forecasted to soar to around US$ 235.8 billion by 2033. This signifies an impressive Compound Annual Growth Rate (CAGR) of 18.9% from 2023 to 2033.
- The global intrusion detection system market is poised for substantial growth, with an anticipated Compound Annual Growth Rate (CAGR) of 12.5%. Projections indicate that by the year 2032, the market is expected to reach a significant valuation of US$ 15.62 billion. In the year 2022, the market is forecasted to be valued at US$ 4.81 billion, reflecting its evolving prominence and increasing demand for enhanced security measures.
- The global advanced malware detection market is on a trajectory of substantial growth, with an anticipated revenue reaching US$ 8.1 billion by the close of 2023. The market is expected to accelerate at an impressive Compound Annual Growth Rate (CAGR) of 17% throughout the forecast period from 2023 to 2033.
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