The growing adoption of enterprise mobility and rising trend of bring your own devices is driving the market for endpoint detection and response market.
The global Endpoint Detection and Response market is forecast to reach USD 6.98 billion by 2027, according to a new report by Reports and Data. Endpoint Detection and Response (EDR) is a technology that addresses the need for response to advanced threats and continuous monitoring. It is a subset of endpoint technology and also a critical piece of an optimal security posture.
The primary focus of the EDR is not to automatically stop threats in the pre-execution phase on an endpoint but on providing the right endpoint visibility. The rise in EDR adoption is driving the increase in the number of endpoints attached to networks. Another driving factor is the increased sophistication of cyberattacks, which often focus on endpoints as easier targets for infiltrating a network. EDR is an emerging technology that caters to the demand for continuous monitoring and response to advanced threats. It could even be said that endpoint detection and response is a form of advanced threat protection.
There are growing number of cases of enterprise endpoint attacks globally and it has increased the need for Endpoint Detection and Response Market. Amnesty International’s Hong Kong office, in April 2019, was hit by a year-long cyberattacks from hackers. In the same month, medical billing service provider ‘Doctors’ Management Service’ witnessed a ransomware attack that compromised the patients’ data from a number of its clients. These kinds of incidents are leading to an emerging demand for incident response services.
Key participants include Cisco Systems, Inc., Fireeye, Inc., Carbon Black, Inc., Crowdstrike, Inc., Digital Guardian, Intel Security-McAfee, RSA Security LLC, Tripwire, Inc., Symantec Corporation, and Cyberbit, among others.
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Further key findings from the report suggest
- Software held a market share of 34.3% in the year 2019. Companies require endpoint detection and response software to protect their IT systems from any kind of breach and safeguard the data on employees’ laptops and PCs.
- The workstation segment is expected to grow owing to the rise in the security breaches that target workstations in the organizations, where hackers try to derive sensitive data. With the rise in the vulnerabilities, the demand for the market is expected to rise. It held a market share of 31.5% in the year 2019.
- Large enterprise held a market share of 80.6% in the year 2019. These enterprises are at a greater risk with their sensitive data on their large number of employees’ workstations. Moreover, the rising trend of BYOD among them are increasing the threat of such attacks. Hence, these organizations make sure to protect itself from such breaches.
- Hosted EDR services enable system-based security agencies to investigate the cloud if a user accesses any suspicious URL and response accordingly. Hosted deployment mode is forecasted to grow with a CAGR of 22.5% during the forecast period.
- BFSI is forecasted to grow with the highest CAGR of 23.7% during the forecast period. The institution is adopting the market solution rapidly to protect their employees’ and customers’ assets and information. The increase in smart banking has increased these risks and propelled the rate of adoption of the market in the sector.
- North America led the market for Endpoint Detection and Response Market, owing to the high level of investments in research and development to improve the existing technique. The U.S. contributed a significant share for the growth of the market.
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For the purpose of this report, Reports and Data have segmented into the global Endpoint Detection and Response market on the basis of component, enforcement point, organization size, deployment mode, industry vertical, and region:
Component Outlook (Revenue: USD Billion; 2017-2027)
Enforcement Point Outlook (Revenue: USD Billion; 2017-2027)
- Mobile Devices
- Point of Sale Terminals
Organization Size Outlook (Revenue: USD Billion; 2017-2027)
- Small and Medium enterprises
- Large Enterprises
Deployment Mode Outlook (Revenue: USD Billion; 2017-2027)
Industry Verticals Outlook (Revenue: USD Billion; 2017-2027)
- Healthcare and Life Sciences
- Retail and E-Commerce
- Travel and Hospitality
- IT and Telecommunication
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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