Cloud endpoint security helps ensure the confidentiality and integrity of the organizational data by safeguarding it against potential risks. The adoption of cloud endpoint protection solutions is also expected to increase, owing to the growing demand for a cost-effective alternative to on-premises security solutions.
The global cloud endpoint protection market is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period to reach the market size of USD 1,819.0 million by 2023.
Cloud endpoint protection solutions would witness major technological changes, along with the evolving technological advancements. Enterprises are increasingly adopting cloud-based endpoint security solutions with third-party assistance that helps them in supporting their security needs.
The endpoint device control segment is expected to grow at the highest CAGR during the forecast period. Endpoint device control solutions are primarily used by enterprises to control data that may get transferred from enterprises through any removable media, such as hard drives, USBs, and iPods. Enterprises are rapidly deploying these solutions to keep a check on who can access what data and to what extent.
Support and maintenance services form an integral part of implementing cloud endpoint protection solutions, as these solutions need frequent updates and patches to their threat databases. Moreover, such updates ensure prevention from the emerging attacks and smooth operation. These services ensure uninterrupted security protection to endpoints.
Small and Medium-sized Enterprises (SMEs) face intense competition from large enterprises. To gain a competitive edge, they are adopting cloud-based endpoint protection solutions which would enable quick response, timely decisions, and overall enhance business productivity. This trend would continue among SMEs during the forecast period, owing to various benefits of plug and play solutions.
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. The region provides growth opportunities for cloud endpoint protection vendors, due to the increasing investments in advanced technologies, rising adoption of cloud, and growing government regulations for data protection.
The cloud endpoint security plays an important role in the media and entertainment vertical. As the growing number of attackers are using advanced tools and technologies to attack news and television stations, there is an increasing need to secure the IT infrastructure and digital assets of enterprises. Moreover, attackers are targeting dedicated websites and servers of media and entertainment companies with Distributed Denial of Service (DDoS) attacks which have further driven the adoption of security solutions such as cloud endpoint protection.