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Increase in adoption of remote working and rise in number of connected devices further drive growth of the market.
PORTLAND , PORTLAND, OR, UNITED STATE, July 17, 2022 /EINPresswire.com/ -- The Endpoint detection and response market trends in Asia-Pacific is expected to exhibit the highest growth during the forecast period. Rise in use of cloud-based endpoint detection and responses for safety and security reasons in Asia-Pacific is expected to provide lucrative growth opportunities for the market in the future. Moreover, technological environment in Asian countries is expanding, particularly in sectors such as healthcare and BFSI. Governments in the region are continuously emphasizing on investing in IT operations for various industries, allowing businesses to adopt new solutions and services to streamline their business operations. Such emerging practices drive growth of the market
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On the basis of organization size, the large enterprises dominated the overall Endpoint detection and response industry in 2021 and is expected to continue this trend during the forecast period. In large organization, there is an increase in adoption of endpoint detection and response, owing to rise in complexity, cyber risks, threat in business process and need of easy process, which leads to high competition across industries.
Furthermore, large enterprises are integrating their large volume of data in the cloud to augment their speed, accuracy, and value chain scalability, which is opportunistic for the market growth. However, the SMEs is expected to witness the highest Endpoint detection and response market growth in the upcoming year. Owing to increase in number of SMEs in developing economies in Asia-Pacific including China, Japan, and India.
Adoption of endpoint detection and response is expected to increase to optimize business capabilities of small & medium sized enterprises. Moreover, continuous rise in number of government initiatives through various digital SME campaigns throughout the world fuels growth of the market.
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Depending on industry vertical, the IT & telecom sector dominated the Endpoint Detection and Response Market Share in 2021 and is expected to continue this trend during the forecast period. This industry is witnessing a rapid growth, owing to increasing use of mobile devices among individuals. This provides numerous opportunities to the industry. In addition, business process moves toward digitization and technology initiatives motivated by the global pandemic, the need for business agility, which provides lucrative growth opportunities for the endpoint detection and response market in this vertical.
Endpoint Detection and Response Market Size was valued at $2,413.32 million in 2022, and is projected to reach $18,317.02 million by 2031, registering a CAGR of 25.3%. The current estimation of 2031, it projected to be higher than pre-COVID-19 estimates. Governments and businesses are increasingly asking employees to work from home or are shifting work to employees in less affected areas to maintain business continuity during the pandemic.
However, the situation has accelerated the adoption of advanced technologies such as AI powered solution, automation, big data and analytics to control costs while improving the customer experience. Furthermore, organizations may transform unstructured and semi-structured data into structured and relevant data, owing to the advent of big data and analytics.
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In addition, artificial intelligence (AI) integration aids in extraction of new insights from existing data to improve credit decisions, financial risk management, and cyber-attacks. As a result, growth in requirement to modernize business operations is expected to propel the endpoint detection and response (EDR) market growth globally during the Endpoint Detection and Response Market Forecast.
Some key market players in the endpoint detection and response market, include Carbon Black Inc., Cisco Systems, Inc., Crowdstrike Inc., Intel Corporation, McAfee, LLC, Microsoft Corporation, Palo Alto Networks, Inc., RSA Security LLC., Symantec Corporation, and Trend Micro Incorporated. This study includes market trends, Endpoint Detection and Response Market Analysis, and future estimations to determine the imminent investment pockets.
KEY FINDINGS OF THE STUDY:
• By component, the solution segment dominated the Endpoint Detection and Response Industry in 2021. However, the services segment is expected to exhibit significant growth during the forecast period.
• On the basis of deployment mode, the on-premises segment dominated the endpoint detection and response market in 2021. However, the cloud segment is expected to witness the highest growth rate during the forecast period.
• Depending on organizational size, the large enterprises generated the highest revenue in 2021. However, the SMEs segment is expected to witness the highest growth rate in the near future.
• Depending on industry vertical, the IT & telecom industry generated the highest revenue in 2021. However, the retail industry is expected to witness the highest growth rate in the near future.
• Region-wise, the endpoint detection and response market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.
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