North America Endpoint Security Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – Solution (Antivirus, Antispyware, Antimalware, Firewall, Endpoint Device Control, Intrusion Prevention, and Endpoint Application Control), Services (Consulting, Training & Support, and Managed Services), Deployment (Cloud, On-premise), and Vertical (Government and Defense, BFSI, Retail, IT & Telecom, Healthcare, Energy & Utilities, Education, Others)
The endpoint security market in North America is expected to grow from US$ 5,355.89 million in 2022 to US$ 8,905.10 million by 2028. It is estimated to grow at a CAGR of 8.8% from 2022 to 2028.
Substantial growth in number of vulnerable endpoints in devices
In digital and connected workplaces, the influx of consumer electronics such as smartphones, tablets, notebooks, and wearables are growing at an unprecedented rate across IT & telecom, BFSI, retail, automotive, healthcare, and other major industries. Further, the rising number of successful IoT use cases and connected device in workplaces across industries is driving the adoption of IoT-connected devices in enterprises. According to Ericsson Mobility Report in 2019, the overall IoT connections are expected to rise from 10.8 billion in 2019 to 24.9 billion by 2025. Also, the rising adoption of technologies such as IoT and AI in various industries is increasing the demand for connected devices and driving the demand for advanced endpoint security solutions. Managing desktops, smartphones, tablets, laptops, and BYOD in large organizations is highly complex and costly. Many companies are facing the huge challenge of managing and controlling the ever-growing number of endpoints in their organizations. Endpoint security systems offer several functions, such as anti-virus, antispyware, antimalware, firewall, endpoint device control, intrusion prevention, and endpoint application control, which help the IT team secure the endpoints in various devices, such as desktops, smartphones, tablets, laptops. Thus, the rising number and variety of vulnerable endpoint in enterprises drive the demand for endpoint security solutions.
Market Overview
North America is a hub for verticals such as IT & telecommunication, BFSI, healthcare, education, and energy & utilities. These sectors have a large client base, which provides significant opportunities for endpoint security solution providers in the region. The leading position of North America in the endpoint security market is attributed to the increasing adoption of advanced technologies such as machine learning, industrial automation, and digitalization across various organizations. Endpoints of devices such as desktops, laptops, mobile phones, digital printers, point-of-sale systems, and Internet of Things (IoT) devices are exploited by cyber-criminals as easy targets of cyberattacks. The rise in remote working, or work-from-home models, has further bolstered the demand for robust endpoint security measures. The increased implementation of IoT devices, and social media and multimedia platforms has resulted in the overwhelming flow of data in structured or unstructured formats. According to an IBM Marketing Cloud study machine-based and human-generated data volumes are escalating 10-times faster than conventional business data. Further, as per the Ericsson Mobility Report, the mobile data traffic per smartphone in North America is expected to grow from 14.6 GB/month in 2021 to 52 GB/month by 2027 (27% growth). The increasing number of connected devices and the adoption of IoT technologies across different industries are expected to fuel the growth of the endpoint security market in North America during the forecast period.
North America Endpoint Security Market Revenue and Forecast to 2028 (US$ Million)
North America Endpoint Security Market Segmentation
The North America endpoint security market is segmented into solution, services, deployment, vertical, and country.
Based on solution, the market is segmented into antivirus, antispyware, antimalware; firewall; endpoint device control; intrusion prevention; and endpoint application control . The antivirus, antispyware, antimalware segment registered the largest market share in 2022.
Based on services, the market is segmented into consulting, training & support, and managed services . The managed services segment registered the largest market share in 2022.
Based on deployment, the market is bifurcated into cloud and on-premise . The on-premise segment registered the largest market share in 2022 .
Based on vertical, the market is categorized into government and defense, BFSI, retail, IT & telecom, healthcare, energy & utilities, education, and others. The IT & telecom segment held the largest market share in 2022.
Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
AO Kaspersky Lab; Avast Software s.r.o.; Cisco Systems, Inc.; ESET, spol. s r.o.; Fortinet, Inc.; McAfee, LLC; Microsoft Corporation; and Palo Alto Networks, Inc. are the leading companies operating in the endpoint security market in the region.
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