South & Central America Endpoint Security Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – (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 South & Central America is expected to grow from US$ 712.93 million in 2022 to US$ 1,078.68 million by 2028. It is estimated to grow at a CAGR of 7.1% from 2022 to 2028.
Burgeoning adoption of BYOD model
The information technology infrastructure has grown more complicated and heterogeneous over the past five years due to the introduction of new platforms, BYOD (bring your own device) regulations, CYOD (choose your own device) trends, business apps, and other technologies. The trends of BYOD and CYOD are becoming common in business settings due to the rapid developments in mobile computing. As a result of these developments that are implemented by different organizations, employees can access organizational data through mobile devices from anywhere, 24/7. As customers become more tech-savvy and their lifestyles become more mobile, it is no wonder new technologies are making their way into the office. The BYOD movement is gaining popularity among both large and small enterprises. Due to the flexibility of devices, employees have a great deal of control and convenience over when and how they carry out and complete their work. A BYOD strategy can enhance not only employee morale but also productivity, creativity, communication, and cooperation. For years, even before the COVID-19 outbreak, businesses began shifting to BYOD policies. This made practical and interpersonal sense to some extent. On the practical side, users/employees operate more efficiently on their personal devices, such as laptops and mobile devices. On the interpersonal level, users feel more at ease using those technologies, which fosters positive attitudes about their work. However, as organizations adopted this more open-ended and free-form endpoint policy, they began to face additional issues. First, keeping a close eye on all of the devices connected to the network proved difficult; second, delivering a consistent layer of cybersecurity across all of the countless connecting devices was a new issue. As a result of increased cases of cyberattacks due to the adoption of BYOD models, businesses are purchasing endpoint security services to secure devices, such as smartphones, tablets, desktop computers, and laptops, that are present on office premises and those with remote access to the corporate network. The market for endpoint security is anticipated to rise due to the large increase in expenditure on endpoint security solutions and services.
Market Overview
Brazil, Chile, Argentina, Peru, and Colombia are among the key countries in South & Central America. The ongoing digital revolution in major South & Central America countries is making them a potential target for cyber threats. Half of the South & Central American country's population uses the internet. According to Atlantico, technology penetration has been quickly increasing at a rate of 50% of GDP every year. Moreover, the region is increasingly adopting technologies such as IoT in the industrial sphere. The rising use of vulnerable devices and services, such as virtual private networks (VPN), poses a risk to any enterprise.
South & Central America Endpoint Security Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Endpoint Security Market Segmentation
The South & Central America endpoint security market is segmented into solution, services, deployment, and vertical.
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 Brazil, Argentina, and Rest of SAM. Brazil 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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