The rising use of endpoint devices and growing number of breaches and attacks on these devices is expected to spur the demand for cloud endpoint protection offerings across the globe. The global cloud endpoint protection market size is expected to reach USD 1,819.0 million by 2023, growing at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period.
The cloud endpoint protection market includes major vendors, such as Symantec (US), Sophos (UK), Trend Micro (Japan), ESET (Slovakia), Kaspersky Lab (Russia), Palo Alto Networks (US), McAfee (US), Fortinet (US), Cisco Systems (US), Panda Security (Spain), Avast (Czech Republic), SentinelOne (US), Bitdefender (Romania), Commvault (US), Carbon Black (US), FireEye (US), CoSoSys (Romania), Malwarebytes (US), K7 Computing (India), F-Secure Corporation (Finland), CrowdStrike (US), Comodo (US), Endgame (US), Webroot (US), and VIPRE Security (US). These players have embraced different growth strategies to expand their global presence and increase their market shares. New product launches and partnerships/collaborations are some of the significant strategies adopted by the major players to grow further in the cloud endpoint protection market. Several companies such as Symantec, Sophos, Trend Micro, ESET, and Kaspersky Lab have adopted these strategies to expand their product portfolio.
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Symantec is one of the leading providers of threat protection, information protection, cybersecurity, web security, storage, and system management products and solutions across the globe. The company has been following various organic as well as inorganic business growth strategies, such as mergers and acquisitions, new product launches, and product enhancements. For instance, in June 2018, Symantec announced new innovations and enhancements to its network security for the cloud generation solution that is designed to protect enterprise devices. Moreover, in December 2017, Symantec partnered with British Telecom (BT) to provide the best-in-class endpoint security protection.
Sophos offers security solutions for network security, end-user security, and server security. It mainly focuses on introducing new product offerings, thereby meeting its customers’ demands and driving its growth. For instance, in July 2018, Sophos launched Sophos Intercept X for Server, next-generation server protection with the predictive deep learning technology that provides constantly evolving security against cyber threats. It is built for enterprises that need to secure, manage, and store their mission-critical data in cloud. Moreover, in February 2018, Sophos launched Sophos Mobile 8, the latest version of its Unified Endpoint Management (UEM) and mobile security solution.
Cloud Endpoint Protection Market by Component, Solution (Antivirus, Anti-spyware, Firewall, Endpoint Device Control, Anti-phishing, Endpoint Application Control), Service, Organization Size, Vertical, and Region - Global Forecast 2023
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