Report : Europe 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)
At 8.1% CAGR, the Europe Endpoint Security Market is speculated to be worth US$ 6,932.97 million by 2028, says Business Market Insights
According to Business Market Insights' research, the Europe endpoint security market was valued at US$ 4,333.08 million in 2022 and is expected to reach US$ 6,932.97 million by 2028, registering a CAGR of 8.1% from 2022 to 2028. Substantial growth in number of vulnerable endpoints in devices and widening adoption of BYOD model are key factors driving the growth of the market.
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.
On the contrary, dynamic landscape of the endpoint attacks is acting as a market restraint.
Based on solution, the Europe endpoint security market is segmented into antivirus, antispyware, antimalware; firewall; endpoint device control; intrusion prevention; and endpoint application control. The antivirus, antispyware, antimalware segment held 46.5% market share in 2022, amassing US$ 1,500.46 million. It is projected to garner US$ 2,189.22 million by 2028 to expand at 6.5% CAGR during 2022-2028.
Based on services, the Europe endpoint security market is segmented into consulting, training & support, and managed services. The managed services segment held 50.4% market share in 2022, amassing US$ 555.90 million. It is projected to garner US$ 1,068.34 million by 2028 to expand at 11.5% CAGR during 2022-2028.
Based on deployment, the Europe endpoint security market is bifurcated into cloud and on-premise. The on-premise segment held 53.2% market share in 2022, amassing US$ 2,304.35 million. It is projected to garner US$ 3,471.14 million by 2028 to expand at 7.1% CAGR during 2022-2028.
Based on vertical, the Europe endpoint security market is categorized into government and defense, BFSI, retail, IT & telecom, healthcare, energy & utilities, education, and others. The IT & telecom segment held 24.5% market share in 2022, amassing US$ 1,060.34 million. It is projected to garner US$ 1,797.23 million by 2028 to expand at 9.2% CAGR during 2022-2028.
Based on country, the Europe endpoint security market has been segmented into France, Germany, the UK, Italy, Russia, and Rest of Europe. Our regional analysis states that Germany captured 23.8% market share in 2022. It was assessed at US$ 1,031.37 million in 2022 and is likely to hit US$ 7,435.75 million by 2028, exhibiting a CAGR of 9.0% during the forecast period.
Key players dominating the Europe endpoint security market are AO Kaspersky Lab; Avast Software s.r.o.; Cisco Systems, Inc.; ESET, spol. s r.o.; Fortinet, Inc.; McAfee, LLC; Microsoft Corporation; Palo Alto Networks, Inc.; Bitdefender; and F-Secure among others.
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