Research Nester released a report titled “Cloud Endpoint Protection Service Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the cloud endpoint protection service market in terms of market segmentation by component, application, organizational size and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Cloud-based endpoint security is developed to protect the endpoint devices and provide network security. These devices include laptops, desktops, servers, mobile devices and any other technology that connects to the internet. Cloud-based endpoint protection is hosted by the vendor with businesses accessing it through the internet, rather than their own in-house servers.
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The cloud endpoint protection service market is projected to grow with a CAGR of 11% during the forecast period, i.e., 2023-2035 on account of Growing demand for cost-effective alternatives for on-premises security deployment and growth of smart devices.
Based on industry vertical the market is segmented into logistics and transportation, media and entertainment, banking, financial services, and insurance, telecom and IT, automotive, government, healthcare, manufacturing, retail and other end users. BFSI is expected to witness the highest growth, at a CAGR during the forecast period, since every minute includes a number of transactions made globally. The BFSI sector is one of the critical infrastructure segments that suffers several data breaches and cyber-attacks, owing to the large customer base that the industry serves and the financial information that is at stake. The financial service institutions have been identified to be four times more susceptible to cyber-attacks, as compared to other industries, which is expected to drive the demand for such solutions.
According to the report of mordor intelligence, in 2018, Equifax, one of the three largest credit agencies in the United States, experienced a breach of over 140 million accounts, and over 209,000 credit card related data being stolen. The segment carries a lot of sensitive data like outbound investor communications, account numbers, payment information, competitive market research, money transaction details, credit/debit card details, trading transactions, investment portfolio performance statements, and other critical information, which are needed to be protected from the cyber threats.
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