March 11, 2020
As per the report titled ‘LAMEA Endpoint Security Market Analysis Based on Deployment Model, Component Application, Regional Outlook, Industry Forecast, 2017 – 2024’, available with Market Study Report LLC, LAMEA endpoint security market is projected to surpass USD 300 million by 2024.
Increasing cases of online data thefts and network vulnerabilities are supporting the growth of LAMEA endpoint security market. Citing an instance, approximately 500 companies in Mexico were affected by the WannaCry ransomware attack in 2017, severely affecting the telecommunication, banking, and retail sectors. Increasing cases of cyber-attacks have encouraged government agencies and IT enterprises to implement endpoint security solutions to safeguard the networking infrastructure across the region.
Speaking of the application spectrum, BFSI sector is estimated to account for 26% share of LAMEA endpoint security market by the end of 2024. Rising preference towards digital transactions is increasing the demand for endpoint security solutions to maintain the confidentiality of information used or generated during transactions. The establishment of a unified regulatory framework coupled with data disclosure mandates and increasing expenditure on security solutions by enterprises will augment the product adoption in the BFSI sector.
Considering the regional outlook, LAMEA endpoint security market is segmented into Brazil, Gulf Cooperation Council, Mexico, Israel, Argentina, and South Africa. Israel endpoint security market is anticipated to witness a growth of 8% over 2017-2024, on account of increasing government initiatives towards cybersecurity programs, enabling security companies to test their technologies. Rising investments by the government to expand cybersecurity infrastructure in the country will foster the regional market growth in the forthcoming years.
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Major players inLAMEA endpoint security market are Webroot, Cisco, Trend Micro, ESET, Kaspersky Lab, McAfee, F-Secure, Symantec, Microsoft, VIPRE, Sophos, IBM, Ahnlab, Panda Security, and Comodo.
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