Cybercriminals are aware that they can gain pertinent data from a user such as social security, credit card, and bank account numbers, and then sell the information or use it for ill-gotten gains. In 2009, protection from these types of threats continues to drive the consumer and business endpoint market.
Vendors continue to integrate products such as DLP, encryption, and advanced proactive technologies in to endpoint security suites as a means to provide in-depth protection to users.
New analysis from Frost & Sullivan (networksecurity.frost.com), 2010 World Endpoint Security Products Market, finds that the market earned revenues of approximately $4.2 billion in 2009 and forecasts this to reach $7.9 billion in 2016.
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"In the past few years, malware threats have increased, becoming quite a lucrative business for cybercriminals," explains Martha Vazquez, Research Analyst in Frost & Sullivan's network security practice. "In the current landscape, cybercriminals have created sophisticated, highly-organized crime rings that are profit-motivated. Attacks are arriving from various methods that include phishing, compromised URLs, drive-by downloads, and vulnerabilities, among others."
The most influential data breaches in the wireless industry still remains with TJX Cos., which occurred in 2006. At least 45 million credit and debit cards were stolen; the information was taken from TJX's database by intercepting wireless signals in two Marshall's stores. Weak security measures and a lack of policy regulation caused the breach. Without maintaining proper compliance and regulations, the cost of this breach was tremendous.
With data breaches on the rise, organizations are also required to comply with government regulations to help secure consumer and company financial data. Additionally, the increase in remote workers is driving an increase in wireless devices, driving the need to secure remote networks as well. Businesses are being scrutinized in complying with stringent regulations; updated regulation such as The Payment Card Industry Data Security Standard (PCI-DSS) is continuing to stir the endpoint security market.
Unfortunately the downturn in the economy has driven many businesses to look at consolidating vendors or not upgrading to new security solutions. Ironically, network security is still a requirement for all businesses, but businesses are still challenged to spend on security technologies that are not considered a necessity.
"The endpoint security market is an established, mature market," cautions Vazquez. "As a result, vendors in the market continue to pile on value-added services, but typically the market is already covered by several large network security companies. Additionally, more vendors such as Microsoft are launching free consumer security products as a means of gaining potential market share in the future."
In this market, with the economy still trying to stabilize, it is important for vendors to offer competitive pricing and offer advanced, value-added security technologies with their products.
"Endpoint Security vendors need to offer more than ever a variety of enriched security solutions, and offer advanced ways to keep up with new and complex threats," adds Vazquez. "As the technologies advance and become more cost-effective, endpoint security vendors need to offer a breadth of products that will focus on hosted services and virtualization."
World Endpoint Security Products Market is part of the Network Security Growth Partnership Service program, which also includes research in the following markets: IDS/IPS, SSL-VPN, authentication, endpoint security, firewalls, NAC, wireless IDS/IPS, and mobile anti-malware. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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World Endpoint Security Products Market / N6BC