Malware Detection Solutions Grow Popular for Preventing Cyber- attacks amid COVID-19 Crisis
With the help of a sophisticated malware detection, businesses have been able to protect their networks from common cyber security threats during the coronavirus crisis. The significant rise in remote working activities has brought companies in the endpoint detection and response (EDR) market under the spotlight for providing secure and reliable endpoint software.
Work from home policies have exposed the vulnerabilities of an organization’s network, owing to a shared environment, thus triggering the demand for an EDR software. In order to prevent unprotected endpoints and security breach, companies in the endpoint detection and response (EDR) market are increasing their marketing capabilities to reach their right target clients who have shown a renewed interest and adoption for malware detection solutions.
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Implementation Challenges, Missing Full-disk Encryption Create Disputes with Vendors
The endpoint detection and response (EDR) market is slated to register an astonishing CAGR of ~21% during the forecast period. However, users sometimes face implementation challenges, missing full-disk encryption, and extra cost for advanced features. As such, advantages such as easy cloud-based implementation appears to bring down cost of features including the advanced ones. Vendors are running third party security tests for software in order to achieve full-disk encryption.
Artificial intelligence (AI) and behavioral analytics are being incorporated into software by companies operating in the endpoint detection and response (EDR) market. Palo Alto Networks, Inc.- a U.S. multinational cyber-security company, is gaining recognition for its Cortex XDR system, which is capable of handling advanced attacks.
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Automated EDR Solutions Being Preferred with High-end Endpoint Defenses
The endpoint detection and response (EDR) market is projected to surpass the valuation of US$ 13.8 Bn by 2030. Cyber-security has become a top priority for stakeholders in BFSI, government, defense, and healthcare sectors. Kaspersky Lab – a multinational cyber-security and anti-virus provider is recognizing this requirement and is offering its EDR solution compounded with high-end endpoint defenses while cutting costs.
Cybercriminals are becoming ever more sophisticated at successfully bypassing existing protection, thus exposing every area of the business enterprise. Hence, companies in the endpoint detection and response (EDR) market are offering solutions that exhibit full endpoint protection cycle and enable automatic threat blocking. Routine automation tasks must involve discovery, prioritization, investigation, and neutralizing complex threats.
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Threat Intelligence Includes Reduction in False Positives, Accurate Incident Triage
Next-gen endpoint security solutions improve productivity of operational security personnel and low total cost of ownership. Companies in the endpoint detection and response (EDR) market such as McAfee are gaining popularity for their software platforms that facilitate detection and response to targeted attacks and offer comprehensive analysis of malicious activities. Behavior analysis is becoming a fast growing phenomenon in endpoint software platform in order to trace attacks on the shared corporate networks.
Threat intelligence involving shared local threat intelligence and externally acquired threat intelligence sources are being preferred in EDR platforms. Vendors in the endpoint detection and response (EDR) market are taking additional efforts to reduce the need to chase false positives and deploy more accurate incident triage.
Micro-segmentation of Data Centers in BFSI Helps Simplify Security Compliance
The highly competitive environment in the endpoint detection and response (EDR) market has compelled vendors to offer robust features in software platforms. However, increase in cloud workloads, third party integrations, and complex security infrastructure in the BFSI sector pose as hurdles for its stakeholders. Companies in the endpoint detection and response (EDR) market are stepping in to resolve these issues by defining segments that prevent lateral movements. Enabling secure micro-segmentation of data centers in BFSI, spanning across multi-cloud environments will ensure access to those applications purely based on intent.
The simplification of compliance is ameliorating issues associated with complex security infrastructure in the BFSI sector. Vendors are offering fully customizable lockdown solutions in case of any security breach during third part integrations.
Endpoint Detection and Response (EDR) Market: Overview
- According to Transparency Market Research’s latest research report on the global endpoint detection and response (EDR) market for the historical period 2018–2019 and the forecast period 2020–2030, the market is anticipated to cross the value of US$ 13.8 Bn by 2030, expanding at a CAGR of ~21% during the forecast period. Growing trend of Bring Your Own Devices (BYODs) among enterprises, increasing number of endpoints, rising endpoint attacks and breaches and modification of IT risks are some of the factors fueling the growth of the endpoint detection and response (EDR) market.
- North America is anticipated to emerge as the leading endpoint detection and response (EDR) market, followed by Europe and Asia Pacific
Increasing Adoption of Remote Working: A Key Driver of Endpoint Detection and Response (EDR) Market
- Cyber-attacks are rapidly evolving, putting millions of users at risk worldwide. A sudden increase in remote working adoption has been observed in the last 1.5 years. The primary reason for the adoption of remote working is COVID-19. Remote working is estimated to reduce a company’s overall cost besides increasing the productivity. Research shows that businesses lose US$ 600 Bn a year to workplace distractions, and remote workers are 35% to 40% more productive than their in-office counterparts, which, in turn, is estimated to fuel the endpoint detection and response (EDR) market. Increased telework and cyber security skills shortage makes monitoring and securing the endpoint more complex, which is driving the deployment of endpoint detection and response (EDR). Employees working remotely are potential targets for new cybersecurity risks compared to those working in the office. This is projected to boost the endpoint detection and response (EDR) market.
- Endpoint detection and response (EDR) provides organizations with the ability to respond remotely to cyber incidents, and to identify, investigate, and respond to advanced and complex malware threats. Rise in personal computer use for working is a primary reason for rising deployment of endpoint detection and response (EDR). Endpoint detection and response (EDR) companies react quickly to help customers move to a remote workforce. For instance, VMWare Carbon Black removed license limits for current customers, allowing them to deploy EDR to all users, which is expected to trigger the growth of the endpoint detection and response (EDR) market during the forecast period.
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