Endpoint Security is now a basic necessity for every organization
Endpoint security is an essential practice to guard endpoints of devices like desktops, laptops, and mobile phones, from fraudulent activities. Endpoint security systems work by protecting these endpoints on a network to save the data from cyber security threats. In addition, cybercrimes are not confined to basic practices anymore. They have evolved to an extent that demands advanced practices to prevent these frauds. The traditional antivirus software is no longer enough to guard the device against sophisticated malware. Thus, organizations are improving their offering through robust launches and significant collaborations. For instance, Avira acquired Investcorp Technology Partners in the year 2020.
A study by Astute Analytica states that the global Endpoint security market is forecast to grow at a compound annual growth rate (CAGR) of ~9% during the forecast period from 2020 to 2025. It is attributed to the factors like increasing deployment of cloud and cloud-based platforms among all verticals and rising demand for smart devices like laptops, computers, etc.
All organizations, whether BFSI, healthcare, government, energy, are facing risk due to the growing number of hackers globally. Malicious and accidental insider threats are growing rapidly. A study by Palo Alto Networks says that approximately 40,261 suspicious domains were reported at the end of March 2020. Needless to say, endpoint security is considered at the forefront of cybersecurity and is the primary need of every organization to save their network.
Healthcare
Cyber-attacks have become horrifying for every industrial vertical. They are no longer limited to the banking and government sector. Even the healthcare industry is witnessing powerful threats, which increases the demand to implement endpoint security.
With the growing automation in the healthcare industry, data traffic is inarguably increasing. A massive data is collected via the interaction of individuals through staff. Electronic health records (EHR) include enormous data related to one’s personal details, medical data, and even financial details. Thus, the healthcare industry is undoubtedly a rich source of information, making it the best target for cybercriminals.
Furthermore, the growing use of connected devices is escalating the chances of risks than ever before. Therefore, endpoint security is now a basic necessity for the healthcare industry. It also offers traditional capabilities, such as antivirus software and special protections for its medical devices, including Wi-Fi security.
BFSI
The rapidly growing digitalization is surging the demand for efficient security services. BFSI is one of the prominent sectors that contain sensitive data of individuals and companies. It can significantly affect the wealth of the person if hacked.
The growing digitalization in the emerging economies, mainly in Asia, is expected to drive the demand for security solutions in the coming years. According to the Reserve Bank of India (RBI), electronic transactions accounted for 95.4 percent of the total volume of retail payments in 2018-19. Thus, the suddenly changing environment needs high security.
Industry players are focusing on introducing better solutions than ever before. CrowdStrike unveiled endpoint recovery services in February 2020. The services are likely to offer CrowdStrike Falcon platform, threat intelligence, and real-time response with the aim to boost recovery from cyber intrusions.
Government
Smartphones, tablets, wearables, Internet of Things (IoT) technologies, and other non-traditional gadgets that may connect to business systems or the Internet are examples of endpoints. Agencies are witnessing a massive amount of data constantly entering into their networks, all because of work from home policies.
Governments need to function properly, and for that, they need high security at every point in time. In the government sector, the flow of data is essential. Moreover, this sector is also equally prone to cyberattacks. The sector contains sensitive information related to essential infrastructure, citizens, and public safety. The security of government information systems is undoubtedly necessary in order to guard the people against attempted attacks.
In February 2020, Broadcom unveiled Wi-Fi 6E chip for mobile devices. Wi-Fi 6E expands the Wi-Fi 6 standard to include compatibility for the soon-to-be-available 6 GHz band. Moreover, such advancements are crucial in order to cope with the growing demands and protect people from advanced malware attacks.
Energy
Cybercrimes are also a considerable threat to the energy sector. In 2018, the Federal Energy Regulatory Commission (FERC) registered 16 cases of market manipulation. Botnets are becoming highly prevalent are easily accessible on various sites for criminals to hire and use as they see fit.
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