Frost Radar™:
Endpoint Security,
2023
Authored by: Sarah Pavlak

A Benchmarking Systemto Spark Companies toAction - Innovation ThatFuels New Deal Flow andGrowth Pipelines
October 2023
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Strategic Imperativeand GrowthEnvironment2Strategic Imperative
The endpoint security market fluctuates. Changing work environments and continuously evolving cyberthreats drive the market’s technological advancement. Addressing new endpoint security product use
cases and applications helps market leaders maintain a competitive edge and sustain growth.

•The threat landscape is changing because cyberattacks are more lucrative, and new cybercriminalgroups are emerging. Enterprise attack surfaces are expanding because more individuals use theirdevices and connect remotely. Attackers exploit remote working environments with various endpoint
devices, lacking proper security management.

•Some organizations lack the resources or expertise to defend against cyberattacks targeting IoT
devices. Some outdated IT security methods cannot recognize IoT endpoints as entry points for
attack, offering cyber criminals an open door to the corporate network. Some unmonitored IoTdevices send unencrypted messages within and outside a corporate network, allowing hackers tointercept sensitive data. Endpoint security solutions can detect this through continuous datacollection and behavioral analytics.

•Remote work and bring your own device (BYOD) add to the challenges of protecting endpoints because of
the increase in the number of devices and an organization’s lack of physical control over them.
Source: Frost & Sullivan

3Strategic Imperative (continued)•

Endpoint security paired with network security solutions deliver on the ideal of a holistic, zero-trust
security architecture—the future of security portfolios. Some vendors already offer such integrated
solutions, and more will embrace the strategy in the next few years.

•Organizations know they must improve their cybersecurity posture. Security technologies and thethreats they aim to thwart are becoming more sophisticated and complex, prompting enterprises toemploy advanced technologies such as extended detection and response (XDR) as a consolidation
strategy.

Source: Frost & Sullivan4

Growth Environment•In 2023, enterprise spending on endpoint security solutions is projected to exceed $12.2 billion
globally. Frost & Sullivan projects spending to reach $22.3 billion by 2027, achieving a compound
annual growth rate of 16.2%.

•In response to cyberattacks' increasing severity and sophistication, the endpoint security market

has had strong double-digit growth over the last five years. A growth driver is organizations
migrating to the cloud—transitioning from on-premises to cloud-delivered solutions.
•Continued growth in endpoint devices, BYOD, and IoT device connectivity will increase
enterprise web traffic and enterprises’ need for endpoint protection capabilities. More deviceson the network will require scaling and more security services. Some vendors offer endpoint
protection platforms (EPP).

•Many organizations have shifted to hybrid workspace environments after a period of fully
remote work at the start of the COVID-19 pandemic. However, that has opened them to newrisks and forced IT security to counter unknown threat vectors as users work outside traditional
network security perimeters.

Source: Frost & Sullivan

5Growth Environment (continued)•Secure access service edge (SASE), zero trust, and platform integration will enhance endpoint
security’s efficacy and value. These factors will contribute to industry growth.

•The banking, government, healthcare, and manufacturing industries have experienced novel andpreviously unseen types of cyberattacks during the pandemic years. These industries remain
vulnerable, driving the need for better endpoint security solutions.

•Threats will continue to evolve and challenge existing endpoint security solutions. Ransomware
will remain a prominent threat, and endpoint security vendors will innovate and deliver newsolutions to counter advanced threats.

Source: Frost & Sullivan

6Frost Radar™
Global Hiring
Platform Market7

Frost Radar™: Endpoint Solutions, 2023

Source: Frost & Sullivan

8Frost Radar™
Competitive Environment•In a competitive field of more than 50 participants globally in the endpoint security space,
Frost & Sullivan independently plotted 18 growth and innovation leaders in this Frost Radar
analysis.

•Security vendors continuously innovate and expand endpoint security features and functions
to make their technologies more competitive and better able to counter increasingly
sophisticated cyberattacks.

•Vendors recognize the shift to platform service consolidation and are making theirtechnologies capable of merging with broader solution suites. The ability to offer unified
device security is a significant factor as customers seek to consolidate their security solutions
and reduce the management overhead of an expanded security perimeter.

•The endpoint security market is saturated, mature, highly competitive, and crowded. The
technology is becoming commoditized, but vendors are developing functions and features tocounter new threats and adjust to changing standards.

Source: Frost & Sullivan

9Significance of Being on the Frost Radar™
GROWTH POTENTIAL
Your organization has significant future growth potential, whichmakes it a Company to Action.

BEST PRACTICES

Companies plotted on theFrost Radar™ are the leadersin the industry for growth,innovation, or both. They areinstrumental in advancing theindustry into the future.

Your organization is well positioned to shape Growth Pipeline™ bestpractices in your industry.

COMPETITIVE INTENSITYYour organization is one of the key drivers of competitive intensity inthe growth environment.

CUSTOMER VALUEYour organization has demonstrated the ability to significantly
enhance its customer value proposition.

PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain
partners, and future talent as a significant value provider.
Source: Frost & Sullivan

10Companies to Action:
Companies to Be Considered First for
Investment, Partnerships, or Benchmarking

11Company to Action: Jamf
Innovation•According to Jamf, Apple systems and devices require unique security solutions, so it focuses onprotecting the Apple platform and preserving the native Apple experience. It is the only vendor in theendpoint security market developing “Apple-first” solutions.

•Zero-touch deployment allows for devices to be pulled into management and secured from the firsttime they are powered on. This requires no administrator interaction on the hardware.

•Jamf’s endpoint security solution, Jamf Protect, provides real-time detection of malicious applications
and scripts and recommended user actions, consistent vulnerability management, threat prevention,and policy control and security reporting across all Mac and mobile platforms including MacOS, iOS
iPadOS, and Android. Additional web threat protection includes these platforms and extends toWindows and Chromebooks.

•Over the past few years, Jamf has dramatically expanded its configuration and auditing framework tohelp customers meet complex compliance standards. Jamf has also enhanced the richness of its
endpoint telemetry for export to third-party log collection and analytics tools.

Source: Frost & Sullivan

12Company to Action: Jamf (continued)
Innovation•Jamf’s endpoint security solutions provide consistent policy enforcement and support for bothcompany-issued and personal devices.

•Jamf‘s Trusted Access is the only solution specifically built for Apple devices that combines device
management, identity and access, and endpoint security.

Source: Frost & Sullivan

13Company to Action: Jamf (continued)
Growth•Jamf has invested significantly in endpoint risk assessment integrations with modern security policy
frameworks, including conditional access policies, zero-trust network access (ZTNA) policies,
Microsoft Device Compliance, AWS Verified Access, and Google BeyondCorp access rules. The
company plans to continue improving Mac and mobile EDR capabilities to combat evolving
sophisticated threats.

•Jamf’s growth strategy is differentiation as the only Apple-first security solution provider. This

includes continuing its leadership status in Mac management and security, focused on the customerexperience. The company has seen above-average revenue growth and a net retention rate exceeding
100%, which will likely continue as organizations continue to invest in Apple devices.
•Jamf’s R&D team regularly monitors developments in the Apple ecosystem to ensure Jamf products,

specifically those in device management and identity and endpoint security, can support new updates
and features on Apple product release days.

Source: Frost & Sullivan

14Company to Action: Jamf (continued)
Frost Perspective•

Jamf should continue to capitalize on its unique value proposition in the endpoint security market.
Jamf should add security awareness training programs, which are not as prevalent as in othermarkets, such as email security, into its business strategy and service suite. Phishing training todefend against user-initiated risks could attract more customers and be a gateway into other markets.

•Continuing to expand its unique product portfolio with more integrations will set the company up fora merger or acquisition opportunity with a more prominent endpoint security vendor.

•Focusing on Mega Trends directly related to growth opportunities, such as extending its reach into
network security and further into ZTNA will increase Jamf’s customer base for those working
specifically with Apple devices and looking for a multi-tiered security strategy.

Source: Frost & Sullivan

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KeyTakaways

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Key Takeaways

1Stand-alone endpoint security solutions can be too complex for some organizationsto manage effectively. Unifying EPP and EDR within a single cloud-based platform
allows these complementary solutions to protect endpoints comprehensively.
Enterprise attack surfaces have grown. Threat risk is one of several trends (including
technological innovation and platform consolidation) driving EDR and XDR adoption.

2The migration from EDR to XDR is accelerating and generating attention: XDR offers aunified suite of EDR and related security technologies and provides broader,extended visibility into all phases of an attack on an endpoint. This allows securityteams to monitor any changes to the environment, thwart an attacker, or launch amanual investigation at any attack stage.

3

Many customers have too many siloed security solutions. This patchwork
complicates security administration, makes communication between solutionsdifficult, and can create significant security gaps. Customers want fewer, better,and more comprehensive security solutions.

Source: Frost & Sullivan

17Key Takeaways

4

End-to-end visibility solutions (platforms or suites) ensure better endpoint security andan easier means to locate and address any security issues that may arise. They are alsoeasier to administer, offering single-pane-of-glass monitoring and unified security policydevelopment. A customer aims to access an integrated, secure cloud solution that
supports zero trust access.

5Deploying a security suite that combines endpoint security capabilities is better forcustomers than a piecemeal, multivendor, point-solution approach. To gain andpreserve momentum in the market, EDR vendors must consider these considerations
and pursue integrated platform development strategies.

Source: Frost & Sullivan

18Frost Radar™
Analytics

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Frost Radar™: Benchmarking Future Growth Potential
2 Major Indices, 10 Analytical Ingredients, 1 Platform
GROWTH INDEX ELEMENTS
VERTICAL AXIS
Growth Index (GI) is a measure ofa company’s growth performanceand track record, along with its
ability to develop and execute afully aligned growth strategy andvision; a robust growth pipeline
system; and effective market,competitor, and end-user focusedsales and marketing strategies.

• GI1: MARKET SHARE (PREVIOUS 3 YEARS)This is a comparison of a company’s market share relative to itscompetitors in a given market space for the previous 3 years.

• GI2: REVENUE GROWTH (PREVIOUS 3 YEARS)This is a look at a company’s revenue growth rate for the previous 3 years
in the market/industry/category that forms the context for the given Frost
Radar™.

• GI3: GROWTH PIPELINEThis is an evaluation of the strength and leverage of a company’s growth
pipeline system to continuously capture, analyze, and prioritize its
universe of growth opportunities.

• GI4: VISION AND STRATEGYThis is an assessment of how well a company’s growth strategy is alignedwith its vision. Are the investments that a company is making in newproducts and markets consistent with the stated vision?

• GI5: SALES AND MARKETING• This is a measure of the effectiveness of a company’s sales and marketing
efforts in helping it drive demand and achieve its growth objectives.
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Frost Radar™: Benchmarking Future Growth Potential
2 Major Indices, 10 Analytical Ingredients, 1 Platform

INNOVATION INDEX ELEMENTS
HORIZONTAL AXIS
Innovation Index (II) is a measureof a company’s ability to develop
products/services/solutions (witha clear understanding of
disruptive Mega Trends) that are
globally applicable, are able toevolve and expand to serve
multiple markets, and are aligned
to customers’ changing needs.

• II1: INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally
scalable and applicable in both developing and mature markets, and also
in adjacent and non-adjacent industry verticals.

• II2: RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as
determined by the size of its R&D investment and how it feeds theinnovation pipeline.

• II3: PRODUCT PORTFOLIOThis is a measure of a company’s product portfolio, focusing on therelative contribution of new products to its annual revenue.

• II4: MEGA TRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, longterm opportunities and new business models, as the foundation of its
innovation pipeline. An explanation of Mega Trends can be found here.

• II5: CUSTOMER ALIGNMENTThis evaluates the applicability of a company’s
products/services/solutions to current and potential customers, as well ashow its innovation strategy is influenced by evolving customer needs.
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