The “Application Control Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Component, Access Points, Organization size, Vertical, and Geography” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market was valued at US$ 1,589.29 million in 2019 and is projected to reach US$ 2,236.35 million by 2027; it is expected to grow at a CAGR of 4.5% from 2019 to 2027.
The report highlights key factors driving the market growth, and prominent players and their developments in the market.
The rising number of cyber-attacks coupled with a significant increase in the number of connected devices and access points has increased the demand for superior monitoring as well as controlling of enterprise applications. As a result, the demand for extensive protection and coverage of end-point access has raised significantly and subsequently gained traction among numerous industry verticals. Thus, several market players operating in the application control market provide extensive business offerings that facilitate the advanced protection of enterprise applications through enabling a varying degree of control such as execution, monitoring, and authentication.
The application control-based solutions have an extensive scope of utilization for network security, enforcing control over servers, end-point protection, and authentication, among several other benefits to the end-user organization. Additionally, the advancement in application control tools has facilitated the integration of forensic control that automates the validation process, enable checks for inputs as well as data correctness, which provide advantages to the end users. Thus, the application control market is poised to provide numerous profitable business opportunities for market players during the forecast period.
Several factors such as rising number of cyber-threats, stringent regulator guidelines, and an increase in popularity of bringing your own device (BYOD) to work have factored in the positive growth of the market over the past few years. Furthermore, the rising popularity of application control among prominent market players present in different industry verticals also has contributed to the adoption of the solution in both developed and developing economies. Thus, the surge in demand for robust and efficient end-point protection has significantly propelled the growth of the market in recent years.
COVID-19 Impact on Application Control Market
The ongoing global pandemic of COVID-19 continues to bring long terms disruption across several major process as well as discrete industries. However, critical industries such as food & beverages, pharmaceuticals, power generation, and chemicals have noticed limited disruption during the pandemic across different economies owing to their significance in utilities and essential supplies. As a result, prevalence of nation-wide lockdown to minimize the transmission of COVID-19 has significantly disrupted the supply chain activities along with production of components, equipment, controller, and raw materials across several manufacturers especially the small & medium enterprise owners.
Check Point Software Technologies Ltd.
CyberArk Software Ltd.
WatchGuard Technologies, Inc.
Trend Micro Incorporated
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