Logo
Wednesday, 12 August 2020
Logo
The News and Media Division of The Insight Partners
Thursday, 30 Jul 2020 07:00 pm

Government Mandates to Tackle IT Threats Securing the Growth of Application Control Market

Banks, insurance companies, IT companies, and other financial services companies are hugely using application control as they handle large volumes of personally identifiable data on daily basis. That is the main reason that use of application control has become essential for large as well as small companies as these are highly vulnerable to hackers.

newsImage
 

Since past few years, many organizations have implemented application control-based solutions for the utilization of network security, end-point protection, control over servers, and authentication among several other benefits the end-user organization. After the market research, the report of The Insight Partners predicts that the global application control market will grow to US$ 2.23 billion by 2027 at a CAGR of 4.5% in next few years.

Data shows that the banks, insurance companies, IT companies, and other financial services companies are hugely using application control as they handle large volumes of personally identifiable data on daily basis. That is the main reason that the use of application control has become essential for large as well as small companies as these are highly vulnerable to hackers.

Rising number of cyber-threats, increasing popularity of BYOD to work, and stringent regulator guidelines are some of the main factors that are driving the growth of the global application control market. Also, application control is becoming major concern among major companies. Thus, the demand for robust and efficient end-point protection is surging. Moreover, the growing emphasis towards the improvement of overall IT security and infrastructure for data protection and cyber-attacks is also fuelling the market growth.

The application control in large-scale business environment ensures 100% server protection and safe workstation to perform mission-critical services. The application control solutions or services are cost-effective as well as proved profitable for large businesses. But, due to limited financial budget, SMEs are able to afford the limited enforcement of cyber-security laws. And this factor may threaten the market growth as per the experts’ opinion.

Europe has largest availability of IT enabled infrastructure in all industrial verticals. Plus, the presence of several developed countries including the UK, Germany, France, Netherlands, Spain, and Italy are significantly contributing in the market share. The plus point is that the European Union has strict regulatory guidelines for the prevention of cyberattacks. As a result, last year Europe dominated the global application control-based solutions market.

Moreover, Asia has world’s largest the banking sector for decades. And IoT software has proven helpful for banking sector to protect assets by not only blocking virus but also restricting access to unnecessary applications. With the increasing use of technology in this sector, analysts predict that Asia-Pacific region may account the largest share in next few years.

But if we study the global market, governments of many countries—including The United States, the UK, Germany, and Singapore—have regulated tech companies with data encryption and protection laws. These firms are leveraging the regulatory environments for accelerating the penetration of application control.

Broadcom Corporation, Cambium Networks, Carbon Black, Inc., Check Point Software Technologies Ltd., and Cyberark Software Ltd. are some of the major companies that are dominating the application control market. While some companies are seen adopting various strategic activities including product development, mergers and acquisition, partnership and collaborations to expand their business on global platform. The implementation of these strategies are mostly observed in the North America market.

Industry experts believe that the strategic activities help companies involved in the market to not only maintain their brand but also expand the customer base across the world.

Tags Application Control Market Cyber Security Data Protection Banking

Previous Post
Next Post

Nexa3D Acquires NXT Factory

Wednesday, 05 Aug 2020
Neha Mule

Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

media@smartmarketnews.com | sales@smartmarketnews.com

Contact Us
Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter

A PHP Error was encountered

Severity: Notice

Message: Undefined index: csrf_token

Filename: include/footer.php

Line Number: 149

Backtrace:

File: /home/smartmarketnews/public_html/application/views/include/footer.php
Line: 149
Function: _error_handler

File: /home/smartmarketnews/public_html/application/views/news_details.php
Line: 791
Function: view

File: /home/smartmarketnews/public_html/application/controllers/News_controller.php
Line: 227
Function: view

File: /home/smartmarketnews/public_html/index.php
Line: 315
Function: require_once

">
Follow Us:
© The News and Media Division of The Insight Partners 2019 | All Rights Reserved | Privacy Policy