Application Control Market Growth Prospectus with 4.5% of CAGR by 2027 – Ivanti, Mcafee, Trend Micro Incorporated, Veracode, Watchguard Technologies

According to the new research report, titled “Application Control Market – Global Analysis and Forecast to 2027,” published by The Insight Partners, the market is expected to reach US$ 2,236.35 million by 2027, registering a CAGR of 4.5 % during 2020–2027.

Furthermore, the banking sector is getting heavily burdened with big data pertaining to the fact that businesses and consumers are becoming more digital. The integration of IoT in the banking sector results in the use of better security solutions to protect customer’s data. Over 40 of the 100 major banks across the world are Asian and hold nearly 50% of market capitalization. The region’s banking sector has been the world’s largest market for decades. Thus, with the help of IoT software, the businesses can protect their assets by blocking virus and restricting access to unnecessary applications in industries, especially in banking.

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The application control market in APAC has been analyzed based on historical, current, and future trends in the countries across the region. The presence of developing economies such as China, India, South Korea, Malaysia, the Philippines, and Taiwan helps in making Asia a developing nation. Stable economies and technological advancements support the growth of diversified industries and markets in Asia. Growth in the nation’s economy and technological advancements support the growth of diversified industries and markets in Asia. The region has the potential to invest a massive amount on security of hardware, software, and services to prevent external attacks on companies. Factors such as rising penetration of connected devices, the inclination of both public & private sectors for cloud solutions, and execution of advanced cybersecurity in countries such as Singapore, Australia, and India act as accelerators to improve security spending within the Asian countries, which in turn will increase the adoption rate of application control solutions. Moreover, the Association of Southeast Asian Nations requires to notably escalate its overheads on cybersecurity to handle digital threats and restrict unwanted access of applications to ensure a growing digital economy.

Strategic Insights

Companies present in the application control marketare adopting different strategies including product development, acquisition, and other expansion related strategies to expand their footprint worldwide by meeting the growing demand for their offerings. This strategy is mostly observed to be implemented in the North America market. A few of the recent initiatives in the application control market are listed below:

2020: Check Point Software Technologies announced the expansion of the company’s on-going share repurchase program by an additional US$2 billion. Under this extended repurchase program, the company will continue to repurchase up to US$325 million each quarter.

2020: Ivanti released Ivanti Security Controls offering comprehensive patch management for operating systems and third-party applications on physical and virtual servers and desktops. The solution also enables dynamic whitelisting and granular privilege management from a single management console.

2019: Broadcom Inc. announced an acquisition of Symantec Corp.’s enterprise security business. The acquisition effectively split Symantec into two, with Broadcom taking over its portfolio of enterprise security products and the Symantec brand name. Symantec is left with its consumer product portfolio, which includes the Norton antivirus software and LifeLock identity protection brand.

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Tags: Application Control, Application Control Market, Application Control Market 2020, Application Control Market 2027