PUNE, India, March 8, 2016 /PRNewswire/ --
According to a new market research report "Application Control Market by Component (Solution, Services), Access Point (Desktops/ Laptops, Mobiles/Tablets, Servers), Organization Size (SMES, Large Enterprises), Vertical, Region - Global Forecast to 2020", published by MarketsandMarkets, the market size is estimated to grow from USD 1.25 Billion in 2015 to USD 1.90 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 8.7% from 2015 to 2020.
Browse 76 Tables and 52 Figures spread through 152 Pages and in-depth TOC on "Application Control Market"
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Application control solution blocks the unwanted and unauthorized applications from executing on various endpoints and safeguards them from Advanced Persistent Threats (APTs), zero-day malwares, and targeted attacks. As the frequency of targeted attacks on enterprises is growing, the market is expected to gain traction in the next five years.
The need to protect data against threats will drive the application control market
The major forces driving the application control market are the need to protect data against threats and limitation of traditional security solutions to protect against targeted attacks. In today's hyper-connected world, new and sophisticated threats such as APTs and zero-day exploits are putting critical company data, applications, and endpoints at risk. This has encouraged organizations to deploy application control solutions to protect the endpoints and applications running on them, from potential threats.
Professional services to play a key role in the application control services market
Professional services are expected to dominate the application control market and are estimated to grow at the highest rate during the forecast period. This includes implementation, training, technical support, consulting services, and customer support services, among others. The professional services offer comprehensive services via the latest techniques and tools, skills, knowledge, and strategies, to address the organization's security needs.
Banking, Financial Services and Insurance (BFSI) vertical expected to grow at the highest rate during the forecast period
The BFSI vertical is one of the most omnipresent industries prone to targeted attacks in today's digital inter-connected world. The BFSI vertical is expected to grow at the highest rate from 2015 to 2020, in the application control market. The market is also projected to witness growth in the healthcare and IT & telecom sectors during the forecast period.
North America expected to contribute the largest market share, Asia-Pacific (APAC) to grow the fastest
North America is expected to hold the largest market share and dominate the application control market from 2015 to 2020, due to the presence of a large number of security vendors. APAC offers potential growth opportunities, as there is a rise in the Bring Your Own Device (BYOD) adoption rate among organizations that in turn are deploying application control solutions to defend against potential threats to protect endpoints.
The major vendors in the application control market include Symantec Corporation, Intel Security, Trend Micro, Check Point Security Technologies Ltd., CyberArk, Digital Guardian, Carbon Black, AppSense, and Arellia, among others.
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The report covers detailed information regarding the major factors influencing the growth of the Application Control Market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers and acquisitions, partnerships, agreements, and collaborations, associated with the application control market.
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