The application control market in Europe was valued US$ 505.6 million in 2019 and is projected to reach US$ 726.8 million by 2027; it is expected to grow at a CAGR of 4.7% from 2020 to 2027.
Several factors such as recent rising cyber threats, stringent regulatory guidelines and increasing popularity of Bring-Your-Own device (BYOD) to work have factored in significantly, resulting in positive growth of the market over the past few years. Furthermore, the rising popularity of application control among prominent market players among different industry verticals has contributed in the adoption of the solution in both developed and developing economies. Thus, the surge in the demand for robust and efficient end-point protection has significantly propelled the growth of the market in recent years. Moreover, the rising emphasis toward improving overall IT security and infrastructure by end users and regulatory agencies to prevent data loss and cyberattacks is anticipated to fuel the market growth during the coming years. However, the factors such as limited enforcement of cyber-security laws and adoption of solution among small and medium market players continue to restrain the overall market growth during the coming years.
The scope of application control across the industries to prevent systems and devices from getting exposed to cyber-attacks is increasing. An application control audit is designed to ensure that the transactions through applications and the data it outputs are secure, accurate, and valid. The application control audit services are gaining high momentum as the applications are becoming the primary target of attack for different malicious activities. These services ensure that the software is free from errors and vulnerabilities that could be exploited by hackers. The application testing services are heavily used for mission-critical operations. The application control audit services are offered as cloud-based testing services, facilitating application control audit, software composition analysis, static analysis testing, and vendor application security testing. Companies such as ISECI International and Veracode provide these services and assist their clients to stick to HIPAA, PCI 6.5, and other compliances as well as to a wide array of other regulatory frameworks, including FISMA, SOX, and NIST 800-53.
In terms of component type, the solution segment led the Europe application Control market in 2019 the largest share, and it is expected to continue to be the largest shareholder during the forecast period. However, the services component type segment is expected to grow at the highest CAGR in the application control market during the forecast period. The application control solution is provided with range of services. It includes professional, managed, and consulting services along with application control solution to ensure customer satisfaction. Beginning from training courses to remarkable customer support, the application control providers help in maximizing the potential of user’s investment.
The Europe application control market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe application control market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe application Control market. A few of the players operating in the Europe application Control market are Broadcom, Inc, McAfee, LLC, DriveLock SE, VMware, Inc., Trend Micro Incorporated and Veracode, Inc., among others.