The application Control market in North America was valued US$ 329.5 million in 2019 and is projected to reach US$ 447.3 million by 2027; it is expected to grow at a CAGR of 4.0% from 2020 to 2027.
The rising number of cyberattacks, coupled with a significant increase in the number of connected devices and access points, has notably increased the demand for superior monitoring and controlling of enterprise applications. As a result, the demand for extensive protection and coverage of end-point access has risen significantly and subsequently gained traction among numerous industry verticals. Thus, several market players operating in the application control market currently provide extensive business offerings that facilitate the advanced protection of enterprise applications through enabling varying degree of control such as execution, monitoring and authentication among other controls. The application control-based solutions have 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. In addition, the advancement in application control tools have facilitated the integration of forensic control that automate the validation process, enabling checks for inputs and data correctness among other niche advantages to the end users. Thus, the application control market is poised to provide numerous profitable business opportunities for the market players during the forecast period.
The US, Canada and Mexico are among the countries whose governments have regulated IT companies with data encryption and protection laws; technology firms are leveraging these regulatory environments to accelerate the penetration of application control. Insurance companies, banks, IT companies, among other financial services companies, are the primary users of application control as they have to handle large volumes of personally identifiable information (PII) and government data protection regulations. The US has several key cybersecurity regulations, which includes the Health Insurance Portability and Accountability Act (HIPAA). The mandate to comply with these regulations helps boost the implementation of security solutions worldwide.
In terms of component type, the solution segment led the North America 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 North America 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 North America 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 North America application Control market. A few of the players operating in the North America application Control market are Broadcom, Inc, McAfee, LLC, CyberArk Software Ltd, VMware, Inc., Trend Micro Incorporated and WatchGuard Technologies, Inc, among others.