The US, Germany, the UK, and Singapore 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, and among other financial services companies are the primary users of application control as they have tohandle large volumes of personally identifiable information. Therefore, the use of application control is becoming important for both large and small companies as they are highly vulnerable to hackers.
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The COVID-19 outbreak, which began in Wuhan (China) in December 2019, has spread at a fast pace worldwide. The global factory shutdowns, travel bans, and border lockdowns, to combat and contain the outbreak, have impacted every industry and economy worldwide. To control the spread of virus globally, measures have been taken by the respective government bodies of countries to avoid social distancing. Therefore, lockdown have been imposed quickly covering enterprises and manufacturing units. Due to this pandemic situation, the use of application control has been positively impacted across the world owing to rule out of work from home policy. This has made the enterprises especially IT companies to use advanced security solutions to prevent incidents of cyber-attacks and malware.
Top Listed Companies in the Application Control Market are-
- Broadcom Corporation
- Cambium Networks
- Carbon Black, Inc.
- Check Point Software Technologies Ltd
- Cyberark Software Ltd
- Mcafee, LLC
- Trend Micro Incorporated
- Watchguard Technologies, Inc.
Europe dominated the application control market in 2019, followed by APAC. Europeregion is flourished with a large IT enabled infrastructure available in the industrial verticals. The presence of several developed economies across Western European regions such as Germany, France, the UK, Spain, Netherlands, and Italy along with a few other countries are significantly contributing in the region’s leading market share in 2019.Additionally, the existence of European Union also has resulted in stringed compliance and regulatory guidelines to prevent cyber-attacks, which in turn is favoring the growth of application control-based solutions in the market. Moreover, in Asian region, the banking sector has been the world’s largest market for decades. Thus, with the help of IoT software, the business can protect their assets by blocking virus and restricting access to unnecessary applications in industries, especially in banking.
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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