Container security market size expected to grow from $568 million in 2019 to $2,178 million by 2024, at a Compound Annual Growth Rate (CAGR) of 30.9%.
Northbrook, IL -- (SBWIRE) -- 05/03/2021 -- According to a new market research report "Container Security Market by Component (Container Security Platform and Services (Deployment & Integration, Training & Consulting, and Support & Maintenance)), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2024" published by MarketsandMarkets™, the container security market size expected to grow from USD 568 million in 2019 to USD 2,178 million by 2024, at a Compound Annual Growth Rate (CAGR) of 30.9% during the forecast period.
The global container security market is expected to have significant growth potential, due to the increasing vulnerabilities and cyberattacks, a large number of open-source vendors offering container platforms, increasing popularity of microservices, growing digital transformation across enterprises, and need to adhere to regulatory policies.
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Large enterprises to account for a larger market size during the forecast period
Large enterprises are the early adopters of the container security technology, as they have a large number of vendors and service providers in the market and possess strong budget capabilities. In addition to this, large enterprises are investing in container security and associated services to cater to the dynamic customer needs, streamline business operations, and enhance the experience of the stakeholders. Moreover, affordability of resources and huge investment enable these organizations to leverage the benefits of container security.
The BFSI vertical is projected to account for the largest market size during the forecast period
The Banking, Financial Services and Insurance (BFSI) vertical handles the crucial data of customers, including transaction passwords, account numbers, and card details, which need to be protected with the utmost importance. With the increasing financial industry regulations, traditional enterprises in the BFSI vertical need to evolve with advanced technologies to meet these regulatory needs. Hence, the BFSI vertical is expected to follow high-security standards to maintain critical information and is moving toward the adoption of cloud-based container services at a rapid pace. Container security offers various benefits, such as agile application delivery, operational scalability, and reduced complexities, thereby enabling the BFSI vertical to invest heavily in the market.
North America to account for the highest market share during the forecast period
North America accounts for the highest market share in the container security market. Various factors are driving the adoption of container security in this region, such as R&D investments on the cloud native architecture have standardized the application development approach for security assessment and authorization. The market has been steadily showing positive trends in the region, as several companies and industries are adopting the container security to sustain in the market and increase their productivity.
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Major vendors in the global container security market include Aqua Security (Israel), Alert Logic (US), Anchore (US), Qualys (US), Docker (US), NeuVector (US), Aporeto, (US), Trend Micro (Japan), Red Hat (US), CloudPassage (US), Black Duck (US), Twistlock (US), Thales Group (France), Google (US), and Guardicore (Israel).
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