Container Security Scanning Market Surging at 8% CAGR Driven by Increasing Number of Cyber-Attacks: Fact MR Study

NEW YORK, June 23, 2021 /PRNewswire/ --The global container security scanning market is anticipated to exceed a valuation of US$ 3.5 Bn in 2021. Fact.MR estimates that container security scanning market revenues will grow positively at compound annual growth rate (CAGR) of 8% over forecast period 2021-2031.

According to Cybersecurity Ventures, cybercrimes cost around US$ 6 trillion globally, which equates to a loss of US$ 190,000 per second.  Container security scanning was introduced in order to prevent and reduce security issues as number of cyber-attacks and hacking of confidential information has increased across the world. Hence, increasing applications will drive market growth.

According to the United Nations Conference on Trade and Development, goods traded in 2019 recorded more than US$ 19.5 trillion. Nearly 60% of the trade was seaborne. With seaborne trade forecast to increase in tandem with expanding international trade, businesses are acknowledging the importance of secure supply chain.

Companies are spending a lot of money on security systems to protect their data. According to study by Fact.MR, the global security market is expected to reach $170 billion by 2022. Furthermore, the exponential growth due to internet connections has fueled risk of cyber-attacks in a various industries. Thus, rising investments on security systems driving market growth.

"Numerous cloud service providers are collaborating with container security scanning companies to improve protection and alleviate customer concerns about security issues. This will result in greater adoption of container security across a variety of industries," says a Fact.MR analyst.

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Key takeaways:

• The U. S. has emerged as most lucrative growth market and it has recorded 7% CAGR in 2020. The market will grow at 9% CAGR in forecast period.
• Increasing investment in security systems has escalated container security scanning market growth in Europe.
• East Asia is expected to surge at 11% CAGR due to growing demand for container security in countries such as China, Japan, and South Korea.
• In 2020, single node container security clusters accounted for around 64% share of the global market driving market growth.
• Artificial intelligence (AI) and machine learning offer lucrative opportunity to the container security market, as they give more control to developers over resources and allow them managing apps on the cloud.

Growth Drivers:

• Technological advancements will give utmost protection will aid the expansion of container security scanning market.
• Increasing awareness about importance of secure applications and data will drive market across countries.

Key restraints:

• Increasing complexity in terms of security, orchestration, data storage, and monitoring Impeding market growth.
• Containers require multi-level security due to their multiple layers. This increases complications in container security implementation restraining market growth.

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Competitive Landscape

Key players are focusing on product developments, patent acquisitions, partnerships, and mergers, and acquisitions to increase market revenues. For instance,

• In May 2021, Anchore announced about its new secured containers for artificial intelligence, machine learning, and high-performance computing (HPC) on NVIDIA NGC. It will ensure the software's security hosted on NVIDIA's NGC. NVIDIA has been using Anchore's container scanning technology since 2019.
• In May 2021, Wiz, a container security startup, announced that it had increased US$ 120 Mn in a salesforce-led funding round. It will bring total funding raised by Wiz to US$ 350 Mn.

More Valuable Insights on Container Security Scanning Market

Fact.MR, in its new offering, presents an unbiased analysis of the global container security scanning market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031. The study reveals essential insights on the basis of cluster (single node and multiple node), deployment (on-premise and cloud), organization size (large enterprises and small & medium enterprises), and vertical (healthcare, BFSI, government, retail, IT and telecom, manufacturing, and others), across seven regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

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SOURCE Fact.MR