Parental Control Software Market – Overview
A spike in demand for parental control software has been witnessed due to increased access to content online which may not be age appropriate. Market focused reports connected to the information and communication technology industry among others of late have been made accessible by Market Research Future which issues reports on this industry. The market is estimated to achieve USD 9.50 billion approximately with a 9.50 per cent CAGR expected during forecast period till 2023.
Rising concerns about the ease of availability of explicit content online to children has led to the emergence of the market in a major way. Due to the endangerment of children in terms of inappropriate content has increased the deployment of this software in education establishments as well as in homes. Enhancement in the efficacy level of the software in filtering out content and displaying appropriate results has raised the growth pace of the market. Growing cases of cyber bullying and targeted incidences of harassment are also strong motivators for the boost in demand for the parental control software market.
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April 2018 YouTube Kids recently launched new features that will give parents more control over what their children watch, after an outcry last year over disturbing videos that had appeared on the app. Google owned YouTube will roll out features such as it will have channels that are curated by YouTube and it’s trusted partners like PBS. The capacity also has for parents to handpick every video and channel a child can access. The parental control feature will also have a mechanism which when turned off by the parents in the app’s search function limits clips to those verified by the YouTube Kids team.
The key players in the global Parental Control Software Market include- McAfee (U.S.), Avanquest (France), Bitdefender (Balkans), Verizon (U.S.), CyberPatrol (England), IwantSoft (UK), SaferKid (California), Net Nanny (U.S.), Norton (U.S.), Webroot (U.S.) and Mobicip (U.S.) among others.
The parental control software market can be segmented into platform, device type, application, and region. The market by device type can be segmented into computer and video games, digital television services, and mobile. The segmentation of the market by platform comprises of IOS, android, windows, and others. Educational institutes, residential and others are the applications for the parental control software market.
Detailed Regional Analysis
The parental control market globally features regions such as America, Asia Pacific, Europe and Middle East & Africa. Regionally, the North American region accounts for the main market share from nations such as Canada, U.S, and Mexico among others. The reason that is attributed to the expansion is the growing demand for high-end technology solutions and use of smart gadgets. Though, the Asia Pacific region is also anticipated to develop extraordinarily well over the forecast period.
Global Competitive Analysis
The objective of the firms in the market to grow their shareholder’s value, while enhancing the capability to power their competitive edge has enabled the company’s growth to a great extent. Companies are also continually attempting to create financial leverage, to be better positioned to capitalize on market gains. Competitors are also spending a certain amount in innovation to provide a certain degree of innovation in the market and expand the avenues for growth especially in the duration of the forecast period. The intensifying interest in diversification within the business has indirectly allowed the businesses to utilize several situations obtainable in the market. The market trends have also created the need to ensure financial sustainability to invest in growth prospects as and when they arise. The chances for increasing revenue inflow in the business are expected to multiply through the forecast period.
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