Parental Control Software Market Insight
Market Research Future, in its latest study, reveals that the global Parental Control Software Market 2020 is showing an optimistic sign to take a considerable jump relatively at 9.54% CAGR to hit their net worth amid COVID 19 pandemic. The growth of the market would expect to continue in the years (2018-2023), which is stated to be the forecast period. The report study provides in-depth review of the Expansion Drivers, Potential Challenges, Distinctive Trends and Parental Control Software Market Opportunities.
The top companies investing in the global parental control software market are Avanquest (France), McAfee LLC (US), SaferKid (US), Bitdefender (Romania), Webroot Inc. (US), Symantec Corporation (US), Verizon Communications Inc. (US), Content Watch Holdings, Inc. (US), and Trend Micro Inc. (Japan) and Mobicip LLC (US).
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Top Impacting Factors
Parental control software is known for consisting of features that help parents and guardians monitor their children's activities such as usage of mobile phones and other smart devices. Parental control software is mainly designed to protect and secure children from online threats counted as explicit content, cyberbullying, overuse of Internet-connected devices, and violence. The software is also helpful in blocking websites, monitor calls & SMS along with setting screen time. The innovative technology in the software also made it popular as parents can track their children's live location and track them whenever required. These features have increased the popularity of parental control software that affected the market to a large extent, globally.
The most crucial factor which is driving the parental control market is a considerable surge in the practice of social media platforms by children. Social media platforms such as Facebook, Instagram, Whatsapp, Snapchat, Twitter, and many similar to these can be linked together for users to cross-post. On the other side, social media channels also have numerous disadvantages, such as sexting, anti-social behavior, and more. As a result of these, social media platforms are concurrently escalating the use of parental control software for parents to observe and mentor their children's online activities and social media mistreat.
MRFR also reveals that rising cyberbullying cases across the globe is driving the growth of the market. In the case of point, in 2017, centers for Disease Control and Prevention (CDC) in the US recorded that 14.9% of high school students were cyberbullied through Facebook, texting, Instagram, and other social media connections. The percentage of students who were bullied has not seen a significant change from the year 2011 to 2017.
On the contrary, the factor of lack of awareness among the users concerning parental control software hampers the growth of the global parental control software market globally.
Segmentation of Market: Parental Control Software
For further analysis of the global Parental Control Software market, segmentation is conducted over device type, platform, deployment, ad application type.
By device type segment, the market has included computer & video games, mobiles, and digital television. Among these, the computer & video games segment might hold the largest market share of 53.3%, growing with a CAGR of 7.82%. Parental controls are being provided for computers and video games to limit the children's activities. Parents usually deploy such software when the child has complexity limiting the time being spent in playing games.
By platform type segment, the market has included Android, iOS, and Windows.
By deployment type segment, the market has included on-cloud and on-premise.
By application type segment, the market has included residential and education institutes.
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The global parental control software market, regionally, has been studied among Europe, North America, Asia-Pacific, and the rest of the world.
The region of North America earned the largest market share of 46.370.5% back in the year 2017, with a market value of USD 705.81 million. In the current study, the market is expected to register 8.63% CAGR, thus leads the market. The growth in the market in North America is focused on the boost in internet usage among children, the high rate of adoption of smartphones and tablets among children, growing cases of cyberbullying activities in the country, and the appearance of harmful games such as Blue Whale Challenge. These have eventually asked the recruited kids to commit suicide in their final tasks. In fact, the increasing use of social media platforms in the country and proficient funds from top players of the market in research and development of parental control software solutions are also contributing to boosting the market in North America.
The market in Europe was at the second-largest position in 2017 and was valued at USD 436.15 million. Now, it is projected to expand at the highest CAGR of 10.23%.
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