Market Highlights
As per a recent analysis report published by the Market Research Future, the global market of runtime application self-protection is propelling and is estimated to fetch importance during the review period. The global runtime application self-protection market 2020 is expanding at a robust pace primarily because of rising security threats and rising number of DDOS attacks. The market is estimated to expand at a CAGR of 29% by 2022, dominating its previous growth records with respect to value with a notable CAGR during the review period from 2016 to 2022.
RASP technology offer enhances activities, such as application configuration, event flows, logic, and data. This aids in achieving improved security accuracy by detection and prevention of malware attacks. Besides, the feature of self-protecting data that is allowed by runtime application self-protecting aids organizations meets some cyber regulatory requirements. Moreover, even if self-protected data is hacked, it cannot be read. The growing cases of a security breach are promoting the adoption of technology. These
On the downside, deployment of self-protecting technology can curb down the speed of the application. This is likely to hinder the expansion of the global RASP market. However, the elimination of this issue looks feasible with technological advancements. This, in turn, is expected to counter the slowdown of the growth of the runtime application self-protection market.
Segmentation:
The worldwide runtime application self-protection market growth is assessed by deployment, component, vertical, and organization size. By component, the market is sectioned into services and solutions. The solution segment comprises mobile applications, web applications, and others. The services segment comprises managed services and professional services. By deployment, the market is sectioned into on-demand and on-premise. By organization size, the market is segmented large enterprises and small and medium enterprises. By vertical, the market is sectioned into IT and telecommunications, BFSI, healthcare, government, manufacturing, retail, and others.
Regional Analysis
The Asia Pacific is a potential market and offers to expand opportunities for the runtime application self-protection market to expand, as nations in this region are spending large amounts in deploying runtime application self-protection and compliance management solutions. The rising dependence on the internet has added to the vulnerabilities, making it a potent region for hackers and attackers. Several SMEs and large enterprises within the APAC region have been spending in the cybersecurity, due to the rising several issues of security breaches. The rising number of cyber threats and attacks at the application layer, expanding web and mobile applications, and strict government by-laws are estimated to further expand the market expansion in the APAC region.
North America dominates the global runtime application self-protection market. The cybersecurity concerns to the countries of North American and large investment in making the application safe is bringing impact on the market of Runtime Application Self-Protection. Additionally, robust economic expansion in the emerging economies, coupled with better administrative reforms and economic cohesion is affecting the runtime application self-protection market expansion in the APAC region. In Latin America, Small-medium enterprises as well as large enterprises, associated to a broad range of verticals, such as IT and telecommunications, government and defense, Banking, Financial Services, and Insurance (BFSI), and are estimated to bring a rise in their investments in runtime application self-protection solutions and services.
Key Players
MRFR listed major players of the runtime application self-protection market. They are; Waratek (Ireland), Veracode (U.S.), Wipro (India), Cigital, Inc. (U.S.), Hewlett-Packard (U.S.), Optiv Inc (U.S), VASCO Data Security International, Inc. (U.S.), WhiteHat Security (U.S.), Prevoty (U.S.), IMMUNIO (Canada), Promon AS (Norway), and others. Key players are coming up with innovations that can offer better protection solutions and empower applications against attacks. They are developing self-protection solutions that can encounter typical security weakness issues, such as code vulnerabilities, poor authentication and session management, drive-by attacks, and XXS attacks. As most companies make deliberate efforts in designing effective solutions, the competition among them is intensifying. It is likely to work in favor of the global worldwide runtime application self-protection market. As per MRFR analysis, the global runtime application self-protection market is observed to great potential to expand. The competitive landscape is changing because of the expansion of the product portfolio by renowned runtime application self-protection developers. This is accelerating the growth of the global market. New entrants are adding momentum to the market growth. MRFR also states that the market appears highly competitive owing to the change in the market scenario.
