Runtime Application Self-Protection Market Forecast by Regions, Types, Applications, Dynamics, Development Status and Outlook 2027

 

Market Highlights

The industry is driven by growing enterprise- of cloud infrastructure technologies. Cloud computing has emerged as the organization's most transformative technology in the last decade, allowing organizations to digitize their business operations and processes. It reduces the need for capital investment on the IT infrastructure and helps companies reduce the IT infrastructure maintenance costs. In addition, cloud computing provides more versatility, business agility, and scalability for enterprises. This fuels the corporations 'adoption of cloud computing technologies, which in turn is increasing the demand for runtime application self-protection solutions over the review period.  

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.

Also acting as a significant catalyst for the Runtime Application Self-Protection (RASP) market is the organic growth of the cloud and mobile device-based solution. In addition, the introduction of the RASP systems with other defense initiatives further speeds up business growth. Nevertheless, the organizations 'small protection budget is serving as a significant obstacle in business development. In fact, the lack of technological skills and lack of knowledge about advance cyber-attacks are two of the key industry growth obstacles.

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Competitive Landscape

The major market players operating in the global market as identified by MRFR are Veracode (U.S.), Wipro (India), Waratek (Ireland), Cigital, Inc. (U.S.), OptivInc (U.S), WhiteHat Security (U.S.), Hewlett-Packard (U.S.), VASCO Data Security International, Inc. (U.S Prevoty (U.S.), .), IMMUNIO (Canada), Promon AS (Norway) among others.

Regional Analysis

The geographical overview of the global market has been analyzed in four major regions, including the Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa. North America dominates the worldwide market for self-protection runtime applications. The information security risks to the countries of North America and substantial investment in keeping the secure network push the Runtime Technology Self-Protection market. In addition, strong economic growth in developed countries, along with strengthened regulatory changes and financial stability, is driving development in the Asia Pacific region through the runtime implementation of self-protection markets. Asia Pacific provides growth opportunities for the RASP industry to expand, as countries in this area invest heavily in the delivery of RASP solutions and compliance management. Increasing internet dependency has raised vulnerabilities and has created targets for hackers and attackers. Many small and medium-sized companies in the Asia Pacific region have invested in cybersecurity because of growing major security vulnerability concerns. It is anticipated that the rising number of cyberattacks on the network layer, that cloud, and smartphone device, and strict policy bylaws would further fuel business growth in the Asia-Pacific region. In Latin America, SMEs and large enterprises, fitting in a range of verticals, such as government and defense, BFSI, and IT and telecommunications, are estimated to augment their investments in runtime application self-protection solutions and services.

Segmentation:

The market for global runtime application self-protection is segregated on the grounds of deployment, component, vertical organization size, and region.

On the basis of the deployment, the segment is further classified into on-demand and on-premise.

 On the basis of the component, the segment is further divided into services and solutions. The services segment comprises of managed services and professional services. The solution segment comprises of mobile applications, web applications, and others.

On the basis of the organization size, the vertical is further divided into large enterprises and small and medium enterprises. Runtime application self-protection market covers a broad area of applications like IT and telecommunications, BFSI, healthcare, government, manufacturing, retail, and many more.

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Global Runtime Application Self-Protection Market Research Report: By Component (Solution, Service), Deployment (On-Premise, On-Demand), Organization Size (SME, Large Enterprise), Application (Government, Banking, Healthcare) – Forecast till 2022

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