Market Highlights

The rising need to prevent malicious malware attacks on a running application is surging the rate of adoption of runtime application self-protection (RASP) technology. This is expected to boost the growth of the global runtime application self-protection market. According to MRFR findings, the global runtime application market is expected to expand at a high CAGR during the forecast period. The technology analyses the behavior of applications and interprets the contexts. This aids in the identification of potential attacks and the technology offering effective resolutions for the same are attracting high prominence across different verticals. This is expected to support the growth of the runtime application self-protection market.

global Runtime Application Self-Protection Market Size achieved a growth of USD 294.7 Million. Further, the RASP market has aimed Compound Annual Growth Rate (CAGR) of 34.53% by 2030, and the growth of USD 13.72 Billion during the forecast period.

Drivers and Restraints

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.  

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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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 worldwide market of runtime application self-protection 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.

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.), Optiv Inc (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.

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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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