Runtime Application Self-Protection Market Research Report- Forecast till 2022

Market Highlights

In its recently published research report, Market Research Future (MRFR) affirms that the global runtime application self-protection market 2020 is booming and projects to rise exponentially over the review period, recording a significant market valuation of 1.2 billion and a healthy 29% CAGR over 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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Segmentation:

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

Based on the component, the segment is bifurcated into solutions and services. The solution segment comprises of web applications, mobile applications, and others.

The services segment has been bifurcated into managed services and professional services.

On the basis of the deployment, the market is divided into on-premise and on-demand.

On the basis of the organization size, the segment is divided into small and medium enterprises and large enterprises.

Runtime application self-protection market comprises a wide area of application areas such as IT and telecommunications, government, BFSI, healthcare, retail, manufacturing, and many more.

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.

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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