Runtime application self-protection (RASP) Market is a technology that runs in real-time to protect the application in real-time from malicious attacks. It resides on a server and protects organizations from compromising their data and applications. Huge need for security measures in enterprises can drive its requirement in corporations. The global runtime application self-protection market is expected to exhibit 34.53% CAGR over the forecast period (2017-2022), according to Market Research Future (MRFR). It can reach a value of $13.72 Billion by 2022. MRFR’s reports on various industry verticals covers dynamic variables such as drivers, trends, opportunities, and challenges as well as estimations on its rise and fall for investors and companies.
Market Scope
The global runtime application self-protection market is bound to balloon over the forecast period owing to security measures taken by organizations for predicting online attacks. RASP can distinguish between actual attacks and requests for information with high accuracy. Rising cases of data theft and malicious attacks are likely to drive the market demand significantly. The need for inspecting network traffic and content processing can favor the market. Implementation of BYOD policy is likely to spur the demand in RASP market. It can limit challenges posed by employees’ personal devices and provides ample protection.
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The COVID-19 pandemic is expected to be lucrative for the industry as employees work from home and use private networks for exchanging information. Rise of data breaches as well as protection for enterprise applications can drive the need for runtime application self-protection (RASP). Small and medium enterprises are likely to unroll policies for recognizing and mitigating possible attacks.
But the dip in application performance during the running of RASP can hamper market growth.
Segmentation
By component, it is bifurcated into solutions and services. By solutions, it is further divided into mobile applications, web applications, and others. The services segment is similarly divided into managed services and professional services.
By deployment, it is divided into on-premises and on-cloud. The on-cloud segment is likely to gain traction over the global runtime application self-protection market. This is attributed to rising use of cloud computing and focus of organizations on lowering operational expenses. Cloud-based RASP can be accessible to customers and assist in protecting organizations in adhering to strict regulations for protecting sensitive applications.
By organization size, it is segmented into small & medium enterprises and large enterprises.
By vertical, it is segmented into government, healthcare, manufacturing, retail, BFSI, IT & telecommunications, and others.
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Regional Analysis
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are major regions covered for outlining the prospects of the global runtime application self-protection market.
North America is anticipated to dominate the market owing to flexible policies for employees to improve productivity and presence of prominent security providers. Acquisitions are likely to be witnessed in the region as exemplified by the acquisition of Immunio, Inc., by Trend Micro Inc. The platform offers protection services against online attacks and covers weaknesses such as code vulnerabilities and poor authentication.
APAC, on the other hand, is deemed to display a robust growth rate over the forecast period. This is attributed to employers investing in RASP policies. Increasing dependence on the internet and investments in cybersecurity due to large number of attacks can drive the market demand. Policies supporting data privacy in Japan and Australia can also influence the market’s expansion ambitions.
Competitive Scope
Hewlett-Packard, IMMUNIO, VASCO Data Security International, Inc., Veracode, WhiteHat Security, Waratek, Promon AS, Optiv Inc, Wipro, Prevoty, and Cigital, Inc. are notable names of the global runtime application self-protection market. Companies are launching new releases of security software focusing on covering latest programming languages and cloud applications.
Industry News
Imperva Inc., has launched its latest version of the RASP software for protecting cloud-native applications and secures their deployment.
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