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Runtime Application Self-Protection Security Market Challenges, Growth Opportunities, and Research Report
29 May 2019, Global runtime application self-protection (RASP) security market is anticipated to witness an exponential growth in the forecast period. Runtime application self-protection (RASP) allows real-time application protection by identifying and blocking any malicious attacks. The factors that propel the growth of the market include implementation of the BYOD policy, growing acceptance of technologically progressive solutions has introduced many security threats related with enterprise applications and increase in sophisticated cyber threats for serious information theft.
On the other hand, there are factors that may hamper the growth of the market including emerging threats from open-source RASP security solutions. The market is anticipated to expand at a significant CAGR of 49.68% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Runtime application self-protection (RASP) security market could be explored by solution, component, service, deployment mode, organization size, vertical and geography. Market could be explored by solution as Web Applications, Mobile Applications, others (Embedded Software, Packaged Software and Hosted Software). Based on the component, the market could span as Services and Solutions. The “Services” segment led the market in 2017 and will continue to lead in the forecast period. The market could be explored based on service as Managed services and Professional services.
Based on the deployment mode, the market could span Cloud and On-premises. The “Cloud-based” segment led the market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of the market includes improved management capabilities and fastest-growing deployment mode. The market could be explored by organization size as Large enterprises and Small and Medium-sized Enterprises (SMEs).
The market could be explored by vertical as Financial Services, and Insurance (BFSI), Banking, Government and defense, IT and telecommunications, Manufacturing, Energy and utilities, Retail, Healthcare and Others (transport and logistics, media and entertainment, and education).
North America accounted for the major share of the runtime application self-protection (RASP) security market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing difficulties in mobile and web applications, along with meeting severe compliance rules, advancement in the technologies such as the Internet of things (IoT) and cloud solutions. Furthermore, North America is followed by Asia-Pacific region in the forecast period owing to the rising need for data in the organization and protect critical applications, stringent regulatory compliances, and non-involvement of security professional during SDLC.
Some of the key players that fuel the growth of the runtime application self-protection (RASP) security market comprise HP, Digital, WhiteHat Security, Veracode, Waratek, Contrast Security, Arxan Technology, IMMUNO, CyberGRC, Vasco, and Prevoty. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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