The global market for runtime application self-protection is witnessing a tremendous surge in its size, thanks to the advent of cloud computing and the rising trend of virtualization.
The increasing need to secure critical applications and data in enterprises, has created wider demand for security application. Runtime Application Self-Protection (RASP) is such kind of a security technology that helps applications protect themselves by blocking attacks in real time.
Market Research Hub (MRH) has freshly publicized a study titled “Runtime Application Self-Protection Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” to its massive database which offers a comprehensive analysis of the current market trends and future estimations in the market. Moreover, the report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global runtime application self-protection market growth during the said period.
According to the findings of the latest study, the emergence of cloud computing and the increasing trend of virtualization is boosting the demand for runtime application self-protection solutions greatly. In 2016, the market presented an opportunity worth US$0.25 bn.
It is expected to rise exponentially at a CAGR of 32.40% over the period from 2017 to 2025 and reach US$3.13 bn by 2025.
Moving further for a better understanding of the market, the runtime application self-protection market has been segmented on the basis of component, deployment, geography and industry vertical. Geographically, the report is segmented the overall market into North America, Middle East & Africa (MEA), Europe, Asia Pacific, and South America; the regions are analyzed in terms of revenue and volume generation along with the CAGR for the period from 2017 to 2025.
Factors Encouraging Market Growth
Analyst finds that the market is likely to gain remarkably from the increasing implementation of stringent regulatory policies to protect the sensitive information and the escalating number of users of mobile and web applications across the world.
North America has occupied the leading position and is expected to remain on the top over the next few years. In the recent past, the region has faced several major attacks, including distributed denial-of-service (DDoS) attack and SQL injection, which is a major region for the adoption of RASP.
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With to the increased need for security of the financial transaction in a number of BFSI applications, the BFSI industry is anticipated to surface as the leading end-user of runtime application self-protection solutions in the years to come.
Looking to the growing demand, the manufacturers are keen towards the adoption of the latest technology and gain a competitive edge in this highly fragmented market. Key players outlined in the study include Arxan Technologies, Inc., Veracode, IMMUNIO, Contrast Security, Inc., Micro Focus International plc, Prevoty Inc., Signal Sciences, VASCO Data Security International, Inc., Pradeo, and Waratek.
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