Runtime Application Self-Protection Market Analysis by Shares, Key Company, Trends, Size, Technology Growth and Regional Forecast to 2022 | COVID-19 Impact
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.
RASP technology offer enhances activities, such as application configuration, event flows, logic, and data. This aids in achieving improved security accuracy by detection and prevention of malware attacks. Besides, the feature of self-protecting data that is allowed by runtime application self-protecting aids organizations meets some cyber regulatory requirements. Moreover, even if self-protected data is hacked, it cannot be read. The growing cases of a security breach are promoting the adoption of technology. These
On the downside, deployment of self-protecting technology can curb down the speed of the application. This is likely to hinder the expansion of the global RASP market. However, the elimination of this issue looks feasible with technological advancements. This, in turn, is expected to counter the slowdown of the growth of the runtime application self-protection market.
The worldwide runtime application self-protection market share 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.
As per MRFR, the market in North America is likely to dominate in the assessment period. However, the Asia Pacific region holds great potential for the market to expand rapidly. The presence of both diversified international and domestic organizations that develop runtime application self-protection solutions in Asia Pacific is expected to back to the growth of the regional market. In addition, the stringency of government bylaws regarding cybersecurity is bolstering the growth of the APAC market.
MRFR listed major players of the runtime application self-protection market. They are; Waratek (Ireland), Veracode (U.S.), Wipro (India), Cigital, Inc. (U.S.), Hewlett-Packard (U.S.), Optiv Inc (U.S), VASCO Data Security International, Inc. (U.S.), WhiteHat Security (U.S.), Prevoty (U.S.), IMMUNIO (Canada), Promon AS (Norway), and others. Key players are coming up with innovations that can offer better protection solutions and empower applications against attacks. They are developing self-protection solutions that can encounter typical security weakness issues, such as code vulnerabilities, poor authentication and session management, drive-by attacks, and XXS attacks. As most companies make deliberate efforts in designing effective solutions, the competition among them is intensifying. It is likely to work in favor of the global worldwide runtime application self-protection market. As per MRFR analysis, the global runtime application self-protection market is observed to great potential to expand. The competitive landscape is changing because of the expansion of the product portfolio by renowned runtime application self-protection developers. This is accelerating the growth of the global market. New entrants are adding momentum to the market growth. MRFR also states that the market appears highly competitive owing to the change in the market scenario.
Also Read: http://www.marketwatch.com/story/operational-technology-security-market-size-share-covid-19-impact-growth-forecast-current-trends-business-revenue-opportunities-and-forecast-2026-2021-02-11