Rise in the number of web applications for entrepreneurial penetration in the consumer markets is boosting the need for better protection from computer attacks. Runtime application self-protection (RASP) help block attacks by using contextual information from software, hence improves security of the applications. Moreover, runtime application self protection comes with the provision to be used in two different ways - protection mode and monitor mode. It allows the user to choose between protection modes or address the attack.
The increase in number of attacks and the demand to protect the software from such attacks, altogether, are fuelling runtime application self-protection market. Considering the benefits offered by RASP, the market is projected to accelerate at lucrative CAGR of 32.40% during 2017 - 2025. As per the report published by Transparency Market Research, the market valuation in anticipated to reach US$3.13 bn by end of this forecast period.
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Virtualization and Cloud Computing Propelling Need for Adoption of Runtime Application Self-Protection
The runtime application self protection has wide range of applications in financial transactions. Banking, financial, services and insurance (BFSI) is one of the prominent end users of runtime application self protection, thereby, fuelling the growth of runtime application self-protection market.
Apart from BFSI, the runtime application self protection is also employed in healthcare, government and defense, manufacturing, retail sectors, and energy utilities.
As stated by market analysts of runtime application self-protection solutions, “rise of cloud computing and the current trend of virtualization are fuelling the demand for high level security, which, in turn, is pushing the runtime application self-protection solutions market substantially”. Besides, the need to secure data and critical applications in enterprises is supporting the growth of runtime application self-protection market globally. Moreover, non-involvement of ethical hackers during the course of development of systems is prominently contributing to the expansion of runtime application self-protection market.
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Initiatives and Policies by Government Bodies to Protect Sensitive Information Boosts Demand for Higher Cyber Security
The policies and initiatives undertaken by government bodies in order to protect sensitive information are assisting in the growth of the runtime application self-protection market. Also, rising number of mobile users is resulting in corresponding increase in number of web application users around the globe.
The latest trend of integrating runtime application self-protection along with various security technologies is adding significantly to the growth of runtime application self-protection in the coming years.
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Over the recent years, North America has witnessed several cyber-attacks including SQL injection and distributed denial-of-service (DDoS) attacks. As a result, demand for runtime application self-protection solutions has increased substantially. This region is likely to contribute significantly to the growth runtime application self-protection market, globally.
Some of the significant players of runtime application self-protection are Prevoty Inc., Contrast Security Inc., Pradeo, Micro Focus International plc., VASCO Data Security International Inc., Signal Sciences, Arxan Technologies Inc., Waratek, Veracode, and IMMUNIO.
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