According to a new market research report “Runtime Application Self-Protection Market by Solution (Web Applications, Mobile Applications, Others (Packaged Software, Embedded Software, Hosted Software)), Service, Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2022″, The RASP market size is expected to grow from USD 294.7 Million in 2017 to USD 1,240.1 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 33.3%. The growing adoption of technologically advanced solutions has introduced many security threats associated with enterprise applications. As there is a rise in sophisticated cyber threats for critical information theft, the RASP market is expected to gain traction over the next 5 years.
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Services segment is expected to play a key role in the RASP market
The services segment is expected to play a key role in changing the RASP market landscape and grow at the highest CAGR during the forecast period. RASP solutions and services provide robust security to organizations’ critical applications. Additionally, they help organizations to meet Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), Sarbanes–Oxley Act (SOX), North American Electric Reliability Corporation Critical Infrastructure Protection (NERC CIP), Federal Information Security Management Act (FISMA), and other regulatory compliances.
Cloud-based deployment is expected to be the fastest-growing deployment mode
In the RASP market, the cloud is expected to be the fastest-growing deployment mode, as it benefits organizations with increased scalability, speed, 24/7 services, and enhanced management capabilities. Cloud-based RASP solutions are available according to the customer’s demand, wherein customers can start or stop any service, at will.
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North America is expected to have the largest market size in the RASP market
Due to the presence of a large number of RASP vendors, North America is expected to have the largest market size in the RASP market; whereas, Asia Pacific (APAC) is expected to be the fastest-growing region during the forecast period. Factors, such as growing need to protect critical applications and data in organization, non-involvement of security professional during SDLC, and stringent regulatory compliances, are driving the adoption of RASP solutions. Furthermore, the market in developing regions, such as the Middle East and Africa (MEA) and Latin America is expected to grow due to the increasing usage of mobility, cloud computing, expanding retail and banking sectors, and regulatory compliances.
Major vendors in the RASP market include Arxan Technologies, Inc. (US), Contrast Security, Inc. (US), Micro Focus International plc (UK), Signal Sciences Corporation (US), VASCO Data Security International, Inc. (US), Veracode, Inc. (US), IMMUN.IO Inc. (Canada), Pradeo Security Systems (France), Prevoty, Inc. (US), and Waratek Ltd. (Ireland). The market also includes various key innovators such as Promon (Norway), RunSafe Security (US), and GuardSquare NV (Belgium).