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. Apart from this, the augmenting requirement to secure critical applications and data in enterprises is also supporting the growth of this market substantially.
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 the end of 2025. The rising implementation of stringent regulatory policies pertaining to the protection of sensitive information is likely to boost the market considerably in the years to come.
Broadly, the global runtime application self-protection market is evaluated on the basis of the component, deployment, industry vertical, and the geography. Based on the component, the market is classified into solutions and services.
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Among the two, the solutions segment is leading the global market and is expected to remain doing so over the next few years. In terms of solutions, web applications and mobile applications are the main components used in runtime application self-protections. Among services, professional services and managed services are the most prominent sub-segments.
By deployment, the market is categorized into cloud and on-premise. Although the on-premise deployment segment has taken the lead, currently, but the emergence of cloud technology is expected to support the demand for cloud deployment of these solutions in the coming years. On the basis of industry verticals, the market is bifurcated into the BFSI, government and defense, IT and telecommunications, energy and utilities, manufacturing, healthcare, and the retail sectors.
In terms of the Geography, the worldwide runtime application self-protection market is divided into North America, the Middle East and Africa, South America, Asia Pacific, and Europe. Among these, 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, owing to which, the demand for runtime application self-protection solutions has been significantly high here.
Over the coming years, the increasing involvement of technology companies with RASP vendors in order to generate new customers and technology advancements in this domain and further providing full scale security to them is projected to support the growth of the North America runtime application self-protection market. Among other regional markets, Asia Pacific is likely to witness a high-paced growth in the near future, thanks to a large pool of mobile device users, especially residing in China and India, who are the most attack prone users targeted by hackers.
The global market for runtime application self-protection displays a highly competitive business landscape. Some of the leading vendors of runtime application self-protection solutions are Arxan Technologies Inc., Contrast Security Inc., Veracode, Micro Focus International plc, VASCO Data Security International Inc., Signal Sciences, IMMUNIO, Pradeo, Waratek, and Prevoty Inc.