The Increasing Adoption of Cloud Computing is Driving the Runtime Application Self-Protection (RASP) Market
Globally, the runtime application self-protection (RASP) market is expected to grow with a CAGR of 30.5% during the forecast period from 2022 to 2030, starting from US$ 562.1 Mn in 2021. The market is propelled by the increasing adoption of cloud computing solution across the enterprises. Over the past decade, cloud computing has emerged as the most disruptive technology for the organization that enables the companies to digitalize their business operations and processes. It eliminates the need for capital expenditure on the IT infrastructure and help organizations reduces the maintenance cost of the IT infrastructure. Furthermore, cloud computing allows the enterprises more flexibility, business agility and scalability. This is driving the adoption of the cloud computing solutions among the enterprises, which in turn is augmenting the demand for runtime application self-protection solutions.
Increasing adoption of the web and mobile based application solution is also serving as a major driver for the runtime application self-protection (RASP) market. Besides, the integration of the RASP solutions into other security programs is also accelerating the market growth. However, the limited security budget among the organizations is the acting as a major inhibitor in the growth of the market. Moreover, lack of technical expertise and lack of awareness pertaining to the advance cyber-attacks are some of the major challenges in the market growth.
Solution is Leading the Runtime Self-Protection (RASP) Market
The runtime application self-protection (RASP) market is segmented based on the component into solution and services. Solutions market accounted for more than 70% share in the RASP market in 2021. Solutions market is further bifurcated into the web based solutions, mobile based solutions and others. The wide scale adoption of the web based solutions among the enterprises is acting as a major driver for the growth of the market. Whereas, the mobile based solutions are estimated to gain traction during the forecast period due to the rising trend of enterprise mobility solutions among the organizations.
North America is Dominating the Runtime Application Self-Protection (RASP) Market
North America led the global runtime application self-protection (RASP) market in 2021 with the market share of more than 37%. The market growth is credited to the wide scale adoption of the cloud computing services across the region. The early adoption of the technology in the region is also supporting the market growth. Besides, the stringent government policies in the region for the safety and protection of the data are also fostering the market growth in the region.
The major vendors in the runtime application self-protection (RASP) market are Contrast Security Inc, Prevoty Inc, Arxan Technologies Inc, Micro Focus International PLC, VASCO Data Security International Inc, Signal Sciences Corporation, Veracode Inc, Pradeo Security Systems, IMMUN.IO Inc, and Waratek Ltd.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Runtime Application Self-Protection (RASP) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Region Segment (2020–2030; US$ Million)
Global Impact of Covid-19 Segment (2020-2021; US$ Million )
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