March 31, 2020
Runtime Application Self-Protection

Runtime Application Self-Protection (RASP) Market Is Expand with a 34.5% CAGR From 2019 to 2027

During the forecast period, the market for runtime application self-protection (RASP) is set to grow with a CAGR of 34.5 per cent, starting from US$ 430.8 million in 2018.

The Runtime Self-Protection Application (RASP) market is driven by an increasing threat of cyber-attacks specifically to vulnerabilities at the application level. As digitalization increases, the risk of cyberattacks on the vulnerabilities of the application level also increases. In order to address these challenges, organizations have begun to focus more on identifying and fixing vulnerabilities even before they occur in the life cycle of software development. This increases the demand for a self-protection solution for the runtime application among organizations.

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The services segment is anticipated to play a key role in changing the market landscape of the RASP and to grow at the highest CAGR level throughout the forecast period. RASP solutions and services provide robust security for critical applications of organizations. They also help organizations meet the Payment Card Industry Data Security Standard (PCI DSS), the Health Insurance Portability and Accountability Act (HIPAA), the Sarbanes–Oxley Act (SOX), the North American Electric Reliability Corporation Critical Infrastructure Protection Act (NERC CIP), the Federal Information Security Management Act (FISMA), and other regulatory compliance.

Cloud-based deployment is anticipated to be the fastest-growing deployment mode

The cloud is supposed to be the fastest-growing deployment mode on the RASP market, as it benefits organizations with increased scalability, speed, 24/7 services, and enhanced management capabilities. Depending on the customer’s demand, cloud-based RASP solutions are available where customers can start or stop any service at will.

Moreover, as the competition among market players is growing, the development and release cycle of software is also getting shorter. Organizations have begun to focus more on continuous delivery, as a result of which software is released more frequently. As a result, there remains a gap between the test coverage that resulted in the production cycle vulnerabilities. The organizations are looking for applications that can defend themselves against the vulnerabilities in order to address these challenges. This gives rise to the requirement of a self-protection solution for a runtime application between organizations.

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The market for runtime application self-protection (RASP) is segmented based on the on-premise and cloud deployment model being deployed. The on-premise deployment model held a majority share of revenue in 2018. Whereas throughout the forecast period, the cloud-based deployment model is estimated to gain traction. Demand is driven by the lots of advantages offered by the cloud model over the on-premise model, such as flexibility, agility, scalability and cost-effectiveness. In addition, the wide-scale adoption by SMEs of the cloud-based model is also driving the market growth.

The Runtime Application Self-Protection (RASP) market in the Asia Pacific is expected to grow significantly over the forecast period. The fast economic growth in emerging economies like India and China drives the market. Also acting as a major driver for market growth is the rapidly growing IT market in the region. Additionally, the increasing adoption of cloud services is also fostering market growth.

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