Global Runtime Application Self-Protection Market Analysis and Forecast to 2022 | Growth Opportunity Assessment
Princeton, NJ -- (SBWIRE) -- 06/18/2018 -- Research Cosmos expects the global runtime application self protection market size 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% during the forecast period. The constant pressure of managing sensitive applications and data of consumers, along with the need to manage stringent compliances, has led enterprises of all sizes to adopt runtime application self protection solutions for protecting critical business applications. Moreover, cloud-based deployment is gaining high traction in the market, as it requires less capital investment, helps decrease the operational and maintenance costs, and reduces the management's efforts. Cloud runtime application self-protection solutions are available according to customer's demand, wherein a customer can start or stop any service, at will. Runtime application self protection solutions help organizations protect their sensitive applications and comply with stringent regulations.
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Runtime application self protection solutions are available for web applications, mobile applications, and others (packaged software, embedded software, and hosted software). The runtime application self protection for web applications is expected to dominate the runtime application self protection market and is estimated to hold the largest market share in 2017. The runtime application self protection for mobile applications is expected to play a key role in changing the market landscape and is projected to grow at the highest CAGR during the forecast period, as global organizations are highly proactive toward protecting their sensitive business applications.
The cloud deployment mode is expected to grow at a faster rate in the runtime application self protection market, as it benefits organizations with increased scalability, speed, 24/7 services, and enhanced management capabilities. Small and Medium-sized Enterprises (SMEs) continue to opt for the cloud deployment mode, as it helps them avoid costs pertaining to hardware, software, storage, and technical staff.
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North America is estimated to hold the largest market size in 2017. Increasing penetration of internet and growth in the incidents of attacks on enterprise applications are driving the need of runtime application self protection solutions. Furthermore, rapid economic growth in the developing countries, along with improved regulatory reforms and economic stability is driving the runtime application self protection market growth in APAC. In Latin America, SMEs as well as large enterprises, belonging to a range of verticals, such as Banking, Financial Services, and Insurance (BFSI); government and defense; and IT and telecommunications, are expected to increase their investments in runtime application self protection solutions and services.
Limited budget in organizations to deploy cutting-edge security solutions is becoming a major restraint for the growth of the market. The Research and Development (R&D) expenses to develop advanced runtime application self protection solutions are very high, which lead to high pricing of the security solutions. As the frequency of security breaches has increased over the past 5 years, organizations have increased their IT security investments to protect against advanced threats. However, for many enterprises, including SMEs, these investment costs are a matter of concern. Furthermore, for strong and advanced security, the cost of innovation is still high, and many organizations view budgetary constraints as a barrier to growth in the runtime application self protection market.
The emergence of cloud computing and virtualization is expected to provide significant growth opportunities to the runtime application self protection solution vendors. There are several established players in this market, such as 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).
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