Leading runtime application self-protection (RASP) market players include Digital.ai Software Inc., Contrast Security, Guardsquare nv, Micro Focus, Pradeo, Signal Sciences, LLC, OpenSpan, Waratek, VERACODE, and Imperva,.
New York, Sept. 28, 2023 (GLOBE NEWSWIRE) — The global runtime application self-protection (RASP) market size is expected to expand at ~33% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 6 billion by the end of 2035, up from a revenue of ~USD 1 billion in the year 2022.Market growth is mainly backed by the increasing demand for integrated security suites, a key measure of increasing network infrastructure complexity. Additionally, enforcing BYOD (bring your own device) policies and allowing the use of personal devices such as laptops, smartphones, and tablets further increases the potential for cyberattacks.
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It is estimated that nearly 67% of the global workforce uses personal devices at work. This leads to fraudulent activities, including invasion of privacy and misuse of business data. RASP technology is a server-based technology that is integrated into applications to block attacks in real time and provide more insight into hidden vulnerabilities. These factors are estimated to continue to drive the growth of the global runtime application self-protection (RASP) market.
Spiking Digitalization Among Various Enterprises Across the Globe to Boost Market Growth
Applications have become easy targets for hackers to break into organizations and exploit application vulnerabilities. According to the Vulnerability Statistics report, about 50% of internal application vulnerabilities and 32% of web application vulnerabilities are considered high or critical risks. By the year 2022, nearly 65% of the world’s gross domestic product (GDP) is projected to be digitized, and digitized organizations will account for more than half of the world’s gross domestic product (GDP) by the year 2023, which is projected to account for nearly USD 54 trillion. The number of smartphone users worldwide in 2021 was estimated to be around 6 billion and is expected to grow to 7.5 billion by the end of 2027. Hence, all these factors driving the surge of digitalization across the globe are predicted to contribute notably to the growth of the market over the forecast period. However, limited budgets for companies to deploy cutting-edge security solutions may slow down the market growth. In addition, the large R&D costs to develop advanced RASP solutions lead to high security solution prices. This may further challenge market growth.
Runtime Application Self-Protection (RASP) Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
High Penetration of the Internet to Drive Market Growth in the North American Region
The runtime application self-protection (RASP) market in the North American region is estimated to garner the largest revenue by the end of 2035. The regional growth can majorly be attributed to the high penetration of the internet, which has led to an increase in cases of data breaches and malware attacks against businesses in the region. The US market is expected to continue to be the dominant market in the region. According to the US government’s National Vulnerability Database (NVD), in the year 2019 it had 17,382 vulnerabilities disclosed, and in the year 2020 it had 18,362 vulnerabilities disclosed. Runtime application self-protection is a security technology that uses runtime instrumentation to exploit information from running software to detect and block computer attacks. Runtime Application Self Protection (RASP) is a security solution designed to provide personalized protection for your applications. Gain visibility into application internal data and state to identify runtime threats that other security solutions miss. Both web and non-web apps can be protected with RASP. The RASP detection and protection functions run on the server running the app, so this technology doesn’t affect your app’s design.
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Rapid Economic Growth to Drive Growth in the Asia Pacific Region
The runtime application self-protection (RASP) market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. The growth of the market in this region can primarily be attributed to the rising internet penetration, rapid economic growth, better regulatory reforms, and economic stability in the region. According to World Bank data, 73% of regional people in East Asia and the Pacific had individually accessed the internet by 2021. In addition, the region has a large consumer base for electronic products, which is expected to provide significant business opportunities for market players. Runtime Application Self-Protection (RASP) is a security technology embedded in or associated with an application or application runtime environment that can control application execution and detect and prevent real-time attacks. Unlike traditional application security tools, RASP uses app data and logic to detect, block, and report attacks. Because RASP is built into the application, when the system detects anomalous application behavior, the problem is automatically isolated and identified. A run-time program is a specific version of an application distributed for a limited purpose. These types of software releases are sometimes called run-time programs. Securing web applications is a critical component of an organization’s cybersecurity strategy, and the two most commonly used solutions to protect these applications are web application firewalls (WAFs) and runtime application self-protection.
Runtime Application Self-Protection (RASP), Segmentation by Component
- Solutions (Web Applications, Mobile Applications, Others)
- Services (Professional Services, Managed Services)
Amongst these two segments, the solutions segment in runtime application self-protection (RASP) solutions market is anticipated to hold the largest share over the forecast period. The solutions segment is further segmented into web applications, mobile applications, and others. The web application segment is expected to witness high growth during the forecast period owing to increased adoption and increasing attacks on web applications. Attacks on web applications increased by nearly 800% in the first half of the year 2020, an eightfold increase over the same period in the year 2019. Web applications pose several security concerns that make them vulnerable to attack, allowing attackers direct access to public databases. Cross-site scripting is one of the most common web application attacks. In this attack, hackers upload malicious code to a vulnerable website, which is then unintentionally activated by users of that website.
Runtime Application Self-Protection (RASP), Segmentation by Deployment Mode
- On-premises
- Cloud
Amongst these two segments, the cloud segment is anticipated to hold a significant share over the forecast period. The growth of the segment can be accredited to the increasing use of cloud solutions to meet the growing demand for high-speed data networks. The segment is expected to grow the most during the forecast period as it plays a key role in delivering and integrating next-generation network solutions for business environments. Organizations’ rapid migration to the cloud and growing need to reduce overall equipment costs are also expected to contribute to segment growth. According to observations, cloud-based services are expected to grow by 30% in the year 2023 and are estimated to grow further during the forecast period.
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Few of the well-known industry leaders in the runtime application self-protection (RASP) market that are profiled by Research Nester are Digital.ai Software Inc., Contrast Security, Guardsquare nv, Micro Focus, Pradeo, Signal Sciences, LLC, OpenSpan, Waratek, VERACODE, Imperva, and other key market players.
Recent Development in the Runtime Application Self-Protection (RASP) Market
- Contrast Security, one of the leading software security companies, has announced a groundbreaking addition to its application security platform designed specifically for serverless application security. This allows developers to automatically identify security vulnerabilities within their serverless ecosystem.
- Microsec.ai introduced the industry’s first runtime application self-protection solution for cloud-native applications in multi-cloud infrastructure as a service. This provides customers with various security aspects such as network traffic control and data loss prevention.
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