According to the new market research report "Runtime Application Self-Protection Market by Solution (Web Applications, Mobile Applications, Others (Packaged Software, Embedded Software, Hosted Software)), Service, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2022", The RASP market size is expected 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%.
The growing adoption of technologically advanced solutions has introduced many security threats associated with enterprise applications. As there is a rise in sophisticated cyber threats for critical information theft, the RASP market is expected to gain traction over the next 5 years.
The services segment is expected to play a key role in changing the RASP market landscape and grow at the highest CAGR during the forecast period. RASP solutions and services provide robust security to organizations’ critical applications. Additionally, they help organizations to meet Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), Sarbanes–Oxley Act (SOX), North American Electric Reliability Corporation Critical Infrastructure Protection (NERC CIP), Federal Information Security Management Act (FISMA), and other regulatory compliances.
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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.
Drivers
• Growing Need to Protect Critical Applications and Data in Organizations
• Non-Involvement of Security Professionals During Sdlc
• Strict Regulatory Compliances to Protect the Sensitive Information
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Key players in the global RASP market include 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). These players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product launches, to achieve growth in the global RASP market.

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