According to a 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.
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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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Micro Focus is among the leading players in the RASP market. The fundamental objective of the company is to meet every client’s requirements and also provide new advancements in RASP. The company serves clients across industries, such as government, Banking, Financial Services and Insurance (BFSI), retail, healthcare, automotive, manufacturing, IT and telecom, and aerospace and defense. The company has its major presence in North America, Europe, and Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. Micro Focus is considered to be one of the strongest providers of RASP solutions and services. The company follows both organic and inorganic growth strategies for business expansions.
For instance, in September 2017, the company launched an enhanced fortify application security portfolio with automation advancements, which enabled developers, testers, and operations teams to rapidly implement security testing and remediation. Similarly, in September 2017, the company completed its merger with HPE’s software business and became one of the largest pure-play enterprise software companies in the world. The merger helped the company to provide organizations with robust and innovative technology solutions.
Veracode is another leading provider of RASP solutions and services to various verticals across the globe. The company has a noteworthy presence in many countries in North America, Europe, and APAC, MEA, and Latin America. Veracode’s long-term strategy is to launch new RASP solutions and enhance its capabilities through new product launches and partnerships with strong companies. For instance, in June 2016, the company launched Veracode Runtime Protection to provide real-time protection for applications in production, which helps to prevent application abuse and data loss, providing alerts and other data to security operations teams.
Similarly, in May 2015, the company partnered with Contrast Security to deliver Interactive Application Security Testing (IAST) as an automated cloud-based service. This enables the security and development team to enhance risk reduction in DevOps and agile environments. The strategies have helped the company to integrate into the RASP market globally.
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