(MENAFN- America News Hour) Research Nester published a report titled
“ Runtime Application Self-Protection (RASP) Market : Global Demand Analysis & Opportunity Outlook 2031 ”
which delivers detailed overview of runtime application self-protection (RASP) technology in terms of market segmentation by component, deployment mode, enterprise size, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The growing complexity of network infrastructure has made integration an important criterion, resulting in high adoption of integrated security suites. Application security system has come a long way with the innovation of
runtime application self-protection
(RASP) technology. The global runtime application self-protection (RASP) market is estimated to be garner approximately USD 23 Billion in revenue by 2031 by growing at a CAGR of ~33% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to increasing demand for integrated security suites. The market is segmented by deployment mode into on-premises and cloud, out of which, the cloud segment holds the largest market in the global runtime application self-protection (RASP) market over the forecast period.
Geographically, the global runtime application self-protection (RASP) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, North America region is anticipated to hold the largest market share over the forecast period owing to growing incidences of data breach and malware attacks on organizations. Additionally, Asia-Pacific region is estimated to witness fastest growth during the forecast period.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Incidences of Data Breach and Demand for Integrated Security Suites
to Boost Market Growth
As organizations embrace the shift of technology to internet applications, malicious practice methodologies are also being revised to address the shift. Web applications have become an opportune target for hackers to penetrate into an organization. According to a data breach report in 2020, nearly 43% of data breaches are tied to web application vulnerabilities, where it has been found over 80% of the vulnerabilities are associated with application code. This high demand for integrated suites increases the need for RASP security which enables real-time application protection by blocking malicious attacks. These factors are driving the growth of the global runtime application self-protection (RASP) market.
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However, limited budget in organizations to deploy cutting-edge security solutions and high R&D expenses to develop advanced RASP solutions leading to high pricing of the security solutions are expected to operate as barriers to the growth of global RASP market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global runtime application self-protection (RASP) market which includes company profiling of Digital.ai Software Inc., Contrast Security, Guardsquare nv, Micro Focus, Pradeo, Signal Sciences, LLC, OpenSpan, Waratek, VERACODE, Imperva, among others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global runtime application self-protection (RASP) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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