Runtime Application Self-Protection Market Trends

Growth Drivers

• Increasing Demand for Integrated Security Suites – Integration security provides organizations protection by minimizing the risk from threats that involve an integration process of the system. Multiway protection is provided by this system integration through interlinking the access control, video management, public address system, and alarm systems. Unlike firewalls, this system integration is expected to provide a multi-layered security system to organizations linking all the threat risks. The increasing cyberattacks across the world are estimated to boost market growth. As per the reports, the ransomware attacks in 2019 were raised by over 40% including more than 200,000 business organizations with loss of access to important files across the world.

• Implementation of Bring-Your-Own-Device (BYOD) Policy in Many Sectors – According to the estimations, BYOD was worth over USD 75 billion worldwide and more than 60% of business organizations observed productivity rise after using BYOD.

• Rising Needed for Data Security Around the World with Many Cyber Attacks – As per the observations, cybersecurity and technology risk management are estimated to raise by over 11% by the end of 2023 around the globe.

• Rising Use of Applications for Business and Other Works – According to the observations of 2022, over 80% of people across the U.S. are spending their time using applications on smartphones.

Challenges

• Limited budget to deploy cutting-edge security solutions - However, a limited budget in organizations to deploy cutting-edge security solutions is likely to restrain the growth of the market. Moreover, high R&D expenses to develop advanced RASP solutions lead to high pricing of security solutions. This may further challenge the market growth.
• High R&D expenses to develop advanced RASP solutions
• High Cost of Innovation