Home / Security / Global Runtime Application Self-protection Security Market – Growth Analysis and Forecast | Technavio

Global Runtime Application Self-protection Security Market – Growth Analysis and Forecast | Technavio

LONDON–(BUSINESS WIRE)–Technavio
market research analysts forecast the global
runtime application self-protection (RASP) security market
to
grow at a CAGR of close to 50% during the period 2018-2022,
according to their latest report.

This market research report segments the global runtime
application self-protection security
market into the following
end-users (large enterprises and SMEs) and key regions (the Americas,
APAC, and EMEA).

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In this report, Technavio analysts highlight the implementation of the
BYOD policy as a key factor contributing to the growth of the global
runtime application self-protection security market:

Implementation of the BYOD policy

The BYOD policy allows the use of employees’ personal devices such as
laptops, smartphones, and tablets for business purposes. This permits
them to work from remote locations and help in increasing their
productivity, manage their travel time, and reduce the operational costs
of the companies. SMEs across the world are increasingly adopting the
BYOD policy to reduce their operational costs. A rise in the mobile
workforce has enabled enterprises to have their employees across a given
region, which has led to an increase in their sales and productivity.

The mobile workforce is expected to increase further during the forecast
period due to the high penetration of mobile devices such as tablets,
smartphones, and laptops. The increased use of mobile devices will allow
employees to access confidential data from remote locations.

According to a senior analyst at Technavio for IT
security
, “The use of wireless networks for communication and
data transmission is increasing substantially among employees. An
increase has also been witnessed in the chances of cyber attacks over
mobile devices. This may lead to fraud-related issues and the misuse of
critical corporate and business data. Due to this situation, there has
been an increase in the demand for deception technology solutions for
authenticating individuals, and such solutions will gain prominence
during the forecast period. This is expected to promote the adoption of
RASP security solutions during the forecast period.”

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Global runtime application self-protection
security market segmentation

Of the two end-users, the large enterprise segment dominated the market
by accounting for a share of approximately 72%. It was followed by the
SMEs segment that contributed for the second largest share in the global
runtime application self-protection security market.

The market share of APAC is expected to increase during the forecast
period due to the rising number of initiatives by the organizations in
Japan, Malaysia, Singapore, Indonesia, and India to implement RASP
solutions. In APAC, SMEs and large organizations in the BFSI and
government sectors are currently becoming the targets of phishing scams
and identity thefts due to the advances in technologies such as cloud
solutions and the Internet of things (IoT).

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Technavio
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