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Mobile Runtime Application Self-Protection Market New Research Highlights the Current Trends, Opportunities And Challenges

The constant cyber-attacks on industries such as telecom, healthcare, banking and financial, retail, and manufacturing is influencing adoption of mobile runtime application self-protection solutions. According to F-Secure Labs, in 2016, around 5000,000 samples of data were received from customers daily, reporting around 10,000 malware and around 60,000 malicious URLs. According to the Reserve Bank of India (RBI), during 2015–2016, around 16,468 frauds associated with ATM, debit card, credit card, and net banking were reported. The number recorded in 2015 was higher than that recorded in 2014, accounting for around 13,083 frauds and that recorded in 2013, accounting for 9,500. These are the major factors leading to increasing adoption of mobile runtime application-based security.

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Market Trends:

Increasing utilization of mobile devices and rising adoption of internet are some of the factors for increasing distributed denial of service (DDoS) attacks. For instance, according to Coherent Market Insights’ analysis, as of 2016, over 68% of the global population was already using mobile phones. Moreover, according to the Internet World Stats, as of June 30, 2017, total number of internet users was pegged at 3,885,567,619 among global population of 7,519,028,970. This is due to proliferation of internet, which is simultaneously increasing volume of data traffic, connection request, floods of mails, and messages to target system that are responsible for distributed denial of service attacks. This might slow down the system or even crash down the system.

Cloud-based segment is expected to exhibit the highest CAGR over the forecast period (2018-2025)

Among deployment model, cloud-based segment is expected to exhibit the highest CAGR over the forecast period. By leveraging cloud technology, security of applications at runtime can be ensured with the help of tools and solutions provided online, wherein security and protection services are offered over the cloud. Cloud is expected to be the fastest-growing deployment mode segment, as it benefits organizations with increased scalability, speed, 24/7 services, and enhanced management capabilities. The cloud-based services offer economic solutions when compared to on-premise deployed solutions. Moreover, on account of its dynamic nature (services can be availed as per need), the solutions for runtime application self-protection prove to be cost-effective.

BFSI segment held dominant position in the market and is expected to retain its dominance over the forecast period

Proliferation of online transactions and increasing use of services such as National Electronic Fund Transfer (NEFT), Real-time Gross Settlement Systems (RTGS), Electronic Clearing Service (ECS) as well as mobile transactions are leading to increasing demand for security solutions. Increasing number of payment gateways, e-commerce websites, and mobile applications that accept online transactions and store credit card and debit card information are also increasing susceptibility to hacking. This confidential data is highly susceptible to cyber-threats and therefore leads to increasing adoption of security solutions including mobile runtime application self-protection.

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Asia Pacific market is projected to witness the highest CAGR over the forecast period

Asia Pacific is expected to be the fastest growing market for RASP software over the forecast period. The emerging economies in the region such as India and China are witnessing an influx of a large number of software companies such as IBM and HP setting up research and development facilities in the region, in order to technologically update their existing RASP products. These factors are driving growth of the market in the region.

A large number of RASP solution vendors based in North America and Europe are also focusing on expanding in Asia Pacific countries, in order to tap the market for RASP software services in the region, which in turn is expected to drive growth of the market

Key players operating in the global mobile runtime application self-protection market include Pradeo, Micro Focus, Vasco Data Security International Inc. (OneSpan Inc.), CA Veracode, IMMUNIO, Arxan, Signal Science, Promon, Prevoty, Inc., and Waratek. The market players are adopting various growth strategies such as mergers & acquisitions, product launches, collaborations, geographic expansion, and others to expand their geographical presence and improve product portfolio.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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