Mobile Runtime Application Self-Protection Market to Surpass US$ 1,226.2 Million by 2025

Published On : Sep 03, 2018

The global mobile runtime application self-protection market, by Deployment Model (On-Premise and Cloud-Based), by Organization Size (Large Organizations and SMEs), By Industry Verticals (BFSI, Energy & Utilities, IT & Telecommunication, Public Sector, Healthcare, Manufacturing, Retail, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), was valued at US$ 80.4 million in 2017, and is expected to increase to US$ 1,226.2 million by 2025, registering a CAGR of 41.4% over the forecast period (2018-2025), according to the report published by Coherent Market Insights.  

Cloud-based RASP solution is gaining traction in the market. Most of the organizations find it difficult to manage integrated and standalone RASP security solutions due to budget constraints or lack of resources. Hence, this forced companies to adopt cloud-based security solutions. Among industry verticals, banking, financial services, and insurance segment held the dominant position in the global mobile runtime application self-protection market in 2017 and is expected to retain its dominance throughout the forecast period.

Increasing number of mobile application users globally is one of the major factors driving growth of the market

Rising adoption of smartphones is increasing the scope for mobile advertising, including SMS & MMS advertising, mobile web, mobile video & television, and several online advertising channels; dependency on social networking sites; and the requirement for on-demand services such as online messaging applications, video chat, and voice calls, at anytime and anywhere. For instance, according to Coherent Market Insights’ analysis, as of 2017, over 55% of traffic on LinkedIn is estimated to be generated due to the use of mobile phones and over 80% of revenue on Twitter is generated through mobile advertising. This will increase the risk of cyber-attacks. Moreover, rampant advancements in technology and increasing use of 2G, 3G, and 4G Long-Term Evolution (LTE) wireless networks, along with the introduction of 5G mobile networks are influencing demand for mobile applications, which further is responsible for surge in cyber threat. These cellular networks enable connectivity and communications to exchange real-time information, data, and online transactions among other activities, which are prominent targets of cyber-attacks. These are major factors that drive growth of the market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/mobile-runtime-application-self-protection-market-2097

Key Trends and Analysis of the Global Mobile Runtime Application Self-Protection Market:

  • Among regions, North America held the dominant position in the market in 2017 and is projected to retain its dominance over the forecast period, owing to increasing cyber-attacks in the region in the recent past. For instance, a couple of cyber-attacks, which were witnessed in the region in 2016 and 2017 include distributed denial of service (DDoS) attacks (an attack in which multiple compromised computer systems attack a target such as a server, website or other network resource, and cause a denial of service for users of the targeted resource) and structured query language (SQL) injection by hackers, in order to monitor data entered into the mobile applications.
  • Among verticals, the global mobile runtime application self-protection market is segmented into banking, financial services, and insurance (BFSI), energy & utilities, IT & telecommunication, public sector, healthcare, manufacturing, retail, and others, where others segment includes education, travel, and entertainment. In 2017, the BFSI segment held the dominant position in the market and is expected to retain its dominance over the forecast period. This segment is a potential target for cyber-attack for oblique reasons. The objective here is not to make a monetary gain. It is to disturb the power supply and cause chaos. Energy infrastructures ranging from oil pipelines to nuclear power plants have been the target of cyber-attacks in the recent past. For instance, according to a press release of Forbes, in March 2018, hackers hacked into the U.S. government entities and domestic companies in the energy, nuclear, commercial facilities, water, aviation, and critical manufacturing sectors.
  • Major 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 market presence and improve product portfolio.

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