Runtime Application Self Protection Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Runtime Application Self Protection Market Analysis

The Runtime Application Self Protection Market size is estimated at USD 1.57 billion in 2024, and is expected to reach USD 5.54 billion by 2029, at a CAGR of 28.82% during the forecast period (2024-2029).

Adopting the bring-your-own-device (BYOD) policy, which allows personal devices like laptops, smartphones, and tablets for business use, coupled with the heightened need to safeguard critical applications and organizational data, propels this market's growth.

• Increasing cyber-attack risks, leading to fraud and misuse of trusted business data, and the absence of security professionals during the Software Development Life Cycle (SDLC) further shape the market dynamics. Moreover, factors like digitization, urbanization, a surge in demand for advanced services, and stringent regulatory requirements to safeguard sensitive information bolster the runtime application self-protection market. The rise of cloud computing, virtualization, and the integration of runtime application self-protection with other security technologies present lucrative opportunities for market players during the forecast period.
• Technological innovations in RASP solutions, such as enhanced threat detection, seamless integration with development tools, and superior performance, drive the market's expansion. These enhancements render RASP security more effective and attractive to organizations.
• The market's growth is further propelled by a pronounced emphasis on cloud-native security solutions, especially as enterprises transition to cloud environments. Flexera Software reports that in 2024, approximately 80 percent of global businesses embraced Microsoft Azure's public cloud services, marking an uptick from 73 percent in 2023. Furthermore, AWS emerged as the second most popular public cloud provider, with its adoption rising from 74 percent in 2023 to 78 percent in 2024.
• With a growing awareness of application security's significance and the shortcomings of conventional measures, organizations are increasingly gravitating toward solutions that offer holistic protection. RASP security stands out by delivering real-time application defense.
• In September 2024, Guardsquare unveiled a novel guided approach to mobile application security. This allows development teams to secure their apps comprehensively within a single day. This innovative solution boosts developer productivity, enhances security visibility, and fosters collaboration between security and development teams. Compatible with iOS and Android, it streamlines the process of implementing robust defenses against reverse engineering and tampering, irrespective of the developer's expertise.
• However, the financial implications of RASP security solutions encompassing licensing, integration, and ongoing maintenance can be steep. This poses a challenge, especially for smaller organizations or those operating on limited budgets.
• High inflation can limit financial conditions for businesses, often resulting in slit budgets for non-essential investments, such as cybersecurity. Consequently, organizations might postpone or reduce their planned investments in security solutions, like RASP, prioritizing immediate operational needs instead. According to IMF global inflation reached 6.78 percent in 2023, this is the highest annual increase in inflation since 1996.

Runtime Application Self Protection Market Trends

BFSI End-user Vertical Segment is Expected to Hold Significant Market Share

Runtime Application Self Protection Industry Segmentation

Runtime Application Self Protection (RASP) offers tailored security for applications. Leveraging insights into an application's internal data and state, RASP identifies runtime threats that might be missed by conventional security measures. Unlike broad network or endpoint defenses, RASP is specifically designed to envelop and safeguard individual applications. This focused approach allows RASP to effectively monitor the application's inputs, outputs, and internal dynamics.

The study tracks the revenue accrued through the sale of the runtime application self protection solutions by various players across the globe. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyses the overall impact of COVID-19 after effects and other macroeconomic factors on the market. The report’s scope encompasses market sizing and forecasts for the various market segments.

Runtime Application Self Protection Market is segmented by component (solutions, services), by deployment mode (cloud, on-Premises), by organization size (large enterprises, small and medium-sized enterprises (SMEs)), by end user vertical (IT and telecommunications, energy and utility, manufacturing, banking, financial services, and insurance (BFSI), healthcare, government and defense, retail, others), by geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The report offers market forecasts and size in value (USD) for all the above segments.