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).
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
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.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
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).
Big savings with Technavio this February!
Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.
Celebrate winter sports with 23% OFF all reports in our Outdoor Gear library (Offer valid from Feb 9-25).
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.