Cyber-attacks on industries like telecommunications, healthcare, banking and financial services, retail, and manufacturing are pushing the adoption of mobile runtime application self-protection solutions. According to F-Secure Labs, about 5000,000 data samples were received everyday from clients in 2016, with around 10,000 malware and 60,000 harmful URLs reported. Approximately 16,468 scams involving ATMs, debit cards, credit cards, and net banking were reported to the Reserve Bank of India (RBI) between 2015 and 2016. The number of frauds reported in 2015 was higher than the number reported in 2014, which was approximately 13,083 frauds, and the number reported in 2013, which was around 9,500 frauds. These are the main reasons for the growing popularity of mobile runtime application-based security.
Market Developments:
Increased use of Mobile Runtime Application Self-Protection Market and internet adoption are two reasons contributing to an increase in distributed denial of service (DDoS) assaults. Furthermore, according to Internet World Stats, the overall number of internet users was 3,885,567,619 as of June 30, 2017, out of a global population of 7,519,028,970. This is due to the expansion of the internet, which is increasing the volume of data traffic, connection requests, floods of emails, and messages to target systems that are used in distributed denial of service assaults. This could cause the system to slow down or possibly crash.
Over the projected period, the cloud-based category is expected to grow at the fastest rate (2018-2025)
The cloud-based deployment approach is predicted to grow at the fastest rate over the forecast period. Security of applications at runtime can be ensured by using cloud technology with the help of tools and solutions available online, where security and protection services are supplied over the cloud. Cloud is predicted to be the fastest-growing deployment option category, since it offers higher scalability, speed, 24/7 services, and Mobile Runtime Application Self-Protection capabilities to businesses. When compared to on-premise implemented solutions, cloud-based services are more cost-effective. Furthermore, runtime application self-protection solutions are cost-effective due to their dynamic nature (services can be accessed as needed).
The BFSI segment dominated the market and is projected to continue to do so over the forecast period.
Increased need for security solutions is being driven by the proliferation of online transactions and increased use of services such as National Electronic Fund Transfer (NEFT), Real-time Gross Settlement Systems (RTGS), Electronic Clearing Service (ECS), and Mobile Runtime Application Self-Protection Market. Hacking is becoming more common as the number of payment gateways, e-commerce websites, and mobile applications that accept online transactions and store credit card and debit card information grows. Because this information is especially vulnerable to cyber-attacks, security solutions such as mobile runtime application self-protection are becoming more popular.
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