Rising demand of Bring Your Own Device in companies to propel the Mobile Runtime Application Self-Protection Market

 

Mobile Runtime Application Self-Protection Market, By Component (Solutions, Services), Deployment Mode (On-premises, Cloud), Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), Vertical (Banking, Financial Services, and Insurance (BFSI), IT and telecommunications, Government and Defense, Energy and Utilities, Manufacturing, Healthcare, Retail, Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Size, Share, Outlook, and Opportunity Analysis, 2023-2030

The global Mobile Runtime Application Self-Protection Market is estimated to be valued at reach US$ 666.65 Mn. in 2021and is expected to exhibit a CAGR of 31.98 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Mobile Runtime Application Self-Protection is a privacy method created to offer personalized protection to apps. It takes benefits of the insight into a user’s internal data and state to allow it to detect the potential risks at runtime that may have else been unnoticed by other privacy methods. It helps to attack hidden vulnerabilities.

Competitive Landscape:

Key players involved in the growth of global Mobile Runtime Application Self-Protection Market are Veracode, Cigital Inc, VASCO Data Security International, Promon AS, Waratek, Hewlett-Packard, Wipro, WhiteHat Security, Prevoty, Optiv Inc and IMMUNIO. 

Market Key Drivers:

Increasing demand of bring your own device in the organizations is expected to augment the growth of global Mobile Runtime Application Self-Protection Market. For instance, as per the facts and figures around 83% companies have adopted the BYOD system.

The usage of cloud computing due to flexibility and real time deployment for the convenience of companies is anticipated to drive the growth of global Mobile Runtime Application Self-Protection Market. For instance, as per ISE around 94% of companies have adopted cloud computing in the organization and further the computing industry has been valued at US$480.04 billion in 2022.

Covid-19 Impact Analysis:

The Covid-19 outbreak has significantly affected the growth of the global Mobile Runtime Application Self-Protection Market due to the surge in pandemic cases. The rising pandemic cases has led to imposition of strict lockdown and social distancing measures. The shift of employees towards work from home has enhanced the usage of cloud which is projected to fuel the market growth.

Key Takeaways:

The global Microspheres Materials Market is anticipated to exhibit a CAGR of 31.98 % during the forecast period due to rise in cyber threats.  For instance, as per AAG, over 236.1 million cyber threats occurred globally in 2022.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Microspheres Materials Market due to rising cyber threats, increasing adoption of BYOD and cloud, rising investment and mergers and acquisitions. For instance, In 2019, Greylock invested US$14 million application security startup Sqreen.