According to a new report, published by KBV research, The Global Ransomware Protection Market size is expected to reach $46.7 billion by 2028, rising at a market growth of 16.6% CAGR during the forecast period.
The BFSI segment is showcasing a CAGR of 15.5% during (2022 - 2028). Due to modern extortion techniques, ransomware attacks have a significant effect on financial firms. These effects include company disruption, revenue loss, reputational harm, data loss, and the public revelation of sensitive information. Financial institutions have fallen prey to costly attacks despite having some of the most advanced security systems in the financial services sector.
The Solution segment acquired maximum revenue share in the Global Ransomware Protection Market by Component in 2021 thereby, achieving a market value of $33.3 billion by 2028. Adopting technologies to protect against ransomware has many advantages that can help with cyber event detection and response. Additionally, it not only contributes to improving cybersecurity but also has the potential to save money, time, and resources, all of which are factors in the market's expansion.
The Cloud segment has shown the growth rate of 18.3% during (2022 - 2028). Owing to its lower cost and simpler maintenance, cloud-based ransomware prevention is projected to become more widely used in the coming years, opening potentially significant growth opportunities. Additionally, it offers scalability and flexibility to improve company processes that fuels the market for ransomware protection's expansion. Cloud storage is not completely secure and is not immune to ransomware threats.
The Large Enterprises segment is generating highest revenue share in the Global Ransomware Protection Market by Organization Size in 2021 thereby, achieving a market value of $30.0 billion by 2028. In order to conduct business operations safely and securely, large organizations are increasingly adopting ransomware protection. Furthermore, in order to improve speed, precision, and value chain scalability, which would be advantageous for market expansion, huge organizations are integrating their substantial amounts of data into the cloud.
The Network Protection segment is exhibiting a CAGR of 15.6% during (2022 - 2028). In order to protect the fundamental networking infrastructure from unauthorized modification, malfunction, improper application, and disclosure, the network security system consists of both hardware and software. This gives customers and the network-connected gadgets a secure platform on which to carry out their individual tasks in a safe setting.
The North America market dominated the Global Ransomware Protection Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17.1 billion by 2028. The Europe market is exhibiting a CAGR of 16.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 17.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/ransomware-protection-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Intel Corporation, Broadcom, Inc., Bitdefender SRL, FireEye, Inc., SentinelOne, Inc., Kaspersky Lab, Trend Micro, Inc., Sophos Group PLC (Thoma Bravo), Zscaler, Inc., and Malwarebytes, Inc.
By Vertical
By Component
By Deployment Type
By Organization Size
By Application
By Geography
Companies Profiled
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