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.
One type of cryptovirology malware called ransomware threatens to permanently unlock or prevent access to victim data if a ransom is not paid. More sophisticated malware employs a technique called cryptoviral extortion that encrypts victims' files and renders them inaccessible while demanding ransom payments to unlock the device. This method is not difficult for an expert to reverse. To identify and limit payment, ransomware protection is necessary. This would safeguard and protect the data in addition to the systems. Typically, ransomware attacks are using a Trojan that the customer may download or open whenever an email attachment comes and is disguised as a legal file.
Several ransomware attacks have been made throughout the years on computer systems of both small and major businesses. Unchecked PDF downloads from untrusted and unconfirmed communications usually result in the ransomware infection of computers or PCs. The ransomware protection offers security against ransomware assaults, which lock up data until a ransom is paid. It serves as a defence against assault and a guide for the quick and dependable return to normal activities.
Additionally, it offers preventative measures like access controls, security, and client authentication to safeguard data against attack. It also makes regular monitoring of anomalies possible for early attack identification, which lessens the impact of the attack. Moreover, it streamlined the procedures that could lessen the workload involved in identifying and countering threats. Because fewer tools and dashboards require to be regularly monitored, the security team may save resources and time. The market expands as a result of these developments.
Anti-malware software is in high demand and expected to rise during the forecasted period since ransomware protection is a crucial component for both impacted and threatened customers. The preferred and frequently employed method of thwarting such cyber assaults is a threat intelligence service. There is an increased need for a cyber-threat solution among enterprises. The majority of businesses heavily rely on cyber threat solutions since they are successful and effective at identifying attacks and countering various advanced cyber threats and ransomware threats.
Around the world, businesses have been severely impacted by the COVID-19 outbreak. Due to the lockdown enforced by many governments, it has positively influenced the usage of ransomware protection. Companies are concentrating on cutting-edge technologies like AI-powered solutions, automation, and computer technology since COVID-19 instances have decreased. A ransomware protection solution is required to conduct contactless activities safely and effectively because to the rise of cyberthreats like ransomware attacks across sectors like healthcare, BFSI, and government. Additionally, as companies quickly transition to digitalization, there is an increased need for powerful endpoint security solutions that offer agile productivity and real-time reporting capabilities.
The rapid pace of digitalization across various nations in the world is one of the core reasons behind the adoption of latest solutions and services. Organizations are embracing digital transformation as a means of facilitating the transition to remote working. Significant security concerns that have surfaced have impacted many. Companies have benefited for years from digital transformation in terms of becoming more flexible, economical, and productive. The COVID-19 pandemic has also prompted numerous businesses to embrace remote working practices on a significant scale.
There is a constant rise in the case of various security breaches and data leaks around the world. Many businesses among different verticals have gone through any kind of phishing attack in their journey. They have an impact on security systems since numerous offline surveillance systems cause loss. Average IT outages are one thing, but massive data loss is quite another. Protection against ransomware eliminates the possibility of a protracted business closure, lowers the likelihood that an attack would be successful, and minimizes the window for recovery for organizations.
There is a dearth of awareness among security professionals about the benefits of ransomware protection services and solutions. The amount of data gathered for security services has rapidly expanded as systems become more dispersed, flexible, and heterogeneous. Separating essential data has become a challenge for any IT firm as the amount of data generated from various infrastructure components increases. Along with that, security professionals are not well-versed with ransomware protection software and solutions, which would impact the opportunities of key market players.
On the basis of deployment, the ransomware protection market is segmented into On-premise and Cloud. The on-premise segment procured the highest revenue share in the ransomware protection market in 2021. It is due to the many benefits that come with this on-premise deployment, including the high level of data protection and safety. Due to higher data security and fewer data breaches in comparison to cloud-based deployment models, businesses choose on-premise deployment models that further fuel demand for on-premise deployment models in both the public and private sectors.
Based on organization size, the ransomware protection market is classified into Large Enterprises and SME. The SME segment recorded a substantial revenue share in the ransomware protection market in 2021. To improve the operational efficiency of small and medium-sized businesses, more ransomware protection will likely be adopted. Additionally, the industry expands as a result of an ongoing rise in government activities through numerous digital SME campaigns.
By application, the ransomware protection market is divided into Network protection, Endpoint protection, Email protection, Database protection and Web protection. Endpoint protection segment acquired the largest revenue share in the ransomware protection market in 2021. The cyber security strategy for protecting endpoints, like laptops, desktops, and mobile devices, against malicious activities is known as endpoint security, or endpoint protection. Over the past few years, endpoint security has developed from simple antivirus software to a more sophisticated, all-encompassing defence.
On the basis of component, the ransomware protection market is fragmented into Solution and Services. The services segment garnered a substantial revenue share in the ransomware protection market in 2021. The market for ransomware protection services is expected to rise in the future year as a result of several factors like rising corporate competitiveness, user demands, cyberthreats, and project risks. In addition, there are many companies, which are availing these services to reduce their operational time.
Based on industry vertical, the ransomware protection market is categorized into Government and Defense, IT and Telecom, BFSI, Retail, Healthcare, Education and Others. The IT & Telecom sector procured the highest revenue share in the ransomware protection market in 2021. This is due to people using mobile devices more frequently, which presents the business with a number of options. Additionally, the worldwide pandemic-inspired digitalization and technology initiatives that organizations are pursuing in the post-COVID period are anticipated to offer lucrative growth prospects for the ransomware protection market in this sector throughout the forecast period.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 16.2 Billion |
| Market size forecast in 2028 | USD 46.7 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 16.6% from 2022 to 2028 |
| Number of Pages | 329 |
| Number of Tables | 564 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Deployment Type, Organization Size, Application, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the ransomware protection market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America emerged as a leading region in the ransomware protection market with the maximum revenue share in 2021. It is due to the rising utilization of ransomware protection in healthcare and other verticals to save sensitive information from breaches and enhance operations with customer experience. Along with that, governments across various nations of the region are increasingly investing in different sectors and hence, opening lucrative opportunities for the regional market growth.
Free Valuable Insights: Global Ransomware Protection Market size to reach USD 46.7 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Intel Corporation is the most forerunner in the Ransomware Protection Market. Companies such as Sophos Group PLC, Zscaler, Inc. and Bitdefender SRL are some of the key innovators in Ransomware Protection Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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
The Ransomware Protection Market size is projected to reach USD 46.7 billion by 2028.
Increasing Pace Of Digitalization Among Enterprises are driving the market in coming years, however, Dearth Of Strong It Infrastructure And Low Awareness Among Security Professionals restraints the growth of the market.
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.
The expected CAGR of the Ransomware Protection Market is 16.6% from 2022 to 2028.
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.
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.
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