Global Ransomware Protection Market - Segmented by Deployment (On-premise, On-cloud), Application (Endpoint Protection, Email Protection, Network Security, Data Protection), and Region - Growth, Trends, and Forecast (2022 - 2030)
Ransomware Protection Market was worth USD 9.98 billion in 2017 and is projected to grow to USD 24.74 billion by 2023 at a CAGR of 16.34% during the period, 2018 - 2023. The report discusses the deployment mode of solutions and their applications. While the regions considered in the scope of the report include North America, Europe, and various others. The study also emphasizes on how the emergence of ransomware as a service model is changing the market scenario.
The global ransomware protection market is set to witness a significant growth rate in the near future, owing to the growing demand of ransomware protection in recent years as a service. The advent of crypto currencies, such as Bitcoin, has increased the demand of ransomware protection solutions as most of the ransom is demanded in the form of crypto currencies only due to their untraceable nature. Moreover, the industry is influenced by technological developments and has seen the advent of ransomware protection solutions for mobile devices too, apart from PCs.
Increasing Number of Phishing Attacks and Security Breaches Drives the Market
According to a report, the year 2016 saw an increased number of ransomware attacks as 1.2 million phishing attacks were observed, making it the worst year in phishing history. The attackers target the databases and business grid systems through phishing campaigns or malwares of big organizations so that the payoffs can be higher. The first quarter of 2016 saw USD 209 million being paid as payoffs and the number is expected to increase during the next three quarters. The most prominent example could be the attack on HBOs servers in 2017, which resulted in stealing of 1.5TB of data. The data contained organization’s internal mails, financial reports, and unreleased episodes of various famous television series. The increasing number of attacks is expected to drive the ransomware protection market.
Cloud Based Protection to Have the Highest Growth Rate
The cloud-based solutions are anticipated to have a high growth potential, as it is a nascent solution for the market and due to its increasing adoption among organizations. Cloud-based solutions push the threat away from the perimeter of company’s network. It makes the threat much easier to detect, deflect, and eliminate the ransomware attacks far outside the company’s extended network perimeter before they take control. This method is considered more flexible, agile, and adaptive to update the security protocols of a company. These factors are expected to carry the market forward.
North America is the Market Leader
The business organizations in this region are highly targeted by the attackers to extort money. The region is home to many if the is leading players across industry verticals and has some of the biggest film & television production houses too. U.S is having the highest number of crypto currency technology users, increasing the chances of ransomware attacks. The FBI received over 2,400 complains related to ransomware in 2016, which costed the victims USD 24 million. Thus, increasing the demand of ransomware protection solutions in the region.
Key Developments in the Market
•May 2017 - McAfee launched a new tool called Ransomware Interceptor. It is an early detector tool that prevents file encryption attempts by ransomware malware. The tool uses machine learning and heuristics to identify such malware. It later launched an updated version, which was having WannaCry ransomware malware infections detection
The major players include - INTEL SECURITY (MCAFEE), AO KASPERSKY LAB, BITDEFENDER, FIREEYE, INC., MALWAREBYTES, SENTINELONE, SOPHOS LTD., SYMANTEC CORPORATION, TREND MICRO, INC., and ZSCALER, INC., amongst others.
Reasons to Purchase this Report
•Analyzing the use of crypto currencies as payment method and its effects on market scenario
•Analyzing various perspectives of the market with the help of Porter’s five forces analysis
•The deployment mode and application that are expected to dominate the market
•The region that is expected to witness fastest growth during the forecast period
•Identifying the latest developments, market shares, and strategies employed by the major market players
•3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
•This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
The global ransomware protection market is set to witness a significant growth rate in the near future, owing to the growing demand of ransomware protection in recent years as a service. The advent of crypto currencies, such as Bitcoin, has increased the demand of ransomware protection solutions as most of the ransom is demanded in the form of crypto currencies only due to their untraceable nature. Moreover, the industry is influenced by technological developments and has seen the advent of ransomware protection solutions for mobile devices too, apart from PCs.
Increasing Number of Phishing Attacks and Security Breaches Drives the Market
According to a report, the year 2016 saw an increased number of ransomware attacks as 1.2 million phishing attacks were observed, making it the worst year in phishing history. The attackers target the databases and business grid systems through phishing campaigns or malwares of big organizations so that the payoffs can be higher. The first quarter of 2016 saw USD 209 million being paid as payoffs and the number is expected to increase during the next three quarters. The most prominent example could be the attack on HBOs servers in 2017, which resulted in stealing of 1.5TB of data. The data contained organization’s internal mails, financial reports, and unreleased episodes of various famous television series. The increasing number of attacks is expected to drive the ransomware protection market.
Cloud Based Protection to Have the Highest Growth Rate
The cloud-based solutions are anticipated to have a high growth potential, as it is a nascent solution for the market and due to its increasing adoption among organizations. Cloud-based solutions push the threat away from the perimeter of company’s network. It makes the threat much easier to detect, deflect, and eliminate the ransomware attacks far outside the company’s extended network perimeter before they take control. This method is considered more flexible, agile, and adaptive to update the security protocols of a company. These factors are expected to carry the market forward.
North America is the Market Leader
The business organizations in this region are highly targeted by the attackers to extort money. The region is home to many if the is leading players across industry verticals and has some of the biggest film & television production houses too. U.S is having the highest number of crypto currency technology users, increasing the chances of ransomware attacks. The FBI received over 2,400 complains related to ransomware in 2016, which costed the victims USD 24 million. Thus, increasing the demand of ransomware protection solutions in the region.
Key Developments in the Market
•May 2017 - McAfee launched a new tool called Ransomware Interceptor. It is an early detector tool that prevents file encryption attempts by ransomware malware. The tool uses machine learning and heuristics to identify such malware. It later launched an updated version, which was having WannaCry ransomware malware infections detection
The major players include - INTEL SECURITY (MCAFEE), AO KASPERSKY LAB, BITDEFENDER, FIREEYE, INC., MALWAREBYTES, SENTINELONE, SOPHOS LTD., SYMANTEC CORPORATION, TREND MICRO, INC., and ZSCALER, INC., amongst others.
Reasons to Purchase this Report
•Analyzing the use of crypto currencies as payment method and its effects on market scenario
•Analyzing various perspectives of the market with the help of Porter’s five forces analysis
•The deployment mode and application that are expected to dominate the market
•The region that is expected to witness fastest growth during the forecast period
•Identifying the latest developments, market shares, and strategies employed by the major market players
•3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
•This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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