PUBLISHER: Allied Market Research | PRODUCT CODE: 1140205
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140205
Ransomware is one of the forms of malicious software designed to block access to a victim data until a sum of money is paid. Although some simple ransomware can lock the device in a way that is not difficult to unlock by an expert, more complicated malware uses a method known as crypto-viral extortion, which encrypts and makes inaccessible victims' files before demanding ransom payments to recover them. Majority of the ransomware are spread via illegal URLs or email attachments. These ransomware breaches are easily overcome through traditional security solutions such as firewalls or antivirus software that may be installed. As a result, businesses are increasingly looking for non-traditional solutions to prevent future ransomware attacks. Furthermore, as organizations are shifting their operations over the cloud, key players actively involved in the ransomware protection market will have to make the resultant shift. Furthermore, start-ups have often come forward with innovative solutions as that are not tied down by legacy software and can seamlessly shift to emerging technologies such as cloud computing.
Rise in penetration of ransomware-as-a-service (RaaS) is a major factor contributing toward the growth of the global ransomware protection market. In addition, rapid digitization in businesses and advent of cryptocurrencies such as Bitcoin drive the growth of the market. However, lack of professional and awareness regarding cyberattacks and high cost of innovation and budget constraints hamper the market growth. On the contrary, surge in demand for multi-layer security across enterprises as well as increase in adoption for cloud-based services are expected to provide lucrative growth opportunities for the market expansion in the upcoming years.
The global ransomware protection market is segmented into component, deployment mode, application, organization size, industry vertical, and region. By component, the market is bifurcated into solution and services. On the basis of deployment mode, it is divided into cloud and on-premises. Depending on application, it is categorized into network protection, endpoint protection, email protection, database protection, and web protection. As per industry vertical, it is segregated into BFSI, retail, education, IT & telecom, healthcare, government & defense, and others. According to organization size, it is fragmented into SMEs and large enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the ransomware protection market include Bitdefender, Cisco systems Inc., Intel Corporation, Kaspersky Lab, MacAfee LLC, Microsoft corporation, SentinelOne, Sophos Group PLC, Symantec corporation, and Trend micro incorporated. These major players have adopted various development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the ransomware protection market globally.
Key Benefits For Stakeholders
Key Market Segments
By Deployment Mode
By Organization size
By Component
By Application
By Industry Vertical
By Region