Ransomware Protection Market: Global Industry Analysis and Forecast 2024-2030

Ransomware Protection Market size was valued at US$ 76.02 Bn. in 2023 and the total revenue is expected to grow at 16.52% through 2024 to 2030, reaching nearly US$ 221.70 Bn.
Ransomware Protection Market Overview:
Ransomware is a type of crypto virology malware that threatens to permanently unlock or prevent access to victim data if a ransom is not paid. While some simple ransomware can encrypt files and make them inaccessible, more advanced software uses a tactic known as crypto viral extortion, which encrypts data and renders them inaccessible, then demands ransom payments to recover them. For identifying and restricting payment, ransomware protection is necessary. This not only safeguards and protects the systems, but also the data. Ransomware assaults are typically carried out via a Trojan that appears to be a real file that the user can download or open when an email attachment comes.

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Global Ransomware Protection Market Dynamics:
Anti-malware demand is high and inclining over the forecast period, as ransomware protection is an important factor for both impacted and threatened consumers. The most popular and widely adopted method of defending against cyber threats is to use a threat intelligence service. The global ransomware protection market is expected to grow over the forecast period as a result of their increasing demand for a cyber-threat solution. Most businesses rely heavily on cyber threat solutions because they are effective and successful in detecting and countering advanced cyber threats and ransomware threats.

This also decreases cyber risks from safety issues and security breaches in the context of organizational risk management. Additionally, one of the elements driving the global ransomware protection market is a solution for a secure web gateway. Increasing R&D spending for anti-malware protection technologies would also help the product business flourish.

Workplace digitization is accelerating at a breakneck rate, especially in the Asia Pacific area, which is the perfect illustration of a mobile-first, cloud-first' region. While this may result in more ransomware assaults, it also opens up a world of possibilities for the mainstream adoption of cloud-based security solutions. Other areas are expected to follow the Asia Pacific lead in terms of cloud-based ransomware prevention software usage.

One of the market's limitations is a lack of understanding and the use of outmoded cyber security methods; this danger can grow when cloud technology enters the picture. Recent ransomware outbreaks such as WannaCry and Petya have prompted a greater focus on internet security, with small and medium-sized organizations investing in cloud-based security.

BYOD, or bring your own device, has become increasingly popular among businesses throughout the world, in keeping with the 'cloud-first, mobile first' society users currently live in. When it comes to ransomware assaults, these machines are frequently defenseless. While devices like thermostats and connected cameras may not be immediately affected by ransomware, they can readily serve as a point of entry for ransomware attacks that travel to the cloud. Employees prefer BYOD policies because of their ease and flexibility, but they also pose serious security risks to businesses. BYOD can have a direct influence on cloud computing security if Mobile Device Management or VPNs are not strictly implemented.
Global Ransomware Protection Market Segment Analysis:
The global ransomware protection market is segmented by Component, Application, Deployment Mode, Organization Size, and Vertical.

Based on the Deployment Mode, the global ransomware protection market is sub-segmented into Cloud and On-Premise. The Cloud segment held the largest market share of xx% in 2023. Cloud storage is sometimes not immune to ransomware and is not without flaws. Ransomware can potentially harm cloud storage, especially if cloud storage providers do not use anti-ransomware technology on a proactive basis. In reality, ransomware has the potential to affect any internet-connected strategy. This comprises Internet of Things devices such as security thermostats, cameras, and doorbells, as well as PCs, file, email, and data servers, and cloud-based servers that act as cloud storage.

Anti-ransomware security software can also be installed on all devices, including cloud servers and cloud storage. In the event of a ransomware attack, the software should provide redundancy and failover protection. Organizations must also have policies and procedures for data backup and retrieval that are adopted and performed. As part of those disaster recovery procedures, they should also back up all data regularly.

Based on the Vertical, the global ransomware protection market is sub-segmented into Government & Defense, IT & Telecom, BFSI, Education, Healthcare, Retail, Energy & Utilities, and Others. The BFSI segment held the largest market share of xx% in 2023. The BFSI vertical represents businesses that provide customers with a wide range of financial products and services. Commercial banks, banking institutions, insurance agencies, exchanges, cooperatives, mutual funds, pension funds, and other financial institutions fall within this category.

Because of the high-value business functions they perform, the BFSI sector has always been a prominent target for hackers. The rise of cryptocurrencies such as Bitcoin has encouraged the rise of ransomware assaults in this industry. Some of the leading suppliers providing ransomware protection solutions to the BFSI vertical are FireEye, Trend Micro, Sophos, Intel Security, and Symantec Corporation.

Retail held the 2nd largest market share of xx% in 2023. In the present era, ransomware is one of the top five cyber threats facing retailers. Customers' confidential material, such as credit card and debit card numbers, as well as other vital business-relevant data, is rapidly becoming a target for ransomware.
Ransomware Protection Market, by Vertical in 2023 (%)

Global Ransomware Protection Market Regional Insights:
North America held the largest market share of xx% in 2023. Infiltration and cyber-attacks are common in the region. For example, the SamSam ransomware was used to assault Atlanta's IT infrastructure by invading the network, disguising its presence while harvesting passwords, and then locking up many devices. It resulted in the complete closure of online city services, as well as a clean-up and response cost of at least US $2.6 million. There has been an increase in threats from other countries attempting to disrupt the United States critical infrastructure. WannaCry was one such target ransomware, and Park Jin-hook, a North Korean national, was charged with being a part of the WannaCry attack on behalf of the North Korean government. As a result of these activities, businesses have been driven to improve their security segment and reinforce their IT security by updating their services.

Asia Pacific is expected to grow at the highest CAGR of 19.7% during the forecast period. As a result of growing economies such as China, India, and Australia investing extensively in cyber security solutions.

The objective of the report is to present a comprehensive analysis of the global Ransomware Protection Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the global Ransomware Protection Market dynamic, structure by analyzing the market segments and projecting the global Ransomware Protection Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Ransomware Protection Market make the report investor’s guide.
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Global Ransomware Protection Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 76.02 Bn.


Forecast Period 2024 to 2030 CAGR:
16.52 %
Market Size in 2030:
US $ 221.70 Bn.


 Segments Covered:
by Component
Solution
Standalone anti-ransomware software
  Application control
  Secure web gateways
  IDS/IPS
  Threat intelligence
  Web filtering
  Others
Service
Professional Services
  Training and Education
  Consulting
  Support and Maintenance
Managed Services


by Application
Network protection
Email protection
Endpoint protection
Web protection
Database protection


by Deployment Mode
Cloud
On-Premise


by Organization Size
Large Enterprises
SMEs


by Vertical
Government & Defense
IT & Telecom
BFSI
Education
Healthcare
Retail
Energy & Utilities
Others



Global Ransomware Protection Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Global Ransomware Protection Market, Key Players are
1. Bitdefender
2. Fireeye, Inc.
3. Intel Security (Mcafee)
4. Kaspersky Lab
5. Malwarebytes
6. Sentinelone
7. Sophos Group Plc
8. Symantec Corporation
9. Trend Micro, Inc.
10. Zscaler, Inc.
11. IT service providers
12. Managed Security Service Providers
13. System integrators
14. Value-Added Resellers
15. AO Kaspersky Lab

Frequently Asked Questions:

1] What segments are covered in the Global Ransomware Protection Market report?
Ans. The segments covered in the ransomware protection market report are based on component, application, deployment mode, organization size, and vertical.

2] Which region is expected to hold the highest share in the Global Ransomware Protection Market?
Ans. North America is expected to hold the highest share in the global ransomware protection market.

3] What is the market size of the Global Ransomware Protection Market by 2030?
Ans. The market size of the global ransomware protection market is expected to reach US $ 221.70 Bn. by 2030.

4] Who are the top key players in the Global Ransomware Protection Market?
Ans. Bitdefender, Fireeye, Inc., Intel Security (Mcafee), Kaspersky Lab, Malwarebytes, and SentinelOne are the top key players in the global Ransomware Protection Market.

5] What was the market size of the Global Ransomware Protection Market in 2023?
Ans. The market size of the global Ransomware Protection Market in 2023 was US $ 76.02 Bn.