Ransomware is a major and hazardous cyber threat, which gets installed on the duped person's computer either by enciphering the files or by locking the complete system unless a ransom is offered or paid. Thus, to secure the systems and to overall increase the security, the organizations have made investments greater than before particularly in securing the network, data, and endpoints from various advanced cyber threats and crypto-malware including ransomware. Threat intelligence solution is an extensively used and preferred way to provide protection from such cyber threats. Hence, owing to its high demand, threat intelligence solution is expected to witness high growth in the global ransomware protection market in the near future. Majo Ransomware is a major and hazardous cyber threat, which gets installed on the duped person's computer either by enciphering the files or by locking the complete system unless a ransom is offered or paid. Thus, to secure the systems and to overall increase the security, the organizations have made investments greater than before particularly in securing the network, data, and endpoints from various advanced cyber threats and crypto-malware including ransomware. Threat intelligence solution is an extensively used and preferred way to provide protection from such cyber threats. All these aspects are anticipated to boost the global ransomware protection market in the coming years.
MARKET SCOPE
The "Global Ransomware Protection Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the ransomware protection market with detailed market segmentation by solution, service, application, industry vertical, and geography. The report provides key statistics on the market status of the leading ransomware protection market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on solution, the global ransomware protection market is segmented into anti-ransomware software, secure web gateways, application control, IDS/IPS, and threat intelligence.
- On the basis of service, the market is segmented into managed, consulting, and support and management.
- Based on application, the market is segmented into network protection, email protection, web protection, endpoint protection, database protection, and others.
- Based on industry vertical, the market is segmented into BFSI, IT and telecom, healthcare, energy and utilities, retail, and others.
MARKET DYNAMICS
Drivers:
- Owing to the rise in the demand for ransomware protection in recent years as a service, the global ransomware protection market is projected to witness a substantial growth rate.
- The beginning of cryptocurrencies, such as Bitcoin, Etherium, has enhanced the demand for ransomware protection solutions as a majority of the ransom is demanded in the form of cryptocurrency due to its untraceable nature. Moreover, the ransomware protection market is affected by technological developments and has seen the advent of ransomware protection solutions for mobile devices too, apart from PCs.
- The rise in demand for data backup and recovery solutions, and sharing of threat intelligence among enterprises are some opportunities for the ransomware protection market.
Restraints:
- Availability of free endpoint security solutions for ransomware protection are some factors that will restrain the ransomware protection market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The ransomware protection market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the ransomware protection market in these regions.
IMPACT OF COVID-19 ON RANSOMWARE PROTECTION MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the ransomware protection market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from ransomware protection market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the ransomware protection market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AO Kaspersky Lab
- Bitdefender
- Broadcom
- Cyemptive Technologies, Inc.
- FireEye
- McAfee, LLC
- Malwarebytes
- Sophos Ltd.
- Trend Micro Incorporated
- Webroot Inc. (OpenText)