Ransom ware Protection Market Outlook 2031
The global ransom ware protection market size was valued at USD 20.28 Billion in 2022 and is estimated to reach USD 83.96 Billion by 2031, expanding at a CAGR of 17.1% during the forecast period, 2023-2031. The growth of market is attributed due to increased awareness about the cyber attackers and breaches, emergence of crypto currency, and extensive use of laptop and desktop by the world population because of COVID outbreak.
Introduction of crypto currencies such as bit-coins, doge-coins, and etherium has extensively increased the demand for ransom ware protection because of its untraceable in nature most of the transactions are demanded in the form of crypto. Nowadays many companies have adapted the cloud services which make them more vulnerable and offer an opportunity for the cyber attackers.
Ransom ware Protection Market Trends, Drivers, Restraints, and Opportunities
- Increasing emergence of crypto currencies is expected to boost the market in the coming years.
- Growing cyber attackers and crimes is estimated to drive the market during the forecast period.
- Increasing awareness about the vulnerability of data stored in cloud by the companies is one of the factors that drive the market in the coming years.
- Increasing use of crypto currency as a mode of transaction is expected to boost the market.
- Lack of skilled professionals to solve the cloud related problems and availability of alternatives act as one of the major factor that can hinder the market during the forecast period.
- Organization demand for multi layered security solution is expected to create a lucrative opportunities for the key players in the market.
- R&D investment and technological advancement in data backup and data recovery solution is anticipated to offer significant opportunities for the market players.
Scope of Ransom ware Protection Market Report
The report on the ransom ware protection market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Ransom ware Protection Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Deployment (On-cloud and On-premises), Application (E-mail Protection, Network Security, End Point Protection, and Others)
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Regional Scope
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Asia Pacific, Europe, North America, Latin America, Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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McAfee LLC; FireEye Inc.; Malwarebytes; Bitdefender; AO Kaspersky lab.
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Ransom ware Protection Market Segment Insights
Deployment Segment Analysis
On the basis of deployment, the market is bifurcated into on-cloud and on-premises. The on-cloud segment is anticipated to exhibit a high CAGR during the forecast period due to COVID-19 outbreak led to extensive usage of cloud-based solutions IoT devices, and multilayered defensive storage method. On the other hand on-premises segment is expected to grow at a robust rate due to increasing privacy issues.
Application Segment Analysis
Based on application, the market is fragmented into e-mail protection, network security, end point protection, and others. The end point protection is estimated to account key share of the market in the coming years owing to increasing number of cyber-crime/attackers and vulnerability of data available of the company in the cloud storage.
On the other hand network security segment is estimated to grow at a rapid rate due to rising awareness to protect the confidentiality, accessibility, and integrity of the data using computer network.
Regional Outlook
In the term of regions, the market is fragmented into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America is expected to dominate the market during the forecast period due to increasing number of cyber-attacks and hackers and intension to extract huge ransom from the businesses.
Asia Pacific market is expected to grow at a significant pace owing to one of the rapid growing market owing to attackers is aiming small scale enterprises through masquerading them.
Segments
The ransom ware protection market has been differentiated on the basis of
Deployment
Applications
- E-mail Protection
- Network Security
- End Point Protection
- Others
Regions
- Asia Pacific
- Europe
- North America
- Latin America
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the ransom ware protection market include McAfee LLC; FireEye Inc; Malwarebytes; Bitdefender; AO Kaspersky lab.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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In February 2021, AO Kaspersky lab launches its safer tomorrow platform with an intension to respond the queries of the population powered by neutral network and developed by branch of global advertising agency BBDO.
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In December 2020, FireEye,Inc announces USD 400 million strategic investment by blackstone tacticals. Black stone joined hands with clear sky a security focused firm as a co-investor in the investment.
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