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Global Ransomware Protection Market: Growth Dynamics

The expansion of the market is driven by an increase in the number of phishing attacks and security breaches.

Data breaches and other types of security flaws are becoming increasingly common in every region of the world. Phishing attacks have happened to a large number of businesses, spanning a diverse range of fields, at some point in time. Loss is incurred by many different offline surveillance systems, which is why they have an effect on security systems. Massive data loss is considerably different from average IT breakdowns. Security against ransomware lowers the likelihood that an attack will be successful, shortens the window of opportunity for enterprises to recover, and eliminates the possibility that a company will be forced to shut down for an extended period of time.

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Report Scope

Ransomware Protection Market: Segmentation Analysis

The global ransomware protection industry is segmented based on component, deployment, organization size, application, industry vertical, and region.

Based on the component, The global market can be broken down into two categories: services and solutions. In 2022, a sizeable revenue share of the ransomware prevention market was accounted for by the services sector. It is anticipated that the market for ransomware protection services will expand in the following year due to factors such as a growth in the competitiveness of companies, the expectations of customers, cyberthreats, and the risks associated with projects. In addition, numerous companies are making use of these services in order to reduce the amount of time spent operating their operations.

Based on the deployment, The cloud and on-premise ransomware prevention markets are subdivided within the worldwide ransomware protection industry. When we look back at the ransomware protection market in 2022, the on-premises category will have the largest revenue share. This is due to the multiple benefits that come with an implementation on the business's own premises, one of which is a high level of data protection and safety. On-premise deployment models are preferred by businesses over cloud-based deployment models because they provide enhanced data security and less opportunities for data breaches. This preference helps drive demand for on-premise deployment models in both the public and private sectors.

Based on the organization size, the global ransomware protection industry is segmented into SMEs and large enterprises. In 2022, the SME segment accounted for a sizable revenue share of the ransomware protection market. More ransomware protection will most likely be used to increase the operational efficiency of small and medium-sized organizations. Furthermore, the business is growing as a consequence of an increase in government initiatives through several digital SME programs.

Based on the application, Endpoint protection, network protection, database protection, web protection, and email protection are the five submarkets that make up the global market for cybersecurity solutions. When the year 2022 rolls around, the endpoint protection segment of the ransomware prevention market will have the largest revenue share. Endpoint security, also known as endpoint protection, is a strategy used in cyber security to protect endpoints, such as laptops, desktop computers, and mobile devices, from malicious actions. Endpoint security is also sometimes referred to as endpoint protection. For the past few years, endpoint security has progressed from being comprised primarily of straightforward antivirus software to a more intricate and all-encompassing protection.

Based on the industry vertical, The BFSI sector, IT & Telecom, government & defense, retail, education, healthcare & life sciences, and other segments make up the global market. By 2022, the information technology and telecommunications industry will hold the largest revenue share in the market for ransomware prevention. This is due to the fact that customers are using their mobile devices on a more regular basis, which presents a wide range of opportunities for businesses. In addition, the efforts that businesses are making in the post-COVID period to digitalize and advance their technology in response to the global pandemic are anticipated to offer excellent growth potential for the ransomware security market throughout the projected period.

The global Ransomware Protection market is segmented as follows:

By Component

• Solution

• Services

By Deployment

• Cloud

• On-premise

By Organization Size

• SMEs

• Large Enterprises

By Application

• Endpoint Protection

• Network Protection

• Database Protection

• Web Protection

• Email Protection

By Industry Vertical

• BFSI

• IT & Telecom

• Government & Defense

• Retail

• Education

• Healthcare & Lifesciences

• Others

Browse the full “Ransomware Protection Market By Component (Solution And Services), By Deployment (Cloud And On-Premise), By Organization Size (SMEs And Large Enterprises), By Application (Endpoint Protection, Network Protection, Database Protection, Web Protection, And Email Protection), By Industry Vertical (BFSI, IT & Telecom, Government & Defense, Retail, Education, Healthcare & Lifesciences, And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/ransomware-protection-market

Competitive Landscape

Some of the main competitors dominating the global Ransomware Protection market include -

• Broadcom Inc.

• Intel Corporation

• Bitdefender SRL

• SentinelOne Inc.

• FireEye Inc.

• Kaspersky Lab

• Sophos Group PLC (Thoma Bravo)

• Trend Micro Inc.

• Zscaler Inc.

• Malwarebytes Inc.

• McAfee LLC

• Symantec Corporation

• Trend Micro Incorporated

• IBM Corporation

• Thales

• Morphisec Ltd.

• Crowdstrike

• Datto Inc.

• Veritas

• Acronis International GmbH

• CyberArk Software Ltd.

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Ransomware Protection market is likely to expand at a CAGR of around 17.5% during the forecast period (2023-2030).

• In terms of revenue, the Ransomware Protection market size was valued at around US$ 20.3 billion in 2022 and is projected to reach US$ 73.9 billion by 2030.

• The increasing cyberattacks in the healthcare sector across the globe are expected to drive ransomware protection industry expansion over the forecast period.

• Based on the component, the services segment is expected to hold the largest market share over the forecast period.

• Based on the deployment, the on-premise segment held the largest revenue share in 2022.

• Based on the organization size, the SMEs segment is expected to dominate the market during the forecast period.

• Based on the application, the end-point protection segment held the largest market share in 2022.

• Based on the industry vertical, the IT & Telecom segment held the largest market share in 2022.

• Based on region, North America is expected to hold the largest market share during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Ransomware Protection industry?

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Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030

• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

• Market Segmentation – A detailed analysis By Component, By Deployment, By Organization Size, By Application, By Industry Vertical, And By Region

• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

Over the period covered by the forecast, it is anticipated that the North American region will hold the greatest market share. The usage of ransomware prevention in healthcare and other industries to safeguard sensitive data from attacks and improve operations and customer experience is largely responsible for the increase in the region. For example, the results of a Sophos Global Survey indicate that the number of ransomware attacks on healthcare businesses rose by 94% in 2021. The number of healthcare organizations that were impacted increased to 66% from 34% the year before.

Also, the growing number of government projects in the region is expected to be a major factor in the growth of the market over the next year. In 2019, the government of the United States of America launched a programme with the intention of protecting voter registration records and systems in advance of the presidential election. In 2016, Russian hackers with the intention of acquiring data broke into these systems, which are used to validate voter eligibility before they cast ballots. As a consequence of the proliferation of such threats, there is an enormous demand for ransomware prevention solutions that can shield the nation from significant invasions.

In addition, it is anticipated that growth in the Asia Pacific region would occur at the highest CAGR during the time covered by the forecast. The expansion of e-commerce in the region, together with an ever-increasing reliance on online business dealings and services, is largely responsible for the growth that has taken place in this area. For example, Euromonitor International forecasts that revenues generated through e-commerce in the Asia Pacific region will nearly double by the year 2025, reaching a total of USD 2 trillion.

In addition to this, the findings of Claroty's research suggest that the Global State of Industrial Cybersecurity in 2021: Resilient In the year 2021, 80% of firms in APAC were victims of ransomware attacks, with 51% of those organizations paying the demanded amount. As a result, it is anticipated that the growing incidence will fuel the growth of the ransomware protection market throughout the period covered by the forecast.

By Region

• North America

  • U.S.

  • Canada

  • Rest of North America

• Europe

  • France

  • UK

  • Spain

  • Germany

  • Italy

  • Rest of Europe

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Rest of Asia Pacific

• The Middle East & Africa

  • Saudi Arabia

  • South Africa

  • Rest of the Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Recent Developments

Ransomware Detection was recently included as a feature of Cloud Backup for Microsoft 365 by AvePoint, the industry's leading provider of SaaS and data management solutions. This addition was made in March 2022 and is intended to help protect digital collaborative data. This new piece of software proactively recognizes suspicious activity within users' Microsoft OneDrive accounts while reducing the impact on productivity and communication caused by such conduct. When strange behaviour is detected, Cloud Backup will provide detailed reports to help speed up the investigation and bring the customer's admin's attention to any problematic regions. Customers are able to quickly recover data that is essential to their business if they use Cloud Backup, since it can also quickly restore all of the data from OneDrive or just a piece of it.

ActZero, a Managed Detection and Response (MDR) service that is recognized by Gartner, added a Ransomware Readiness Assessment for small and medium-sized enterprises in the month of August 2022. (SMEs). This application mimics the progression of a ransomware assault, which has the potential to highlight critical weaknesses and lateral routes that are left by outmoded technologies. With this crucial level of awareness, businesses may immediately begin taking steps to reduce risk.

The acquisition of the assets of FileScan.IO, a free next-generation malware analysis platform focused on extracting Indicators of Compromise ("IOCs") and related threat intelligence data, was announced by OPSWAT, a leading supplier of critical infrastructure protection (CIP) cybersecurity solutions, in October 2022. OPSWAT is a leading supplier of cybersecurity solutions for critical infrastructure protection (CIP).

Palo Alto Networks, the most successful cybersecurity company in the world, made the announcement that it had finished acquiring Cider Security (Cider) in December 2022. Cider was a pioneer in application security (AppSec) and software supply chain security. Palo Alto Networks is the most successful cybersecurity company in the world.

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FREQUENTLY ASKED QUESTIONS

• What is ransomware protection?

• Which key factors will influence the ransomware protection market growth over 2023-2030?

• What will be the value of the ransomware protection market during 2023-2030?

• What will be the CAGR value of the ransomware protection market during 2023-2030?

• Which region will contribute notably towards the ransomware protection market value?

• Which are the major players leveraging the ransomware protection market growth?

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