As per MRFR Analysis, the Ransomware Protection Market is set to experience significant growth, expanding from USD 32.24 billion in 2024 to USD 93.35 billion by 2032, with a CAGR of 14.21% during the forecast period. The market was valued at USD 27.7 billion in 2023, driven by the rise of ransomware-as-a-service (RaaS), increased corporate digitization, and the use of cryptocurrencies like Bitcoin for ransom payments. The demand for ransomware protection solutions is further fueled by the growing number of cyberattacks targeting businesses, particularly in the BFSI sector, which remains the largest revenue generator in the market.
Key trends driving the Ransomware Protection Market include technological advancements and increasing cyber threats.
Key companies include AT&T Cybersecurity, CrowdStrike, Microsoft Corporation, Sophos Ltd., Intel Security, and Kaspersky Lab.
Increased use of ransomware-as-a-service (RaaS), growing corporate digitization, and the advent of cryptocurrency like Bitcoin are the key market drivers enhancing the market growth.
Figure 1: Ransomware Protection Market Size, 2024 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for ransomware protection is being driven by the rising ransomware protection. The rise in demand for ransomware protection in recent years as a service. Due to the untraceable nature of cryptocurrencies like Bitcoin and Ethereum, their introduction enhanced the need for ransomware prevention tools. Nowadays, the majority of ransom demands are made in cryptocurrency. The market is also impacted by technical advancements, which have introduced ransomware security tools for mobile devices and PCs.
Attackers now have a chance to target any vulnerability because so many businesses are switching to cloud services. In response to the ransom, distributed denial-of-service (DDoS) attacks are launched, which continue until the ransom is paid or the data risks being permanently lost. Employees continue to be the target of social attacks despite greater awareness of cyberattacks and security breaches. Financial pretexting and phishing accounted for 98% of social occurrences, according to Verizon's Data Breach Index Report for 2018. Many companies worldwide use Bitcoin and other digital assets for various investing, operational, and transactional objectives. There are about 2,300 businesses in the US that accept Bitcoin. As cryptocurrencies gain popularity, fraudsters find them to be increasingly alluring targets. The decentralization of cryptocurrency presents a wonderful potential for financial fraud for thieves. Cybercriminals may breach into sites for trading cryptocurrencies and steal money. Cryptocurrency is currently the most widely used payment method in the event of a ransomware attack. Cryptocurrency is currently the most widely used payment method in the event of a ransomware attack. It comes in various shapes, such as ransomware and email fraud. Email remained the primary entry point in 96% of the reviewed breaches, accounting for 93%.Social attacks are roughly three times more likely to cause breaches in businesses than physical vulnerabilities, highlighting the importance of regular staff cybersecurity training. It has caused the business to start researching ransomware defenses and has significantly increased demand for these defenses in the market under investigation. Around the world, there are more data leaks and other security breaches. Phishing attacks have been used against numerous businesses from various industries at some point. They impact security systems because several offline surveillance systems result in loss. Massive data loss differs greatly from typical IT failures. Security against ransomware lowers the likelihood that an attack will succeed, shortens the recovery window for businesses, and eliminates the possibility of an extended business shutdown.Thus, driving the Ransomware Protection market revenue.
The Ransomware Protection market segmentation, based on solution, includes standalone anti-ransomware software, end-point security, network security, and secure web gateways. The end-point security segment dominated the market, accounting for 35% of market revenue. End-point protection is a technique for securing computer networks that are remotely connected to client devices. Laptops, tablets, cellphones, Internet-of-things devices, and other wireless devices connected to business networks open attack pathways for security risks. End-point protection guarantees that these devices comply to a certain degree with standards.
The Ransomware Protection market segmentation, based on service, includes managed, consulting and support & management. The managed segment dominated the market. To purportedly improve operations and lower budgetary expenses by eliminating direct-employed people, managed services are the practice of outsourcing the obligation for upkeep and foreseeing the requirement for various processes and tasks. Small and medium-sized businesses (SMEs) look to third parties as managed security service providers for better cybersecurity operations.
Based on industry verticals, the Ransomware Protection market segmentation includes BFSI, IT & Telecom, Healthcare, Education, Manufacturing, and Retail. The BFSI category generated the most income. The BFSI vertical represents the range of financial services and products businesses provide to their clients. Commercial banks, credit unions, insurance firms, exchanges, cooperative organizations, investment trusts, pension funds, and other financial organizations with a similar structure are among them. The banking sector has always been a popular target for cybercriminals because of how much money it generates. The use of Bitcoin has increased ransomware attacks in this industry. For the banking and financial services sector, FireEye, Trend Micro, Sophos, and Intel Security are some of the top vendors of ransomware defense systems.
Figure 2: Ransomware Protection Market, by Industry Verticals, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Ransomware Protection market will dominate due to the significant number of cybersecurity vendors present here. These businesses mostly provide cutting-edge ransomware security solutions.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: RANSOMWARE PROTECTION MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Ransomware Protection market accounts for the second-largest market share. The expansion in the area is due to e-commerce's expanding market share and increased reliance on online purchases and services. Further, the German Ransomware Protection market held the largest market share, and The European region's fastest-growing market was the UK's Ransomware Protection market.
The Asia-Pacific Ransomware Protection Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing economies of China, India, and Australia spending extensively on cyber security solutions; Asia Pacific is also predicted to have growth potential in the ransomware prevention market. Moreover, China's Ransomware Protection market held the largest market share, and The Asia-Pacific region's fastest-growing market for ransomware protection was India.
Leading market companies are making significant R&D investments to diversify their product offerings, which will drive the Ransomware Protection market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The market for Ransomware Protection industry is becoming more competitive. Therefore, it needs to offer reasonably priced products to grow and thrive.
Manufacturing locally to reduce operating costs is one of the primary business strategies manufacturers employ in the worldwide Ransomware Protection industry to assist customers and expand the market sector. The market for Ransomware Protection industry has recently provided some of the most important benefits. Major players in the Ransomware Protection market, including AT&T Cybersecurity, CrowdStrike, and others, are attempting to increase market demand by investing in research and development operations.
AT&T Cybersecurity provides computer and network security. The company provides edge-to-edge technology for threat intelligence and collective defense for all corporate requirements. The researchers from AT&T Alien Labs and the security operation center analysts collaborate to use and integrate the most recent technology. To remove the threat and safeguard their enterprises, machine learning offers its clients the greatest answer available. The business is making a difference by utilizing innovative internet-powered climate solutions. In April 2021, A software system that combines antivirus, endpoint protection, endpoint detection and response, and IoT security features is being developed by AT&T Cybersecurity and SentinelOne, a US-based software startup. The more recent technology will offer endpoint security against ransomware and online threats.
CrowdStrike offers software-as-a-service (SaaS) subscription-based endpoint and cloud workload protection solutions delivered over the cloud. The company provides integrated solutions that deliver protection and performance while lowering consumer complexity through the Falcon platform, offered in a subscription-based SaaS. With integrated cloud modules spanning multiple security markets, information technology (IT) operations management, security and vulnerability management, managed security services, threat intelligence services, identity protection, and log management, its Falcon platform uses a single lightweight-agent architecture to address a variety of security markets. In June 2021, To battle ransomware and hasten zero trust, CrowdStrike and EY have joined up to offer combined cyber products. The alliance's growth brings new collaborative products, including Ransomware Readiness and Resilience, Incident Response (IR), Recovery and Remediation, and the acceleration of Zero Trust capabilities and expansion into new geographic areas.
Microsoft Corporation (U.S.)
Sophos Ltd. (U.K)
Intel Security (McAfee) (U.S.)
Symantec Corporation (U.S.)
Kaspersky Lab (Russia)
Malware bytes Corp (U.S.)
McAfee Inc. (U.S.)
Avast Software S.R.O (Czech Republic)
Cisco System Inc.(U.S.
Palo Alto Networks Inc.(U.S.)
Sentinelone (U.S.)
Zscaler, Inc. (U.S.).
Sophos launched Sophos MDR (Managed Detection and Response) Elite in April 2024, a new service tier that comes with advanced threat-hunting and incident response capabilities.
SentinelOne had an announcement in May 2024. They have revealed Singularity XDR (Extended Detection and Response) 2.7, which comprises more security investigation capabilities and improved threat hunting.
In January 2023 – An existing alliance between chip maker Intel and cyber security company Check Point Software Technologies has been expanded to provide hardware-based protection against ransomware, one of the prevalent threats currently found in IT.
CTERA announced CTERA Ransom Protect in June 2023; this is a new AI-powered cyber protection engine integrated within the CTERA global file system that detects and blocks attacks in seconds due to activity sensors built into the filesystem feeding an advanced machine learning algorithm trained on a broad dataset of attack flows, alongside tools for immediate mitigation and recovery.
During KubeCon + CloudNativeCon North America in November 2023, Veeam, the Kubernetes data protection provider, announced the New Kasten K10 V6.5 platform for Kubernetes. The company now offers ransomware protection advances enabling integrations with SIEM.
Zscaler, Inc., meanwhile, declared in September 2023 that it was partnering with CrowdStrike as well as Imprivata to put together a zero-trust cybersecurity solution designed for healthcare providers. The latest Zscaler integration with the Imprivata Digital Identity Platform will allow companies to attain regulatory compliance by providing visibility, threat protection, and traceability for end-to-end multi-user shared device access control.
McAfee Corp., a worldwide leader in online security, on the other hand, announced their expanded relationship with Visa in July of 2022, where Visa Business card partners based in the UK would be able to offer unbeatable online security solutions provided by them.
AVG Antivirus FREE bagged VG’s Outstanding Product Award in January 2022, a consumer cyber security company. The appraisal was from AV-Comparatives, an objective test organization for performing regular security software examinations. At the end of each year, AV-Comparatives publishes a Summary Report to recognize those products that have achieved the best scores in their Consumer Main Series Tests over the year.
Standalone Anti-Ransomware Software
End-Point Security
Network Security
Secure Web Gateways
Managed
Consulting
Support & Management
BFSI
IT & Telecom
Healthcare
Education
Manufacturing
Retail
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Middle East
Africa
Latin America
| Attribute/Metric | Details |
| Market Size 2023 | USD 27.7 Billion |
| Market Size 2024 | USD 32.24 Billion |
| Market Size 2032 | USD 93.35 Billion |
| Compound Annual Growth Rate (CAGR) | 14.21% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Microsoft Corporation (U.S.), Sophos Ltd. (U.K), Intel Security (McAfee) (U.S.), Symantec Corporation (U.S.), Kaspersky Lab (Russia), Malware bytes Corp (U.S.), McAfee Inc. (U.S.), Avast Software S.R.O (Czech Republic), Cisco System Inc.(U.S.), Palo Alto Networks Inc.(U.S.), Sentinelone (U.S.), Zscaler, Inc. (U.S.) |
| Key Market Opportunities | Asia Pacific is also foreseen to show growth opportunities in the ransomware protection market owing to the emerging economies including China, India, and Australia heavily spending for cyber security solutions. |
| Key Market Dynamics | Threat intelligence resolution is widely preferred and used to prevent cyber threat |
Frequently Asked Questions (FAQ) :
The Ransomware Protection market size was valued at USD 27.7 Billion in 2023.
The market is projected to grow at a CAGR of 14.21% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Microsoft Corporation (U.S.), Sophos Ltd. (U.K), Intel Security (McAfee) (U.S.), Symantec Corporation (U.S.), Kaspersky Lab (Russia).
The End-Point Security dominated the market in 2022.
The BFSI had the largest share in the market.
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Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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