Ransomware Protection Market Research Report - Global Forecast to 2032

Ransomware Protection Market Research Report Information By Solution (Standalone Anti-Ransomware Software, End-Point Security, Network Security, and Secure Web Gateways), by Service (Managed, Consulting, Support & Management), by Industry Verticals (BFSI, IT & Telecom, Healthcare, Education, Manufacturing, and Retail) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

ID: MRFR/ICT/3466-HCR | 100 Pages | Author: Shubham Munde | March 2024         

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Ransomware Protection Market Overview

Ransomware Protection Market Size was valued at USD 23.8 Billion in 2022. The Ransomware Protection market industry is projected to grow from USD 27.70 Billion in 2023 to USD 93.35 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.40% during the forecast period (2023 - 2032).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.

Ransomware Protection Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Ransomware Protection Market Trends

Growing ransomware protection is driving the market growth

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.

Ransomware Protection Market Segment Insights

Ransomware Protection Solution Insights

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.

Ransomware Protection Service Insights

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.

Ransomware Protection Industry Verticals Insights

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 1: Ransomware Protection Market, by Industry Verticals, 2022 & 2032 (USD Billion)

Ransomware Protection Market

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Ransomware Protection Regional Insights

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.



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.

Ransomware Protection Key Market Players & Competitive Insights

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.

Key Companies in the Ransomware Protection market include

  • 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.).

Ransomware Protection Industry Developments

June 2022: Trend Micro unveiled Trend Micro One, a comprehensive security platform with unified cybersecurity. The platform offers continuous threat and lifecycle assessment, reaction, and threat mitigation.

May 2022: In a project to create MITRE ATT&CK, a cyber-adversary behavior framework that reflects the many stages of an adversary's attack lifecycle and the platforms they are known to target, Microsoft, the Centre for Threat-Informed Defence, and other industry partners worked together. The project aims to support defenders who utilize the framework to concentrate on certain approaches regardless of the surroundings or attack situation.

Ransomware Protection Market Segmentation

Ransomware Protection Solution Outlook

  • Standalone Anti-Ransomware Software

  • End-Point Security

  • Network Security

  • Secure Web Gateways

Ransomware Protection Service Outlook

  • Managed

  • Consulting

  • Support & Management

Ransomware Protection Industry Verticals Outlook

  • BFSI

  • IT & Telecom

  • Healthcare

  • Education

  • Manufacturing

  • Retail

Ransomware Protection Regional Outlook

  • North America

  • US

  • Canada

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 23.8 Billion
Market Size 2023 USD 27.70 Billion
Market Size 2032 USD 93.35 Billion
Compound Annual Growth Rate (CAGR) 16.40% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
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 23.8 Billion in 2022.

The market is projected to grow at a CAGR of 16.40% during the forecast period, 2023-2032.

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.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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