Market Highlights
The global ransomware protection market 2020 has a higher possibility to progress at a decent rate of 15% over the forecast period (2017 to 2023), as per the latest study conducted by Market Research Future (MRFR) expects.
Major Market Players
The top market players in the global Ransomware Protection market are listed as McAfee Inc. (U.S.), Cisco System Inc.(U.S.), Sophos Ltd. (U.K), Avast Software S.R.O (Czech Republic), Microsoft Corporation (U.S.), (U.S.), Sentinelone (U.S.), Symantec Corporation (U.S.), Intel Security (McAfee) Malware bytes Corp (U.S.), Kaspersky Lab (Russia), Palo Alto Networks Inc.(U.S.), Zscaler, Inc. (U.S.).
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Market Drivers and Key Barriers
Over the years, ransomware protection has witnessed a steep rise in support of it functionality, leading to a favorable environment it offers. In general, ransomware protection provides security against software that prevents users from reaching their most confidential data or threatens to for private data public unless a ransom is given for the same. Since, ransomware protection is an important component for the data users, thus the rising demand for it has facilitated the market to a great level in terms of growth. Renowned technology giant Microsoft introduces new Windows Defender Exploit Guard update in Windows 10 Fall Creators. It characteristic such as controlled folder access, curbs ransomware in its tracks by restraining illegal access to valuable user files. Such development has made the market more valuable than previous years resulting in substantial growth over the forecast period.
Ransomware being the most prominent and dangerous cyber threat, is mainly installed on the computer systems either by enciphering the data or by locking the system unless a ransom is paid. Therefore, in regard to guard the systems and improve the security, the some of the top companies have made high investments, especially for enabling network, securing the data, and endpoints from several advanced cyber threats and crypto malware, which also include ransomware. All these factors have thus influenced the market to expand its worth in the coming years.
The ransomware protection market can note tremendous growth in the near future owing to prevent cyber threat. This has created a vast demand in various organizations. They are predominantly utilizing threat intelligence resolutions to fight multiple advanced cyber threat and ransomware threat, due of the factor of being reliable resolution. Eventually, this helps in reducing cyber threats that are based on security intelligence support and security event to determine business risks. All such factors are foreseen to boost the ransomware protection market in the upcoming years.
Market Segmentation: Ransomware Protection
The market for ransomware protection globally has been dissected depending on solution, services, and applications segments.
The market based on a solution segment includes end-point security solution, application control, standalone anti-ransomware software, secure web gateways, network security solution, and others.
The market based on the service segment includes consulting services, managed services, and support & management services.
The market based on application segment includes endpoint protection, web protection, and database protection.
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Regional Outlook
Europe, Asia Pacific, the Middle East and Africa (MEA), as well as North America, are the prime regions across upon which ransomware protection market has been studied during the evaluation period.
The region of North America is one of the most influential regions and ruling the market immense growth in the ransomware protection market. Such a growth is attributed to the incidence of a large number of merchants of cyber security. These merchants generally offer high pioneering ransomware security solutions, which is making the market more valuable than before.
Asia Pacific is also ready to present massive growth opportunities in the ransomware protection market owing to the evolving economies such as China, India, and Australia. These countries are heavily spending for cyber security solutions, resulting in the market hype to a high level.
APAC region is expected to rise at the highest CAGR throughout the projection period. Due to the high-security solutions investment in the area by enterprises in major nations such as China, India, Japan, Australia, Singapore, for ransomware protection. Moreover, North America is foreseen to have the biggest market size in 2016, as they are the initial adopters of the security technologies.
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