The global ransomware protection market revenue was around US$ 17.1 billion in 2022 and is estimated to reach US$ 83.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 20.2% during the forecast period from 2023 to 2031.
Ransomware is a kind of crypto virology malware that risks permanently unlocking or preventing access to victim details if a ransom is not paid. While some simple ransomware can encrypt files and make them inaccessible, more cutting-edge software utilizes a tactic, that encrypts data and renders them unavailable, then demands ransom payments to recover them.
Market Driving Factors
Immediate digitization in businesses is estimated to drive market growth. This is because organizations are depending on a wave of digital transformation to help the transition to remote working. Many have been impacted by major safety concerns that have emerged. In addition, digital transformation has been assisting organizations become cost-effective, more agile, and productive for years. As a result, the pandemic has led to the adoption of remote work mechanisms by various companies on a large scale, which is useful to contain the virus spread but, in turn, raises the risk of cyberattacks, resulting in fast application of ransomware protection solutions by different companies and organizations.
Increasing demand for ransomware protection is propelling the market growth. This is mainly owing to the untraceable nature of cryptocurrencies like Ethereum and Bitcoin. As a result, their introduction improved the requirement for ransomware prevention tools.
The scarcity of awareness is a major constraint in the ransomware protection market.
Regional Analysis
North America dominated the market in terms of the largest shares and is expected to maintain its dominance. This can be majorly attributed to the surge in the usage of ransomware protection in healthcare and other sectors to protect data from breaches and enhance operations. Thus, customer experience is anticipated to provide lucrative prospects for market growth.
Asia-Pacific is estimated to dominate the market in terms of the highest growth during the projection period. This is primarily owing to the robust information technology (IT) infrastructure and solid services and software offerings. Additionally, the surge in penetration of cloud-based offerings and the rise in demand for ransomware protection in BFSI, healthcare, and government sectors for safety purposes propel the market growth in the region.
Segmentation Insights
Deployment Mode Insight
The on-premise segment dominated the market in terms of the largest shares. This can be majorly attributed to the several benefits offered by this on-premise deployment such as a high level of data protection and security. Furthermore, companies prefer an on-premise model, due to high data security and low data breach as compared to cloud-based deployment models, which also propel the demand for on-premise deployment models within the private and public sectors.
The cloud segment is estimated to dominate the market in terms of the highest growth. This is because increase in the adoption of cloud-based ransomware protection, owing to less price and easier maintenance. Additionally, it offers scalability and flexibility to facilitate business processes, which drives market growth.
Organization Size Insight
The large enterprises segment is estimated to dominate the market in terms of revenue. This is mainly owing to the surge in the adoption of ransomware protection in large enterprises to operate a company operation securely and safely. Furthermore, large enterprises are integrating their large volume of data in the cloud to increase their accuracy, speed, and value chain scalability, which is opportunistic for market expansion.
The SME’s segment is estimated to dominate the market in terms of the largest shares. This is mainly owing to the surge in optimizing the business abilities of small & medium-sized enterprises. Furthermore, a continuous increase in the number of government initiatives via different digital SME campaigns throughout the world drives market expansion.
Component Insight
The solution segment is predicted to dominate the market in terms of the growth rate. This is majorly owing to the adoption of ransomware protection solutions providing substantial benefits that can enhance how to detect and react to cyber incidents. Additionally, it not only aids in improving cybersecurity, but it can also save money, time, and resources, which drives market growth.
The services segment is anticipated to dominate the market in terms of the highest growth. This is mainly owing to the various elements such as a surge in competition in businesses, user requirements, cyber hazards, and project risks surge the adoption of ransomware protection services.
Industry Vertical Insight
The IT & telecom segment is expected to dominate the market in terms of the largest share. This is primarily due to the surge in the use of mobile devices among people and provides different possibilities to the industry.
Prominent Companies
Segmentation Outline
The global ransomware protection market segmentation focuses on the Deployment Mode, Organization Size, Component, Application, Industry Vertical, and Region.
By Deployment Mode
By Organization Size
By Component
By Application
By Industry Vertical
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL RANSOMWARE PROTECTION MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: RANSOMWARE PROTECTION MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL RANSOMWARE PROTECTION MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL RANSOMWARE PROTECTION MARKET, BY DEPLOYMENT MODE
5.1 OVERVIEW
5.2 ON-PREMISE
5.3 CLOUD
6 GLOBAL RANSOMWARE PROTECTION MARKET, BY ORGANIZATION SIZE
6.1 OVERVIEW
6.2 LARGE ENTERPRISES
6.3 SME'S
7 GLOBAL RANSOMWARE PROTECTION MARKET, BY COMPONENT
7.1 OVERVIEW
7.2 SOLUTION
7.3 SERVICES
8 GLOBAL RANSOMWARE PROTECTION MARKET, BY APPLICATION
8.1 OVERVIEW
8.2 NETWORK PROTECTION
8.3 ENDPOINT PROTECTION
8.4 EMAIL PROTECTION
8.5 DATABASE PROTECTION
8.6 WEB PROTECTION
9 GLOBAL RANSOMWARE PROTECTION MARKET, BY INDUSTRY VERTICAL
9.1 OVERVIEW
9.2 GOVERNMENT AND DEFENSE
9.3 IT AND TELECOM
9.4 BFSI
9.5 RETAIL
9.6 HEALTHCARE
9.7 EDUCATION
9.8 OTHERS
10 GLOBAL RANSOMWARE PROTECTION MARKET, BY GEOGRAPHY
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA MARKET SNAPSHOT
10.2.2 U.S.
10.2.3 CANADA
10.2.4 MEXICO
10.3 EUROPE
10.3.1 EUROPE MARKET SNAPSHOT
10.3.2 WESTERN EUROPE
10.3.2.1 THE UK
10.3.2.2 GERMANY
10.3.2.3 FRANCE
10.3.2.4 ITALY
10.3.2.5 SPAIN
10.3.2.6 REST OF WESTERN EUROPE
10.3.3 EASTERN EUROPE
10.3.3.1 POLAND
10.3.3.2 RUSSIA
10.3.3.3 REST OF EASTERN EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC MARKET SNAPSHOT
10.4.2 CHINA
10.4.3 JAPAN
10.4.4 INDIA
10.4.5 AUSTRALIA & NEW ZEALAND
10.4.6 ASEAN
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
10.5.2 UAE
10.5.3 SAUDI ARABIA
10.5.4 SOUTH AFRICA
10.5.5 REST OF MEA
10.6 SOUTH AMERICA
10.6.1 SOUTH AMERICA MARKET SNAPSHOT
10.6.2 BRAZIL
10.6.3 ARGENTINA
10.6.4 REST OF SOUTH AMERICA
11 GLOBAL RANSOMWARE PROTECTION MARKET COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPANY MARKET RANKING
11.3 KEY DEVELOPMENT STRATEGIES
11.4 COMPETITIVE DASHBOARD
11.5 PRODUCT MAPPING
11.6 TOP PLAYER POSITIONING, 2022
11.7 COMPETITIVE HEATMAP
11.8 TOP WINNING STRATEGIES
12 COMPANY PROFILES
12.1 BITDEFENDER
12.1.1 OVERVIEW
12.1.2 FINANCIAL PERFORMANCE
12.1.3 PRODUCT OUTLOOK
12.1.4 KEY DEVELOPMENTS
12.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.2 SENTINELONE
12.2.1 OVERVIEW
12.2.2 FINANCIAL PERFORMANCE
12.2.3 PRODUCT OUTLOOK
12.2.4 KEY DEVELOPMENTS
12.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.3 MALWAREBYTES
12.3.1 OVERVIEW
12.3.2 FINANCIAL PERFORMANCE
12.3.3 PRODUCT OUTLOOK
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.4 ZSCALER
12.4.1 OVERVIEW
12.4.2 FINANCIAL PERFORMANCE
12.4.3 PRODUCT OUTLOOK
12.4.4 KEY DEVELOPMENTS
12.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.5 SOPHOS
12.5.1 OVERVIEW
12.5.2 FINANCIAL PERFORMANCE
12.5.3 PRODUCT OUTLOOK
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.6 INTEL SECURITY
12.6.1 OVERVIEW
12.6.2 FINANCIAL PERFORMANCE
12.6.3 PRODUCT OUTLOOK
12.6.4 KEY DEVELOPMENTS
12.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.7 FIREEYE
12.7.1 OVERVIEW
12.7.2 FINANCIAL PERFORMANCE
12.7.3 PRODUCT OUTLOOK
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.8 KASPERSKY LAB
12.8.1 OVERVIEW
12.8.2 FINANCIAL PERFORMANCE
12.8.3 PRODUCT OUTLOOK
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.9 SYMANTEC CORPORATION
12.9.1 OVERVIEW
12.9.2 FINANCIAL PERFORMANCE
12.9.3 PRODUCT OUTLOOK
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.10 TREND MICRO
12.10.1 OVERVIEW
12.10.2 FINANCIAL PERFORMANCE
12.10.3 PRODUCT OUTLOOK
12.10.4 KEY DEVELOPMENTS
12.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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