Ransomware Protection Market Trends, Growth, Future Demand, Analysis by 2023Posted by Akshay Solanki on January 22nd, 2021 The global ransomware protection market is projected to reach USD 20 billion at a CAGR of over 15% by the end of the forecast period 2017-2023.
Ransomware threat encountered by an organization is anticipated to grow in the nowadays because of hackers. Therefore, there is a scramble amongst major players in the global ransomware protection market to give better end-to-end resolutions to their consumers. As an organization companies cannot afford to lose their essential and classified data under any situation by hackers. Corporations need ransomware protection solutions software to cater to their developing requirements, and some of the most important stakeholders in the global ransomware protection market are Symantec, Microsoft, Cisco, McAfee, and Bitdefender.
Ransomware protection market has been divided into four geographic regions in our study, North America, Europe, Asia Pacific, and the Rest of World. Every region has a dedicated share in the ransomware protection report where we look at local drivers, restraints, opportunities, and threats and their impact. The traditional market size of the major countries in various regions has been analyzed and compared with their projected growth.
The U.S and Canada are foreseen to drive the growth of the North American market of ransomware protection, owing to the presence of a large number of established key players such as Microsoft Corporation (U.S.), Intel Security (McAfee) (U.S.), Symantec Corporation (U.S.), in the region. In extension to this private player, even the governments are well-aware about the threat ransomware shows, and they made it a priority to produce superior techniques to keep this away. Solutions provider must improve their product quality they are offerings as hackers were always trying to break existing defenses, making continuous attention the best option for the ransomware protection.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Ransomware protection Market Research Report-Forecast to 2023”.
Ransomware protection Market Segmentation:
The global ransomware protection market is segmented by the solution, services, and applications. based on a solution, the global market is divided into standalone anti-ransomware software, end-point security solution, network security solution, secure web gateways, application control, and others. Secure web gateways solution is expected to contribute the highest market size in 2016, as it protects the networks from user-initiated web traffic and strengthens strong corporation policies. Moreover, network security solution is expected to rise at the highest CAGR during the projection period, as it gives a real-time knowledge of advanced cyber threats, their detection, investigation, and predictive remediation.
Some of the major players in the global Ransomware Protection market: 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.), and others.
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Market Research Analysis:
North America market is expected to estimate for the highest share in the market. Asia Pacific market is forecasted to grow at the largest rate during the forecast period. Asia Pacific is expected to show the immense growth opportunities, prominently, in China and India. SMEs and big organizations are rapidly increasing their partnership chains to expand the ransomware protection solutions across the region. Thus, managed services segment is foreseen to grow at the highest CAGR throughout the forecast period in the area. However, consulting services segment is supposed to have the biggest market size in 2016.
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