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The Ransomware Protection Market is segmented by Deployment(On-Premise, On-Cloud), Application(Endpoint Protection, Email Protection, Network Security, Data Protection), and Geography.
Fastest Growing Market:
The Ransomware Protection Market was valued at USD 11.93 billion in 2019 and is expected to reach USD 29.07 billion by 2025, at a CAGR of 16% over the forecast period 2020 - 2025. Owing to the increase in the demand for ransomware protection in recent years as a service, the global ransomware protection market is projected to witness a significant growth rate. The advent of cryptocurrencies, such as Bitcoin, Etherium, has increased the demand for ransomware protection solutions as a majority of the ransom is demanded in the form of cryptocurrency due to its untraceable nature. Moreover, the industry is impacted by technological developments and has seen the advent of ransomware protection solutions for mobile devices too, apart from PCs.
As many of the companies have been in transition to cloud services, it has created an opportunity for attackers to target any vulnerability. The ransom results in created distributed denial-of-service (DDoS) attacks until the ransom is paid or the data can be lost permanently. Recently in October 2018, Hong Kong's Cathay Pacific airlines was involved in one cyber breach incident where unauthorized access to personal details on 9.4 million passengers was accessed.
Even with the increased awareness about cyber-attacks and breaches, employees are still falling victim to social attacks. As per Verizon’s Data Breach Index Report 2018, financial pretexting and phishing represented 98% of social incidents. Among the 93% of all breaches investigated, email continued to be the main entry point (96% of such cases).
Companies are nearly three times more susceptible to suffer breach through social attacks than via actual vulnerabilities, emphasizing the need for ongoing employee cybersecurity education. It has led to the company looking towards ransomware protection solution and has provided a considerable push for the solutions demand in the studied market.
Ransomware, a malicious form of software, uses encryption to lock people out of their data. Since the inception of software, there have always been people looking to exploit people through encrypted attacks. Ransomware attaches itself to the data and prevents access until the victim pays a ransom. These result in creating a cyber hostage situation. Ransomware Solutions offered by companies to prevent any major DDOS attacks are considered under the scope of our study.
|Middle East & Africa|
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The ransomware protection market consists of several players. In terms of market share, few of the players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Number of Phishing Attacks and Targeted Security Breaches
4.3.2 Emergence of Ransomware as a Service Model
4.3.3 Use of Crypto Currencies as Payment Method
4.4 Market Restraints
4.4.1 Availability of Free Endpoint Solutions for Ransomware Protection
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Deployment
5.2 By Application
5.2.1 Endpoint Protection
5.2.2 Email Protection
5.2.3 Network Security
5.2.4 Data Protection
5.2.5 Other Applications
5.3.1 North America
5.3.4 South America
5.3.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 McAfee, LLC
6.1.2 AO Kaspersky Lab
6.1.4 FireEye, Inc.
6.1.7 Sophos Ltd.
6.1.8 Broadcom Inc. (Symantec Corporation)
6.1.9 Trend Micro Incorporated
6.1.10 Zscaler, Inc
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability