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Global ransomware protection market

Global ransomware protection market

Dublin, June 4, 2024 (GLOBE NEWSWIRE) — The “Global Ransomware Protection Market Report 2024” report has been added ResearchAndMarkets.com offer.

The global ransomware protection market has grown rapidly in recent years. It will grow from $21.19 billion in 2023 to $25.07 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth observed over the historical period can be attributed to the increase in Internet connectivity, the growth of online transactions, the increasing use of digital devices, increasing cybersecurity threats, and the emergence of ransomware attacks.

The ransomware protection market is expected to see rapid growth in the coming years. It will grow to $46.12 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The expected growth over the forecast period can be attributed to the increasing sophistication of ransomware attacks, increased adoption of cloud services, growing awareness of cybersecurity threats, regulatory pressures on data protection, and the expansion of remote work environments. Major trends expected in the forecast period include the integration of artificial intelligence in ransomware protection, the implementation of blockchain-based security solutions, the development of automated incident response systems, the growing demand for data sharing platforms threat intelligence and a greater focus on user education. and awareness.

The expected wave of phishing attacks is set to spur the growth of the ransomware protection market in the near future. Specifically, in the first quarter of 2022, the Anti-Phishing Working Group reported a substantial increase in phishing attacks, recording a total of 1,025,968 incidents, an increase of 15% compared to the fourth quarter of 2021. This escalation of phishing attacks is a primary driver for the growth of the ransomware protection market.

The growing adoption of smartphones is expected to significantly contribute to the expansion of the ransomware protection market. In 2022, the UK saw a notable increase, with 71.8 million mobile connections, marking an increase of 3.8% compared to 2021. This trend is expected to persist, with around 95% of the UK population , approximately 65 million individuals, owning smartphones by 2022. 2025. The surge in smartphone adoption emerges as a significant driver for the growth of the ransomware protection market.

Technological advancements emerge as a major trend that is gaining traction in the ransomware protection market. Leading companies in this market are actively investing in innovative technologies to maintain a competitive advantage. In April 2023, Thales Group, a French information technology company, introduced the CipherTrust Transparent Encryption Ransomware Protection (CTE-RWP) platform. This cutting-edge technology helps protect against ransomware attacks by monitoring the file system, identifying, flagging or blocking unauthorized encryption and data exfiltration. CTE-RWP incorporates real-time behavioral analysis for user system programs, providing customers with a safe and convenient environment to use and interact with their files and folders.

Among the main companies operating in the ransomware protection market, there is a strategic focus on the introduction of innovative solutions, such as zero-day ransomware protection. In June 2023, CTERA, a US-based software company, launched CTERA Ransom Protect, an integrated zero-day ransomware protection solution that uses artificial intelligence for early detection and immediate recovery. This solution, which stands out for its reliance on advanced machine learning algorithms, quickly identifies and blocks suspicious file activity, bypassing the need for traditional signature update services. Additionally, it provides comprehensive incident evidence recording and post-attack forensic analysis, facilitating real-time attack monitoring and effective incident mitigation.

North America was the largest region in the ransomware protection market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. Regions covered in the Ransomware Protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Countries covered in the Ransomware Protection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, US, Italy, Spain, Canada.

Research scope

Markets covered:

1) By Component: Solution; Services
2) By distribution: Cloud; Headquarter
3) By size of the organization: Small and Medium Enterprises (SMEs); Big business
4) By Application: Endpoint Protection; Network protection; Database protection; Network protection; Email protection
5) By vertical sector: Banking, Financial Services and Insurance (BFSI); Information technology (IT) and telecommunications; Government and Defense; See retail; Education; Healthcare and Life Sciences; Other vertical sectors

Main companies mentioned: Microsoft Corporation; Intel Corporation; International Company for Business Machines (IBM); Cisco System Inc.; Broadcom Inc.

Time series: Five historical years and ten years of forecast

Data: Ratios of market size and growth relative to related markets, GDP proportions, per capita spending

Data segmentation: Historical and forecast national and regional data, market share of competitors, market segments

Key attributes

A selection of companies mentioned in this report include, but are not limited to:

• Microsoft Corporation

• Intel Corporation

• International Company for Business Machines (IBM).

• Cisco Systems Inc.

• Broadcom Inc.

• Palo Alto Networks Inc.

• W314Fortinet Inc.

• Gen Digital Inc.

• Check Point software technologies

• McAfee LLC

• TrendMicro Inc.

• CrowdStrike Holdings Inc.

• Zscaler Inc.

• FireEye Inc.

• Avast Antivirus

• Kaspersky Lab

• Proofpoint Inc.

• CyberArk Software Ltd.

• ESET sro

• Ivanti

• Barracuda Networks Inc.

• Bitdefender SRL

• Acronis International GmbH

• SonicWall

• Webroot Inc.

• SentinelOne Inc.

• Malwarebytes Inc.

• F-Secure Corporation

• Cybermogion

For more information on this report, visit https://www.researchandmarkets.com/r/45q1im

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