How Has The Ransomware Protection Market Size Evolved In Recent Years?
The ransomware protection market has seen considerable growth due to a variety of factors.
•There has been a swift expansion in the size of the ransomware protection market in the past few years. The market is projected to escalate from $24.54 billion in 2024 to $28.69 billion in 2025, maintaining a compound annual growth rate (CAGR) of 16.9%.
The notable growth during the historical period can be linked to a rise in internet connectivity, increased online transactions, the growing utilization of digital equipment, the surge in cybersecurity threats, and the onset of ransomware attacks.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Ransomware Protection Market?
The ransomware protection market is expected to maintain its strong growth trajectory in upcoming years.
• The market for ransomware protection is predicted to experience swift expansion in the coming years. By 2029, it is projected to reach $54.82 billion, with a compound annual growth rate (CAGR) of 17.6%.
Factors contributing to this rise during the forecast period include increased sophistication of ransomware attacks, a higher usage of cloud services, a heightened understanding of cybersecurity threats, regulatory demands for data protection, and the widening of work-from-home setups. Noteworthy trends for the forecast period encompass the incorporation of artificial intelligence in ransomware protection, security solutions based on blockchain, the creation of automated systems for incident response, a growing need for threat intelligence sharing platforms and an accentuated focus on user training and awareness.
Which Key Drivers Are Propelling The Ransomware Protection Market's Growth?
The ransomware protection market is anticipated to experience substantial growth due to the increasing incidences of phishing attacks. Phishing, an often-used social engineering attack technique, is used to garner user's information such as login details and credit card information. The role of ransomware protection is to thwart these phishing attacks by identifying and inhibiting harmful emails, training users to spot phishing attempts, and halting ransomware infections before they can encrypt data and system. For example, the Anti-Phishing Working Group, a US-based consortium dedicated to combat fraud and identity theft arising from phishing and related issues, reported in June 2022 a total of 1,025,968 phishing attacks in the first quarter of 2022. This marks a 15% increase from the 888,585 attacks recorded in the final quarter of 2021. As such, the escalating trend of phishing attacks is a significant contributor to the expansion of the ransomware protection market.
What Are The Key Segments Within The Global Ransomware Protection Market?
The ransomware protection market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: Cloud, On-premise
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Application: Endpoint Protection, Network Protection, Database Protection, Web Protection, Email Protection
5) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecom, Government And Defense, Retail, Education, Healthcare And Lifesciences, Other Industry Verticals
Subsegments:
1) By Solution: Endpoint Protection, Network Security, Data Backup And Recovery Solutions, Threat Intelligence Platforms, Incident Response Solutions
2) By Services: Consulting Services, Managed Security Services, Training And Awareness Programs, Incident Response Services
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How Are New Trends Impacting The Size Of The Ransomware Protection Market?
Advancements in technology are emerging as a significant trend in the ransomware protection market. Companies at the forefront of the ransomware protection market are harnessing these advancements to introduce innovative techniques and solidify their market standing. For instance, Thales Group, an IT company based in France, introduced the CipherTrust Transparent Encryption Ransomware Protection (CTE-RWP) platform in April 2023. This platform equips users with protection from ransomware attacks by monitoring the file system and detecting, marking, or halting unauthorized encryption and data egress. The CTE-RWP allows creating trusted lists for critical applications and stationing guard points to identify or halt any attempts to encrypt or exfiltrate data. Furthermore, it provides a real-time analysis of user system programs and protocols, ensuring secure and easy interaction with files and directories for customers.
Who Are the Key Players in the Ransomware Protection Market?
Major companies operating in the ransomware protection market include:
• Microsoft Corporation
• Intel Corporation
• International Business Machines (IBM) Corporation
• Cisco System Inc.
• Broadcom Inc.
• Palo Alto Networks Inc.
• W314Fortinet Inc.
• Gen Digital Inc.
• Check Point Software Technologies
• McAfee LLC
• Trend Micro Inc.
• CrowdStrike Holdings Inc.
• Zscaler Inc.
• FireEye Inc.
• Avast Antivirus
• Kaspersky Lab
• Proofpoint Inc.
• CyberArk Software Ltd.
• ESET s.r.o.
• Ivanti
• Barracuda Networks Inc.
• Bitdefender SRL
• Acronis International GmbH
• SonicWall
• Webroot Inc.
• SentinelOne Inc.
• Malwarebytes Inc.
• F-Secure Corporation
• Cybereason
What are the Regional Insights into the Ransomware Protection Market?
North America was the largest region in the ransomware protection market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ransomware protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
