03-14-2019 08:58 PM CET - IT, New Media & Software

Ransomware Protection Market is projected to grow to USD 24.74 billion by 2023 at a CAGR of 16.34% during the forecast period (2018 – 2023)|Key Players- INTEL SECURITY (MCAFEE), AO KASPERSKY LAB, BITDEFENDER, FIREEYE, INC., MALWAREBYTES, SENTINELONE, SO

Press release from: Market Prognosis

Market Analysis:

North America is the Market Leader
The business organizations in this region are highly targeted by the attackers to extort money. The region is home to many if the is leading players across industry verticals and has some of the biggest film & television production houses too. U.S is having the highest number of crypto currency technology users, increasing the chances of ransomware attacks. This is increasing the demand of ransomware protection solutions in the region.

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The global ransomware protection market is set to witness a significant growth rate in the near future, owing to the growing demand of ransomware protection in recent years as a service. Moreover, the industry is influenced by technological developments and has seen the advent of ransomware protection solutions for mobile devices too, apart from PCs. The increasing number of attacks is expected to drive the ransomware protection market. The attackers target the databases and business grid systems through phishing campaigns or malwares of big organizations so that the payoffs can be higher. The cloud-based solutions are anticipated to have a high growth potential, as it is a nascent solution for the market and due to its increasing adoption among organizations. This method is considered more flexible, agile, and adaptive to update the security protocols of a company. These factors are expected to carry the market forward.

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Market Segments:
Ransomware Protection Market is segmented by:
1. Deployment: On-Premise, On-Cloud
2. Application: Endpoint Protection, Email Protection, Network Security, Data Protection, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
•May 2017 - McAfee launched a new tool called Ransomware Interceptor. It is an early detector tool that prevents file encryption attempts by ransomware malware. The tool uses machine learning and heuristics to identify such malware. It later launched an updated version, which was having WannaCry ransomware malware infections detection

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About Market Prognosis:
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This release was published on openPR.
News-ID: 1655428 • Views: 265
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