Ransomware Protection Market Generating Revenue of $82.92 Billion by 2031

According to a new report published by Allied Market Research, titled, "Ransomware Protection Market," The ransomware protection market was valued at $17.32 billion in 2021, and is estimated to reach $82.92 billion by 2031, growing at a CAGR of 17.1% from 2022 to 2031.

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The global ransomware protection market is expected to grow at a high rate due to rise in ransomware attacks in recent years. The introduction of cryptocurrencies such as Bitcoin and Etherium has boosted the +demand for ransomware protection solutions, as ransoms are paid in cryptocurrency due to its untraceable nature. Furthermore, technical advancements in the field of cyber-security, antivirus, malware protection have had an impact on the market, which would create the need for ransomware protection solutions for mobile devices.

Thus, drive the growth of the market. In addition, industries are shifting businesses over cloud, as the popularity of cloud-based operations is growing significantly. Multiple technologies are publicly available that allow ransomware attackers to locate misconfigured cloud infrastructure on the internet. As a result, it is critical for businesses to implement multilayer security solutions. Furthermore, robust ransomware protection is critical in dealing with such issues.

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This report gives an in-depth profile of some key market players in the ransomware protection market, include Bitdefender, Cisco systems Inc., Intel Corporation, Kaspersky Lab, MacAfee LLC, Microsoft corporation, SentinelOne, Sophos Group PLC, Symantec corporation, and Trend micro incorporated.

On the basis of organization size, the large enterprises dominated the overall ransomware protection industry in 2021 and is expected to continue this trend during the forecast period. There is an increase in the adoption of ransomware protection in large enterprises to operate a business operation safely and securely.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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