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Ransomware Protection Market Size, Growth, Drivers, Challenges, Opportunities, Shares And Forecast Analysis By 2033
Ransomware Protection Market Size
As per the report, the ransomware protection market size 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 ransomware protection market size is expected to see rapid growth in the next few years. It will grow to $46.12 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%.
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Escalating Phishing Attacks Fuel Growth In The Ransomware Protection Market
Rising phishing attacks are expected to propel the growth of the ransomware protection market going forward. Phishing is a social engineering attack frequently used to acquire user information, such as login credentials and credit card details. Ransomware protection helps prevent phishing attacks by detecting and blocking malicious emails, educating users to identify phishing attempts, and stopping ransomware infections before they can encrypt data and systems. For instance, in June 2022, according to the Anti-Phishing Working Group, a US-based consortium that aims to eliminate fraud and identity theft caused by phishing and related incidents, in the first quarter of 2022, the Anti-Phishing Working Group recorded a total of 1,025,968 phishing attacks, a 15% rise from 888,585 attacks in the fourth quarter of 2021. Therefore, rising phishing attacks are driving the growth of the ransomware protection market.
Pioneering Technological Advancements In The Ransomware Protection Market
Technological advancements are a key trend gaining popularity in the ransomware protection market. Major companies operating in the ransomware protection market are developing innovative technologies to sustain their position in the market. For instance, in April 2023, Thales Group, a France-based information technology company, launched the CipherTrust Transparent Encryption Ransomware Protection (CTE-RWP) platform. This technology assists in the protection against ransomware attacks by tracking the file system and identifying, flagging, or stopping unlawful encryption and data exfiltration. CTE-RWP supports setting up trusted lists for critical applications and allocating guard points to spot or stop processes attempting to encrypt or steal data. It offers real-time behavioral analysis for user system programs and procedures so that customers can use and interact with their files and folders securely and conveniently.
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
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Major companies operating in the ransomware protection market report are 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
Contents of the report:
1. Executive Summary
2. Ransomware Protection Market Report Structure
3. Ransomware Protection Market Trends And Strategies
4. Ransomware Protection Market - Macro Economic Scenario
5. Ransomware Protection Market Size And Growth
…..
27. Ransomware Protection Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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