Ransomware attacks have touched a new high in the 21st century and affected governments, corporates, and even the average citizen. Few are able to recover from this sustained attack to their confidential data in the event of a hit. Conventional firewalls and anti-virus software has been largely ineffective and only specialized ransomware protection software can offer a shield from this scourge. In a new report titled ‘Ransomware Protection Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)’ Persistence Market Research forecasts the global ransomware protection market to be worth just under US$ 33 Bn by end 2025 – recording a CAGR of 15.9% in terms of value.
Global Ransomware Protection Market: Segmentation & Forecast
The global ransomware protection market is segmented on the basis of Component into Solution (End Point Security Solution, Network Security Solution) and Service (Consulting Service, Support and Management Services); on the basis of End User into Commercial and Residential; on the basis of Deployment into Cloud and On-Premise; and on the basis of Region into North America, Latin America, Europe, APAC, and MEA.
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By Component, the Solution segment is anticipated to reach a market value in excess of US$ 26 Bn by the end of 2025, registering a CAGR of 16.0% during the forecast period. This segment will represent incremental opportunity of US$ 18,549.9 Mn between 2017 and 2025
By End User, the Commercial segment is expected to be the most attractive segment and is estimated to increase 3.4x between 2017 & 2025, reaching a market value of more than US$ 25 Bn by the end of 2025
In the Deployment category, the Cloud segment is estimated to register a CAGR of 17.7 % from 2017–2025 and be valued at about US$ 13.5 Bn by the end of the forecast period in 2025
Among the assessed Regions, North America is expected to register steady increase in Y-o-Y growth rates throughout the forecast period. The North America ransomware protection market is estimated to be valued at about US$ 4 Bn by the end of 2017 and this is expected to increase to about US$ 11.3 Bn by the end of 2025, witnessing a CAGR of 13.9%
Global Ransomware Protection Market: Competition Dashboard
Persistence Market Research has profiled the most prominent companies active in the global ransomware protection market. Companies featured in the report include Bitdefender, Check Point Software Technologies, Alien Vault, Barracuda Networks, Webroot, Zemana, Palo Alto Networks, Cisco System, Avast Software, McAfee, Malwarebytes, Kaspersky Lab, Symantec Corporation, Trend Micro Incorporated, Sophos, and Microsoft Corporation.
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Key Insights to be Gleaned from the Ransomware Protection Market
Ransomware is a menace that needs to be tackled with a truly proactive, global approach. Latin America and Europe seem to be taking the lead in this and key players in the ransomware protection market should target countries such as the U.K, Brazil, Mexico, and the Netherlands as the growth rates are quite high there. In addition to private players, even the governments of these countries have become well-aware of the threat ransomware poses and they have made it a priority to develop advanced techniques to keep this pressing challenge at bay. Solution providers must enhance their product offerings as hackers are always trying to breach existing defenses, making constant vigilance the best option in the ransomware protection market.