What is Ransomware Protection Market?
Ransomware is malicious software that infects the victim's computer and displays messages demanding a fee to be paid in order for the victim's system to work again. These ransomware keeps on innovating and upgrading. In April 2020, IT managed services firm Cognizant suffered a ransomware attack purportedly conducted by threat actors behind Maze ransomware, according to a report by BleepingComputer. Ransomware protection software uses a behavior-based detection that guarantees users for any strains of ransomware will be detected. This software ensures that the process of system restoration is proper and secured.
The market study is being classified by Type (Standalone anti-ransomware software and Secure web gateways), by Application (Network protection, Endpoint protection, Email protection, Database protection and Web protection) and major geographies with country level break-up.
Intel Security (United States), Symantec Corporation (United States), Trend Micro (Japan), FireEye (United States), Sophos (United Kingdom), Bitdefender (Romania), Kaspersky Lab (Russia), Malwarebytes (United States), Zscaler (United States) and SentinelOne (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations.
Segment Analysis
Analyst at AMA have segmented the market study of Global Ransomware Protection market by Type, Application and Region.
On the basis of geography, the market of Ransomware Protection has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Number of Phishing Attacks and Targeted Security Breaches
- Emergence of Ransomware-As-A-Service Model
Market Trend
- Advent of Crypto-Currencies for Ransom Payments
Restraints
- Availability of Free Endpoint Security Solutions for Ransomware Protection
Opportunities
- Organizations Looking for Multi-Layered Security Approach
- Sharing of Threat Intelligence Among Enterprises
- Rise in Demand for Data Backup and Recovery Solutions
Challenges
- Lack of Awareness Among Security Professionals About New Ransomware Families
- Rise in Average Ransom Amount
In June 2020, Intel Corp. has announced a new security capability called Control-Flow Enforcement Technology that delivers processor-level security structures to protect against common malware attack methods that have been a challenge to mitigate with software alone.
Key Target Audience
Ransomware Protection Software Developers, Emerging Companies, Research Professionals and End-users