The surge in demand for ransomware protection in healthcare, BFSI, and government sectors for security purposes drives the market growth in APAC region. PORTLAND, PORTLAND, OR, UNITED STATES, December 12, 2023 /EINPresswire.com/ — A recently released report by Allied Market Research titled “Ransomware Protection Market” reveals that the ransomware protection market, valued at $17.32 billion in 2021, is anticipated to reach $82.92 billion by 2031, experiencing a robust CAGR of 17.1% from 2022 to 2031. Ransomware constitutes a form of crypto virology malware designed to coerce victims into paying a ransom by threatening to permanently lock or obstruct access to their data. While basic ransomware encrypts files to render them inaccessible, more sophisticated variants employ crypto viral extortion tactics, encrypting data and demanding ransom payments for recovery. To mitigate the risk and protect both systems and data, it is imperative to implement ransomware protection measures that identify and restrict payment. These attacks commonly occur through Trojans disguised as legitimate files, often distributed through deceptive email attachments. Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/17014 The global ransomware protection market is witnessing substantial growth, primarily driven by the escalating incidents of ransomware attacks. The surge in demand for ransomware protection solutions is further fueled by the prevalence of cryptocurrencies like Bitcoin and Ethereum, commonly used for untraceable ransom payments. Technological advancements in cybersecurity, antivirus, and malware protection are contributing to the increased need for ransomware protection solutions, particularly for mobile devices. The shift of industries towards cloud-based operations is a significant factor influencing market dynamics. With the popularity of cloud-based services, there is an increased risk of ransomware attacks on misconfigured cloud infrastructure. Consequently, businesses are compelled to implement multi-layered security solutions, emphasizing the critical importance of robust ransomware protection. 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. Furthermore, large enterprises are integrating their large volume of data in the cloud to augment their speed, accuracy, and value chain scalability, which is opportunistic for the market growth. However, the SME’s is expected to witness the highest Ransomware protection market growth in the upcoming year. The adoption of ransomware protection is expected to increase to optimize the business capabilities of small & medium sized enterprises. Moreover, continuous rise in number of government initiatives through various digital SME campaigns throughout the world fuel the market’s growth. For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/17014 Depending on industry vertical, the IT & telecom sector dominated Ransomware Protection Market Share in 2021 and is expected to continue this trend during the forecast period. This is attributed to increasing use of mobile devices among individuals, thus, provides various opportunities to the industry. Furthermore, in the post COVID period, businesses are moving toward digitization and technology initiatives motivated by the global pandemic, which is expected to provide lucrative growth opportunities for the ransomware protection market in this vertical during forecast period. However, healthcare sector is expected to witness the highest growth in the upcoming year. This is attribute to increase in penetration of internet has led to significant exposure of medical devices to new cybersecurity vulnerabilities. Moreover, surge in incidence of ransomware attacks on hospitals & implanted devices and increase in data breaches and theft of sensitive data have escalated the demand for ransomware protection solutions across the healthcare sector, which is expected to offer numerous opportunities for the market growth. As of 2022, the ransomware protection market was valued at $20.04 billion, projected to reach $82.92 billion by 2031, reflecting a CAGR of 17.1%. The estimates for 2030 surpass pre-COVID-19 predictions. The pandemic expedited the adoption of advanced technologies, such as AI, automation, big data, and analytics, as organizations adapted to remote work scenarios. This accelerated digital transformation, coupled with the need to enhance cybersecurity measures, is expected to drive global market growth during the forecast period. Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/17014 The ransomware protection market trends in Asia-Pacific is expected to exhibit the highest growth during the forecast period. The region has a robust IT infrastructure and solid software and services offerings. In addition, increase in penetration of cloud-based offerings and surge in demand for ransomware protection in healthcare, BFSI, and government sectors for security purposes drive the growth of the market in this region. Furthermore, growing digitalization towards system, is expected to provide lucrative growth opportunities for the market in this region. KEY FINDINGS OF THE STUDY: • By component, the solution segment dominated the Ransomware Protection Industry in 2021. However, the services segment is expected to exhibit significant growth during the forecast period. • based on deployment mode, the on-premise segment dominated the Ransomware protection market in 2021; However, the cloud segment is expected to witness the highest growth rate during the forecast period. • Depending on organizational size, the large enterprises generated the highest revenue in 2021. However, the SMEs segment is expected to witness the highest growth rate shortly. • Depending on the industry vertical, the IT & telecom industry generated the highest revenue in 2021. However, the healthcare industry is expected to witness the highest growth rate shortly. • based on application, the endpoint protection segment dominated the Ransomware Protection Industry in 2021; However, the email protection segment is expected to witness the highest growth rate during the forecast period. • Region-wise, the ransomware protection market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years. Buy Now & Get Exclusive Discount on this Report: https://www.alliedmarketresearch.com/ransomware-protection-market/purchase-options Global Ransomware Protection Market, Key Players are 1. Bitdefender2. Fireeye, Inc.3. Intel Security (Mcafee)4. Kaspersky Lab5. Malwarebytes6. Sentinelone7. Sophos Group Plc8. Symantec Corporation9. Trend Micro, Inc.10. Zscaler, Inc.11. IT service providers12. Managed Security Service Providers13. System integrators14. Value-Added Resellers15. AO Kaspersky Lab Similar Report: 1. South Korea Ransomware Protection Market About Us: 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. AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests. 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Ransomware Protection Market Surges: Projected to Reach $82.92 Billion by 2031
