Ransomware Protection Market is projected to grow at a CAGR 14.54%

Knowledge Sourcing Intelligence announces the publication of a new report on “Ransomware Protection Market – Forecasts from 2020 to 2025” to their offering.

A malware threat that is growing like wildfire and targeting unsuspecting users ranging from home to enterprise, targeting critical data and systems for extortion has fueled the growth of Ransomware Protection Market.

According to the report, the ransomware protection market is expected to reach US$  12.875 billion by 2025, from US$ 29.072 billion in 2019.

What exactly is the rationale to integrate Ransomware Protection software in present times, globally?

The rapid emergence of this sort of cybersecurity threat has put the integrity of national networks and data at risk that is making the government and private sector agencies alike vulnerable. Further, there are even attacks that go unreported and ransoms are being paid to keep the vicious ransomware cycle alive.  For instance, in June 2020, it was reported that Honda suffers Ekans ransomware attack which had targeted its offices in the U.S., Europe, and Japan. Ekans ransomware is a variant of Snake ransomware which had disrupted operations at Fresenius Group, which is Europe's largest private hospital operator based in Germany, whose products for dialysis have been in huge demand amidst COVID-19 pandemic. Earlier in August 2019, it was reported that Sodinokibi ransomware, also known as Sodin or REvil malware had affected the medical records retention and backup solutions that are used by several dental practice offices across the United States. The name of an online cloud-based data backup system is DDS safe.

What developments in Ransomware Protection Market are giving credence to the rationale that has been mentioned above?

2020

  • Collaboration:In February, it was announced that a new solution that provides ransomware protection within an end-to-end, on-premises backup architecture based on Cloudian® ‘s HyperStore® object storage and the new Veeam Availability Suite v10. This collaborative solution is capable of supports S3 Object Lock, which reportedly allows achiever immutability of backup data copies thereby rendering them invulnerable to losses caused by hacking activities. The aforementioned data immutability that has been validated by the US government certification testing ensures that in the event of a ransomware attack.
  • Deployment:In May, it was reportedly announced that new ransomware protection and Office 365 backup services built on HyperStore object storage platform by Cloudian and Veeam software was introduced by a leading cloud services provider in UK called Central Technology Limited [CT] and Veeam® Software. Within the purview of offerings, CT’s customers will be empowered to address the evolving needs pertaining to their data protection requirement given the increasing incidences of malware threats.
  • Product Launch: In March,  NeuShield, a company based out of California that has been known to be the developer of the world’s first mirror shielding technology allowing the recovery of data when other option of malware defense fails had reportedly announced it was making its award-winning technology Data Sentinel available to consumers that are inclusive of Home, Business and Free Editions. In the case of home users, the user interface has been kept simple and easy to use enabling the home users to make the most out of it with ease.
  • Strategic Decision: Despite the increased degree of ransomware attacks that the world has witnessed in recent times the duration during the CoVID19 pandemic has witnessed a further increase in attacks. In view of above NeuShield announced that it is providing ransomware protection for 6 months free of charge to new customers in sectors like education, healthcare, and public sector enabling the provision of protection to critical services during such trying times.

The major players covered as part of the report are among others.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/ransomware-protection-market

This report segmented the Ransomware Protection Market on the basis following terms

  • By Offering
    • Solution
    • Services
  • By Deployment Model
    • On-premise
    • Cloud
  • By Enterprise Size
    • Small
    • Medium
    • Large
  • By Application
    • Network Protection
    • Endpoint Protection
    • Database Protection
    • Others
  • By End-User Industry
    • BFSI
    • Communication and Technology
    • Retail
    • Government
    • Media and Entertainment
    • Others
  • By Geography
  • North America
    • United States
    • Canada
    • Mexico
    • Others
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Others