The global ransomware protection market is set to display a 15% CAGR from 2017 to 2023, as per the insights by Market Research Future (MRFR). The report contains insights on latest upgrades to the software amid latest threats from malware during the forecast period (2020-2027). The COVID-19 outbreak and its implications on the industry are included in the report.
Market Scope
The global ransomware protection market is driven by rising cases of data-driven companies being held hostage to hackers. Investments in cybersecurity and additional software to fortify defenses to limit access to critical files can drive market demand significantly. Recently, Microsoft Corporation has launched the Windows Defender Exploit Guard for controlling access to folder and files and enhancing the control of administrators.
Use of threat intelligence resolution for fighting advanced threats and determining business risks online can drive market demand. The advent of cryptocurrencies and the transition to cloud services has created new windows of attack for hackers. Use of ransomware protection to provide a layer of security against malware and other cyber threats can spur market growth.
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COVID-19 Impact
The COVID-19 pandemic will have no impact on production of smart glasses as various manufacturers have launched new versions of their products. The onset of 5G and changes in video communication by the modernization of infrastructure and cellular devices can bode well for the smart glass industry. The rise of video conferences and applications of mixed reality will be opportunities to be cashed in by the market over the forecast period.
Segmentation
Secure Web Gateways to be Leading Solution
Secure web gateways can protect users from malicious threats and user-driven web traffic. It can adhere to company policies prescribed by IT administrators and prevent users to attain access to suspicious files. Furthermore, threat intelligence resolution can provide real-time understanding of cyber threats and immediate plans for remediation.
Managed Services to Garner Significant Market Demand
Managed services are likely to gain significant market demand owing to small and medium enterprises looking to third-party vendors for their security needs. Prevention of attacks to save costs incurred to business and use of antivirus software to protect all endpoints can drive the segment growth.
Endpoint Protection to Gain Huge Market Share
The endpoint protection solution is expected to gain a huge market share owing to adoption of endpoint protection platforms for detecting threats and responding them by transferring infected files to a quarantined database. The solution can prevent data exfiltration, credential theft, and encryption.
Regional Analysis
North America to Lead in Global Market
North America is expected to take the lead in the global ransomware protection market owing to known phishing attacks and surge in infiltration attempts. Rise of threats from countries due to geopolitical tensions coupled with increased budget on cybersecurity as well as presence of online security vendors can drive market growth.
Competitive Analysis
Malware bytes Corp (U.S.), Intel Security (McAfee) (U.S.), Kaspersky Lab (Russia), Microsoft Corporation (U.S.), McAfee Inc. (U.S.), Symantec Corporation (U.S.), Avast Software S.R.O (Czech Republic), Cisco System Inc. (U.S.), Palo Alto Networks Inc. (U.S.), Zscaler, Inc. (U.S.), Sentinelone (U.S.), and Sophos Ltd. (U.K) are key players in the global ransomware protection market.
Industry News
Microsoft has struck an agreement with Rubrik for collaborating on a zero-trust security platform to prevent ransomware attacks.
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