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Ransomware Protection Market 2020–By Identifying the Key Market Segments Poised for Strong Growth in Future 2023

Ransomware Protection Market is projected to develop at a CAGR of 15% while amassing revenues worth USD 20 billion in the forecast period.

Ransomware Protection Market – Overview

Ransomware Protection Market is projected to develop at a CAGR of 15% while amassing revenues worth USD 20 billion in the forecast period.

The global ransomware protection market is expected to grow at a CAGR of approximately 15% during the forecast period 2017-2023. Ransomware protection relates to security against software that prevents users from reaching their most confidential data or threatens to make their private data public unless a ransom is given for the same.

Technology giants Microsoft launches new Windows Defender Exploit Guard update in Windows 10 Fall Creators. One of its characteristics, Controlled folder access, restricts ransomware in its tracks by limiting illegal access to valuable user files. Controlled folder access secures folders, allowing only authorized apps to access data. Unauthorized apps, including ransomware and additional DLLs, malicious executable files, and scripts are refused access to folders. Ransomware threat encountered by an organization is anticipated to grow in the nowadays because of hackers. Therefore, there is a scramble amongst major players in the global ransomware protection market to give better end-to-end resolutions to their consumers. As an organization companies cannot afford to lose their essential and classified data under any situation by hackers. Corporations need ransomware protection solutions software to cater to their developing requirements, and some of the most important stakeholders in the global ransomware protection market are Symantec, Microsoft, Cisco, McAfee, and Bitdefender.

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Ransomware protection market has been divided into four geographic regions in our study, North America, Europe, Asia Pacific, and the Rest of World. Every region has a dedicated share in the ransomware protection report where we look at local drivers, restraints, opportunities, and threats and their impact. The traditional market size of the major countries in various regions has been analyzed and compared with their projected growth.

Ransomware Protection Industry Updates:

Dec 2018 Acronis’ has updated its Data Cloud platform for managed service suppliers including augmented ransomware security and improved integration with Microsoft Office 365. The Acronis Data Cloud 7.8 advances the platform’s security elements, building on its AI-driven technology to vigorously sense malicious behavior and adding blockchain-driven data integrity.

Jan 2019 Cohesity has added ransomware protection to secondary storage as legacy back-up is becoming a target. Cohesity’s hyperconverged secondary storage software gives robust protection against ransomware.

Ransomware Protection Market Segmental Analysis

The segmentation of the ransomware protection market is conducted on the basis of services, solution, regions, and applications. On the basis of solution, the ransomware protection market is segmented into end-point security solution, standalone anti-ransomware software, secure web gateways, network security solution, application control, and others. The segmentation on the basis of service, of the ransomware protection market consists of consulting services, managed services, and support & management services. Based on application, the ransomware protection market globally is segmented into endpoint protection, web protection, and database protection. The regions in the ransomware protection market are Europe, North America, Asia Pacific and rest of the world.

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Regional Analysis:

North America is forecasted to witness the immense growth in the ransomware protection market, owing to the presence of a large number of merchants of cyber security in this area. These merchants mainly offer high pioneering ransomware security solutions. Asia Pacific is also foreseen to show growth opportunities in the ransomware protection market owing to the emerging economies including China, India, and Australia heavily spending for cyber security solutions.

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