We all know that email is one of the main vehicles for ransomware distribution around the world. This is why global ransomware protection focuses on email protection specifically. It all started with the major ransomware attack in the form of the WannaCry malware back in May 2017.
This malware infected 100,000 computers across 150 countries. This malware spread by an email message that asked users to download a particular type of attachment. As soon as the user clicked on it, it would automatically infect their device and other users within their network. It spread across the entire industry in a super short amount of time.
Now, users have to deal with another ransomware type. This is known as threat intelligence which is partly due to the increase of ransomware attacks as a whole.
Most organizations and companies should invest in the latest ransomware protection. This is to prevent the worst of these attacks. Of course, one has to keep in mind that this is on a global scale. So, it doesn’t matter where you are.
You’re still affected by the possibility of attack, especially if you belong to a particular network that’s attractive to cybercriminals.
An Overview of the Ransomware Protection Market
Ransomware bars entry or access to your files and even your device’s operating system. You won’t be able to use your PC or do anything meaningful with it. It can target pretty much anyone, from government agencies to healthcare providers and organizational networks.
As such, ransomware can cause havoc on entire systems and networks, while triggering massive financial and data loss.
Research shows that the global ransomware market is mainly supported by end-user industries that include defense, government, healthcare, education, and BFSI. The most commonly applied ransomware protection solutions include threat intelligence, intrusion detection system/intrusion prevention system (IDS/IPS), and standalone anti-ransomware software, and application control, web filtering and ensuring secure web gateways.
The international ransomware protection market compiles a research report each year both from unpaid and paid sources. This includes press releases, presentations, white paper, and journals.
In this report is useful data on restraints, driver and analysis of different opportunities and their effect on the market.
This research data comprises Porter’s five force analysis which helps to determine the market’s competitive landscape. This analysis gives a thorough report on all the biggest market players and the market share, their contact information, latest developments, business strategies and their cost and revenue structures.
What Are the Drivers and Restraints?
Ransomware protection basically hinges on phishing attacks and large-scale targeted security breaches. Hackers use these types of attacks to demand ridiculous amounts in ransom from organizations and individuals alike.
And that’s because these hackers typically mine the servers of said organization for lucrative information that the organization can’t operate without.
It’s important to note that the advent of crypto-currencies means that a lot of these hackers are demanding massive ransom payments in cryptocurrencies instead of regular currency. This makes it almost impossible to track them because cryptos are based on pseudonymous blockchain technology.
These factors are slowly turning the whole ransomware “industry” into a form of service that allows criminals to extract funds from particular industries.
Geographical Segmentation
The ransomware protection market report particularly analyses the following regions:
- Europe
- Asia-Pacific
- North America
- Rest of the World
Based on the data, Europe and North America will make up a large aspect of the market share thanks to the fact that a lot of key players are moving to these regions in droves. Plus, this is where cutting-edge security technologies find adoption first.
It’s also because these regions are the ones struggling with ransomware attacks the most due to the frequency in which they occur.
The data also shows that the Asia Pacific region is the one most likely to register a CAGR catalog in the near future. Also, the massive economic growth in this region means that there’s an unprecedented growth in cyber protection and security. Some of the major players in this region include countries like Singapore, Japan, India, China, and Australia.
However, ransomware hackers and criminals target small and medium-sized enterprises in this region.
Hard Competition
Most of the biggest companies in the ransomware protection industry right now focus particularly on developing products that’ll generate inorganic growth in the market. Some of the main strategies that major players use include acquisitions and partnerships.
We should start seeing this with companies like SentinelOne, Zscaler, Bitdefender, Kaspersky Lab, Trend Micro, Malwarebytes Intel Security, and Symantec Corporation.
Conclusion
If you ever find yourself struggling with ransomware, be sure to try Defencebyte Protection software which is one of the most accessible and effective solutions on the market.
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