Ransomware Protection Global Market Report 2024

The ransomware protection market size has grown rapidly in recent years. It will grow from $21.19 billion in 2023 to $25.07 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth observed in the historical period can be attributed to increased internet connectivity, the growth in online transactions, the rising use of digital devices, the expanding cybersecurity threats, and the emergence of ransomware attacks.

The ransomware protection market size is expected to see rapid growth in the next few years. It will grow to $46.12 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The anticipated growth in the forecast period can be attributed to the rising sophistication of ransomware attacks, increased adoption of cloud services, growing awareness of cybersecurity threats, regulatory pressures on data protection, and the expansion of remote work environments. Major trends expected in the forecast period include the integration of artificial intelligence in ransomware protection, the implementation of blockchain-based security solutions, the development of automated incident response systems, the rising demand for threat intelligence sharing platforms, and a heightened focus on user education and awareness.

The anticipated surge in phishing attacks is poised to drive the growth of the ransomware protection market in the foreseeable future. Phishing, a prevalent social engineering attack, is frequently employed to illicitly obtain user information, including login credentials and credit card details. Ransomware protection plays a pivotal role in thwarting phishing attacks by identifying and blocking malicious emails, educating users on recognizing phishing attempts, and preventing ransomware infections before they can encrypt critical data and systems. Notably, in the first quarter of 2022, the Anti-Phishing Working Group reported a substantial increase in phishing attacks, recording a total of 1,025,968 incidents, reflecting a 15% rise from the fourth quarter of 2021. This escalation in phishing attacks stands as a primary driver for the growth of the ransomware protection market.

The growing adoption of smartphones is expected to significantly contribute to the expansion of the ransomware protection market. Smartphones, encompassing built-in computing capabilities and various functionalities, have become integral to daily life. Ransomware protection is crucial for safeguarding user data, personal information, and the functionality of these devices, preventing unauthorized access and potential financial losses resulting from ransomware attacks. As of 2022, the UK witnessed a notable increase, with 71.8 million mobile connections, marking a 3.8% rise from 2021. This trend is expected to persist, with an estimated 95% of the UK population, around 65 million individuals, owning smartphones by 2025. The surge in smartphone adoption emerges as a significant driver for the growth of the ransomware protection market.

Technological advancements emerge as a prominent trend gaining traction in the ransomware protection market. Major companies within this market are actively investing in innovative technologies to maintain a competitive edge. In April 2023, Thales Group, a French information technology company, introduced the CipherTrust Transparent Encryption Ransomware Protection (CTE-RWP) platform. This cutting-edge technology aids in protection against ransomware attacks by monitoring the file system, identifying, flagging, or halting unauthorized encryption and data exfiltration. CTE-RWP incorporates real-time behavioral analysis for user system programs, providing a secure and convenient environment for customers to use and interact with their files and folders.

A strategic focus on introducing innovative solutions, such as zero-day ransomware protection, is observed among major companies operating in the ransomware protection market. Zero-day ransomware protection signifies a proactive cybersecurity approach that employs specialized technologies to identify and mitigate threats arising from unknown or unpatched vulnerabilities. This includes vulnerabilities in software or systems, offering early defense against emerging ransomware attacks before official patches or signatures are available. In June 2023, CTERA, a US-based software company, launched CTERA Ransom Protect, an integrated zero-day ransomware protection solution utilizing artificial intelligence for early detection and instant recovery. This solution, distinguished by its reliance on advanced machine learning algorithms, swiftly identifies and blocks suspicious file activities, bypassing the need for traditional signature update services. Additionally, it provides comprehensive incident evidence logging and post-attack forensics, facilitating real-time attack monitoring and effective incident mitigation.

In March 2022, SentinelOne Inc., a US-based cybersecurity company, acquired Attivo Networks Inc. for $616.5 million. This strategic move enables SentinelOne to enhance the capabilities of Singularity XDR in addressing identity-based risks across various endpoints, cloud-based applications, Internet of Things (IoT) devices, mobile devices, and data locations. The acquisition amplifies organizational zero-trust adoption and fortifies defenses against ransomware attacks. Attivo Networks Inc., a US-based cybersecurity company, provides a range of solutions geared toward protecting against ransomware attacks.

Major companies operating in the ransomware protection market report are Microsoft Corporation, Intel Corporation, International Business Machines (IBM) Corporation, Cisco System Inc., Broadcom Inc., Palo Alto Networks Inc., W314Fortinet Inc., Gen Digital Inc., Check Point Software Technologies, McAfee LLC, Trend Micro Inc., CrowdStrike Holdings Inc., Zscaler Inc., FireEye Inc., Avast Antivirus, Kaspersky Lab, Proofpoint Inc., CyberArk Software Ltd., ESET s.r.o., Ivanti, Barracuda Networks Inc., Bitdefender SRL, Acronis International GmbH, SonicWall, Webroot Inc., SentinelOne Inc., Malwarebytes Inc., F-Secure Corporation, Cybereason.

North America was the largest region in the ransomware protection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ransomware protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ransomware protection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main components of ransomware protection include solutions and services. Solutions comprise interconnected software applications and services presented as a unified unit. These solutions can be deployed through various methods such as cloud-based or on-premises solutions, catering to organizations of different sizes, including small and medium enterprises (SMEs) and large enterprises. The applications within ransomware protection cover endpoint protection, network protection, database protection, web protection, and email protection. These applications find application across diverse industry verticals, including banking, financial services, and insurance (BFSI), information technology (IT) and telecom, government and defense, retail, education, healthcare and life sciences, among others.

The ransomware protection market research report is one of a series of new reports that provides ransomware protection market statistics, including the ransomware protection industry global market size, regional shares, competitors with ransomware protection market share, detailed ransomware protection market segments, market trends and opportunities, and any further data you may need to thrive in the ransomware protection industry. This ransomware protection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The ransomware protection market includes revenues earned by entities by providing services such as backup, disaster recovery, and threat intelligence, power protection appliances, and cyber security solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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