Survey predicts Ransomware Protection Market to be 17.36 Billion USD worth by 2021

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Ransomware Protection Market which includes Secure Web Gateways, Application Control and Anti- Ransomware software is predicted to become 17.36 Billion USD worth by 2021. Yes, you heard it right! The survey carried out by MarketsandMarkets research firm has confirmed a Compound Annual Growth Rate(CAGR) of 16.3% for this business segment.

The same research firm predicted in 2014 that companies offering protection solutions against Ransomware will reach USD 8.16 Billion by 2016. The estimation turned into a reality.

Similarly, the latest estimation about threat intelligence solutions will also turn true as organizations are increasingly adopting solutions which could help them combat against malicious viruses such as ransomware and other advanced cyber threats.

MarketsandMarkets research predicts that email protection solutions will gain a high traction in the Ransomware Protection Market. And this is due to the fact that most of the malicious software is being distributed by unsolicited emails attachments by cyber criminals.

Hence, email protection has become a top priority for Corporate environments CIOs due to the rise in instances of Business Email Compromise scams.

As a rise in security breaches targeting enterprise environments is being witnessed, network protection segment is estimated to represent a large market size to the Ransomware Protection Market.

Healthcare sector has become the prime target for hackers spreading malicious links and so CTOs/CIOs from this business vertical will be the first customers of companies offering solutions against ransomware.

Companies offering Financial Tech which includes the web and mobile applications for banking transactions and payments will be the second biggest consumers of Ransomware Protection solutions.

Coming to the regions, the Seattle-based research firm predicts that North America will dominate the market share of ransomware Protection market from 2017 to 2021. And the said region will be followed by nations like China, Australia and India with emerging economies.

The major vendors in offering Protection solutions from Ransomware will be Intel Security, Symantec Corporation, Trend Micro, FireEye, Sophos, Kaspersky Lab, Malwarebytes, Zscaler, and others.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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