Ransomware Protection Market Size, Share, Growth Analysis, By Component(Solution, Services), By Deployment Mode(On-premise, Cloud), By Organization size(Large Enterprises, SME’s), By Application(Network protection, Endpoint protection, Email protection, Database protection), By Solution(Standalone Anti-Ransomware Software, End-Point Security, Network Security, Secure Web Gateways), By Region - Industry Forecast 2024-2031

Ransomware Protection Market size was valued at USD 17.28 billion in 2019 and is poised to grow from USD 20.3 billion in 2023 to USD 73.9 billion by 2031, growing at a CAGR of 17.5% in the forecast period (2024-2031).

The global ransomware protection market is projected to expand at a positive CAGR between 2023 and 2030 owing to the increase in cybercrimes and potential risk of leakage of sensitive data through digital mediums. Ransomware is a serious and risky cyber threat that infects the target computer by encrypting files or locking the entire system unless a ransom is offered or paid. To secure the systems and increase overall security, organizations have increased security layers and features by investing in particular software to secure the network, statistics, and endpoints from various innovative cyber threats and crypto-malware. A threat intelligence solution is a widely used and preferred method of protecting against such cyber threats. As a result of its high demand, threat intelligence solutions are expected to grow rapidly in the near future.

The ransomware protection market share is primarily fuelled by an increasingly complicated network of systems that underpins the global digital economy. Because the market is heavily reliant on computing machines, the industry has developed various anti-ransomware verticals such as complicated systems, protected internet gateways, and numerous domains.

The market is expected to grow at a rapid pace due to an increase in the trend for ransomware protection as a service in recent years. The introduction of cryptocurrencies such as Bitcoin and Ethereum has increased the need for protection solutions because the majority of ransoms are demanded in cryptocurrency due to their untraceable nature.

Furthermore, technological advancements have had an impact on the industry, with the introduction of ransomware protection for mobile devices in addition to PCs. Because ransomware protection is critical for both affected and threatened users, the demand for anti-malware is high and expected to rise over the forecasted period.

US Ransomware Protection Market is poised to grow at a sustainable CAGR for the next forecast year.