Ransom ware protection is security software that prohibits the user from reaching their confidential data, protect from threats to make their data private unless a ransom is given to them. It is software that allows an individual to restrict ransomware to access their folders by employing limiting illegal access. Ransomware is the most hazardous cybercrime that is being installed in the computer or by enciphering the information they used to blackmail an individual for some amount of ransom.
The main factors boosting the Ransom Ware Protection Market are:
- Rise in targeted security breaches and the volume of phishing attacks: Due to the provision of advanced technology and window defender program, it helps in protecting the confidential and personal data from being hacked. Cybercrime security enables the user by protecting their data and attacking the hackers the market is being protected and attain a significant growth in the market.
- The advent of crypto-currencies, such as Bitcoin: With the introduction of crypto currency as the medium of exchange or mode of payment, there is rise in the demand of the ransomware protection software. The value of bitcoin is very high in numbers, to protect the users from the cybercrimes; the introduction of ransomware protection is augmenting the growth of the market.
The market is segmented on the basis of solution as standalone anti-ransom ware software, secure web gateways, application control, IDS/IPS, web filtering, threat intelligence, others; service as professional services, consulting, training and education, support and maintenance, managed services; application as network protection, endpoint protection, email protection, database protection, web protection; deployment mode as cloud, on premise; organization size as SMEs, large enterprises; vertical as government & defense, BFSI, IT & telecom, healthcare, education, energy & utilities, retail, others; end user as commercial, residential.
Some of the Ransom Ware Protection Market developments are as follows:
- In June 2018, ERM Electronic Systems LTD announced the launch of eCyber that protects vehicle against ransomware and cybercrimes. It is a complete pack of hardware and software solution in a single box. The system is being installed in the vehicle and it is connected with a CAN bus, which allow communication through the defined parameters. It protects the vehicle from disrupt functioning by avoiding any unrecognized communication.
- In September 2017, Cortex I.T. Labs Pty Ltd announced the launch of crypto safeguard using window software to protect from the cyber- attacks. It is designed to give protection by proving an extra layer of detection at data level. It helps to monitor the end-user system by providing backup if cybercrime is happening. It will notify the administrator and protect the system from being encrypted.
According to Data Bridge Market Research, global ransom ware protection market is expected to grow at a healthy CAGR of 17.80% during the forecast period of 2019 to 2026
Some of the major players operating in the market are Intel Corporation, Symantec Corporation, Trend Micro Incorporated., FireEye, Inc., Sophos Ltd., Bitdefender, AO Kaspersky Lab., Malwarebytes, Zscaler, Inc., SentinelOne, McAfee LLC, Malvern Panalytical Ltd, DXC Technology Company, BullGuard., Panda Security, Avira Operations GmbH & Co. KG., ZoneAlarm, Cylance Inc., Heimdal Security among others.
With the introduction of ransom ware protection, there is a growing demand of the data backup and recovery from the end of the users. To have the solution for multi layered security approach, cybercrime specialists are undergoing various innovations that can enhance the protection of personal and confidential data of their users and to spread awareness regarding the threats intelligence to organizations and customers.
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