Persistence Market Research delivers pertinent insights on the growth of the Ransomware Protection Market and identifies key market dynamics impacting this growth.

New York, NY -- (SBWire) -- 01/20/2017 --Ransomware is a term used for a type of malicious software/malware that blocks or limits the user from accessing important data of their system, either by locking the system screen or by locking the users' files. The attackers encrypt the data with a key and only that key can decrypt the data. These attackers than demand a ransom to unlock the files.

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In recent years, the market has witnessed a sharp increase in cyber-attacks involving ransomware. With more modern ransomware families continue to surface, causing damages not only to enterprises, but also to individual users, there has been an increasing demand for efficient ransomware protection tools.

Ransomware protection market is on the rise with cybercriminals turning to increasingly savvy and tough-to-prevent means of monetizing cyber-attacks. Enterprises are adopting various protection tools in order to avoid any kind of ransomware attacks which can paralyze organization's operations. Enterprises are realizing that along with a reactive approach against ransomware attack, taking proactive steps to minimize the odds that the organization falls victim to such is equally necessary.

Efficient ransomware protection involves range of activities such as prevention of exploit codes, protection from process hijacking, browser protection, advanced threat reporting and application behavioral protection.

Ransomware protection tools are increasingly becoming crucial components in cyber security systems of modern businesses. The growth of ransomware protection market is driven by factors such as increasing ransomware attacks on enterprises causing threat to critical data, enterprises have to cough up a large amount of money to decrypt files and increasing awareness among users to adopt proactive approach against ransomware attacks,

Presently, most enterprises are establishing security awareness campaigns stressing on preventive measures such as avoidance of clicking on suspicious links and attachments in email, installation of up to date antivirus across all endpoints within the business and backing up the data to cloud providers, local storage devices or network attached drives.

Ransomware protection solutions are expected to play a vital role in the development and implementation of cyber security initiatives taken by these enterprises, aimed to strengthen their core operations, differentiating them from competitors. In line with this goal, enterprises are allocating significant share of their budgets for ransomware protection tools and an appreciable portion of these investments are expected to flow into the ransomware protection market.

Market Segmentation:

Global ransomware protection market is mainly classified on the basis of type of ransomware, services, deployment, verticals and regions.

On the basis of type, global ransomware protection market is segmented into police ransomware (Browlock) and encrypting ransomware (Cryptoware).

On the basis of services the market is segmented into professional, consulting, and support & management services.

On the basis of deployment the market is segmented as on-cloud and on premises.

On the basis of verticals the market is segmented as commercial (BFSI, IT & Telecommunication, hospitals, law firms, education, government institutions and others) and residential.

On the basis of regions, the market is segmented into 7 key regions:
-North America
-Latin America
-Western Europe
-Eastern Europe
-Asia Pacific Excluding Japan
-Japan
-Middle East & Africa

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Key Market Players

The major players active in the global ransomware protection market include Intel Security (McAfee), Bitdefender, AVAST Software s.r.o., Microsoft, Malwarebytes, Trend Micro Inc., Symantec Corporation, Kaspersky Lab, Zemana Ltd. and Sophos Ltd.

Overall it can be concluded that the growth prospects of the ransomware protection market are promising, as adoption across all the sectors is set to increase in the foreseeable future.

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