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(I-SoftwareNews.Com, August 17, 2018 ) The ransomware protection market size is expected to grow from USD 8.16 Billion in 2016 to USD 17.36 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 16.3% during the forecast period. The major growth drivers of the market include rise in phishing attacks and security breaches and emergence of Ransomware-as-a-Service (RaaS) model, through which cybercriminals are reaping billions of dollars from the victims.
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The ransomware protection market is segmented by solution, services, application, deployment mode, organization size, vertical, and region. Secure web gateways solution is estimated to contribute the largest market size in 2016, as it protects the computers from user-initiated web traffic and enforces strong company policies. Furthermore, threat intelligence solution is expected to grow at the highest CAGR during the forecast period, as it provide real-time understanding of sophisticated cyber threats, their detection, analysis, and predictive remediation.
Managed services segment is estimated to grow at the highest CAGR during the forecast period. The SMEs are looking forward to the third-party vendors as managed security service providers for improved cybersecurity operations, within the organization. Moreover, professional services segment is expected to have the highest market size in 2016, as it includes consulting, training & education, and support & maintenance services.
North America is expected to have the largest market share and dominate the ransomware protection market from 2016 to 2021, due to the presence of large number of cybersecurity vendors across this region offering highly innovative ransomware protection solutions. On the other hand, APAC offers potential growth opportunities in the ransomware protection market, due to increasing spending on cybersecurity solutions in the emerging economies of the region such as China, Australia, and India.
The major vendors in the ransomware protection market include Intel Security, Symantec Corporation, Trend Micro, FireEye, Sophos, Bitdefender, Kaspersky Lab, Malwarebytes, Zscaler, SentinelOne, and others.
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Source: EmailWire.Com 
Source: EmailWire.com
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